When looking for credit cards, some look for flashy cards with high credit limits, but others may prefer to retain low credit limits. The advantage of a low-limit credit limit is that in case of an emergency, you are certain you will access credit. Here are the leading low initial credit limit cards to consider.
Chase Freedom Unlimited
With this card, you have a spending limit of $500, and this Visa card’s acceptance standards are higher. You will access the Chase Ultimate Rewards program and earn 1.5% cash back on every purchase for up to $20,000 in the first 12 months. In addition, there is a 6.5% cash back on travel and 4.5% cash back on dining and drugstore purchases.
Discover it Cash Back
This card has a credit limit of $300, and you can enjoy unlimited cash-back matches. There is no maximum or minimum spending reward, and a $150 cash back could become $300. There is a 5% cash back on all purchases and a 0% intro APR for 15 months with a standard variable purchase APR of 14.99% to $25.99% after.
Discover it Miles
The card offers cash back in travel reimbursement, making it cheaper to visit places. This is the only card giving unlimited match of all miles earned at the end of the first year. After that, you earn unlimited 1.5x miles, which can be redeemed to pay the monthly bill. There is a 0% intro APR for 15 months.
Capital One Platinum Secured Credit Card
The card is ideal if you have bad credit, and you should be fine with the credit limit since each approved cardholder will begin with a limit of $200. All you have to do is put down a refundable security deposit starting at $49 and received an initial credit line of $200. You qualify for a higher limit within six months.
Fingerhut Credit Account
This is another credit card to consider if you have bad credit; your credit limit will be between $200 and $1000. Since it reports to major bureaus, Fingerhut helps you build a credit history.
