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It depends on what "high limit" is for you and how bad your credit is. Plus, your credit history is not the only factor that can affect the credit limit on your new credit card. Such factors as your income and balances on other active credit cards (if you have any) can also be the reasons why you may be offered a credit card with a low credit limit.

If it's only poor credit that prevents you from getting a high credit limit on a credit card, then you should understand how bad your credit is, why it is bad, and what you can do about it. A bad or poor credit score range is 300 to 579†. The reasons for having bad credit can be different. You may have poor credit because of bad moves in the past, like late or missing payments, going over the limit, or even bankruptcy. Or your credit might be poor simply because you have a thin credit file, meaning you haven't had credit accounts long enough to build credit.

If you damaged your once good credit to poor credit, it will be harder to get a high limit credit card, as lenders will consider you as a high-risk customer. In this case, we would recommend you start slow. It might even be a secured credit card to help you build credit. Secured cards usually require a minimum refundable security deposit that will become your line of credit, but you can always put more than a minimum to have a higher credit limit available. For example, with the First Latitude Assent Secured Mastercard®, you can increase your security deposit up to $5,000.

If you are just starting your credit journey and your credit score is close to 579 or even higher and you have no late or missed payments, you can consider credit cards for fair credit. These cards may come with higher credit limits or offer opportunities to increase your starting credit limit. For example, the Indigo Mastercard comes with a guaranteed $1,000 credit limit.

tags : Bad Credit Credit Score Credit Limit High Limit

Disclaimer: This editorial content is not provided or commissioned by the banks or credit card issuer(s). Opinions expressed here are the author's alone, not those of the banks or credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the banks or credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult with the issuing bank of the card or account for terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.