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High credit limit credit cards

From buying big-ticket items to getting more rewards, compare credit cards that offer you the flexibility of a high credit limit.

Banks and credit card providers in New Zealand offer credit cards with maximum credit limits of up to $50,000 or more. As well as offering high credit limits, these credit cards also include premium extras such as rewards, complimentary insurance and concierge services.

Use this guide to compare credit cards with high credit limits and find a card that fits your spending habits.

Compare high credit limit credit cards

Name Product Purchase Rate Annual fee Balance Transfer Rate
OFFER
American Express Platinum Card
N/A
$1,250
N/A
Get the new metal Platinum Card, 80,000 Membership Rewards bonus points, up to $300 dining credit and $200 to spend on travel each year. Offer available to new customers who apply online, are approved and spend at least $1,500 in the first 3 months. Exclusions, Ts&Cs apply.
OFFER
American Express Platinum Edge Credit Card
2.99% for 6 months (changes to 19.95% p.a.)
$149
N/A
Enjoy a low rate on purchases and earn 20,000 Membership Rewards Bonus Points if you apply, are approved and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.
AIRPOINTS
Kiwibank Air New Zealand Airpoints Platinum Visa
20.95% p.a.
$150
1.99% p.a. for 6 months
1.99% on balance transfers for 6 months.
AIRPOINTS
American Express Airpoints Platinum Card
19.95% p.a.
$195
N/A
Receive 300 bonus Airpoints Dollars when you apply online, are approved and spend a minimum of $1,500 on your new card within the first 3 months of membership.This offer is available to new Card Members only. Ts&Cs apply. You will also earn 1 Airpoints Dollar for every $59 you spend on your card.
ASB Visa Platinum Rewards Credit Card
19.95% p.a.
$80
0% p.a. for 6 months
Earn 1 True Rewards dollar for every $100 spent. True Rewards dollars can be redeemed at partner stores like BP, Farmers and Mitre 10.
BNZ Advantage Visa Platinum Credit Card
18.95% p.a.
$90
N/A
1 Flybuys point for each $15 you spend or $1 in cash rewards for each $90 of eligible spend.
AIRPOINTS
ANZ Airpoints Visa Platinum Credit Card
19.95% p.a.
$150
N/A
Earn 1 Airpoints Dollar for every $85 you spend. You'll also earn 1 Air New Zealand Status Point with every $250 spent.
Westpac hotpoints Platinum Mastercard
20.95% p.a.
$119
5.95% p.a. for the life of the balance
Low rate of 5.95% for all balance transfers for the life of the balance.
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Applying for a new card vs requesting a higher credit limit

If you are happy with the features and fees that come with your credit card but want more spending freedom, you could request a credit limit increase instead. After you receive approval, you keep the same card but can spend more.

What are high credit limit credit cards used for?

ccf-high-limit-250x250A card with a high limit can be useful if you have large purchases in mind or if you want to consolidate a lot of debt onto a card with a balance transfer offer. Flexibility to pay for more purchases also makes high credit limit credit cards useful if you want to earn more reward points.

While these cards increase your borrowing power, it’s important to remember that you have to repay everything you’ve charged (plus interest). If you struggle to repay your balance in full each month and have a tendency to overspend, a credit card with a high credit limit might not be a good fit for you.

What are the types of high limit credit cards?

There are a variety of different credit cards in New Zealand that offer higher credit limits, including:

Gold, Platinum and Black credit cards

These premium credit cards are designed for big spenders and high-income earners and usually offer higher credit limits as a result. You’re also more likely to find a range of complimentary extras such as rewards or Airpoints programmes, travel insurance, concierge services and airport lounge access. These premium cards usually charge high annual fees and interest rates, so they’re best suited to people who pay their balance in full each month and take full advantage of the extra perks.

High limit balance transfer credit cards

If you’re thinking of transferring a debt to a card with low interest or 0% on balance transfers, you need to make sure that the new card has a large enough credit limit to support your balance.

Depending on the card, you may be able to request a balance transfer worth between 70% and 100% of the approved credit limit. If your debt exceeds this balance transfer limit, you can’t transfer the entire amount, and the remaining debt stays in your old account.

If you have a large credit card debt, consider this when comparing cards and requesting your preferred credit limit.

Charge cards

Charge cards are not technically credit cards because they require you to repay your entire outstanding balance in full each month. However, this setup means they don’t have a credit limit or pre-set spending limit. So, if you have large and regular purchases in mind and always repay your balance in full, a charge card could give you greater financial flexibility than a credit card with a set credit limit.

Business or corporate cards

If you want a high credit limit to help with your business cash flow, a business or corporate card typically offers a higher credit limit than a personal card. These cards also offer other features designed especially for business owners, such as additional cards for employees, itemised statements and integration with MYOB, Quicken, Microsoft Excel or other accounting software.

How to compare high limit credit cards

Weigh up the following factors to help you find a high credit limit credit card that fits your needs:

  • Your spending habits. Before you request a credit limit increase or apply for a credit card with a high credit limit, consider the credit limit you need to support your regular spending without tempting you to overspend. If you regularly repay your balance in full, a credit card with a high limit could help you manage your expenses and give you extra spending power in the case of an emergency. However, if you don’t always repay your balance in full and regularly exceed your budget, a high credit limit could be an unnecessary temptation that could lead to debt.
  • Eligibility. Your income, expenses, credit history and New Zealand residency status can all impact whether you’re approved for the card and what credit limit you get. Before you apply for one of these cards or request a credit limit increase, check your credit score and make sure your credit history is in good standing.
  • Interest rates. Rewards, premium perks and the potential risks that lenders face by providing high credit limits mean that these types of cards often have high-interest rates.
  • Annual fees. Most credit cards that offer high maximum credit limits charge an annual fee. This could be less than $100 or more than $400 depending on the card. You can weigh this cost against the potential value you get from the card’s features – such as rewards or a balance transfer offer – to help decide if it is worth it.

Pros and cons of credit cards with a high limit

Pros

  • More spending power. Applying for a higher credit limit gives you greater access to cash and increases your ability to spend. If you’re struggling to cover your expenses with your current credit limit, it could be a way to make sure your credit card works for you.
  • Consolidate card debt. If you have debt on one or several credit cards, moving them onto a high credit limit credit card with a low or 0% balance transfer offer could make it easier to manage repayments and clear the debt faster.
  • More potential rewards. If you want a credit card that earns points per $1 spent, a higher credit limit lets you pay for more of your everyday expenses on plastic so that you can make the most of the card’s earn rate.
  • Useful for business expenses. Business banking accounts may often have limits that exceed the standard credit limit of a personal card. If this is the case for your business, you can either apply for a business credit card or get in touch with a business banker to negotiate a higher limit.

Cons

  • Dependent on income. Your credit limit increase or credit card application is dependent on your credit history and income. If you don’t meet the minimum income requirement, you might not receive approval.
  • The temptation to spend. A higher credit limit could tempt you to spend more than you can afford to repay each month. Remember that you have to repay everything you spend, often with additional interest costs.

High credit limit credit cards can give you more freedom with how and when you use your card, but they also come with a greater debt risk. Remember to consider your personal circumstances and compare a range of options so that you can choose a credit card that works for you.

Frequently asked questions

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