Credit Cards With Low Credit Limits

Wanting a credit card with a low credit limit might seem like a silly idea, people want credit cards so they can spend more right? Well yes, but some people might not want to get caught out spending too much more, there are even some people who consider applying for a credit card when they don't need one, simply to use it to increase their credit score. There are many reasons to apply for a credit card with a low limit.

Improve Your Credit Score By Lowering Your Credit Card Limit.

Credit Cards aren't always seen as a smart way to improve your credit score, they have a bad name, and there are many fair reasons behind this. However one 'secret' which most people don't know, is that you can actually improve your credit score by lowering your credit limit.

If you have recently applied for a loan, you may have noticed that when the lender asks about any credit cards you have, they don't ask you what you owe, rather they usually ask you what your limit is. This is because there is a potential for you to rack up a huge debt, all the way up to that limit, thus the lender giving you a loan has to be wary of this.

The lower your limits, the safer you look to a lender.

Restrict Yourself!

If you have tried budgeting before, or you know you love to spend, and have a little trouble with the whole 'self-control' issue when it comes to spending & saving, then lowering your limit is a great idea.

This means you will have no way to overspend, even if you want to, you are going to get that embarrassing 'declined' message show up at the cash register.

Credit Cards With Low Credit Limits

MoneyBuddy has hundreds of different credit cards available for you to compare online, however we've picked out some of the ones with relatively low credit limits, so you can quickly look at which one might suit you here.

St.George Vertigo MasterCard

  • Min Credit Limit: $500
  • Interest Free Period: 55 days
  • Annual Fee: $55

NAB Low Rate Card

  • Min Credit Limit: $500
  • Interest Free Period: 55 days
  • Annual Fee: $59

  • Min Credit Limit: $500
  • Interest Free Period: 44 days
  • Annual Fee: $30

  • Min Credit Limit: $500
  • Interest Free Period: 55 days
  • Annual Fee: $30 (Waived in the 1st year)

  • Min Credit Limit: $500
  • Interest Free Period: 55 days
  • Annual Fee: $55

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