Best cards with no preset spending limit – The Points Guy

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Editor’s note: This is a recurring post, regularly updated with new information and offers.


When comparing different travel rewards cards, most are nearly identical concerning the mechanics of making purchases and paying off your balance. There is an exception, though: cards with no preset spending limits.

American Express may be the first issuer that comes to your mind, but other banks also issue cards with no preset spending limits.

Unlike traditional credit cards with a set limit, cards without a preset spending limit have flexible purchasing power. It adapts based on factors like your creditworthiness, payment history and history with that issuer. Generally, you must pay your balance in full with these cards (which you should be doing anyway), though they may offer pay-over-time features.

Here’s everything you need to know about the best cards with no preset spending limit.

Overview of the best no preset spending limit cards

The information for the Amex Green and Amex Business Green cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

OSCAR WONG/GETTY IMAGES

American Express also issues two other valuable cards, The Centurion® Card from American Express and The Business Centurion® Card from American Express. These exclusive products are available by invitation only for high spenders. Given their hefty fees (a $10,000 initiation fee plus an ongoing $5,000 annual fee) and the fact not just anyone can apply, these cards aren’t on our list.

The information for the Amex Centurion and Amex Business Centurion cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Before analyzing each card, let’s compare the features you care about most.

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Comparing the best no preset spending limit cards

Card name Earning rates Key benefits Annual fee
The Platinum Card® from American Express
  • 5 Membership Rewards points per dollar on flights booked directly with airlines or with Amex Travel, up to $500,000 of these purchases per year (then 1 point per dollar).
  • 5 points per dollar on prepaid hotels booked with Amex Travel.
  • 1 point per dollar on other purchases.

Enrollment is required in advance for select benefits.

$695 (see rates and fees).
The Business Platinum Card® from American Express
  • 5 Membership Rewards points per dollar on flights and prepaid hotels at AmexTravel.com
  • 1.5 points per dollar on purchases of $5,000 or more or purchases in select business categories, up to $2 million of combined purchases in these categories per year (then 1 point per dollar).
  • 1 point per dollar on other purchases.
  • Access to American Express Centurion lounges, Delta Sky Club lounges (when flying with Delta), Priority Pass Select lounges, Escape Lounges — The Centurion Studio Partner, Airspace lounges, Plaza Premium lounges, Lufthansa lounges and other Global Lounge Collection partner lounges.
  • Complimentary Gold status with Marriott Bonvoy and Hilton Honors.
  • Up to $200 in annual airline incidental credits.
  • Up to $120 in annual wireless phone service credits.
  • Over $1,200 in annual credits available, including Adobe, Indeed and Dell.
  • Up to $189 in statement credits to reimburse your annual Clear membership.
  • Up to $100 credit for Global Entry or TSA PreCheck application fee.
  • 35% points rebate on select flights using Pay with Points at Amex Travel.

Enrollment is required in advance for select benefits.

$695 (see rates and fees).
American Express® Gold Card
  • 4 Membership Rewards points per dollar at restaurants.
  • 4 points per dollar at U.S. supermarkets, up to $25,000 of these purchases per year (then 1 point per dollar).
  • 3 points per dollar on flights booked directly with airlines or at AmexTravel.com
  • 1 point per dollar on other purchases.
  • Up to $120 in annual dining credits with select merchants.
  • Up to $120 in annual Uber Cash for rides or Uber Eats orders in the U.S.

Enrollment is required in advance for select benefits.

$250 (see rates and fees).
American Express® Business Gold Card
  • 4 Membership Rewards points per dollar in the two categories where you spend the most each month, up to $150,000 of these purchases per year (then 1 point per dollar).
  • 1 point per dollar on other purchases.
  • Up to 99 employee cards with no additional annual fee (see

rates and fees).

$295 (see rates and fees).
American Express® Green Card
  • 3 Membership Rewards points per dollar at restaurants worldwide.
  • 3 points per dollar on travel and transit.
  • 1 point per dollar on other purchases.
  • Reimbursement for annual Clear membership.
  • Up to $100 in annual LoungeBuddy credits.

Enrollment is required in advance for select benefits.

