What is my personal credit limit?
A good credit limit is around $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income, and little to no existing debt.
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
Generally speaking, it may be helpful to have a reasonably high credit limit, but using a relatively low percentage of it. This often looks best to lenders, as it shows you can borrow credit, but you're not heavily reliant on it.
Ideally, your credit card limit should be high enough that you can use the card for necessary expenses while keeping your credit utilization ratio low—at least around 30%, but ideally lower. Credit limits for small businesses tend to be higher than personal credit limits.
Generally, your limit is included on your credit card statement or is available via your online account. You can also call the number on the back of your card to ask your provider.
Income: In most cases, your credit limit is directly proportional to your income. Higher income levels generally result in higher credit limits. The frequency of your income and its stability can also influence your credit limit. Even the nature of your job or business can influence this.
| VantageScore 3.0 credit score range | Average credit card limit |
|---|---|
| 300–640 | $3,481.02 |
| 640–700 | $4,735.10 |
| 700–750 | $5,968.01 |
| 750+ | $8,954.33 |
Despite those high balances, it's equally important to note that those with high credit scores also have high credit card limits. For those with 800-plus scores, their average credit card limits are $69,346. That's up from the $58,514 average we found in May 2021.
The bottom line
There's no magic amount of credit that a person “should” have. Take as much credit as you're offered, try to keep your credit usage below 30 percent of your available credit and pay off your balances regularly. With responsible use and better credit card habits, you can maintain a good credit score.
Do Lenders Look at Income to Determine Your Credit Limit? Yes, lenders typically ask you to state your income when applying for a credit card, and they may ask for verification in the form of a pay stub or income tax return. While this information is used in calculating your credit limit, it is not the only factor.
Is a $300 credit limit good?
A $300 credit limit is good if you have limited or bad credit. Credit cards for newcomers and people rebuilding their credit often have credit limits starting at $200, so a limit close to that amount is to be expected.
$500 — When you have a credit limit of $500, ideally your balance is $150 or less. $1,000 —If your credit line is $1,000, this means you should aim for a balance of $300 or less to maintain your credit utilization.
Credit card issuers determine your credit limit by evaluating factors like your credit score, payment history, income, credit utilization and large expenses. By understanding what they're looking for, you can manage your credit responsibly and increase your odds of getting approved for a higher credit limit.
It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.
While it is permissible to use 100% of your credit card limit, it is not recommended. Maxing out your credit card can adversely impact your credit score, limiting future borrowing options. Moreover, a high outstanding balance incurs substantial interest, putting you at risk of falling into debt.
A credit limit is usually determined by reviewing factors like credit score, credit history and debt-to-income ratio. A higher credit score and positive credit history may cause a lender to set a higher credit limit. Credit utilization and credit mix also tend to be considered when lenders determine a credit limit.
The average credit limit in the U.S. was $29,855 at the end of the third quarter of 2023. It ranged from an average of $12,899 for Generation Z to $41,906 for baby boomers. At Experian, one of our priorities is consumer credit and finance education.
There is no general starting credit limit for Capital One credit cards. Your credit limit will be based on your creditworthiness once your application has been approved.
Credit card limit calculators provide estimates based on general criteria like income, credit score, and existing debt. While they offer a useful guideline, actual limits may vary as lenders consider additional factors during the approval process. They should not be seen as exact predictions.
| Best High Limit Credit Cards | Forbes Advisor Rating | Credit Limit |
|---|---|---|
| Flipkart Axis Bank Credit Card | 4.0 | Up to 5 lakh |
| HDFC Regalia Credit Card | 3.5 | Up to 5 lakh |
| Axis Magnus Credit Card | 3.0 | INR 5 lakh |
| Axis Bank Reserve Credit Card | 2.5 | 5 lakh |
What's the highest credit card limit?
The highest credit card limit you can get is over $100,000 according to reports from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms.
A 750 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers. 25% of all consumers have FICO® Scores in the Very Good range.
Adam McCann, Financial Writer
Generally, a high credit card limit is considered to be $5,000 or more, and you will likely need good or excellent credit, along with a solid income, to get a limit of $20,000 or higher.
On our list, the Ramp Corporate Card and the Chase Ink Business Premier Credit Card offer the best opportunity to access a $100,000 credit limit. Ramp determines your spending limit based on factors like your cash on hand and monthly expenses, while Chase uses creditworthiness to calculate your credit limit.
Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.
