Card Comparison: High Credit Limit Cards - October 2008
At a time when housing market crashes, lenders are reducing home equity line of credit, also know as HELOC, a source of funding many Americans use during the boom of housing market.
Net home equity extractions fell nearly 60 percent from a year earlier to $205 billion in the first quarter, according to Merrill Lynch. The investment bank also notes that some $1.2 trillion in equity and housing wealth was wiped out in the first quarter alone because of plunging home values.
At the same time, revolving credit usage — which includes credit cards — accelerated sharply to a year-over-year growth rate of about 8 percent in recent months. That’s the fastest rate in seven years and well ahead of the 2 to 3 percent rate of growth from 2004 through 2006 when home equity lines of credit were a bigger source of cash for consumers, according to Merrill.
At a time like this, you might want credit cards with high credit limits. Usually credit limit is set at the time when credit card company approve your application, known as “initial credit limit”, then depends on your account activity, and your ability to pay bills, credit card companies can adjust it up or down afterwards. Initial credit limits for a certain credit card are usually a range depends on the credit history of applicant. Not all credit cards publicize their initial credit limits, for those that do publicize this information, I am listing those cards sorted by maximum initial credit limit and credit quality required.
| Card Name | Card Type, Credit Quality | Initial Credit Limit (Lower ~ Higher) | |
 |
Gold Delta SkyMiles® Credit Card |
consumer card, require Excellent Credit | ~ $100,000 |
 |
Advanta Business Platinum Rewards MasterCard® |
business card, requires Excellent / Good Credit | ~ $50,000 |
 |
Advanta Business Platinum MasterCard® |
business card, requires Excellent / Good Credit | ~ $50,000 |
 |
Capital One No Hassle MilesSM Ultra - For Professionals |
consumer card, requires Excellent Credit | $500 ~ $30,000 |
 |
Chase Business Cash Rewards Card |
business card, requires Excellent / Good Credit | ~ $25,000 |
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Chase Platinum Visa® Business Card |
business card, requires Excellent / Good Credit | ~ $25,000 |
 |
Chase Business Rebate Visa® |
business card, requires Excellent / Good Credit | ~ $25,000 |
 |
Capital One Visa® Business Platinum with Double No Hassle MilesSM |
business card, requires Excellent Credit | $2,000 ~ $20,000 |
 |
Capital One Visa® Business Platinum with No Hassle MilesSM |
business card, requires Fair Credit | $500 ~ $20,000 |
 |
Capital One Platinum Prestige - Visa |
consumer card, requires Excellent Credit | $2,000 ~ $20,000 |
Important Disclaimer: the credit cards information in this post were accurate as of the date of publishing, some or all of the card programs may be discontinued, their terms may be changed after wards.
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[…] As promised, I am showing here the updated list of credit cards with high credit limits. The credit crunch has a clear impact to availability of credit, the number of available credit cards shrinks drastically comparing with my previous list: […]