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Credit cards with high limits

High limit, or premium, credit cards have credit limits of many thousands or sometimes no credit limits at all, but who can have one?

High limit credit cards are aimed at wealthier individuals with good credit scores and offer a host of elite benefits on top of high spending limits.

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Compare the rewards and benefits of premium cards

How high is a high credit limit?

In theory, there is no limit on some premium credit cards, but the majority of high credit limit credit cards, will offer a limit somewhere in the tens of thousands.

Also with the premium credit cards that have no limit, purchases will be assessed on case by case basis - if the card provider thinks you can pay back a purchase they will approve it.

Your credit score and credit limit

Your credit limit will be set by your credit score. For obvious reasons high limit premium credit cards tend to only be available to those who have the very best credit scores.

The average credit card limit in the UK is between £3,000 to £4,000. If you'd like to get a premium credit card for a higher limit, you should check your credit score before applying and make sure it's very good.

Is there a minimum income requirement for a high limit card?

You will need to meet a minimum income requirement for premium cards, especially for cards with no credit limits. This can be anywhere from £20,000 per year at the lower end of the spectrum, all the way up to having a 'high net worth' (ie being a millionaire)

For the elite premium cards you may also need to spend a minimum amount with the card each month to be eligible.

What rewards can you get with high limit cards?

Often premium cards include a range of exclusive rewards as a perk. These can include:

  • Frequent flier miles

  • Companion tickets

  • Access to first class lounges at airports

  • Tickets for music, theatre and other events

  • Travel insurance

  • Breakdown cover

Are high limit cards worth the cost?

Expect to pay some hefty annual fees to enjoy access to a premium card, this could be several thousand pounds or as low as £24-£100.

Also if you can't pay off your balance in full each each month you're likely to be charged penalty fees or interest.

Often the cards with the highest (or no) limits tend to be charge cards, which actually don't offer a borrowing facility and require you to repay your balance in full.

But, if you think you're going to use it and you need a high credit limit as you find yourself making large purchases regularly.

If you don't think a premium card is quite right for you, but you still want to enjoy perks with your credit card you could consider a reward credit card, which are typically less expensive.

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What high limit cards are available?

Famously American Express offer a range of high end credit cards, but there are many other premium credit cards on the market you can take a look at our tables to see what's available.

The ultimate premium card: American Express Centurion Card

This card is something of a legend, it famously has no credit limit. It's typically only used by millionaires and businesses to make very large purchases.

It also includes a concierge service, which can arrange VIP tickets, book restaurants and are rumoured to carry out more or less any errand (provided it's legal).

In fact the largest credit card purchase ever used a Centurion Card  - $170 million for Amedeo Modigliani's painting the "Reclining Nude", purchased at a Christie's auction house.

How can you get an American Express Centurion card

American Express doesn't publicly disclose the requirements necessary for getting or keeping a card, except you must have a substantial net worth and be a former platinum card holder.

But it's thought you need to spend $250,000 (American Express use dollars as a US based company) a year on it to qualify and an annual fee of $2,500 applies as well as a $7,500 'invitation fee'.

Compare premium credit cards

Compare the rewards and benefits of premium cards