Comparing balance transfer credit cards online since 2002
What are the UK 0% cards most suitable for customers looking for high limit balance transfer credit cards? How common are high limit balance transfer cards in the UK, in 2024?
Customers will usually look for high limit balance transfer cards when planning to make a large balance transfer, from one credit card to another.
Balance transfers of larger amounts do require you to be approved for a new credit card, with a high credit limit. This higher credit limit is required to allow the balance transfer of a large amount to complete successfully.
Many years ago, it was common for the credit card companies in the UK to be quite generous with their credit limits.
Now, however, most credit card companies are generally more strict with their lending criteria. The recent Coronavirus pandemic, and current cost of living crisis, has also led to a further tightening of the lending criteria. As a result, high limit balance transfer cards are now less common, than they used to be.
High Limit Balance Transfer Cards
You can increase your chances of approval for high limit balance transfer cards, if you can meet all of the following criteria:-
- You have a good or excellent credit rating, with no recent history of bad debts
- You have low overall debt levels, excluding mortgages, in relation to your total annual income
- And you are a homeowner, on the electoral roll
- You have lived at the same address and been in regular employment for several years
All of the following featured balance transfer credit cards do tend to be more generous with their credit limits. As a result, these cards are more likely to be suitable for UK customers looking for high limit balance transfer cards :-
Balance Transfer Expert may receive commissions from some of the credit card companies that we refer users to. How this site works.
- 0% for up to 26 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for 3 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
- 0% interest for up to 26 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for 3 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
- 0% interest for up to 16 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for up to 18 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
- 0% interest on balance transfers for 20 months
- 3.24% or 4.24% balance transfer fee on transfers made within first 90 days (minimum £4)
- 0% interest on purchases for your first 3 months
- Collect up to 3 Nectar points per £2 in Sainsbury’s, Argos, and Habitat
- Collect 1 Nectar point for every £5 spent on your card elsewhere
- Online account management
- Annual Fee: None
- You have a permanent UK address
- You have not been declined for credit in the last month
- You do not have a history of bad credit
- You are aged 18 or over
- 0% for up to 12 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for up to 20 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
0 Balance Transfer Credit Card High Limit
There is one other factor to consider when making larger balance transfers. All new high limit balance transfer credit cards in the UK, also have a further limit on how much of a balance transfer you can make.
The maximum balance transfer amount that the credit card company will allow, also affects high limit balance transfers. This maximum transfer limit is a percentage of the customer’s overall credit limit.
All current UK credit cards only allow a balance transfer of at most 95%, of a customer’s overall credit limit. In some cases the limit is only 90%, or 93%, of the customer’s credit limit.
Consider the following, for example.
- You have a £7000 outstanding balance on an existing credit card
- A credit limit of at least £7370 is required on your new high limit balance transfer credit card
- This will then allow you to make a £7000 balance transfer, assuming the card has a 95% transfer limit
The choice of payment network used by the credit card company has no effect on the transfer limit. A small number of UK credit cards use the Visa payment network. Many other credit cards, like the M&S balance transfer cards for example, use the Mastercard payment network.
Customers who successfully get a 0% balance transfer credit card with a high limit, need to ensure that they make at least the minimum monthly payment on time.
Many UK credit card companies will now remove your 0% introductory offers, if your monthly payment, is missed, or is late. Losing your 0% deal on a high limit balance transfer credit card, due to a missed payment, could cost you a significant amount of money.
Related Content From Balance Transfer Expert:-
A £5000 balance transfer is when a customer transfers a balance of £5000 from one credit card to another credit card. The… Read More >>
What are the current Barclaycard existing customer offers in 2024? What are the Barclaycard balance transfer offers for existing customers, in the… Read More >>
Which UK cards will allow a £4000 credit card limit? Are you looking for the most suitable 4000 balance transfer credit cards?… Read More >>
Can you balance transfer to another person? Can you balance transfer from one person to another? Is a credit card balance transfer… Read More >>
