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£7000 Balance Transfer

Are looking to make a £7000 balance transfer in 2021? 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.

The current Coronavirus pandemic is also making the UK credit card companies, more cautious with their lending. This is likely to reduce the number of customers accepted for a new card, as well as reducing credit limits.

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 :-


Balance Transfer Expert may receive commissions from some of the credit card companies that we refer users to. How this site works.

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 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

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

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

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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Published: January 29, 2021, Updated: July 1, 2021 by Balance Transfer Expert

All 0% balance transfer credit card offers on this website are updated daily