High Limit Balance Transfer Credit Cards

What are the UK 0% cards most suitable for customers looking for high limit balance transfer credit cards? How common are high limit balance transfer cards in the UK, in 2023?

Customers will usually look for high limit balance transfer cards when planning to make a large balance transfer, from one credit card to another.

Balance transfers of larger amounts do require you to be approved for a new credit card, with a high credit limit. This higher credit limit is required to allow the balance transfer of a large amount to complete successfully.

Before the banking crisis of 2008, it was common for the credit card companies in the UK to be quite generous with their credit limits.

Now, however, most credit card companies are generally more strict with their lending criteria. The recent Coronavirus pandemic, and current cost of living crisis, has also led to a further tightening of the lending criteria. As a result, high limit balance transfer cards are now less common, than they used to be.

High Limit Balance Transfer Cards

You can increase your chances of approval for high limit balance transfer cards, if you can meet all of the following criteria:-

• You have a good or excellent credit rating, with no recent history of bad debts
• You have low overall debt levels, excluding mortgages, in relation to your total annual income
• And you are a homeowner, on the electoral roll
• You have lived at the same address and been in regular employment for several years

All of the following featured balance transfer credit cards do tend to be more generous with their credit limits. As a result, these cards are more likely to be suitable for UK customers looking for high limit balance transfer cards :-

Card Offers

M&S Transfer Plus*

Balance Transfers:

0% for 28 months

Balance Transfer Fee:

2.99%

Purchases:

0% for 3 months

Representative APR:

23.9% APR (variable)

More Information >

Card Details

M&S Transfer Plus*

• 0% for 28 months on balance transfers made within 90 days of account opening
• 2.99% 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 >

Card Offers

HSBC Balance Transfer*

Balance Transfers:

0% for up to 27 months

Balance Transfer Fee:

3.49%

Purchases:

0% for 3 months

Representative APR:

24.9% APR (variable)

More Information >

Card Details

HSBC Balance Transfer*

• 0% interest for up to 27 months on balance transfers made within first 60 days of account opening
• 3.49% 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 >

Card Offers

HSBC Purchase Plus*

Balance Transfers:

0% for up to 16 months

Balance Transfer Fee:

3.49%

Purchases:

0% for up to 18 months

Representative APR:

24.9% APR (variable)

More Information >

Card Details

HSBC Purchase Plus*

• 0% interest for up to 16 months on balance transfers made within first 60 days of account opening
• 3.49% balance transfer fee applies (minimum £5)
• 0% interest on purchases for up to 18 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 Purchase Plus*

• 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 >

Card Offers

Nationwide Member Credit Card - All Rounder

Balance Transfers:

0% for 15 months

Balance Transfer Fee:

1.5%

Purchases:

0% for 15 months

Representative APR:

19.9% APR (variable)

More Information >

Card Details

Nationwide Member Credit Card - All Rounder

• 0% on balance transfers for 15 months if made within 90 days of account opening
• 1.5% balance transfer fee within first 90 days, after that 2.4% fee applies, minimum £5
• 0% on purchases for 15 months from date you open your account
• Unlimited commission-free purchases abroad
• Manage account online
• Annual Fee: None

More Information >

Application Criteria

Nationwide Member Credit Card - All Rounder

• Must be a Member of Nationwide. This means you already have a current account, mortgage or savings account with Nationwide
• You are a UK resident
• You have a minimum income of £5000 per year
• You have a good credit history
• You are aged 18 or over

More Information >

Card Offers

M&S Shopping Plus*

Balance Transfers:

0% for 15 months

Balance Transfer Fee:

2.99%

Purchases:

0% for 18 months

Representative APR:

23.9% APR (variable)

More Information >

Card Details

M&S Shopping Plus*

• 0% for 15 months on balance transfers made within 90 days of account opening
• 2.99% balance transfer fee, minimum £5
• 0% on purchases for 18 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 >

0 Balance Transfer Credit Card High Limit

There is one other factor to consider when making larger balance transfers. All new high limit balance transfer credit cards in the UK, also have a further limit on how much of a balance transfer you can make.

The maximum balance transfer amount that the credit card company will allow, also affects high limit balance transfers. This maximum transfer limit is a percentage of the customer’s overall credit limit.

All current UK credit cards only allow a balance transfer of at most 95%, of a customer’s overall credit limit. In some cases the limit is only 90%, or 93%, of the customer’s credit limit.

Consider the following, for example.

• You have a £7000 outstanding balance on an existing credit card
• A credit limit of at least £7370 is required on your new high limit balance transfer credit card
• This will then allow you to make a £7000 balance transfer, assuming the card has a 95% transfer limit

The choice of payment network used by the credit card company has no effect on the transfer limit. A small number of UK credit cards use the Visa payment network. Many other credit cards, like the M&S balance transfer cards for example, use the Mastercard payment network.

Customers who successfully get a 0% balance transfer credit card with a high limit, need to ensure that they make at least the minimum monthly payment on time.

Many UK credit card companies will now remove your 0% introductory offers, if your monthly payment, is missed, or is late. Losing your 0% deal on a high limit balance transfer credit card could cost you a significant amount of money.

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