$150 (see rates and fees).
Business Green Rewards Card from American Express
  • 2 Membership Rewards points per dollar on purchases at AmexTravel.com.
  • 1 point per dollar on other purchases.
  • Up to 99 employee cards with no additional annual fee (see rates and fees).
$95 (see rates and fees).
The Plum Card® from American Express
  • 1.5% back as a statement credit for any charges paid within 10 days of statement closing.
  • Up to 99 employee cards with no additional annual fee (see rates and fees).
$250 (see rates and fees).
Capital One Spark Cash Plus
  • 5% cash back on hotels and rental cars booked through Capital One Travel.
  • 2% back on other purchases.
  • $200 annual cash bonus each year you make $200,000 or more in purchases with your card.
  • No additional annual fee for employee cards.
  • Use virtual card numbers for payment security.
$150.
Ink Business Premier Credit Card
  • 5% cash back on purchases through the Chase travel portal.
  • 2.5% back on purchases of $5,000 or more.
  • 2% back on other purchases.
  • No additional annual fee for employee cards.
$195.

More details on the best no preset spending limit cards

These cards have no preset spending limit, meaning there’s no predefined limit to how much you can spend on the card. That doesn’t mean you can spend unlimited amounts, however. Your spending ability adapts over time, as discussed in the FAQ below.

That said, you may be able to carry a balance on these cards, similar to what you can do on a credit card. For example, American Express Pay Over Time allows cardmembers to carry a balance from one month to the next, with variable interest rates applied. Even if you never use this feature, it could be worth enrolling if you receive a targeted offer — sometimes up to 20,000 bonus points for enrolling.

Let’s look at the details of each of these cards, including their welcome offers, bonus categories and some of their best benefits.

The Platinum Card® from American Express

Current welcome offer: Earn 80,000 bonus Membership Rewards points after spending $6,000 on purchases in the first six months of card membership. TPG values this bonus at $1,600.

Annual fee: $695 (see rates and fees).

THE POINTS GUY

Earning rates: You’ll earn 5 Membership Rewards points per dollar on flights booked directly with airlines or with Amex Travel, up to $500,000 of these purchases per year (then 1 point per dollar), 5 points per dollar on prepaid hotels booked with Amex Travel and 1 point per dollar on other purchases.

Why we like it: If you’re looking for a no-preset-spending-limit card with luxury perks, this is it. You’ll get unmatched airport lounge access, over $1,500 in available statement credits each year to offset shopping, travel, streaming and airport security program expenses — including reimbursement for your Clear membership fee and Global Entry/TSA PreCheck application fee. You’ll also earn an unmatched 5 points per dollar on flight and hotel purchases and can enroll for complimentary Gold status with Marriott Bonvoy and Hilton Honors.

Note that enrollment is required in advance for some benefits.

For more details, check out our full review of the Amex Platinum card.


Apply here: The Platinum Card from American Express


The Business Platinum Card® from American Express

Current welcome offer: Earn 120,000 bonus Membership Rewards points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of . TPG values this bonus at $2,400.

Annual fee: $695 (see rates and fees).

THE POINTS GUY

Earning rates: You’ll earn 5 Membership Rewards points per dollar on flights and prepaid hotels at AmexTravel.com, 1.5 points per dollar on purchases of $5,000 or more or purchases in select business categories —up to $2 million of combined purchases in these categories per year (then 1 point per dollar) and 1 point per dollar on other purchases. Eligible business categories include electronic goods retailers, shipping providers, software, cloud service providers, and construction materials and hardware supplies.

Why we like it: Similar to the Amex Platinum above, the Amex Business Platinum card has no preset spending limit and a ton of perks to justify its annual fee. You’ll have unparalleled airport lounge access, nearly $1,500 in available statement credits each year to offset business, travel and airport security program expenses — including reimbursement for your Clear membership fee and Global Entry/TSA PreCheck application fee. You also can enroll for complimentary Gold status with Marriott Bonvoy and Hilton Honors and can get 35% of your points back when using Pay with Points for eligible flights booked with Amex Travel.

Note that enrollment is required in advance for some benefits.

For more details, check out our full review of the Amex Business Platinum card.


Apply here: The Business Platinum Card from American Express


American Express® Gold Card

Current welcome offer: Earn 60,000 Membership Rewards points after spending $4,000 in the first six months. TPG values this bonus at $1,200.

Annual fee: $250 (see rates and fees).

THE POINTS GUY

Earning rates: You’ll earn 4 Membership Rewards points per dollar at restaurants, 4 points per dollar at U.S. supermarkets — up to $25,000 of these purchases per year (then 1 point per dollar), 3 points per dollar on flights booked directly with airlines or at AmexTravel.com and 1 point per dollar on other purchases.

