How to Get a High-Limit Business Credit Card
There are a host of reasons you may be wondering how to get a high-limit business credit card. Whether you need to purchase inventory or finance manufacturing equipment, having access to an increased line of credit can help you reach your business goals.
Here’s everything you need to know about qualifying for and choosing the best high-limit business credit card for your needs.
Table of contents
How a high-limit business credit card works
High-limit business credit cards are cards with a credit limit between $5,000 and $10,000, or sometimes more. These cards allow cardholders to make more purchases or withdraw a cash advance, then pay for it later—which can be an important tool for small business owners with startup costs. (Keep in mind: if the balance isn’t paid in full by the billing deadline, the cardholder will be required to pay an interest charge.)
Pros of a high-limit business credit card
High-limit business credit cards are appealing for small business owners because they increase purchasing power and thus opportunities. They offer a convenient way to separate business and personal credit cards, and they often come with higher credit lines than personal credit cards, as well as the ability to get cash advances.
There are a variety of other benefits:
- Ability to issue cards to employees
- Reward programs (for using and paying off the card)
- Access to cash advances
- Ease of making online purchases
Cons of a high-limit business credit card
Though high-limit business credit cards provide many perks to small business owners, they come with a few drawbacks too. Most high-limit credit cards require an excellent credit score, meaning not every business owner is eligible for one.
Here are some other cons to keep in mind before taking out a higher credit line for your business:
- Higher annual fees
- Higher interest rates
- Potential security concerns
Ultimately, it’s up to the credit card company to decide whether or not to approve a high-limit credit card application. Still, there are a few things small business owners can do to increase the chances of qualifying.
1. Improve your credit score
The best way to become eligible for a high-limit business credit card is by having an excellent credit score. There are several ways you can improve your credit:
- Make payments on time
- Keep accounts open long term
- Pay off your credit more frequently
- Wait to open accounts over a longer time period
2. Get rid of debt
Credit card companies will also look at how much existing debt you have when reviewing an application, so it’s smart to reduce your debt (or get rid of it completely) to increase your chances of qualifying for a high-limit credit card.
3. Establish a relationship with a bank
Banks and credit card companies are more likely to approve a high-limit business credit card application if the business owner has a long-term relationship with them.
4. Just ask
Want a higher line of credit on your secured card? Sometimes, all you need to do is ask. Before you venture out applying for new credit cards, ask your existing credit card company if they’re willing to increase your credit limit.
The best high-limit business credit cards
Not all high-limit business credit cards are created equal. From annual fees to annual percentage rate (APR), it’s important to do your research before choosing the best credit card for your needs.
Here are some of the top-rated high-limit business credit cards:
- The Blue Business Plus Credit Card from American Express: With no annual fee and a high rewards rate, this is one of the most popular high-limit credit card options for small business owners.
- Capital One Spark Cash Plus: This card allows users to earn cash back on both primary and employee credit cards, but comes with an annual fee of $150.
- Ink Business Preferred Credit Card: The new cardholder bonus offer and other bonus categories help to offset the $95 annual fee.
High-Limit Business Credit Card FAQ
What is a high-limit business credit card?
A high-limit business credit card is a credit card for business owners that typically has a credit limit between $5,000 and $10,000. Small business owners often use small business cards to withdraw a cash advance and help pay for startup costs.
How can I get a higher business credit limit?
You can get a higher business credit limit by applying and qualifying for a high-limit credit card, or by asking your credit card company for a higher limit on your existing business credit card.
Do business credit cards have higher limits?
Yes, it is possible to increase the limit on your business credit card. You’re more likely to qualify for a higher credit limit if you have a good credit score, reduce your debt, and have an established relationship with the credit card company.
How can I get a credit card with a $5,000 limit?
You may be able to get a credit card with a $5,000 limit by applying for a high-limit business credit card or by asking your credit card company to increase your existing credit card limit. You’re more likely to qualify if you have a good credit score and minimal debt.
Which credit cards have the highest limits?
There are a wide range of high-limit credit card options available to those who meet the requirements. Some of the best high-limit business credit cards include the Chase Sapphire Preferred Card, The Blue Business Plus Credit Card from American Express, and Capital One Spark Cash Plus.
Want affordable banking with great perks? With BlueVine, you can get a fee-free business checking account―and you can even earn interest on account balances over $1,000.
A high-limit business credit card can be an important tool for small business owners looking to maximize their purchasing power and grow their business. You can boost your chances of getting approved for a high-limit credit card by improving your credit score, paying off debt, and establishing a long-term relationship with a bank.
Though you may choose to open a brand new credit card with a higher limit, sometimes you can enjoy the same benefits by simply asking your existing credit card company to raise your credit limit.
Would you like to learn more about business credit cards? Check out How to Apply for a Business Credit Card.
At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.