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£2000 Credit Card Limit

What are the credit cards which are most likely to give a £2000 credit card limit to a new customer in the UK, in 2021?

A credit card with 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 larger value purchase. For example, the customer could buy a new flat screen TV, or home furniture, using the card. Where the card has a 0% offer on purchases, the customer will pay no interest during the card’s introductory 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% introductory offer period. However, a balance transfer fee is usually payable with most 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 is also likely to 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 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

HSBC Balance Transfer*
  • 0% interest for 29 months on balance transfers made within first 60 days of account opening
  • 2.75% 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
More Information

Application Criteria

HSBC Balance Transfer*
  • 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
More Information
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for up to 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 3 months
Representative APR:
34.9% APR (variable)
More Information

Card Details

Capital One Balance Transfer
  • 0% on balance transfers for up to 18 months
  • 3% balance transfer fee
  • 0% on purchases for 3 months
  • Credit limit up to £86000
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Capital One Balance Transfer
  • You are a UK resident
  • You have had credit cards in the past
  • You are a home owner
  • You have an income of more than £20,000 per year
  • You are aged 18 or over
More Information
Representative Example: 34.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
No balance transfers allowed to this card from Capital One or Post Ofice credit cards

Card Offers

Balance Transfers:
0% for 18 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 18 months
Representative APR:
22.9% APR (variable)
More Information

Card Details

HSBC Purchase Plus*
  • 0% interest for 18 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 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
More Information

Application Criteria

HSBC Purchase Plus*
  • 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
More Information
Representative Example: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 18 months
Balance Transfer Fee:
0%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

NatWest Balance Transfer
  • 0% on balance transfers for 18 months from account opening
  • 0% 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 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: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
No balance transfers allowed to this card from NatWest, RBS or Ulster Bank 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 higher than £2,000.

This is because all of the UK credit card companies place a limit on balance transfers. This limit is either 90% or 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 £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 given to you, is made 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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Published: April 16, 2021, Updated: April 16, 2021 by Balance Transfer Expert

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