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£2000 Credit Card Limit

Which credit cards which are the most likely to give a £2000 credit card limit to new UK customers, 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 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.

When the card has a 0% offer on purchases, the customer will pay no interest on these purchases, 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.

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 current Coronavirus pandemic may also reduce overall card limits given to customers, in the short term, at least. This is because of current 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 is currently lies between a £3000 credit card limit and a £4000 credit card limit.

Apply For £2000 Credit Card

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 they have a good credit history and no recent missed payments on their record.

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

Balance Transfers:
0% for 20 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

M&S Shopping Plus*
  • 0% for 20 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 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
More Information

Application Criteria

M&S Shopping Plus*
  • 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
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)
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

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 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

M&S Transfer Plus*
  • 0% for 29 months on balance transfers made within 90 days of account opening
  • 2.75% 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
More Information

Application Criteria

M&S Transfer Plus*
  • 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
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)
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:
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 up to 12 months
Balance Transfer Fee:
2.9%
Purchases:
0% for up to 12 months
Representative APR:
34.9% APR (variable)
More Information

Card Details

Post Office Classic
  • 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
More Information

Application Criteria

Post Office Classic
  • You are a UK resident
  • You have a bank or building society account
  • 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 34.9% p.a. (variable)
No balance transfers allowed to this card from Capital One or Post Ofice credit cards

Credit Cards With £2000 Limit

Customers are more likely to be accepted for a new 0% card and be given credit cards 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 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. 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.

As a result, it is important that customers looking for a new 0% card with a £2000 credit card limit, check their application carefully. It is important that the information submitted by them 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 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.


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Published: August 25, 2021, Updated: September 9, 2021 by Balance Transfer Expert

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