What's my limit on a credit card if I have a high salary?

I'm a student and I don't have a credit card. i mean I have two credit cards from clothing stores which I buy clothes from and pay it off to build up my score. But I don't have an actual credit card. If I apply for a credit card, my bank told me I would have a limit of $500. How many years does it take to increase it to $10,000?? My credit score is very good. It's not perfect but it's 750. My dad is a software engineer and has a pretty high salary and his limit on his credit card is $20,000. So if I apply for a credit card in the future when I have a real professional job instead of a student job, will I start off with a high limit or still $500? Does salary have any impact on the limit of the credit card? I was just wondering when the right time to apply for a credit card is because I only have a debit card, and the daily limit is 1000 dollars. So in the future if I ever want to buy a car or a tv, I can't use my debit card.
Answer:

The credit limit on cards is insignificant if you pay off the balance in full every month. It can take years to get cards with high credit limits and the card companies base that on your credit history and use, and your income. They won't give you a limit that you may not be able to afford to pay on time. Starting out with a $500 limit is very reasonable. If you charge $500 in one month and pay the minimum monthly after that, they will never raise your limit.

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Other answers

They base your credit limit on your salary and your credit history. As you use your card properly, they eventually automatically increase your limit (or you can request it). Getting a credit card with a $10,000 limit takes time.

Might as well start now and get the $500.00 credit limit. Use it sparingly and pay it off every month. You will not get a $10,000 limit for a very long time, many years...and it is never guaranteed. I am surprised they would give you a limit of $500.00 when your score is a 750 though. I would ask them why they would start you at $500.00.

Michelle

Yes if your salary is high credit card limit can be increased but a limit of 10 k seems out of question.

Kevin

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