Credit Cards With High Limits For Bad Credit

Comparing the best high limit credit cards for bad credit

A closer look at the best high limit credit cards for bad credit

U.S. Bank Altitude Go Secured Visa Card

Rewards rate:

• 4x points on dining, takeout, and restaurant delivery.
• 2x points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations.
• 1x points on all other eligible purchases.
• $15 annual streaming credit.

Annual fee: $0

Intro APR: N/A

Regular APR: 29.99%

Signup bonus: N/A

Our verdict: Start with a security deposit of $300 to $5,000, there’s no annual fee, high rewards rates on bonus categories, and flexible redemption options. Plus, your points never expire. Your refundable deposit is your credit limit, and you can build your credit with responsible usage and payment history. Over time, you may be automatically upgraded to the U.S. Bank Altitude Go Visa Signature Card. Enjoy other benefits like choosing your payment due date.

Pros:

• Security deposit/credit limit up to $5,000.
• No annual fee.
• Rewards on bonus categories.
• Redeem points for travel, merchandise, cash back, gift cards, and more, or redeem instantly for nearly any purchase with Real-Time Rewards.

Cons:

• 2,500 points minimum redemption.
• High regular APR.

Apply now: U.S. Bank Altitude Go Secured Visa Card

U.S. Bank Cash+ Secured Visa Card

Rewards rate:

• 5% cash back on your first $2,000 in combined eligible purchases each quarter in two categories you choose (fast food, home utilities, TV/internet/streaming, department stores, cell phone providers, electronic stores, sporting goods stores, movie theaters, gyms/fitness centers, furniture stores, ground transportation, select clothing stores).
• 5% back on prepaid air, hotel, and car reservations booked in the Rewards Travel Center.
• 2% cash back on eligible purchases in your choice of one everyday category (grocery stores and grocery delivery, restaurants, gas stations, and EV charging stations).
• 1% cash back on all other eligible purchases.

Annual fee: $0

Intro APR: N/A

Regular APR: 29.99%

Signup bonus: N/A

Our verdict: The U.S. Bank Cash+ Visa Secured Card is a good option for those looking to build or rebuild their credit, especially due to its generous cash back rewards, $0 annual fee, and ability to automatically upgrade to the unsecured version of the card if you’re eligible. As a secured card it requires a deposit, but your credit line can be up to $5,000, giving you more purchase flexibility. Additional perks are fairly limited, but there are several convenience benefits like autopay, $0 fraud liability, and others. Additionally, there are some purchase limits and you must choose and activate the categories to earn. The regular APR is also high.

Pros:

• Security deposit and credit line of up to $5,000.
• Automatic upgrade to the U.S. Bank Cash+ Visa Signature Card if eligible.
• Cash back can be redeemed as a statement credit or direct deposit into your U.S. Bank account.
• No limit on the total cash back you can earn.

Cons:

• You must choose and activate your cash back categories.
• $2,000 combined purchase limit each quarter.
• Limited cash back redemption options.
• Rewards redemption starts at $25.
• High regular APR.

Apply now: U.S. Bank Cash+ Secured Visa Card

Bank of America Customized Cash Rewards Secured Credit Card

Rewards rate:

• 3% cash back in the category of your choice (gas and EV charging stations, online shopping (including cable/internet/phone plans and streaming), dining, travel, drug stores and pharmacies, home improvement/furnishings).
• 2% cash back at grocery stores and wholesale clubs.
• Unlimited 1% cash back on all other purchases.

Annual fee: $0

Intro APR: N/A

Regular APR: 28.24% variable

Signup bonus: N/A

Our verdict: This card is a good fit for consumers who are new to credit cards or are rebuilding credit and want to earn some cash back. There’s no annual fee and you can earn up to 3% cash back in a bonus category of your choice, the card has a flexible credit limit, and you can view your FICO Score through your online account for free. Plus, you’ll get period automatic reviews of your account and you may get upgraded to an unsecured card. There are some limits with the cash back you can earn so you may have to track your spending to maximize the bonus opportunities, but it does report to the three major credit bureaus to help you build your credit.

Pros:

• Automatic account review to qualify for returned security deposit.
• Security deposit $200 to $5,00 required to open the account.
• No annual fee.
• Cash rewards don’t expire.
• Can change 3% bonus category as often as once per month.
• Earn more rewards if you are eligible for the Bank of America Preferred Rewards program.
• Redeem rewards for any amount, any time, for statement credits, deposits made directly into a Bank of America checking or savings account, or credit to an eligible account with Merrill.

Cons:

• 3% and 2% cash back on the first $2,500 in combined purchases each quarter).
• High regular APR.
• Minimum deposit of at least $200 required.

Apply now: Bank of America Customized Cash Rewards Secured Credit Card

Bank of America Unlimited Cash Rewards Secured Credit Card

Rewards rate: Unlimited 1.5% cash back on all purchases

Annual fee: $0

Intro APR: N/A

Regular APR: 28.24% variable

Signup bonus: N/A

Our verdict: If you’re looking for a secured card that will help you build your credit, has $0 annual fee, and simple rewards, this is a good card for you. The solid 1.5% unlimited cash back on all purchases allows you an easy way to earn rewards on all of your spending, and while there aren’t many other perks that come with the card, there is an opportunity to automatically qualify for an upgrade to the unsecured version.

