Credit cards with high credit limits

Are you a big spender? Compare credit cards that offer credit limits and make the most of your spending power.

By   |   Verified by David Boyd   |   Updated 15 Feb 2024

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Comparing credit cards with high credit limits

American Express Qantas Ultimate Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$450.00 p.a. ongoing

Highlights

  • Receive 100,000 bonus Qantas Points when you apply by 2 April 2024 are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. T&Cs apply. New Card Members only.
  • Get 2 complimentary Qantas Club lounge invitations each year.
  • $450 Qantas Travel Credit each year (conditions apply).

Pros

  • Earn 100,000 bonus Qantas Points when you meet the criteria.
  • Excellent earn rates on everyday spending. Earns points on payments to the ATO.
  • Access to The Centurion® Lounge. after your first card spend on the card for Qantas products and services each anniversary year.
  • 2 complimentary Qantas Club lounge invitations each year.
  • Add cards for up to four family and friends at no cost.

Cons

  • The annual fee of $450.
  • There is no concierge service, even though it's a high end card.
  • Balance transfers are not possible.
  • Transactions in a foreign currency attract a fee.
Bankwest Breeze Platinum Mastercard

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Annual fee

$69.00 p.a. ongoing

Highlights

  • Enjoy 0% p.a. on balance transfers for 12 months (2% BT fee, 12.99% p.a. thereafter).
  • 0% p.a. for 12 months on purchases (reverts to 12.99% p.a.)
  • Up to 55 interest-free days.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • No foreign transaction fees.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
American Express Qantas Business Rewards Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$450.00 p.a. ongoing

Highlights

  • Enjoy 150,000 bonus Qantas Points with the American Express Qantas Business Rewards Card when you apply 2 April 2024, get approved, and spend at least $3,000 within 2 months of your approval date. Available to new American Express Card Members only.
  • Earn 2 Qantas Points per $1 spent on Qantas products and services, up to 1.25 points per $1 spent on everyday spend and 0.5 Qantas Points per $1 spent on government spend, utilities and insurance.
  • After a total of 500,000 Qantas Points is earned in a calendar year, the everyday business earn rate will change from 1.25 to 0.75 Qantas Points per $1 spent.*For Card Members who applied for the Card between 1 July 2023 – 9 January 2024, this change will come into effect from 10 July 2024.

Pros

  • Earn 150,000 bonus Qantas Points when you meet the criteria.
  • Two complimentary passes for the Qantas Club lounge every year.
  • A flexible Payment Option is available to spread costs over time for a portion of your balance.
  • Spend with Dell Technologies, and get up to $100 credit twice a year.

Cons

  • The $450 p.a. annual fee.
  • Balance must be repaid in full each month.
  • No concierge service.
  • Lounge passes are valid for Qantas Club and not the international business lounges.
American Express Velocity Platinum Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$375.00 p.a. ongoing

Highlights

  • Receive 100,000 bonus Velocity Points when you apply by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. Available to new Amex Card Members only.
  • Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year.
  • Enjoy 2 complimentary Virgin Australia lounge passes each anniversary year at selected domestic airports.

Pros

  • Receive up to 100,000 bonus Velocity Points when you meet the criteria.
  • Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year.
  • Enjoy 2 complimentary Virgin Australia lounge passes each anniversary year at selected domestic airports.
  • Receive 100 Velocity Frequent Flyer Status Credits, when you spend a minimum of $50,000 within your card membership year.
  • Complimentary domestic and international travel insurance.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.
  • Add up to 4 additional cardholders for free.

Cons

  • The interest rates applied to balances carried over is on the high end.
  • There is no balance transfer offer on this card.
American Express Platinum Card

On website

Apply by 9 April 2024

American Express Platinum Card

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$1,450.00 p.a. ongoing

Highlights

  • Receive 200,000 Bonus Membership Rewards Points when you apply by 9 April 2024, are approved, and spend $5,000 on your new Card within the first 3 months. T&Cs apply. New Amex Card Members only.
  • Receive a $450 Platinum Travel Credit each year, which can be redeemed for flights, hotels, or car hire.
  • Enjoy up to $400 per calendar year when you dine from a curated collection of over 1,400 hand-selected restaurants both locally and abroad. Terms and Conditions apply.

