A $1,000 credit limit is good for a first credit card when you're just starting out, as new cardholders often get much lower spending limits to start out with. Some popular starter credit card offers have minimum credit limits as low as $200 or $300.
The exact credit limit assigned to any first-timer depends on their income, outstanding debts and other financial obligations, as well as whether they have any credit history from things other than a credit card account. If a $1,000 limit feels too low, most major credit card companies let you increase your credit limit after at least six consecutive months of on-time payments.
The highest limits and best credit card offers likely won’t be available to you yet, but there are several good options for a first credit card. Once you’ve built up good or excellent credit, you may be able to qualify for certain high limit credit cards if you have enough income.
This answer was first published on 04/07/23 and it was last updated on 03/12/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
