Hi everyone! This is Emanuele with CreditCardguru.com!
Before I get started, its important to know that we do market various credit cards and other loan products on a commission basis. We do not offer financial advice in any form and this information is for educational purposes only.
Also, this video is being recorded on 1-15-22 and the information in this video is accurate as of this date. Any details of this offer may change in the future.
So…. Many people ask:
Which secured credit card has the highest credit limit?
Well, there are several good options for a secured card with a high credit limit, and we think we found a good one that offers a $10,000-dollar max credit limit! SCROLL DOWN TO APPLY ONLINE!
Now I have to say, that is probably one of the highest credit limits for a secured card that I have ever seen! Typically, I see credit limits of $500 or $1000 or $2000, but never before have I seen a limit of $10000!!!!!!
So, what does that mean?
Well, let me first explain what a maximum credit limit is.
A maximum credit limit is the absolute highest amount of money that the bank will permit you to deposit as collateral on your secured credit card. That amount becomes your credit limit, AKA your purchasing power on the credit card.
One might ask, why would a bank limit the amount you can deposit.
Well, we are not 100% sure as to every factor they considered, BUT we feel the most logical reason is simply to hedge their risk. One might ask, but wait! I thought the security deposit eliminates the risk to a bank?
Well yes, but what if you, as the consumer maxes out their limit and then incur interest charges that end up going higher than the limit? Then that is a potential loss of income for the bank.
You have to remember; a secured card is a credit building tool that the banks created to have a better option for those with no or bad credit. So, they had to manage their risk by having lower credit limits, higher fees and interest rates so they have higher margins, etc.
But in recent days, we are seeing a change. There seems to be more demand for secured cards with higher limits because there is more value with regards to building credit if your limit is higher. It permits you to charge more on your credit card and also keep your credit utilization under control.
There are a few other card offers out there that we saw that offer a $2000 and $3000 max credit limit, which are also pretty good limits.
But since today’s video is on which secured card offers has the highest credit limit, we are showcasing the card offer that we found.
It’s called The Sable ONE secured credit card!
Featuring is MAX credit limit of $10,000.00 dollars!!!
Now don’t forget, be responsible when using this secured credit card offer. Be sure to charge only what you can afford to pay off and make sure you make your payments on time.
Now there are many other features on this card offer that we covered in a previous video. You can see that link below as well or you can visit CreditCardGuru.com to review the offers terms and conditions and apply online!
Please note: This is not financial advice and this information is for educational purposes only. There is never a guarantee that a bank will accept you into their credit card program. Each application is reviewed on a case-by-case basis.
Today’s date is 1-21-2022 and this offer terms and conditions may change in the future