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Key takeaways

  • The appeal of credit cards with $5000 limit guaranteed approval lies in their ability to provide a larger spending power and the opportunity to build or repair your score.
  • You can use a balance transfer credit card with a high limit to consolidate your debt. Consolidating multiple debts can make payments easier and save you money on interest.
  • If you’re looking for a higher credit limit, you can request an increase from your card issuer. Card issuers are happy to raise your limit if you’ve been a reliable customer or have a larger income.

A $5000 credit card limit with no deposit is a useful product to have. It can increase your spending power, make it easier to finance large purchases, improve your score, and cover unexpected expenses. The problem is a high limit credit card can be hard to find.

Applicants should have a good to excellent score to qualify for credit cards with a minimum $5000 limit, as these cards are often reserved for consumers with proven creditworthiness. Some issuers are willing to give you a chance no matter where your score falls. This can be very helpful as many consumers are on the lookout for a credit card with a $5000 limit to help manage larger expenses and consolidate debts.

Read on to find the best credit cards with 5 000 limit guaranteed approval and how to use them.

Best secured credit cards with a $5,000 limit and easy approval

Obtaining a credit card with a $5000 limit with bad credit can be challenging, but certain secured cards offer this opportunity with a corresponding deposit.

Secured credit cards are a good option since they are very easy to qualify for – they are the closest thing you will find to guaranteed approval. To start using a secured card, you will have to put down a security deposit equal to the limit you want. To get a secured credit card with a $5,000 limit, you’ll have to put down a $5,000 deposit.

The beauty of these cards is that most do not carry out a credit check or have a minimum score requirement making them very easy to be approved for. Use them to improve your score by paying all your bills on time and keeping your utilization low. Once you have a good score, you’ll be eligible for an unsecured card with a high credit limit.

Build Credit with Every Swipe

A New Way to Build Credit

Build Credit with No Annual Fee

Current Build Card

Earn cash back with each purchase Get credit for banking you do every day No credit checks or minimum security deposit
Credit Check
Recommended Credit Score
Minimum Security Deposit
AutoPay so you’ll never miss a payment.

Current’s Build Card provides a unique path for people with low scores to raise them. It doesn’t require a security deposit or hard inquiry. But you must have a Current Spend Account to apply.

  • APR: 0%
  • Annual Fee: $0
  • Monthly Maintenance Fee: $0
  • Late Payment Fee: 3% of the total outstanding balance
  • Foreign Transaction Fees: 3% of the total transaction amount
  • Cash Advance Fee: $0 if from an in-network ATM
  • Out-of-Network ATM Fee: $2.50 per transaction
  • Limit Increase Fee: N/A
  • Card Replacement Fee: $5 per card ($30 for expedited delivery)
  • Credit score range of 350-850 (Poor-Exceptional)
  • No credit check
  • No interest
  • No security deposit required
  • Enable AutoPay so you never miss a payment
  • Earn points for cash back
  • Reports payments to TransUnion
  • Must have a Current account to be eligible
  • Use anywhere Visa® is accepted

“I love the fact that I get notifications everytime I use it so it’s easy to track where my money is. I’ve also loved the fact that the build card has helped me raise my credit!”

Kelsey, Trustpilot Review

Current’s Build Card is designed to help users raise their ratings responsible use without going into debt. This secured card is unique because it has no minimal security deposit requirement. Instead, you use the money in your Current Spend account to set your limit. This does mean that you have to have a Current Spend account in order to qualify.

The card features low fees – no annual fee – and no interest charges. To avoid a late fee, users can turn on AutoPay and Current will pay their bill on time at the end of the month.

The app also sends transaction alerts and the ability to freeze or unfreeze your account instantly.

Chime Secured Credit Builder Visa®

No annual fee or interest No credit check No minimum security deposit required
Credit Check
Recommended Credit Score
Minimum Security Deposit
Use your security deposit to pay your monthly balance.

The Chime Secured Credit Builder Visa® Credit Card is a rare find. You don’t have to undergo a hard inquiry to apply, there’s no minimum security deposit requirement, nor is there an annual fee or interest charges. If these perks appeal to you, it’s definitely worth a look.

