Question
I am just curious to find out what is the maximum credit that Mastercard and Visa allow on their cards. I know it is probably determined individually by Banks and Credit Unions. Thanks in advance.
Answer
I am just curious to find out what is the maximum credit that Mastercard and Visa allow on their cards. I know it is probably determined individually by Banks and Credit Unions. Thanks in advance.
Credit limits are determined by the issuing bank, not by Visa or MasterCard (the card associations). MBNA says that they issue credit lines as high as 100K.
Answer
The highest one I have is $25k (MBNA Quantum Mastercard). Higher than that is certainly possible in theory but isn't really much more useful for anything I can think of. There are very few emergencies where you'd really need to be charging tens of thousands of dollars to a credit card all at once. Having multiple cards works just as well.
And yes, the limits are set by the banks. I'm pretty sure I've gotten an app or two in the mail over the years that suggested a possible limit of $150k, though I don't recall which bank(s) they were from.
Answer
The highest one I have is $25k (MBNA Quantum Mastercard). Higher than that is certainly possible in theory but isn't really much more useful for anything I can think of.
The highest limit possible is very useful on those cards offering a 0% no fee balance transfer deal. The Citibank ones allow you to order a check to yourself for $1 less than the full limit, and count this as a balance transfer under the 0% deal. That's a free loan of money you can deposit into an interest bearing account until you have to pay it back.
Answer
The highest limit possible is very useful on those cards offering a 0% no fee balance transfer deal. The Citibank ones allow you to order a check to yourself for $1 less than the full limit, and count this as a balance transfer under the 0% deal. That's a free loan of money you can deposit into an interest bearing account until you have to pay it back.
True enough. I was thinking only in normal terms, not of the intro offers. Although the highest limit I've ever gotten with a brand new card I think is $15k (though it's certainly possible that some might be able to get higher ones right off).
Answer
True enough. I was thinking only in normal terms, not of the intro offers. Although the highest limit I've ever gotten with a brand new card I think is $15k (though it's certainly possible that some might be able to get higher ones right off).
Apparantly Citigroup/Citibank maximum credit limit is $250,000. Does anyone know of a card that has a higher max?
Answer
Businesses or organizations can get $1MM cards.
Answer
And it keeps going up with me asking. :confused:
Answer
And it keeps going up with me asking. :confused:
:eek: Which credit card do you have?
Answer
Merrill+ Visa "Up to $250,000 Credit Line" (https://rewards.ml.com/MLRewardsCenter/View-Cards/MERRILL.htm)
Answer
I have a Visa line of almost $26K (MBNA).
I can't figure out why they gave me that much. I will never come close to charging near the limit on that one. And, my other card issuers hasn't come close.
Answer
One of our Citi cards has the limit "$42,200". I have no idea why they added "200" somewhere along the line.
Answer
Yeah, the extra 100s is kinda funny. It has become prevalent in my CLs though. The MBNA I mentioned several months ago now has a 28,800 CL. Whatever.
Answer
Well, Chase just recently increased my credit line without asking (fine by me) and I always presumed that credit lines came in 100 increments. Not in this case my line was increased by $3220. Yes that is right, they didn't make it $3200 but instead decided I deserved an extra $20. I found this quite humorous and am extremely amused by that extra generosity. My credit line on this card is relatively decent but not is higher than my Bank One Credit card which chase now owns and I have held for 4 years without a single credit line increase. Makes you wonder what kind of loyalty Bank One has to their customers and whether the computer integration has not been completed yet.
JC
Answer
Well in theory a Visa Signature card is like an Amex and has no limit based on your spending and payment patterns. The only difference is that you must pay if full any amounts over your credit line when the bill is due.
Answer
I have a AAdvantage (Citi) with a 75k limit, and SPG AMEX with a 75k limit and the no-limit AMEX. I have frequently maxed out the limited cards during some busy months. I am sure they would give more if asked, in fact I believe Citi will increase your limit annually simply for asking if you are a customer in good standing.
Jim
Answer
My experiences have been that MBNA and Citi give the most generous credit line, while Capitol One and Discover are the most stingy.
Answer
OK, 50 grand on a credit card is an insane amount. Can you imagine the price of the payment if you buy a HUGE item... like a car?
Answer
OK, 50 grand on a credit card is an insane amount. Can you imagine the price of the payment if you buy a HUGE item... like a car?
No but I can imagine the size of a minimum payment on 50 grand cash advance at 0% for 9 months of only 100 bucks each month ;)
Answer
If you get some of their business line of credit cards people like myself frequently spend upwards of 100k a month paid in full on some of these cards.
Answer
I have over $40,000 limit on a personal United Airlines card.
Answer
OK, 50 grand on a credit card is an insane amount. Can you imagine the price of the payment if you buy a HUGE item... like a car?
This makes me nostalgic for the days (just a couple of years ago) when I could
charge $30,000 of U.S. Saving Bonds every month or two, selling some
previously-purchased bonds a couple of months later to pay the bill. The money
just cycled around and around, earning about 800,000 miles by the time the
game came to an end..
--ss
Answer
This makes me nostalgic for the days (just a couple of years ago) when I could
charge $30,000 of U.S. Saving Bonds every month or two, selling some
previously-purchased bonds a couple of months later to pay the bill. The money
just cycled around and around, earning about 800,000 miles by the time the
game came to an end..
--ss
How did you pull that off? I thought there was always a 30K gov't limit yearly on bond purchases (now 60 if you do both electronic and paper) - even back when you could use a CC to buy them.... am I wrong?
Answer
How did you pull that off? I thought there was always a 30K gov't limit yearly on bond purchases (now 60 if you do both electronic and paper) - even back when you could use a CC to buy them.... am I wrong?
Your information isn't exactly wrong: it's just incomplete.
The annual limit applies separately to I bonds and EE bonds, so the
total was actually $45k for a while and then it increased to $60k
shortly before the end.
While reading the fine print in the Code of Federal Regulations, I
came upon the useful fact that purchases would not count toward the
annual limits if the bonds are purchased and then redeemed in the same
calendar year. Until pretty late in the game bonds only had to be
held for 6 months. So by buying and selling every 6 months, you
doubled (yet again) the amount you could purchase.
Finally, bonds purchased in the names of two owners would count
only toward the annual limit of the one listed first. If you're
in a family of four you could pretty easily quadruple your
purchases, and still be playing it strictly by the rules.
--ss
Answer
One trick to getting a higher line of credit: apply for a new card with same issuer then call to merge the 2 cards.
Chase denied my request for a higher line of credit (27K) on my Cash Plus Rewards but had no problem issuing me a new UA card (10K, no annual fee first year, 20K UA miles). I'll call to merge the UA card at the 6 months mark (where they can't take the signup bonus away anymore).
It's probably better to cancel the newer card, credit score wise, especially if you have had the old one for a long time.
Most Visa and MC issuers will do the merge on the spot. Amex will do right away only if you call the right (non-India) CS number, otherwise it can take 10 days if at all.
Answer
I may be able to help one this one for the highest:
My company has a Visa card with a $2,500,000 limit on it.
We're a health insurance company and have it in the event that we need to pay for services at non-contracted facilities in foreign countries that will let you basically die on a table unless they get up-front payment (i.e., many third world countries).
I only know about us having to use it one time when a member needed emergency surgery at some hospital in Central America and we paid the ~$220,000 bill by giving the hospital the credit card number over the phone. They weren't going to touch the person unless they had guaranteed payment.
I'll have to find out who the issuing bank is!