£2000 Credit Card Limit

Which UK credit cards are most likely to give a £2000 credit card limit to a new customer in 2018?

A credit card with a £2000 limit will allow a customer to spend up to £2000 on the card.

£2000 Credit Card LimitThis £2000 credit card limit can allow a customer to make a large value purchase. For example, the customer could buy a new TV or sofa, 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 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. A balance transfer fee is however 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.

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:-

Card Offers

Balance Transfers:
0% for 32 Months
Balance Transfer Fee:
0.99%
Purchases:
0% for 6 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Transfer Plus*
  • 0% for 32 months on balance transfers made within 90 days of account opening
  • 0.99% balance transfer fee, minimum £5
  • 0% on purchases for 6 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

M&S Transfer Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
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)

Card Offers

Balance Transfers:
0% for 32 Months
Balance Transfer Fee:
1.4%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

HSBC*
  • 0% interest on balance transfers for 32 months made within 60 days of account opening
  • 1.4% balance transfer fee (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At the end of 0% offer period, balance transfers and purchases will revert to standard variable rate
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

HSBC*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident, including Isle of Man and Channel Islands
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
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)
Credit is subject to status

Card Offers

Balance Transfers:
0% for up to 35 Months
Balance Transfer Fee:
2.85%
Purchases:
0% for 3 Months
Representative APR:
18.9% APR (variable)
More Information

Card Details

Post Office Money Balance Transfer*
  • 0% for up to 35 months on balance transfers made within 3 months of account opening
  • 2.85% balance transfer fee applies
  • 0% on all purchases for the first three months
  • No cash fee to buy travel money at the Post Office
  • Manage your account 24/7 with Post Office Money mobile app
  • Annual Fee: None
More Information

Application Criteria

Post Office Money Balance Transfer*
  • You are a UK resident
  • You have a bank or building society account
  • You have an annual income of £8,000 or more excluding unemployment benefits
  • You are aged 18 or over
  • You have no county court judgements
  • You must not already hold a Post Office Money Credit Card
More Information
A 2.85% fee applies and balance transfers must be made within 3 months of account opening
Representative Example: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)
Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender

Card Offers

Balance Transfers:
0% for 12 Months
Balance Transfer Fee:
0%
Purchases:
0% for 12 Months
Representative APR:
17.9% APR (variable)
More Information

Card Details

Nationwide Credit Card just for Nationwide members*
  • 0% on balance transfers for 12 months from account opening
  • 0% balance transfer fee within first 3 months, 2.4% fee applies after, minimum £5
  • 0% on purchases for 12 months from account opening
  • Commission free allowance on purchases abroad (subject to terms)
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Credit Card just for Nationwide members*
  • Our credit cards are just for members. Youre a member when you have a current account, mortgage or savings account with us
  • You have been living in the UK for the last 12 months
  • You have a gross income each year of more than £5000
  • You have a good credit history
  • You are aged 18 or over
More Information
Representative Example: 17.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 17.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 18 Months
Balance Transfer Fee:
2.89%
Purchases:
0% for 28 Months
Representative APR:
18.9% APR (variable)
More Information

Card Details

Post Office Money Platinum*
  • 0% interest for 18 months on balance transfers made within 3 months of account opening
  • 2.89% balance transfer fee
  • 0% interest on purchases for first 28 months
  • No fees on overseas purchases
  • No cash fee when you purchase Post Office Travel Money
  • Manage your account 24/7 with Post Office Money mobile app
  • Annual Fee: None
More Information

Application Criteria

Post Office Money Platinum*
  • You are a UK resident
  • You have a bank or building society account
  • You have an annual income of £8,000 or more excluding unemployment benefits
  • You are aged 18 or over
  • You have no county court judgements
  • You must not already hold a Post Office Money Credit Card
More Information
No fees on overseas purchases
Representative Example: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)
Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender

Card Offers

Balance Transfers:
0% for 25 Months
Balance Transfer Fee:
2.9%
Purchases:
0% for 25 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Shopping Plus*
  • 0% for 25 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 25 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

M&S Shopping Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
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)

£2000 Balance Transfer or £3000 Balance Transfer

To make a £2000 balance transfer to a new balance transfer credit 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 limit balance transfers to 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 near £3500 credit card limit 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 the 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 and 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% credit card with a £2000 credit card limit check that the information submitted by them at application time is accurate.


Related Content From Balance Transfer Expert:-

Today Balance Transfer Expert has:-

78 UK 0% balance transfer credit cards offering:-

  • 0% balance transfers for up to 35 months with a 2.85% fee
  • 0% balance transfers for up to 32 months with a 0.99% fee