Life can be unpredictable, and you never know exactly what you may need to spend money on tomorrow. In these situations, you may suddenly need more spending power on your credit cards than you previously anticipated. Fortunately, there are credit and charge cards that allow you to make the charges you need.
If your credit score is good enough, you might be able to score an âunlimited credit cardââone without a preset spending limit. That’s not a free pass to go on a months-long shopping spree, of course, as these credit cards technically do have some limitations. But they can be a flexible way to manage your finances, especially if you manage large monthly expenses or travel a lot. Find out more about credit cards with no limits below and whether one might be right for you.
What a No Limit Credit Card Really Means
The phrase “no limit credit card” is a bit misleading. Technically, all credit cards have limits. It’s not in the interest of lenders to allow card holders to drive up balances with no end in sight.
When people talk about unlimited credit cards, then, they usually mean one of two things. First, they could mean a credit card with a very high limitâone you’d be unlikely to hit in the normal course of spending if you’re regularly paying off the card. These types of cards include exclusive invitation-only âblack cards.â
Second, and more commonly, they mean cards with no preset or published limits. Cardholders on these accounts are given a limit that’s unique to them, and it’s based on factors such as creditworthiness, income, and how long you have had an account. The credit limit might even fluctuate as you demonstrate continued or increased creditworthiness.
How to Determine if No Limit Credit Cards Are Right for You
Typically, these cards require good or excellent credit, so they aren’t something everyone can qualify for. The most exclusive cards with no preset spending limits are available only to individuals who receive an invite.
Cards with especially high credit limits or extremely flexible limits may also not be the right choice for someone who is in financial distress or already struggling to manage debt. It’s an unfortunate paradox that if you really need the larger credit line, you might be at greater risk of running up the credit card balance and digging yourself deeper in debtâand therefore unlikely to be approved for the larger credit line.
Need a card for fair or poor credit? Weâve got you covered.
Alternatives to No Limit Credit Cards
If you donât have great credit, you might want to consider a different option, such as a balance transfer card. If your credit is good enough, you can get a balance transfer card with a preset limit that lets you transfer high-interest debt and pay it off faster at 0% interest for a specific period of time.
If you’re doing well financially and would like the flexibility of a credit card with a high limit without the temptation of ongoing debt, you might consider a charge card. Charge cards are a type of credit cardâoften with high limitsâthat you have to pay off each billing cycle.
4 High Limit or No Limit Credit Cards to Consider
If a high limit card does sound like a good idea, you’ll want to research available options and choose the best one for your needs and preferences. Here are four to consider.
1. Chase Sapphire Preferred
Chase Sapphire PreferredÂ® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate RewardsÂ®. Plus earn up to $50 in statement credits towards grocery store purchases.
- 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for travel through Chase Ultimate RewardsÂ®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
- Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
- Type: Rewards credit card
- Credit Needed: Excellent,Good
- Ongoing APR: 15.99% – 22.99% Variable
- Signup bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.. That’s $750 when you redeem through Chase Ultimate RewardsÂ®. Plus earn up to $50 in statement credits towards grocery store purchases.
- Rewards: 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases worldwide
- Annual fee: $95
Once youâre approved for the Chase Sapphire Preferred card, Chase will designate a credit access line for your account. However, you are permitted to exceed the account on a case-by-case basis. And when you do exceed this amount, you will not be charged an over-limit fee. The decision to allow you to charge beyond your credit access line is based on your payment history, your income, and other factors.
2. American ExpressÂ® Gold Card
American ExpressÂ® Gold Card
- Earn 60,000 Membership RewardsÂ® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.
- Earn 4X Membership RewardsÂ® Points on Restaurants worldwide, including takeout and delivery.
- Earn 4X Membership RewardsÂ® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership RewardsÂ® points on flights booked directly with airlines or on amextravel.com.
- $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
- No Foreign Transaction Fees.
- Annual Fee is $250.
- Terms Apply.