Pros

  • Receive 200,000 Bonus Membership Rewards Points when you meet the criteria.
  • Receive a $450 Platinum Travel Credit each year.
  • Enjoy up to $400 Global Dining Credit per calendar year.
  • Access to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,450.
American Express Explorer Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Receive 50,000 Bonus Membership Rewards Points when you apply, are approved, and spend $4,000 on your new Card within the first 3 months. T&Cs apply. New Amex Card Members only.
  • Receive a $400 Travel Credit each year towards any flights, hotels, and car hire when you book online with this card.
  • Includes complimentary domestic & international travel insurance.

Pros

  • The 50,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • Receive a $400 travel credit every year.
  • Earn 2 Membership Rewards points per $1 spent on purchases except for government bodies in Australia where you will earn 1 point per $1 spent (uncapped).
  • Get two complimentary entries per year to The Centurion® Lounge.

Cons

  • The $395 p.a. annual fee.
American Express Platinum Edge Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • $0 annual fee in the first year, saving you $195.
  • Earn 3 Membership Rewards points per $1 spent at major supermarkets and petrol stations.
  • Enjoy $200 to spend on travel each year that can be used on eligible flights, hotels, or car hire when booked through American Express Travel.

Pros

  • $0 annual fee in the first year, saving you $195.
  • Receive $200 to spend on eligible domestic and international flights, hotels, or car hire with American Express Travel.
  • Smartphone Screen Cover for smartphone screen repairs up to $500.

Cons

  • The ongoing purchase rate of 23.99%.
American Express Velocity Business Charge Card

On website

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$249.00 p.a. ongoing

Highlights

  • Receive 200,000 Bonus Velocity Points when you apply by 15 May 2024, are approved, and meet the minimum spend criteria of $5,000 within 2 months of approval. New American Express Card Members only.
  • Earn 2 points per $1 spent on Virgin Australia services and up to 1 point per $1 spent on other purchases. Earn 0.5 points per $1 on ATO and government spending.
  • Enjoy 2 complimentary single-entry passes to the Virgin Australia Lounge at selected domestic airports every year.

Pros

  • Receive 200,000 bonus Velocity Points when you meet the criteria.
  • Join the Virgin Australia Business Flyer program to jump direct to Tier 2 and receive a complimentary 12-month Velocity Frequent Flyer Gold if you meet the criteria.
  • Earn up to 2 Velocity Points per $1 spent.
  • No pre-set spending limit and up to 51 days to pay for purchases.

Cons

  • The annual fee of $249 p.a.
  • Each employee card costs $99.
American Express Gold Business Card

On website

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$169.00 p.a. ongoing

Highlights

  • Receive 75,000 bonus Membership Reward points when you apply, are approved, and spend $1,000 on your card within the first 2 months. New American Express Card Members only.
  • Earn up to 1.5 Membership Rewards points for every $1 spent.
  • No pre-set spending limit means more flexibility.
  • Travel Insurance that includes up to $2.5 million in medical emergency expenses cover.

Pros

  • Receive 75,000 bonus Membership Reward points when you meet the criteria.
  • Earn up to 1.5 Membership Rewards points for every $1 spent.
  • No cap on how many points you can earn.
  • No pre-set spending limit means more flexibility.
  • Spend with Dell Technologies to receive up to $75 credit twice a year until 31 December 2024.
  • Membership Rewards points can be transferred to a number of airlines, giving you options when booking travel.

Cons

  • The $119 fee for every additional card added.
  • Doesn't offer airport lounge access.
  • No access to concierge services.
Westpac Altitude Black Credit Card (Altitude)

Balance transfer

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$150.00 for 1st year

Highlights

  • Earn up to 150,000 bonus Altitude Points. Receive 100,000 Altitude bonus points when you spend $6,000 on eligible purchases within 120 days of card approval. Plus 50,000 points after your first eligible purchase in year 2. Exclusions apply.
  • $150 p.a. annual fee for the first year ($295 p.a. annual fee thereafter). Applies to new cardholders only.
  • Earn 6 Altitude points per $1 on Qantas, Jetstar, Singapore Airlines, and Emirates flights bought in Australia, eligibility criteria apply.

Pros

  • Earn up to 150,000 bonus Altitude Points when you meet the criteria.
  • Additional savings with the $150 first-year annual fee ($295 p.a. thereafter).
  • Earn 1.25 points per $1 spent on eligible purchases
  • Get 2 complimentary lounge passes each year with Priority Pass.

Cons

  • The high annual fee of $295 p.a. after the initial year.
Qantas Premier Titanium Credit Card

Balance transfer

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$1,200.00 p.a. ongoing

Highlights

  • Receive 150,000 bonus Qantas Points when you spend $5,000 within 90 days from card approval.
  • Enjoy 20% bonus Status Credits on Qantas operated and marketed flights.
  • Be unique by holding this metal card unlike other cards issued in plastic.

