£4000 Balance Transfer

£4000 Balance Transfer

Are you looking to make a £4000 balance transfer? Which UK credit cards will allow a £4000 credit card limit? Which 0% cards are the most suitable, for a customer looking for a credit card with a £4000 limit, in 2020?

Over recent months, we have seen many more customers, looking for answers to all of the above common questions.

Many UK customers have questions regarding credit cards with a £4000 limit, as well as how to make balance transfers of around £4000.

£4000 Credit Card Limit

A customer making a £4000 balance transfer to a new credit card, does actually need to be approved for a new card with a credit limit, which is higher than £4,000.

There is one particular reason that a customer needs a credit card with a £4000 limit, or higher. The reason is that most UK balance transfer credit card companies set a limit on the maximum balance transfer allowed.

In the UK, balance transfers can be made for, at most, 90% or 95% of the customer’s available credit limit.

So to make a £4000 balance transfer, a card customer will actually need to be given a credit limit on the new card, which is in excess of £4,000.

As an example, to make a £4000 balance transfer:-

  • A customer would need a credit limit of £4,450 or more for those cards with a 90% transfer limit
  • A customer would need a credit limit £4,215 or more for those cards with a 95% transfer limit

A £4000 credit card limit would allow a transfer of at most £3800. This applies if the card has a 95% balance transfer limit. A customer with a £4000 limit and a lower 90% transfer limit, will only be able to make a balance transfer of £3600, at most.

£4000 Balance Transfer

Before the banking crisis, getting a new credit card with a £4000 credit card limit was relatively common. However, the banking crisis led to the credit card companies generally tending to issue credit cards with lower initial credit limits.

The Coronavirus pandemic has also resulted in the banks being more cautious with their lending. This forecast economic slump will result in lower credit card limits again being more common.

All of the following featured credit cards however do tend to be more generous with their credit limits. As a result, these cards, are more likely to be suitable for a customer looking for a £4000 balance transfer, or a £4000 credit card limit.


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Card Offers

Balance Transfers:
0% for up to 27 months
Balance Transfer Fee:
3%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

Sainsbury’s Balance Transfer
  • 0% interest on balance transfers for up to 27 months
  • 3% balance transfer fee (minimum £3) on transfers made at application
  • 0% interest on purchases for your first 3 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 Balance Transfer
  • 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
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.95% p.a. (variable)
No balance transfers allowed to this card from Sainsbury’s credit cards

Card Offers

Balance Transfers:
0% for 23 months
Balance Transfer Fee:
1.99%
Purchases:
0% for 3 months
Representative APR:
19.9% APR (variable)
More Information

Card Details

NatWest Longer Balance Transfer
  • 0% on balance transfers for 23 months from account opening
  • 1.99% 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 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 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)
More Information

Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 3% balance transfer fee, minimum £5
  • 0% interest on purchases for 4 months from account opening
  • All successful applicants will receive this exact rate and offer
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Co-operative Bank Balance Transfer
  • Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
  • You are a UK resident
  • You have annual income of £10,000 or more
  • You are aged 18 or over
More Information
Only available to Co-operative Bank customers
Representative Example: 20.6% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.6% p.a. (variable)
No balance transfers allowed to this card from Co-operative credit cards

A credit card with a £4000 limit is most likely to be available to those credit card customers who have a good overall credit rating and a low level of debt in relation to their overall income levels.

Our large balance transfer credit cards page has more details of how to increase your prospects of being approved for larger balance transfer amounts such as a £4000 balance transfer credit card.

Credit Card With £4000 Limit

Customers looking to make purchases on their new credit card are not restricted by any 90% or 95% spending limit.

A customer with a new credit card with a £4000 limit can spend up to the full £4000 on purchases. This is provided that no balance transfer has been made using the card and as a result, the whole credit limit is still available.


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