£7000 Balance Transfer

When you are looking to make a £7000 balance transfer in 2018, then it helps to know which credit cards are the most suitable 0% balance transfer credit cards for a £7000 balance transfer.

A new credit card with a £7000 initial credit card limit is now often harder to get than it was in the years before the banking credit crisis began. All of the UK credit card companies do now generally tend to offer lower credit limits, than they did before the credit crunch began.

In order to allow a £7000 balance transfer to be made to a new 0% balance transfer credit card, you will need to apply for a new credit card with a 0% balance transfer offer. The credit limit given to you by the credit card company, for that new 0% balance transfer credit card, will also need to be higher than £7000.

£7000 Balance TransferThe reason that the credit limit actually needs to be higher than £7000, is that all UK credit card companies have a limit on how much of the overall credit limit can be used for a balance transfer.

This balance transfer limit is usually set at 90% or 95% of the overall credit limit granted to you.

£7000 Balance Transfer

Customers looking to make a £7000 balance transfer are likely to be more successful in obtaining a new credit card with a higher credit limit if they have the following :-

  • A very good or excellent credit history with no history of bad debt
  • An annual income of at least £20,000 per year
  • A low ratio of outstanding credit card or loan debts compared to their annual income

All of the following 0% balance transfer credit cards do tend to be more generous than many other credit cards with their initial credit limits.

As a result, all of these featured 0% credit cards are more likely to be suitable for a £7000 balance transfer :-

Card Offers

Balance Transfers:
0% for 28 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 28 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 12 Months
Balance Transfer Fee:
0%
Purchases:
0% for 12 Months
Representative APR:
15.9% APR (variable)
More Information

Card Details

Nationwide Select 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
  • Unlimited commission free purchases abroad
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Select 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
  • Our credit card exclusively for members with a main current account
  • 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
Our credit card exclusively for members with a main current account
Representative Example: 15.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 20 Months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 Months
Representative APR:
19.9% 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
  • 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)

Card Offers

Balance Transfers:
0% for 15 Months
Balance Transfer Fee:
3%
Purchases:
No offer
Representative APR:
26.2% APR (variable)
More Information

Card Details

Asda Cashback Plus*
  • 0% on balance transfers for 15 months made within first 90 days of account opening
  • 3% balance transfer fee, minimum &£3
  • 0% for 6 months on purchases of £200 or more at George.com
  • 2% cashback on your Asda shopping online and instore
  • 2% cashback at Asda Living, Asda petrol stations and George.com
  • 0.2% cashback everywhere else
  • Annual Fee: £3 monthly fee
More Information

Application Criteria

Asda Cashback Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are able to provide at least one telephone number
  • You have a regular source of income
  • You are aged 18 or over
More Information
Unlimited cashback vouchers - 2% at Asda plus 0.2% everywhere else
Representative Example: 26.2% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable) with a monthly fee payable of £3

If your initial credit card limit is not high enough, then you may need to apply for another 0% balance transfer credit card. This will then allow you to make a £7000 balance transfer, by splitting the balance transfer over the two new 0% credit cards.

A customer is just as likely to be able to make a £7000 balance transfer with a new MasterCard or a new Visa credit card. The choice of payment network used by the credit card company for the new 0% balance transfer credit card has no influence on the credit limit allocated to the customer.


Related Content From Balance Transfer Expert:-