Pros

  • A very substantial sign up bonus with a reasonable spending target.
  • Earn Status Credits when you buy eligible Qantas flights with the card.
  • A high Qantas Points earn rate.
  • Four Qantas airport lounge passes each year.
  • Comes with complimentary domestic and international travel insurance.
  • The physical card is made of metal.

Cons

  • The annual fee is on the high end.
  • No free additional cardholders.
  • Ongoing interest rates are typical of a rewards card.

Every credit card comes with a predetermined credit limit based on the lender’s assessment of your credit status. You are then only allowed to spend money up to the specified limit. High credit limit credit cards are generally considered cards with a $20,000 or above limit.

High limit credit cards are useful financial vehicles that can add flexibility to your credit line when used properly. With an increased credit limit, you may be able to, for example, transfer balances from several other cards into one easy-to-manage account.

Types of credit cards with high limits

Different types of high credit limit credit cards are available from various banks, lenders and supermarket credit card providers. These include high limit balance transfer credit cards, charge cards, business and corporate cards, Gold, Platinum, and Black level cards.

Gold, Platinum, and Black credit cards

Premium credit cards cater to high-income individuals and frequent spenders with elevated credit limits and added luxuries such as generous rewards programs, complimentary travel insurance, concierge services, and airport lounge access.

It's important to pay the balance in full each month since the interest incurred on a large balance quickly negates the value of the points earned.

However, it's important to note that premium cards often come with high annual fees and interest rates.

Balance transfer credit cards

If you need to transfer a large balance, make sure the credit limit is sufficient to accommodate it. Additionally, there is a balance transfer limit to take into consideration too. This limit defines how much of the total credit limit can be used for balance transfers. Balance transfer limits typically range between 70% and 100% of the because they require the full outstanding balance to be paid monthly approved credit limit, depending on the card issuer.

0% purchase credit cards

This type of offer provides a window of time during which interest is not charged on purchases, allowing you to spread out the cost of a large expense over a few months.

Having a high credit limit on your card can be especially beneficial in this scenario, as it gives you the ability to make a substantial purchase without overextending your credit.

Business credit cards

Not only do credit cards for businesses have higher credit limits on average to accommodate larger purchases, but they also come with additional features designed specifically for businesses, such as the option to issue multiple employee cards and seamless integration with popular accounting software, such as Xero, QuickBooks, and Quicken.

Charge cards

Charge cards differ from credit cards in that they require the full outstanding balance to be paid every month. As a result, they don't have a credit limit or a pre-set spending limit, although the issuer — typically American Express — will conduct periodic audits of your creditworthiness. Charge cards are available for personal, business, and corporate use.

For example, a charge card could offer a business with a large ad spend each month more financial flexibility than a credit card with a set credit limit.

Important things to keep in mind about high limit credit cards

As you make the decision to move to a high credit limit credit card you need to be sure you have carefully analysed your financial needs. In some cases, applying for a higher credit limit may not be the right option for you.

Spending habits

If you are thinking of getting a high limit card so that you have a larger credit allowance for online shopping, holidays, a new car or other big expenses, then you need to ensure you are going to have funds to pay the balance off over a reasonable time frame. There are cheaper ways to borrow large amounts, but a credit card can work well if you have a long interest-free period and can repay the balance before that window ends.

Eligibility

Before you are approved for the card the lender will take a look at your payment history on existing credit commitments, as well as your overall credit history and credit score. If they assess that you haven’t been paying down your balances enough each month, your application for a larger limit is likely to be declined. On the other hand, you may find that you are often offered more credit when you don’t actually need it.

Interest rates

Using a credit card with a high limit can introduce serious financial problems if not managed properly. Since most of these cards have standard — or higher — interest rates, not paying the balance in full each month can result in significant interest charges. If you are unsure about your ability to repay the balance, it may be better to consider other options.

FAQs

What is the highest credit limit for an Australian credit card?

Credit cards with maximum credit limits of $100,000 are available, possibly higher. Credit limits on charge cards can be higher still.

Are there any credit cards with no credit limit?

No. But some charge cards, which are not technically credit cards since they must be repaid in full every month, have no pre-determined limit.

Is a high credit limit good for your credit score?

One of the important determining factors used to calculate credit scores is known as the credit utilisation ratio, that is to say, the amount of the total credit limit used. Therefore, having a high credit limit and carrying a small balance can show responsible use and help improve your credit score. However, a high credit limit — even if it is not being used — can have negative