A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt.
What qualifies as a good credit limit differs from person to person, though. For someone with no credit, for example, a $500 credit limit is good because most beginner credit cards start off with lower limits. But for very experienced borrowers with a lot of disposable income, a good limit is much higher.
Good Credit Limits by Age Group
| Age Group | Good Credit Limit |
| Gen Z (18-24) | $9,000 |
| Millennials (24-39) | $22,000 |
| Gen X (40-55) | $34,000 |
| Baby Boomers (56-74) | $39,000 |
| Silent Generation (75+) | $32,000 |
Note: A good credit limit is slightly higher than the average for each age range, based on 2020 Experian data.
Remember, it’s best for your credit score to use 1% to 10% of your credit limit each month, and no more than 30%.
This answer was first published on 03/29/22 and it was last updated on 12/08/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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