£7000 Balance Transfer

Are looking to make a £7000 balance transfer in 2020? If you are, 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 credit card, you will need to apply for a new card which has a introductory 0% balance transfer offer. The credit limit given to you by the bank or card company, for that new 0% balance transfer credit card, will also need to be higher than £7000.

£7000 Balance Transfer

There is one reason that the credit limit actually needs to be higher than £7000. This 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 given 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 :-


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Card Offers

Balance Transfers:
0% for 28 Months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

NatWest Longer Balance Transfer
  • 0% on balance transfers for 28 months from account opening
  • 2.75% 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)

Card Offers

Balance Transfers:
0% for up to 27 Months
Balance Transfer Fee:
3%
Purchases:
0% for up to 27 Months
Representative APR:
20.9% APR (variable)
More Information

Card Details

Sainsbury’s Dual Offer
  • 0% interest on balance transfers for up to 27 months
  • 3% balance transfer fee, minimum £3
  • 0% interest on purchases for up to 27 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 Dual Offer
  • 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: 20.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.95% p.a. (variable)

Card Offers

Balance Transfers:
0% for 24 Months
Balance Transfer Fee:
1%
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
  • 1% 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)

Card Offers

Balance Transfers:
0% for up to 29 Months
Balance Transfer Fee:
2.74%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

Sainsbury’s Balance Transfer
  • 0% interest on balance transfers for up to 29 months
  • 3% initial balance transfer fee (minimum £3) reduced to 2.74% by refund in first 3 months
  • 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: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)

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.


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