Why we like it: This is your ideal card if you’re a foodie. You’ll earn up to $120 in annual dining credits at the following merchants: Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Additionally, you’ll receive up to $120 in Uber Cash annually after adding this card to your Uber account, and you can use this for rides or Uber Eats orders in the U.S. Those perks are on top of the Gold card’s strong earning rates at U.S. supermarkets and restaurants worldwide.

Note that enrollment is required in advance for some benefits.

For more details, check out our full review of the Amex Gold card.


Apply here: American Express Gold Card


American Express® Business Gold Card

Current welcome offer: Earn 70,000 bonus points after you spend $10,000 on eligible purchases in the first three months of card membership. TPG values this bonus at $1,400.

Annual fee: $295 (see rates and fees).

ISABELLE RAPHAEL/THE POINTS GUY

Earning rates: You’ll earn 4 Membership Rewards points per dollar in the two categories where you spend the most each month, up to $150,000 of these purchases per year (then 1 point per dollar) and 1 point per dollar on other purchases. Eligible categories include airfare purchased directly from airlines, U.S. purchases for online, TV, and radio advertising, U.S. purchases for shipping, U.S. purchases at gas stations, U.S. purchases at restaurants and U.S. purchases of computer hardware, software and cloud solutions from select technology providers.

Why we like it: The lack of statement credits and lounge access might turn off those looking for travel perks. For businesses looking to rack up rewards on their purchases, however, you’ll love earning 600,000 points per year through the bonus categories — worth $12,000 in TPG’s valuations.

For more details, check out our full review of the Amex Business Gold card.


Apply here: American Express Business Gold Card


American Express® Green Card

Current welcome offer: Earn 45,000 Membership Rewards points after spending $2,000 in the first six months of card membership. TPG values this bonus at $900.

Annual fee: $150 (see rates and fees).

WYATT SMITH/THE POINTS GUY

Earning rates: You’ll earn 3 Membership Rewards points per dollar at restaurants worldwide, 3 points per dollar on travel and transit and 1 point per dollar on other purchases.

Why we like it: If you want a card that provides a 6% return (based on TPG’s valuations) for all of your travel, commuting and transit expenses, this is it. The Amex Green card is one of the best cards for your daily commute. Also, you can enjoy up to $100 in LoungeBuddy credits annually, useful for airport lounge visits, and reimbursement for your annual Clear membership.

Note that enrollment is required in advance for some benefits.

For more details, check out our full review of the Amex Green card.

The information for the Amex Green card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.


Business Green Rewards Card from American Express

Current welcome offer: Earn 15,000 Membership Rewards points after you spend $3,000 in eligible purchases on the card within your first three months of card membership. TPG values this bonus at $300.

Annual fee: $95 (see rates and fees).

THE POINTS GUY

Earning rates: You’ll earn 2 Membership Rewards points per dollar on purchases at AmexTravel.com and 1 point per dollar on other purchases.

Why we like it: The perks on the Amex Business Green won’t impress anyone, but if you’re looking for a card with no preset spending limit, a low annual fee, access to Amex Offers or the ability to keep your Amex points alive after closing other accounts, this card can provide what you’re looking for. Plus, it can be a good option for those not looking to affect their 5/24 status.

For more details, check out our full review of the Amex Business Green card.

The information for the Amex Business Green card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.


The Plum Card® from American Express

Current welcome offer: None.

Annual fee: $250 (see rates and fees).

THE POINTS GUY

Earning rates: You’ll earn 1.5% back as a statement credit for any charges paid within 10 days of statement closing.

Why we like it: Paying your credit card bill in full and on time is one of our 10 commandments of credit cards. The no-preset-spending-limit Amex Plum card rewards you for following this strategy. Plus, this business card lets you choose your own billing cycle dates for convenience.

For more details, check out our full review of the Amex Plum card.


Apply here: The Plum Card from American Express


Capital One Spark Cash Plus

Current welcome offer: Earn up to $1,000 in cash back: $500 once you spend $5,000 in the first three months from account opening and another $500 once you spend $50,000 in the first six months from account opening.

Annual fee: $150.

THE POINTS GUY

Earning rates: You’ll earn 5% cash back on hotels and rental cars booked through Capital One Travel and 2% back on other purchases.