  • APR: 0%
  • Annual Fee: $0
  • Monthly Maintenance Fee: $0
  • Late Payment Fee: $0
  • Foreign Transaction Fee: $0
  • Cash Advance Fee: $0 if from an in-network ATM
  • Out-of-Network ATM Fee: $2.50 per transaction
  • Limit Increase Fee: N/A
  • Card Replacement Fee: $0
  • Optimal score range: 300-669 (Poor-Fair)
  • No credit check
  • No interest
  • No annual fee
  • No minimum security deposit
  • The Safer Credit Building feature ensures you never miss a payment
  • Reports payments to the three major credit bureaus
  • Must have a Chime Checking Account and qualifying direct deposit to be eligible
  • Use anywhere Visa® is accepted

“I’ve tried a couple different banking/credit cards that are supposed to help your score, none of them are even worth considering anymore. Chime is very simple to set up and use. I’ve had absolutely no trouble doing anything with their cards, my score is steadily increasing. The direct deposits are always there on time, many times appearing early.”

David Lemon, Google Play Review

Chime’s Secured Credit Builder Visa is a no-annual-fee secured card that aims to make enhancing your score simple and accessible. Unlike traditional cards, Chime does not require a credit check or a minimum security deposit. The money in your Chime checking account sets your limit. To be eligible, you must have both a Chime checking account and receive qualifying direct deposits.

The Credit Builder Visa card’s activity is reported to the three major credit bureaus, assisting users in improving their scores. Additionally, Chime offers features like a Safer Credit Builder option that will automatically pay your bill once you turn it on.

No annual fee or interest No credit check Low minimum security deposit of $100
Credit Check
Recommended Credit Score
Minimum Security Deposit
Monthly credit bureau reporting

The Go2bank Secured Visa® Credit Card makes it easy to improve your score. There is no credit check, a low minimum security deposit, and no annual fee making it easy to qualify for and enjoy the card.

  • APR: 22.99%
  • Annual Fee: $0
  • Monthly Maintenance Fee: $0
  • Late Payment Fee: up to $39
  • Returned Payment Fee: up to $20
  • Foreign Transaction Fee: 3% of transaction amount
  • Cash Advance Fee: 5% or $10, which ever is greater
  • Over the Limit Fee: None
  • Optimal score range: 300-669 (Poor-Fair)
  • No credit check
  • No annual fee
  • Low minimum security deposit of $100
  • Reports payments to the three major credit bureaus
  • Must have a Go2bank Checking Account
  • Receive direct deposits totaling at least $100 in the past 30 days to be eligible
  • Use anywhere Visa® is accepted

“Made it easy to open an account and my first card also helping me build my credit so I can have some kinda positive credit and not none”

Stephanie Carmichael, WalletHub Review

Go2bank’s Secured Visa® Credit Card targets individuals looking to improve their scores through responsible use. The minimum security deposit is a low $100 – most secured cards require at least $200 to use them – making Go2bank an affordable option. The fully refundable security deposit sets the card’s limit.

Go2bank reports payment activities to the major credit bureaus. Pay your bills on time and keep your usage low and you can use it to improve your score. The card also features a low APR and no annual fee, making it a cost-effective option for raising your rating.

You do have to have a Go2bank active bank account and direct deposit in order to qualify. Their bank account is easy to be approved for as it does not require a credit check. You can get your direct deposit up to two days early plus a 4.50% APY on savings – Over 10x the national savings rate average.

Want an unsecured credit card with a $2,000 limit?

We have options for you! Find the right high limit card for your credit score.

What credit score is needed to get a 5000 limit credit card?

The score needed to qualify for a card with a $5,000 limit varies depending on the issuer and the type of card. Generally, to access higher limits, a good to excellent score is necessary. This typically means a score ranging from the upper 600s to 850 on the FICO scale.

Very good to excellent scores ranging from 740 to 850 are more likely to be approved for higher credit limits. Applicants in this range are considered lower risk, and issuers are more comfortable offering them more substantial limits.

It’s important to note that factors such as your income, existing debts, and your relationship with the financial institution (e.g., if you’re a long-time customer) can also influence the limit you’re offered. For instance, if you have a moderate income but few existing debts the issuer may feel comfortable giving you a higher limit.

Go to MoneyFor to learn more about your score.

How many credit card accounts can you consolidate?

Consolidation is one way to deal with high interest debt. This is when you consolidate multiple balances onto one card. The goal is to make it simpler to pay off your debts by only having one bill and to save money on interest.

The number of accounts you can consolidate depends on various factors, including the consolidation method you choose and the issuer’s policies.