- Type: Rewards
- Credit Needed: Excellent,Good
- Ongoing APR: See Pay Over Time APR
- Signup bonus: 60,000 Membership RewardsÂ® points if you spend $4,000 on eligible purchases with your new card within the first 6 months.
- Rewards: Earn 4X Membership RewardsÂ® points at U.S. supermarkets or at restaurants, including takeout and delivery, and 3X Membership RewardsÂ® points on flights booked directly with airlines or on amextravel.com.
- Annual fee: $250
The American ExpressÂ® Gold card is a card with a high-limit. With its Pay Over Time feature, this Amex card allows eligible charges of $100 or more to be carried across statements with interest. Other charges are due each month. You also get up to $120 in dining credits a year by earning up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
3. Mastercard Black Card
MastercardÂ® Black Cardâ¢
- Patented black-PVD-coated metal cardâweighing 22 grams.
- 2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent.
- 24/7 Luxury Card ConciergeÂ®âavailable by phone, email and live mobile chat. Around-the-clock service to help you save time and manage tasks big and small.
- Exclusive Luxury Card TravelÂ® benefitsâaverage value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties.
- Annual Airline Creditâup to $100 in statement credits toward flight-related purchases including airline tickets, baggage fees, upgrades and more. Up to a $100 application fee credit for the cost of TSA Pre✓Â® or Global Entry.
- Enrollment in Priority Passâ¢ Select with access to 1,300+ airport lounges worldwide with no guest limit. Includes credits at select airport restaurants for cardholder and one guest.
- Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite MastercardÂ® benefits.
- Annual Fee: $495 ($195 for each Authorized User). Terms and conditions apply.
- Type: Rewards/Cash Back
- Credit Needed: Excellent
- Ongoing APR: 14.99%
- Sign up bonus: n/a
- Rewards: Earn redemption cash back in the value of 2% if you redeem on airfare or 1.5% if you redeem for cash back.
- Annual fee: $495 ($195 for each Authorized User added to the account)
One of three products offered by Luxury Card, the Mastercard Black Card is truly luxurious. There is no official minimum starting limit for this cardâbut that flexibility comes with a cost. The annual fee is steeper than many can afford, but the card comes with $100 in airline credit and $100 in TSA Pre-check application credit every year, Exclusive luxury travel perks, and around-the-clock access to a concierge. It also includes a full range of traveler perks. Coupled with the rewards, this card can pay for itself when used by frequent travelers.
4. American Express Blue Cash Preferred Card
Blue Cash PreferredÂ® Card from American Express
- Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%.
- Plan ItÂ® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- $95 Annual Fee.
- Terms Apply.
- Type: Cash Back
- Credit Needed: Excellent,Good
- Ongoing APR: 13.99%-23.99% Variable
- Sign up bonus: Earn a $250 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
- Rewards: 6% cash back at U.S. supermarkets and some streaming services, up to $6,000 per year, then 1%; 3% cash back when spending at gas stations or on public transit; and 1% cash back on other purchases.
- Annual fee: $95
The American Express Blue Cash PreferredÂ® card comes with a lot of standard Amex benefits. Thereâs no overlimit fee, and its âPlan Itâ features allow you to create monthly payment plans with a fixed finance charge each month, rather than the ongoing APR.
No Limit Credit Cards and Your Credit Score
Paying on time and keeping your balance low is as important with these types of cards as with any other card. But you also need to consider your revolving credit utilization. Since these cards may not have a set or published limit, it’s important that you understand what the actual limit is and how it’s being reported. Check your credit report to see what limit is being reported so you know whether your credit utilization is high. Charge cards may not affect your utilization rate at all.
If you really want to dig in to your credit reports and the factors affecting your credit scores, consider signing up for ExtraCredit. ExtraCredit lets you access this information from all three credit bureaus whenever you want. That helps you best manage all of your debt, whether you have an unlimited credit card or not.
At publishing time, the Chase Sapphire Preferred, American Express Gold, Mastercard Black, and American Express Blue Cash Preferred cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for either of these cards. However, this relationship does not result in any preferential editorial treatment.
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
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