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September 2024: Best $500+ Limit Credit Cards from Our Partners
Typically, when you apply for a credit card, your future credit limit depends on your credit score and income. Therefore, people with bad credit or no credit history often get credit cards with low credit limits. However, some issuers disclose initial credit limits for some credit cards, which at least allows applicants to know where they will start. Below we gathered credit cards with a minimum credit limit of $500. Review the offers to see if there is a right card for you.
Best Offer of September 2024
HIGH CREDIT LIMIT
- To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime® Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash deposits, one time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
- Chime® Checking Account and $200 qualifying direct deposit required to apply.
- No annual fees or interest.3
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Get $500 Credit Limit or More to Build Credit
When you have bad credit, your initial credit limit on a credit card can be as low as $200, which is basically the minimum. But not all credit cards offer minimum credit limits. Sometimes you can apply for a credit card with a $500 limit right away even if your credit is bad or you have no credit history at all. In this case, if you are approved, the $500 credit limit is guaranteed.
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Reflex® Platinum Mastercard®
Instant Decision Card
TO GET IN September 2024
- Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
- See if you’re Pre-Qualified with no impact to your credit score
- All credit types welcome to apply
HAVE DIFFERENT CREDIT HISTORY?
See offers for your credit:
questionsABOUT CREDIT CARDS
WITH HIGH LIMIT
Can I get a high-limit credit card if my credit is bad?
It's unlikely - but it depends how bad your credit is, and how high a limit you seek. A credit score of less than 600† is subprime, and you will be likely not get approved for more than a few hundred...
Read moreHow much credit limit do I qualify for?
Credit limits are determined by credit card issuers depending on your creditworthiness. The higher your credit score, the better chance you have of getting a high credit limit - in the $10,000 to $30,000 range. Issuing...
Read moreWhat credit cards can people with no credit history apply for?
All major credit card companies run a credit check before approving a credit card application. This makes it difficult for people with no credit history to apply for credit cards like Visa or Master cards. However,...
Read more
high credit limit AND HOW TO GET IT
A higher credit limit is not only an ability to spend more but rather an opportunity to improve your credit utilization ratio. You can't request a credit limit during the application process for a credit card, however, you can increase it over time.
There are several ways to get a higher credit limit:
01. Apply for a new credit card
If you have no problems with your current credit cards, and you think you will be able to manage one more credit card and stay current with all your credit accounts, you can get a new credit card with a higher credit limit. Even if the credit limit on your new credit cards isn't higher than your current one, it still increases your overall available credit and improves your overall credit utilization.
02. Request a credit limit increase
You can either do it online through your account access or call your card issuer. If you do it online, see if you need to update your income information before you submit a request. If you choose to talk to a representative, be ready to tell the reason for your request as well as provide information about your current income.
03. Automatic increases
Some issuers may increase credit limits automatically in certain time periods. In this case, you only need to make sure you are using your card responsibly and never late with a single payment.
However, be careful with credit limit increase requests. Such a request may result in a hard inquiry on your credit reports, which may lower your credit score by several points. The better time to request an increase is after you've got a pay rise, improved your credit, or have been a responsible cardholder with your issuer.
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