Pros:

• No limit on the amount of cash back you can earn and rewards to not expire.
• Security deposit of $200 to $5,000 equals your credit limit.
• Earn more rewards if you are eligible for the Bank of America Preferred Rewards program.
• Automatic account review to qualify for returned security deposit.
• Redeem rewards as a statement credit to your credit card, deposit in your eligible Bank of America checking or savings account, or credit into your eligible Merrill accounts.
• Simple rewards are easy to manage.

Cons:

• Other secured cards may earn you higher rewards.
• Minimum deposit of at least $200 required.
• Foreign transaction and balance transfer fees.

Apply now: Bank of America Unlimited Cash Rewards Secured Credit Card

First Progress Platinum Prestige Mastercard Secured Credit Card

Rewards rate: 1% cash back on all purchases

Annual fee: $49

Intro APR: N/A

Regular APR: 15.24% variable

Signup bonus: N/A

Our verdict: If you have bad, limited, or no credit, this secured card is easy to get since no minimum credit score is required for approval. While it does have a $49 annual fee, its low APR solid credit line range ($200 to $2,000) and fully refundable deposit make this a good option for those looking to build credit. You won’t be eligible for an automatic upgrade to an unsecured card, but you can earn 1% cash back and your progress will be reported to the credit bureaus.

Pros:

• Choose your own credit line based on your security deposit ($200 to $2,000).
• No minimum credit score is required for approval.
• Reports to all three credit bureaus.
• Low ongoing APR.

Cons:

• $49 annual fee.
• No opportunities to upgrade to an unsecured card.
• Could find better rewards on other cards.

Apply now: First Progress Platinum Prestige Mastercard Secured Credit Card

Chime Credit Builder Secured Visa Credit Card

Rewards rate: N/A

Annual fee: $0

Intro APR: None

Regular APR: None

Signup bonus: N/A

Our verdict: Unlike traditional credit cards, the Chime Credit Builder Secured Visa helps you build credit with no credit check, no annual fees, and no interest. The amount of money you move into your account is the amount you can spend on the card, and that money can be used to pay off your monthly balances. This card doesn’t earn any rewards for spending, but if you’re looking for a credit-building card with a ton of flexibility on usage and limits, this is a great option. Plus, it’s one of the easiest credit cards to open.

Pros:

• No annual fee or interest.
• No credit check to apply.
• No minimum security deposit required.
• Reports to all three major credit bureaus.
• The amount of money in your Checking Account is your credit limit (up to $10,000); adjustable limit based on what you transfer to the secured account.
• Spending up to your limit won’t contribute to a high-utilization record on your credit history.

Cons:

• Must have a Chime Checking Account to qualify.
• Must have qualifying direct deposits of $200 or more.

Apply now: Chime Credit Builder Secured Visa Credit Card

Surge Platinum Mastercard

Rewards rate: None

Annual fee: $75 to $125 (then $99 to $125 after first year)

Intro APR: N/A

Regular APR: 29.99%

Signup bonus: N/A

Our verdict: If you’re looking for an unsecured card that accepts applicants with poor credit, this may be the card for you. While the credit limits are extremely variable, ranging from a minimum of $300 to a maximum of $1,000, there is the opportunity for your limit to double after six on-time payments. (The exact limit you’re offered depends on your credit history.) Other aspects of this card are also highly dependent on your creditworthiness, including the APR and annual fee. There are also no rewards. That said, this straightforward card does report your activity to the credit bureaus and gives a basic opportunity to improve your credit.

Pros:

• No deposit is required.
• The initial credit limit ranges from $300 to $1,00.
• Use a Surge card everywhere Mastercard is accepted.
• The initial credit limit will double after making the first six monthly minimum payments on time.
• $0 fraud liability protection.
• Reports to all three credit bureaus.
• Free credit monitoring tools.

Cons:

• High APR.
• Charges high annual fee.
• Cash advances, foreign transactions, and additional cards all incur a fee.

Apply now: Surge Platinum Mastercard

How do you get approved for a high limit credit card?

Your credit limit depends on factors like your credit score and history, income, other debts, and others. To get approved for a high limit credit card, you’ll need good to excellent credit and proof of income showing you can afford the high limit.

Start by applying for a credit card with a high starting limit. These are typically listed in the card’s terms and conditions. To improve your chances of getting a card with a high initial limit, take steps to improve your credit score, increase your income, and reduce your debts.

Then, some card issuers may automatically review your account for a credit limit increase every six or 12 months (though this isn’t guaranteed). You can also request a credit limit increase online or by calling the customer service number on the back of your card.

If you have poor credit and are looking for a card with a high limit, research secured cards that have a higher maximum deposit, sometimes ranging up to $2,000 or even $5,000. With on-time payments and responsible use, you’ll likely be eligible for an automatic upgrade to an unsecured card or a credit limit increase.

Methodology

The methodology for choosing the best highlimit credit cards for people with bad credit involves evaluating factors such as security features, ease of use, rewards programs, customer reviews, and fees. Financial experts and analysts assess these aspects to provide rankings and recommendations. The goal is to identify credit cards for consumers with poor credit that offer strong security measures, user-friendly interfaces, attractive rewards programs, positive customer feedback, and reasonable fees. By considering these factors, users can make informed decisions and select credit cards that align with their needs and preferences.

The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you visit the respective card’s website before proceeding.

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