  1. Balance Transfers: With a balance transfer, you can consolidate multiple balances onto one card with a lower interest rate or promotional 0% APR. Be sure to pay off your debt before the promotional 0% APR ends or you may be charged interest on the initial amount. The number of accounts you can consolidate depends on the limit of the new card and the terms set by the issuer.
  2. Debt Consolidation Loans: Debt consolidation loans allow you to combine multiple debts into a single loan. The number of accounts you can consolidate depends on the loan amount and the lender’s policies.
  3. Debt Management Plans: Debt management plans involve working with a credit counseling agency to consolidate multiple debts into one monthly payment. In this case, all enrolled accounts are typically closed, and you make payments to the credit counseling agency, which distributes the funds to your creditors.

Some issuers may have specific policies regarding consolidation. For example, they may allow you to combine accounts from the same issuer onto one or two cards while keeping the total limit intact.

It’s important to note that the specific details and limitations of debt consolidation can vary depending on the method chosen and the policies of the issuers. It’s recommended to consult with a financial professional or credit counseling agency to determine the best consolidation approach for your situation.

Read more about how to deal with credit card debt.

How much debt can you transfer?

The amount of debt you can transfer to a card depends on it’s limit and the policies of the card issuer.

  1. Credit Limit: The limit on your new card determines the maximum amount of debt you can transfer. The limit you’re given is determined by factors such as your score, income, and creditworthiness.
  2. Percentage of Limit: Some issuers may limit the total balance(s) you can transfer to a certain percentage of your limit. For example, you may be allowed to transfer up to 80% of your limit.
  3. Specific Dollar Amount: In some cases issuers may have a specific dollar amount limit on the balance transfer. This means you can transfer up to a certain amount, regardless of your limit.
  4. Same-Issuer Transfers: It’s important to note that same-issuer transfers are generally not allowed. For example, if you want to transfer a balance from one card issued by a particular bank, you typically cannot transfer it to another card issued by the same bank.
  5. Balance Transfer Fees: When considering a balance transfer, it’s important to factor in any balance transfer fees. Most cards charge a fee ranging from 3% to 5% of the total transfer amount.

It’s recommended to review the terms and conditions of the specific card you are considering for a balance transfer to understand the limitations and requirements.

Good debt management is essential for the health of your score.

How does a bigger credit line help boost my credit score?

If you’re approved for a credit card with a $5000 limit, you’ll have more flexibility to make significant purchases and all while maintaining a low utilization ratio. A higher limit will make it easier to maintain a low utilization ratio. Your utilization ratio is one of the biggest factors affecting your score. This is the amount you’ve spent – your current balance – compared to your total limit. Experts recommend keeping your utilization ratio below 30%.

By having a bigger limit, your utilization ratio can decrease if you maintain the same level of spending. This lower utilization ratio can positively impact your score.

If your credit card limit is $5000 and your current balance is $4500, you’re nearing your limit, which could trigger higher interest charges on new purchases. It’s better to keep your limit below $1,500 or 30%.

A higher limit can also demonstrate to lenders that you can handle borrowing larger amounts of money. Consistently using your card and making timely payments shows that you are a reliable borrower, which can positively impact your score.

It’s important to note that while a bigger limit can potentially boost your score, it’s crucial to use the increased spending power responsibly and avoid accumulating excessive debt. Making timely payments, keeping your utilization low, and practicing good financial habits are key to maintaining a positive score.

What to do when your credit limit is too low?

If your limit is too low it’s time to get an increase. Most financial institutions will review their customers’ accounts periodically and issue increases automatically if they qualify. The issuer may offer to upgrade you to a better card or increase your initial limit.

Fortiva Mastercard® is a high limit option for low scores that periodically reviews you account to increase your limit.

Surge Platinum Mastercard® and FIT Platinum Mastercard® do one better by automatically doubling your limit after six months of on time payments.

If you can’t wait for an automatic increase, then you can request one. The best times to get an increase are after a period of consistent on-time payments, when your score has gone up, or after you’ve received a raise.

