Chase Sapphire Preferred Credit Limit

Many Chase Sapphire Preferred® users receive a credit limit of $5,000 - $20,000. Find out how Chase determines your credit limit and how to get an increase.

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Chase Sapphire Preferred is one of the most popular travel reward cards on the market.

But it's not the easiest card to get.

You need an excellent credit score.

If you get approved, how much credit limit can you expect to get?

Let's take a look at what kind of credit limit Chase Sapphire Preferred offers.

Chase Sapphire Preferred Credit Limit Range

The lowest credit limit usually offered by Chase Sapphire Preferred is $5,000.

So if Chase doesn't qualify you for at least a $5,000 credit line, then you usually won't be approved for the card either.

Since this card requires an excellent credit score, many users are able to be approved for higher limits. In general, mostly everyone falls in between the $5,000 - $20,000 range, with the average credit limit given being around $10,000.

Theoretically, the limit goes all the way up to $500,000. But of course, that's only for very, very high net worth individuals.

Let's take a look at how Chase determines your credit line.

Factors That Determine Your Credit Limit

Of course, your credit score will be one of the first things Chase looks at.

But having a high credit score doesn't automatically mean you'll get a high credit limit. Some people with lower scores have gotten a credit limit even higher than those with a higher score.

For example, a user with a credit score of 700 was approved with a $17,000 credit limit, while another user with a credit score of 725 was approved with just a $5,000 credit limit. How come?

It's because there are other factors Chase considers when deciding your credit limit.

• Your length of credit history. If you're still relatively new to credit (less than a year), you may not receive a high credit limit even if you have a good score. Credit card companies usually won't extend a lot of credit to someone with a young history.

• Your payment history. If you've missed or made late payments in the past, or carry a balance, you may not even be approved for this card.

  If you are lucky to be approved at all, it's most likely that you'll receive the minimum limit until you prove that you can use the card responsibly.

• Your income. Those with higher income are more likely to receive a higher credit limit, since their income can support higher payments. Many people receiving credit limits over $10,000 earn over $80,000 in annual income. People with 2 sets of income in the family may get a higher credit limit too.

• Credit limit on other cards. If you have other credit cards, Chase may follow the lead of what other banks gave you. If other banks trusted you with high limits and you've been a good user, then Chase will be more likely to trust you too.

• History with Chase. If you have other credit cards with Chase, banking accounts, or other history such as a car loan, and you have been responsible, Chase may trust you with a higher limit. It also may make being approved for the Sapphire Preferred easier.

How to Get a Credit Limit Increase

If your initial credit limit is low, don't worry. There are ways to get it increased over time.

• Automatic credit limit increases. If you have been using your card responsibly for several months, Chase may automatically award you an increase. Using your card responsibly means:
  • You make your payments on time each month
    
  • You pay off your card in full each month

  Some users also report receiving automatic increases when they have heavy usage. If you use a lot of your credit limit each month, that may indicate to Chase that your limit isn't enough. But you MUST make sure to pay it off in full and on time each month, so that Chase sees that you can afford your spending.

  Automatic increases for the Sapphire Preferred are rarer. If you have not gotten an increase after 6-12 months, you can try our next step.

  Also remember to update any salary increases on your profile. A higher salary may make Chase see that you can afford a higher credit limit.
  

• Ask Chase directly. If you've been using your card responsibly for at least 6-12 months, you can call the number on the back of your card and ask for your credit limit to be increased. Many users have reported positive responses when they called in to ask.
  • The best time to ask is when you have paid off your balance.
    
  • Explain why you want the increase (for example, you want to use this as your primary card).
    
  • Know how much you want. Be reasonable.

  Note that Chase will need to check your credit again. This will trigger a hard pull, which will ding your credit a little.

• Ask to transfer credit limit between cards. If you have more than one Chase card, you can ask to transfer part of the credit limit from one to the other. This way, the total credit Chase extends you remains the same.

  Some people also open up a new Chase card and then ask to move the credit limit over to the card they want the higher limit on.

• Ask for credit limit increases on your other cards. This is helpful overall, because when your credit limit increases on other cards, your credit utilization ratio goes down. This helps to improve your credit score, which makes it easier to get a credit limit increase from Chase.

Bottom Line

Chase Sapphire Preferred card is usually only for those with excellent credit. Your credit limit depends on your credit score, income, and how well you've been handling credit in the past. Even if you receive an initial low limit, you can always ask for a credit line increase after you've proved to be a responsible user.