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Since you don't say which card you're talking about, it's hard to answer your questions, but I can give you some general information that may be helpful.

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 banks do look at your income level as well when determining your credit limit, but credit history is the biggest factor. Here is a range of expected credit limits according to credit score:

  • Average starting credit limit for customers with excellent credit (720-850): $5000-$8000
  • Average starting credit limit for customers with average to good credit (620-719): $2000-$4500
  • Average starting credit limit for customers with limited credit (300-619): $500-$1500

Most credit cards will allow you to take out cash from an ATM; however this should be reserved for emergencies only. The APR on cash advances is almost always very high - in the 25 - 30 percent range - and there can be an additional fee to take out cash, as well as the high APR. If you need to get cash from an ATM using plastic, a prepaid card is a better option.

As for what credit score you need to have, it depends entirely on the credit card and issuing bank you are dealing with. When you look over the credit card offers on our site, you will see the credit level needed for that card - excellent, good, average, or bad. You can use our Credit Card Navigator, on our home page, to find a card that's right for you.

I hope these tips are helpful - if you have further questions you are welcome to contact us at any time.