I was just wondering what the criterion was for a credit card with a limit larger than 5 or 10k? Thanx!
In general, to qualify for those limits, you would need 7+ years history with 2-3 cards and a low balance/limit ratio. Anyone else want to share their opinions?
It varies from bank to bank. But one thing I've noticed is that a lot of them would want to see similar credit limits on your report before they'd give you a similarly high limit (and of course, having a good credit report). If you currently dont have a high limit, the way to get there is accept what they give you, be responsible with it, and pay on time.. etc, and request increases every now and then. Some banks are more liberal than others when it comes to granting increases though..
