Q: I know credit limits vary from card to card and user to user, but what is the highest credit card limit you can have?
A: There isn’t really a limit to how high a credit limit can go. American Express reportedly has a card called the Centurion card that doesn’t have a credit limit. However, the annual fee is thought to be around $2,500, and you can’t apply—you have to wait for an invitation—so that’s not really an option for most of us.
For those of us who don’t have a multi-million dollar net worth, we probably can’t get an unlimited credit limit. There is also a lot of variation between the highest credit limit one person can get and the highest credit limit another can get. Someone with no credit history may only be able to get a $500 credit limit to start out, whereas someone with multiple cards and a good credit history may receive a $20,000 credit limit. Besides credit score, income is also a huge factor in what credit limit you will receive.
If you want a higher credit limit, it always helps to ask. Most credit card issuers give you an option of applying for a credit limit increase online, and sometimes will not even do a hard credit pull (which will drop your score around 5 points) when you request one. Unfortunately, in a recession, credit limit increases are a lot harder to get.
Whatever your limit is, don’t get too close to it. Using your card consistently but not ever going above a third of your credit limit is a good way to keep your credit score healthy.