To get a higher limit you can:

  • Request an increase online: Most issuers will let you request an increase online via their website or app. You will likely have to show that you qualify for an increase with proof of a higher income or better score.
  • Call customer service: If you need to give more of an explanation or prefer human-to-human contact, you can always call customer service.
  • Increase your income: Put down all sources of income. This includes spousal income, alimony, child support, rental income, etc. If this isn’t enough, you can always get a part-time job to bring in more money. In general, the higher your income, the higher your limit.
  • Apply for a new card: You can always apply for another card which will increase your cumulative limit.
  • Become an authorized user: As an authorized user on a friend or family member’s card you have access to their spending limit.

How does a guaranteed approval $500 limit credit card sound?

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Use your income to get a 5000 credit limit card

To secure a card with a $5000 limit, leveraging your income effectively is crucial. Issuers often consider your income level as a significant factor in determining your limit because it reflects your ability to repay the amount you borrow. Here are some strategies to use your income to increase your chances of obtaining a $5000 limit:

  1. Report All Income Sources: When applying for a card, ensure you report all possible income sources, not just your primary salary. This can include part-time jobs, freelance work, investment returns, and any regular financial support you receive, such as alimony or rental income.
  2. Update Income Information Regularly: If your income increases after you have applied for a card, update this information with your issuer. They may offer to increase your limit based on your higher income.
  3. Maintain a Low Debt-to-Income Ratio: Your debt-to-income ratio is a critical factor issuers consider. It’s calculated by dividing your monthly debt payments by your monthly income. Keeping this ratio low indicates that you are not overextended and can handle additional debt.
  4. Apply for the Right Card: Choose cards tailored to consumers within your income range. Some cards are specifically designed for high earners or offer higher limits to match higher income levels.

By demonstrating financial stability and a responsible borrowing history, you can effectively use your income to secure a card with a desirable $5000 limit.

Balance transfer credit cards with high limits

Balance transfer cards with high limits offer a strategic way to manage and consolidate existing debt. These cards typically come with introductory periods of low or zero interest, allowing you to transfer balances from other high-interest cards and potentially save on interest payments. Here’s how to find and make the most of these cards:

  1. Look for Generous Introductory Offers: Search for cards that provide lengthy zero or low-interest periods on balance transfers. This feature can give you enough time to pay down your debt without accruing additional interest.
  2. Check for High Limits: Ensure the card offers a high enough limit to accommodate the debt you wish to transfer. Higher limits will be more readily available to applicants with good to excellent scores.
  3. Understand the Fees: Most balance transfer cards charge a fee for the service, typically ranging from 3% to 5% of the transferred amount. Calculate whether the interest savings will outweigh this fee.
  4. Examine the Regular APR: After the introductory period ends, the card’s standard APR will apply to any remaining balance. It’s important to know this rate and assess if it’s manageable in case you don’t pay off the balance in full during the introductory period.
  5. Plan Your Payments: To make the most out of a high-limit balance transfer card, have a clear repayment plan in place. Aim to pay off the entire transferred balance within the introductory period to maximize savings on interest.

By carefully selecting a balance transfer card with a high limit and favorable terms, you can effectively reduce your debt burden and work towards financial stability.

Frequently Asked Questions

Yes, a $5000 limit is pretty good for most people. It offers enough flexibility for moderate purchases and emergency expenses while also allowing for a low utilization rate, which is key for building a good score. However, the appropriateness of this limit really depends on your individual financial situation and spending habits.

Yes, you can get a card with a $5000 line, especially if you have a good to excellent score (670 and above). Factors such as your income and debt-to-income ratio also play significant roles. To be eligible for high limit cards pay off your debts, pay all your bills on time, and maintain a low usage rate.

The easiest cards to get approved for with high limits are typically secured cards, where the limit is set by the deposit you make. For unsecured cards, store cards often have more lenient approval requirements and can offer high initial limits, especially if you have a fair score or better.

A card with a high starting credit limit will be a premium card. Examples include the Chase Sapphire Reserve or Platinum Card from American Express. These cards typically require excellent scores and come with significant benefits. Approval and high limits are generally based on strong scores, high income, and a solid history.  

Bottom Line

If you find yourself thinking, “I need a credit card with a $5000 limit,” it’s important to review your financial situation to ensure you can handle the increased purchasing power responsibly and take a hard look at your score. If your score falls below 670 it’s time to improve it so you can get the high limit card you want.

Raising your rating means following a few simple rules – always pay your bills on time, keep your balances low, and apply for new accounts sparingly. Do this and you’ll see your score go up.

Once you get your score into the good to excellent range, you will qualify for unsecured credit cards with high limits.

About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.