Comparing balance transfer credit cards online since 2002Which credit cards are the most likely to give a £2000 credit card limit to new UK customers, in 2023?
A credit card with a 2000 limit allows you to spend up to a total of £2000, using your card.
This £2000 credit limit can allow you to make a reasonably large purchase. For example, you could buy a new larger TV, or new home furniture, using your card.
When the card has a 0% offer on purchases, you will pay no interest on these purchases, during the card’s introductory offer period.
Alternatively, a 2000 credit card limit can allow you to make a good-sized balance transfer. This balance transfer can be from one, or more than one, of your existing credit cards.
If your new card has a 0% introductory offer on balance transfers, then you can save money on your interest payments. With a 0% balance transfer, you will pay no interest, on the transfer amount, during your 0% introductory offer period. However, a balance transfer fee is usually payable with most UK credit cards. There are currently only a very small number of no fee balance transfer credit cards available.
Credit Card With 2000 Limit
The credit card companies do now tend to offer many new customers, lower overall credit limits initially. In the years before the 2008 banking crisis, larger credit limits were generally more common.
The recent Coronavirus pandemic has also reduced overall card limits given to customers, in the short term, at least. This is because of the uncertainty regarding economic recovery and the impact on jobs and overall employment.
As far as current UK credit limits go, a £2000 credit card limit, is not a very large limit. The average credit limit on UK credit cards currently lies between a £3000 credit card limit, and a £4000 credit card limit.
Apply For £2000 Credit Card
Many UK customers applying for a new 0% card, are often able to get a new credit card with 2000 limit, or higher. This is provided that you have a good credit rating and no recent missed payments, on your credit history.
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% offer cards are likely to be suitable for customers looking to apply for a £2000 credit card limit:-
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Card Offers
Card Details
- 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
Application Criteria
- 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
Card Offers
Card Details
- 0% for 15 months on balance transfers made within 90 days of account opening
- 2.99% balance transfer fee, minimum £5
- 0% on purchases for 18 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
Application Criteria
- 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
Card Offers
Card Details
- 0% interest for up to 27 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
Application Criteria
- 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
Card Offers
Card Details
- 0% for 28 months on balance transfers made within 90 days of account opening
- 2.99% 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
Application Criteria
- 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
Card Offers
Card Details
- 0% on balance transfers for up to 12 months
- 2.9% balance transfer fee
- 0% on purchases for up to 12 months
- Credit limit up to £8,000
- Online account management
- Annual Fee: None
Application Criteria
- You are a UK resident
- You have a bank or building society account
- You are aged 18 or over
Credit Cards With 2000 Limit
You are more likely to be accepted for a new 0% card, and be given credit cards with 2000 limit, or higher, if you can match the following criteria that many of the card companies will look for:-
- You have a good overall credit rating
- 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, or a pension
A £2000 credit card limit, or indeed a £3000 credit card limit, is just as likely to be granted on a MasterCard branded card in the UK, as on a Visa credit card.
The decision on the size of the credit limit given to you, is made by the credit card company. Some customers may get a £2000 limit, others may get a credit card with a £7000 limit, for example. The card company will use the information that you provide on your application form. It will also use the external data it has access to from the UK credit reference agencies.
As a result, it is important that when looking for a new 0% card with a £2000 credit card limit, you check your application carefully. It is important that all the information submitted by you at application time is accurate.
£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 limit, on the new card, that is higher than £2,000.
This is because all of the UK credit card companies place a limit on balance transfers. This limit is set at 90%, 93%, or more often, 95% of the customer’s 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 2K credit card transfer can be made to a new card with a £3000 credit card limit. However, if you are looking to make a £3000 balance transfer, then you would need a credit card limit of at least £3350 on your new card.
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