Why we like it: If you’re looking for a card with no preset spending limit that provides unlimited cash-back earnings, this is it. In addition to the standard earning rates, you’ll get a $200 annual cash bonus each year you make $200,000 or more in purchases with your card.

For more details, check out our full review of the Spark Cash Plus.


Apply here: Capital One Spark Cash Plus


Ink Business Premier Credit Card

Current welcome offer: Earn $1,000 bonus cash back after spending $10,000 on purchases in the first three months from account opening.

Annual fee: $195.

THE POINTS GUY

Earning rates: You’ll earn 5% cash back on purchases through the Chase travel portal, 2.5% back on purchases of $5,000 or more and 2% back on other purchases.

Why we like it: Businesses that routinely make large purchases will love this card, as competitors like the Amex Business Platinum card have an earning limit for rewards on purchases of $5,000 or more each year. While you can’t combine your earnings with Chase Ultimate Rewards points from other cards, you can earn at a high rate and reinvest your earnings back into your business.

For more details, check out our full review of the Ink Business Premier card.


Apply here: Ink Business Premier Credit Card


Frequently asked questions

Maybe you’re looking for a card with no preset spending limit to manage your credit and expenses. In contrast, maybe you have your eye on a particular card because of its benefits and earning structure, not knowing (or caring) about what makes this card different. Here are some of the most common questions about these cards.

What’s the difference between a no preset spending limit card and a credit card?

“No preset spending limit” cards function like credit cards when purchasing and paying your bill, but credit cards come with a preset spending limit. Once you’ve reached the maximum, you must pay your bill before making further purchases. In contrast, cards with no preset spending limit adapt to you based on your payment history, credit and previous spending habits. This doesn’t mean unlimited spending power, but how much you can spend on the card fluctuates over time.

Related: What’s the difference between a charge card and a credit card?

How can you pick the best no preset spending limit card?

Many good cards are on the market, and which is best for you will depend on your travel goals and financial needs. If you’re looking for a luxury travel lifestyle, you’ll want the Amex Platinum or Amex Business Platinum. If you’re looking for cash back, on the other hand, consider the Spark Cash Plus or Ink Business Premier.

How do no preset spending limit cards affect your credit score?

One of the benefits of using these cards is how they’re reported to credit bureaus. Credit utilization accounts for roughly 30% of your credit score. Because the cards described in this guide don’t have a preset spending limit, it’s impossible to calculate a utilization ratio (since there’s no credit limit for determining how much of your limit you’re using). This means that while the balances on your no preset spending limit cards are reported to the credit bureaus, they don’t actually affect your score, which is ideal for high-spending businesses and individuals.

Related: How your credit scores work

What are the pros and cons of using a no preset spending limit card?

The cards on this list offer some of the best welcome offers, earning categories and benefits of any cards on the market. Using them can help you earn points faster or enjoy new luxurious travel experiences.

Conversely, cards with no preset spending limit are designed for paying your balance in full each month (which you should do anyway). With credit cards, you can carry a balance to the next month and pay interest. On cards without preset spending limits, you may be able to enroll in a feature to carry a balance; typically, though, you must pay the full balance and will pay fees for not doing so. If you aren’t able to pay the full balance, using these cards could be a net negative for you.

Related: Why paying off credit card balances is more important than ever

Who should use a no preset spending limit card?

If you’re in the market for a new welcome bonus, these cards offer some of the best ones. If you frequently have large expenses that you pay off every month (either for personal or business reasons), using a no preset spending limit card can help avoid the temporary impact on your credit score from a hard pull during the application process. And then, you can use the welcome bonus to travel or invest in your business, depending on your goals.

Bottom line

When discussing the top travel rewards cards, we often lump no preset spending limit cards and credit cards together since their similarities outweigh their differences. Once you understand what sets them apart, you can use cards without preset spending limits to improve your credit score and increase your earning abilities.

Also, don’t forget that better offers may be available through the CardMatch tool. These targeted offers may provide better bonuses than what you see publicly available, but offers are targeted to each individual and can change at any time.

For rates and fees of Amex Platinum, click here.
For rates and fees of the Amex Business Platinum, click here.
For rates and fees of the Amex Gold Card, click here.
For rates and fees of the Amex Business Gold, click here.
For rates and fees of the Amex Green, click here.
For rates and fees of the Amex Business Green, click here.
For rates and fees of the Amex Plum Card, click here.

Additional reporting by Ethan Steinberg and Katie Genter.

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