How To Get Approved For A Credit Card With A High Limit

The first step in getting approved for a high limit credit card is to prepare yourself well in advance for application. Most unsecured credit cards that regularly approve applicants with poor credit are offered by subprime credit card issuers or banks who specialize in high risk applicants.

Previously you must understand the background of Credit and get some How to get approved for a credit card with a high limit references in other articles on this website.

To make up for the higher risk of loss inherent in the subprime demographic these cards tend to charge higher interest rates than prime credit cards as well as providing lower credit limits.

How to get approved for a credit card with a high limit. Pay off any old loans and take an average credit card first. That s why secured credit cards are the key to getting a high limit despite a low credit score. A secured credit card s credit limit is equal to the deposit amount.

The best way to get a credit card with a 5 000 limit with bad credit is to apply for the harley davidson secured card and place a 5 000 security deposit. Choose one card to request an increase on. Don t assume if you ask all of your credit issuers that your chances of being approved are greater.

Pick a card in your wallet you want to have the limit increased on. When you request an increase the issuer will need to pull your credit history to see if you re creditworthy. Without that risk the issuer can offer a much higher credit line than unsecured issuers can offer.

If your credit isn t already positive or if you ve had a few slips on the way and are currently rebuilding now isn t the time to apply for more credit. But most secured cards do not allow deposits as high as 5 000. You can qualify for a higher limit with almost any credit card as long as you have a good or excellent credit score and a stable income but there are some high limit cards that offer a minimum.

For example if you have a 20 000 limit card with an issuer and want to apply for a second card with a 10 000 minimum limit from the same issuer you might not be approved for the new card if the issuer is only willing to extend you 25 000 of total credit. Secured cards require a cash deposit that acts as collateral for the credit line reducing the risk to the issuer.

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