£2000 Credit Card Limit

Which credit cards are most likely to give a £2000 credit card limit to a new customer in the UK in 2020?

A credit card which has a £2000 limit will allow a customer to spend up to a total of £2000 using their card.

£2000 Credit Card Limit

This £2000 credit card limit can allow a customer to make a large value purchase. For example, the customer could buy a new TV, or home furniture, using the card. Where the card has a 0% introductory offer on purchases, the customer will pay no interest during this offer period.

Alternatively, a £2000 credit card limit can allow the customer to make a good sized balance transfer. This balance transfer can be from one, or more than one, of their existing credit cards.

Where the new card has a 0% introductory offer on balance transfers, the customer can save money on interest. With a 0% balance transfer, the customer will pay no interest on the transfer during this 0% offer period. However, a balance transfer fee is very often payable with many UK credit cards.

£2000 Credit Card Limit

The credit card companies do now tend to offer many new customers, lower overall credit limits initially. In the years before the banking crisis, larger credit limits were generally more common. The current Coronavirus pandemic may also reduce overall card limits given to customers, in the short term.

As far as current UK credit limits go, a £2000 credit card limit, is not a very large card limit.

New customers, provided they have a good credit history, are often able to get a new credit card with £2000 limit or higher. Some customers may get a £3000 credit card limit and others a £4000 credit card limit, for example.

In our experience, some of the UK’s credit card companies do tend to be slightly more generous than others, with the credit card limits they give to new customers.

The following featured 0% credit cards are likely to be suitable for customers looking for a £2000 credit card limit:-


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Card Offers

Balance Transfers:
0% for up to 20 months
Balance Transfer Fee:
3%
Purchases:
0% for up to 20 months
Representative APR:
20.9% APR (variable)
More Information

Card Details

Sainsbury’s Dual Offer
  • 0% interest on balance transfers for up to 20 months
  • 3% balance transfer fee, minimum £3 on transfers made at application
  • 0% interest on purchases for up to 20 months
  • Collect 2 Nectar points per £1 spent on Sainsbury's shopping and fuel
  • Collect 1 Nectar point for every £5 spent on your card elsewhere
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Sainsbury’s Dual Offer
  • 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
More Information
To apply for a credit card you must be a Nectar member and should have been one for at least 6 months
Representative Example: 20.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.95% p.a. (variable)
No balance transfers allowed to this card from Sainsbury’s credit cards

Card Offers

Balance Transfers:
0% for 26 Month
Balance Transfer Fee:
0%
Purchases:
0% for 26 months
Representative APR:
21.7% APR (variable)
More Information

Card Details

Santander All in One
  • 0% interest on balance transfers for 26 month from date account opened
  • 0% balance transfer fee
  • 0% interest on purchases for 26 month from date account opened
  • 0.5% cashback on all of your purchases
  • No foreign transaction fee on purchases made abroad in local currency
  • Cashback through Retailer Offers
  • Monthly Fee: £3
More Information

Application Criteria

Santander All in One
  • You are a permanent UK resident
  • You have a good credit history with no history of bad credit
  • You have an income of £7,500 per year or more
  • You are at least 18 years of age
More Information
Monthly fee of £3 payable
Representative Example: 21.7% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable) with a monthly fee of £3 payable
No balance transfers allowed to this card from Santander credit cards

Card Offers

Balance Transfers:
0% for 28 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

NatWest Longer Balance Transfer
  • 0% on balance transfers for 28 months from account opening
  • 2.75% balance transfer fee
  • 0% on purchases for first 3 months from account opening
  • Lock and unlock your credit card in app
  • Manage your card 24/7 online and by telephone banking
  • Annual Fee: None
More Information

Application Criteria

NatWest Longer Balance Transfer
  • You are a NatWest customer
  • You are a UK resident
  • You are earning at least £10,000 per year
  • You are aged 18 or over
More Information
Only available to customers who have a current account, savings account, credit card or mortgage with NatWest
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)
No balance transfers allowed to this card from NatWest, RBS or Ulster Bank credit cards

Card Offers

Balance Transfers:
0% for up to 20 months
Balance Transfer Fee:
2.95%
Purchases:
0% for up to 20 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

TSB Platinum Purchase
  • 0% interest for up to the first 20 months on balances transferred within first 90 days
  • 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
  • 0% interest on purchases for up to the first 20 months
  • Internet fraud protection and Clicksafe
  • Online card servicing
  • Annual Fee: None
More Information

Application Criteria

TSB Platinum Purchase
  • You are an existing TSB customer
  • You are not currently declared bankrupt, have CCJs or subject to IVA
  • You have a good credit rating and regular income
  • You are a UK resident
  • You are aged 18 or over
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)
No balance transfers allowed to this card from TSB credit cards

£2000 Balance Transfer or £3000 Balance Transfer

To make a £2000 balance transfer to a new 0% card, a customer will actually need to be allocated a credit limit, on the new card, that is excess of £2,000.

This is because all of the credit card companies place a limit on balance transfers. This limit is either 90% or 95% of the overall credit limit.

Consider this example. To make a £2000 balance transfer, a new customer would need a credit limit of

  • £2,225 or more for those credit cards with a 90% balance transfer percentage limit
  • or £2,110 or more for those credit cards with a 95% balance transfer percentage limit

Similarly, to make a £3000 balance transfer, a  credit card customer would need a credit limit of

  • £3,350 or more for those cards with a 90% balance transfer percentage limit
  • or £3,160 or more for those cards with a 95% balance transfer percentage limit

As can be seen above, a £2000 balance transfer can be made to a new card with a £3000 credit card limit. However, a £3000 balance transfer would need a credit card limit of at least £3350 on the new card.

Credit Card With £2000 Limit

Customers are more likely to be accepted for a new 0% card and be given a credit card with £2000 limit or higher, if they can match the following criteria that many of the card companies will look for:-

  • You have a good overall credit history
  • Have no recent bad debt problems and have not missed any recent payments
  • You are registered on the electoral roll
  • And you have a steady income from employment

A £2000 credit card limit, or indeed a £3000 credit card limit, is just as likely to be granted on a MasterCard credit card in the UK, as on a Visa credit card.

The decision on the size of the credit limit that is given to you, is only decided by the credit card company. The card company will use the information that it has from your application form. It will also use the external data it is provided with, from the UK credit reference agencies.

For this reason it is important that customers looking for a new 0% card with a £2000 credit card limit check that the information submitted by them at application time is accurate.


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