Top 3 Credit Cards with $5,000 Limit

Author: Artem Hihach

Many card companies do not advertise their credit limits, but a few do include a minimum credit limit in their pricing and terms. 

Before applying for a credit card, ensure=you read the terms and ad text to know what to know about their limitations. In most cases, you won’t know your precise credit limit until your application is approved. 

Credit limit varies based on credit score and income. If you were given a card with a smaller credit limit than you wanted, you can seek a credit limit increase by calling your issuer or submitting a request via email.  

After the first few months, certain issuers may automatically boost your credit limit if you have made consecutive on-time payments.

Pay Off Zero Percent With Your Credit Card

If you want to pay off one credit card amount with another, this is usually not doable. Banks will not let you settle your credit card bill with another credit card. The only time it makes financial sense to pay off a credit card payment this way, is if you’re transferring a credit card debt to one with a cheaper interest rate, particularly one with an initial 0% APR offer.

This is called a “balance transfer,” and it is the only time you may pay off one credit card with another. 

The best credit card with a $5,000 limit

We’ve compiled a list of the three finest credit cards Issuer with a $5,000 credit limit, a low annual fee, and handy benefits.

• Chase Freedom Unlimited

With Chase Freedom Unlimited, you can acquire a credit card with a $ 5,000 credit limit and an annual fee to take advantage of the perks of this card. Additionally, you can earn a $200 incentive after spending $500 on purchases during the first three months of opening your account. You can also collect 5% cashback on petrol station purchases and up to $6,000 in the first year. Furthermore, you can earn 5% back on travel, 3% back on restaurant dining, and 1.5% back on all other purchases. 

• Chase Sapphire Preferred

Chase Sapphire allows new users can earn up to 80,000 points when they spend $4,000 of their credit in the first three months of activating their accounts. The 80,000 points are worth $1,000 if you redeem with Chase Ultimate Reward. Chase Sapphire offers the same cashback earnings as the Chase Freedom Unlimited but with a $95 annual fee. This is because their card is more suitable for business transactions.

• Secured Sable ONE Credit Card

This card has one of the largest credit limits available for secured credit cards; $10,000. But unlike other secured credit cards, which sometimes require a minimum security deposit of roughly $200, the Secured Sable ONE Credit Card does not. In addition, the card has a low APR of Prime + 6.99 percent (variable), excellent purchase rewards, and a $0 annual fee.

Credit Line

When you use credit cards, you must keep track of your expenditures. It’s easy to overspend, and small purchases may quickly pile up. Most users do not understand how much these sporadic purchases cost them until they look back.

A credit card is not a resource for everyday buying. It should be used for a major purchase, emergency, or when you don’t know how much money you’ll need to borrow upfront. For example, if you need to pay for unexpected home repairs or you have out-of-pocket payments for continuous medical treatment and you are not sure how much they’ll cost.

Conclusion

Mentioned in this article are vital information that can help you to choose the right credit card for your personal use. If you are a business-oriented person, you can check out Chase Sapphire features to know if it suits you.