Embodiments of the invention include a method of forming a nonvolatile memory device that contains a resistive switching memory element with improved device switching performance and lifetime, due to the addition of a current limiting component. In one embodiment, the current limiting component comprises a resistive material configured to improve the switching performance and lifetime of the resistive switching memory element. The electrical properties of the current limiting layer are configured to lower the current flow through the variable resistance layer during the logic state programming steps by adding a fixed series resistance in the resistive switching memory element found in the nonvolatile memory device. In one embodiment, the current limiting component comprises a tunnel oxide layer that is a current limiting material and an oxygen barrier layer that is an oxygen deficient material disposed within a resistive switching memory element in a nonvolatile resistive switching memory device.