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£7000 Credit Card Limit

Are you looking for a new 0% card with a £7000 credit card limit? If you are, then which UK credit cards are the most suitable for a £7000 credit card limit?

7000 Credit Card Limit

A credit card with a £7000 limit allows a customer to spend up to £7000 on their card. This could be one large purchase, a family holiday for example, or several smaller purchases.

Customers with a £7000 credit card limit can also make larger balance transfers. This could be one large balance transfer from one existing credit card. Alternatively, a customer could make several smaller balance transfers from a number of their existing credit cards.

New credit card with larger credit card limits, are now often harder to get than it was in the years before the banking crisis, back in 2008. All of the credit card issuers in UK do now generally tend to offer lower credit limits, than they did before this credit crunch began.

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

Credit Card £7000 Limit

Customers looking for a £7000 credit card limit are likely to be more successful in obtaining a new 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

Some UK credit cards companies do tend to be more generous than many other card issuers with their initial credit limits. As a result, all of the following featured cards are more likely to be suitable for a £7000 credit card limit :-


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Card Offers

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

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

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
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)

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

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
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 22 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 22 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Shopping Plus*
  • 0% for 22 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 22 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

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
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 20 months
Balance Transfer Fee:
0%
Purchases:
N/A
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer No Fee*
  • 0% interest for 20 months on balance transfers made within first 60 days of account opening
  • No balance transfer fee applies
  • No purchases offer with this card
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Contactless payments to quickly and securely pay for purchases under £45
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer No Fee*
  • 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 have not held a credit card with HSBC Bank in the last 6 months
No Balance Transfer Fee
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 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)

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

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
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

£7000 Balance Transfer Credit Cards

Customers looking to make a £7000 balance transfer will need to apply for a new card with an introductory 0% balance transfer offer. The credit limit given to you by, the bank, or card company, for that new 0% balance transfer card, will also need to be higher.

A £7000 credit card limit is not high enough to make a £7000 balance transfer, although it would allow a £6000 balance transfer. This is because 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 95% of the overall credit limit given to you. So in effect to make the full £7000 balance transfer onto a new card, you will need a limit of at least £7370.

The transfer limit is in place to allow the customer to pay any balance transfer fee without exceeding their given credit limit. There are currently, only a few no fee balance transfer credit cards available in the UK.

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 get a £7000 limit with a new MasterCard, or a new Visa card. The choice of payment network, used by the card company for the new 0% credit card has no influence on the credit limit allocated to the customer.


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Published: October 19, 2021, Updated: November 15, 2021 by Balance Transfer Expert

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