Ever wondered about those exclusive high-limit credit cards for people with stellar credit? If you've worked hard to build a credit score of 700 or more, you might be eligible for one of these coveted cards. In this article, we will dive into the world of high limit credit cards, exploring their benefits and requirements, so you can decide if they're the right fit for your financial goals.
High Limit Credit Cards For 700 Credit Score Table of Contents
What is a High Limit Credit Card?
A high limit credit card is one that offers a significantly higher credit limit than traditional credit cards. These cards are designed for individuals with excellent credit and a solid financial background. Generally, they come with added perks and benefits, making them highly sought-after financial products.
Benefits of High Limit Credit Cards
Some of the main advantages of high limit credit cards include:
- Higher purchasing power: A higher credit limit allows cardholders to make larger purchases or pay for unexpected expenses without worrying about hitting their credit ceiling.
- Lower credit utilization: Using a smaller percentage of your overall credit limit can positively impact your credit score. A high limit card can help you keep your credit utilization low, even if you occasionally carry a balance.
- Rewards and perks: High limit cards often come with more lucrative rewards programs, travel benefits, and premium services that regular credit cards don't offer.
- Emergency access: A high limit credit card can also come in handy during emergencies when you need immediate access to a large sum of money.
High Limit Credit Card Options for 700 Credit Scores
Although a credit score of 700 is considered "good", it's not always enough to qualify for the highest credit limits available. However, several credit cards with generous credit limits are well-suited for those with a 700 credit score:
- Chase Sapphire Preferred: With a generous rewards program, a high credit limit, and valuable travel perks, this card is an excellent option for those with a 700 credit score. The card's credit limit typically starts at about $5,000, but some cardholders report limits as high as $20,000 or more.
- Capital One Venture Rewards: This travel rewards card offers a credit limit of $5,000 to $30,000, depending on your creditworthiness. In addition to a high limit, the card offers unlimited 2X miles per dollar on every purchase and bonus miles on hotel stays and car rentals.
- Discover it Cash Back: With credit limits ranging from $2,500 to $25,000, the Discover it Cash Back card is another great option for those with a 700 credit score. Cardholders can earn 5% cashback on rotating categories (like grocery stores, gas stations, and Amazon.com) and 1% cashback on all other purchases.
- AMEX Blue Cash Preferred: The American Express Blue Cash Preferred offers generous credit limits, up to about $25,000, depending on your creditworthiness. This card also provides an attractive cashback program, with 6% cashback on U.S. supermarkets (up to $6,000 annually, then 1%) and select U.S. streaming services, 3% cashback on U.S. gas stations and eligible transit, and 1% cashback on other purchases.
High Limit Credit Cards For 700 Credit Score Example:
Suppose you have a 700 credit score and enjoy traveling. You might consider applying for the Chase Sapphire Preferred card. With a starting credit limit of $5,000, you could use the card to book a last-minute, all-inclusive vacation package for $3,000, without coming close to maxing out your credit limit. Plus, as you earn valuable rewards points on your purchases, you can redeem them for future travel bookings, making your vacations even more affordable.
Now that you have a better understanding of high limit credit cards for 700 credit scores, it's time to determine if they align with your financial goals and needs. Remember, these cards come with noteworthy perks and benefits, but they also require responsible usage to maintain good credit standing. Don't forget to explore other resources on Flik Eco to help you take control of your finances and make well-informed decisions. If you found this article helpful, please share it with your friends and family, and keep checking back for more personal finance tips and insights!
