When you are looking to balance transfer £8000, what are the best UK 0% balance transfer credit cards for this amount of transfer?
We see many UK credit card customers looking for help on the best 0% balance transfer credit cards to use to make larger balance transfers.
Before the banking crisis began, it was more common for credit card customers to be routinely offered larger credit card limits. These larger limits would allow a customer to balance transfer £8000 or more.
Over recent years however the credit card companies have tended to offer lower initial credit card limits, when a customer is first accepted for a new credit card.
Credit card limits can often be raised for customers at a later date. This is often when a customer has proven he can use the card responsibly and make the monthly payments on time.
However, this rise in the credit card limit can often be after the card’s introductory balance transfer offer period has passed.
Balance Transfer £8000
It is still possible that a credit card customer will be allocated a credit card limit big enough to allow them to balance transfer £8000 in one transaction. However, this is now often a much less frequent occurrence.
If you are looking to balance transfer £8000 or more, then it is now much more likely that you will need to apply for more than one 0% balance transfer credit card. This will then allow you to transfer the full amount as two separate balance transfers.
All of the following featured UK credit cards do tend to be more generous with their initial credit limits so are more likely to be suitable when looking to balance transfer £8000 or more.
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- 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
- 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
- 0% interest for up to the first 20 months on balances transferred within first 90 days
- 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
- 0% interest on purchases for up to the first 20 months
- Internet fraud protection and Clicksafe
- Online card servicing
- Annual Fee: None
- You are an existing TSB customer
- You are not currently declared bankrupt, have CCJs or subject to IVA
- You have a good credit rating and regular income
- You are a UK resident
- You are aged 18 or over
£8000 Credit Card Limit
A customer looking to balance transfer £8000 or more in one go, will actually need to be given a larger credit limit. A £8000 credit card limit is not large enough to make a £8000 balance transfer.
The reason for this that all of the credit card companies allow a maximum balance transfer size of 90%, or 95%, of a customers credit limit.
To balance transfer £8000 in one go, a customer will need:-
- A credit limit of £8890 or more for those cards with a 90% balance transfer limit
- or £8422 or more for those cards with a 95% balance transfer limit
A £8000 credit card limit will only allow a balance transfer of at most £7600.