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HIGH LIMIT CREDIT CARDS DEALS
from MasterCard, Discover and American Express
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Other Credit Cards with High Limit:
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Bank`s name |
Credit History | Intro APR Purch. | APR % | Annual Fee |
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Excellent / Good | 0% (up to 18 months) | See Site | $0 |
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Fair / Good | N/A | See Terms | $35 - $99* |
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High Limit Credit Cards for Better Life
It is no news, the higher the limit on your credit card is, the more spending capacity you enjoy. There is hardly a single cardholder who would mind having a high credit limit, but getting approved for such a card offer is not a five-minute matter.
As each new customer is a potential risk, the creditor will have to check all the customer´s credit and personal information for the evidence of solvency. In fact, the smaller risk you are, the higher credit limit you get.
So, when making the lending approval decision, the bank will evaluate the following factors of your paying capabilities — the level and stability of your income, your social status, the permanency of your work place and residence, your payment history and others.
What are your chances? If you are a good or excellent credit consumer with a high income and favorable references from your employer and if you are the bank account holder already, you are more than likely to be approved for a high limit card.
Remember that your credit rating does not only affect the limit on your card but also its interest rate, in other words, the overall cost of the credit offer.
To make a smart and really profitable deal, compare and evaluate card offers from different issuers, paying special attention to the limits, rates, perks and penalty charges.
High Limit Credit Cards: Use Manual
You should know your credit consumer's rights and use them to the most advantage. Thus, once your excellent credit has proved an open door to the abundance of high limit credit offers available on today's highly competitive market, make sure you go for broke to find the best variant.
Remember, the high limit is not the only perk on your deal with the bank. As you are a valued customer, whom the bank cannot afford loosing, you will see a bunch of other benefits like irresistible teaser rates, low ongoing APRs, no annual fees and lavish rewards.
That is not all. As a potential successful applicant for a high limit card, you can make the bank play your rules. A petty harmless joke that a rival issuer has offered you a higher credit line can make the bank take off the initial limit offer.
Oftentimes, due to the heated competition between card providers, you will really be offered numerous excellent credit cards to choose from. So, take your time to compare the deals based on your priorities and credit management patterns.
If you mean to get a really generous credit line, you will probably have to put up with higher rates or annual fees, but isn't a greater spending capacity worth it?
Note that a greater spending power does not imply you may use all of your available credit at just a number of swipes. Such behavior will show you as irresponsible card user who tends to overspend. As a result of the increased credit risk you will have to pay penalty charges.
A high limit credit card does not only prove your good credit standing and enchanced credit facility but also takes it for granted that you can operate the big money efficiently.
When Can You Set Your Credit Card Limit?
What does a no pre-set limit on your plastic mean? In fact this option, granted by the card issuer to excellent and good credit consumers, allows the applicant to set his/her own credit limit depending on the repaying capacity, payment history and other signs of solvency and responsible behavior.
There is no need to stretch imagination to conceive the evident advantage of setting an individual credit card limit. You know your needs and spending habits, so you can easily satisfy them with a card that can pay for them.
One key requirement for the successful management of a no pre-set limit credit card is to remember that it still has a cap on your borrowing capacity, which you determined yourself. The other is to remember to pay monthly credit card bills in full.
What risk are you exposed to? Curious, but your credit ratio, or utilization, will always be equal to 100%, because credit reporting agencies use your highest balance as the credit limit.
With a regular, pre-set limit credit card, you are advised to use no more than 30% of your credit line so that your scores remain in good standing.
A smart cardholder will typically make huge charges on a no pre-set limit card, so that the charge is considered by the bureau as the high limit.
So, although credit cards with no pre-set limit give you more freedom and flexibility, you need to be very cautious and calculating using them.
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Do You Really Need High Credit
Limit to Improve Credit?
All applicants, irrespective of their credit history, dream of owning a high limit credit card as it usually indicates to a healthy financial status and respectability. However, people with limited credit, despite all their good intentions to improve it, cannot evidently hope to be approved for high limit and, as a matter of fact, they do not need it.
What they need is a card with a moderate credit line that will both reduce the risk for the lender and help them gradually improve their payment records. Bank offers for fair credit support you with the right credit limit so that you feel comfortable making purchases while building up your credit score.
The right credit line amount, say $3,000 should protect a fair credit customer from charging more than his/her financial status allows and at the same time be sufficient for making necessary purchases and coping with emergencies.
On the other hand, a plastic with a lower credit limit teaches you count money and be more disciplined and smart using it.
Full and regular payments on your credit card bill will promptly and efficiently take you on a new level of credit rating where you will be able to qualify for a higher limit credit offer with more enticing terms and rates.
How Do You Get a Credit
Limit Increase?
Customers with limited credit should not be depressed about their limited credit line amount and restricted spending capacity following it. This is not for long!
Yes, the issuer gave you initially a small credit line but it is reviewed monthly to be possibly increased if you prove responsibility and good sense in managing the money and paying the bills.
With the diligence of making full and timely bill payments and keeping within the credit limit, you get more chances to get your credit extended!
And extended credit line is a sign that you are on the right path to earning the creditor's trust and building a credit history.
A credit card with a small credit line can be an effective tool of building credit, considering that the issuer allows online access and control of the account and reports to all the credit bureaus for fast and sure recovery.