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High Limit Balance Transfer Credit Cards

High Limit Balance Transfer Credit Cards

What are the UK cards most suitable for customers looking for high limit balance transfer credit cards?

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

Balance transfers of larger amounts require the customer 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 has also lead to stricter lending criteria. As a result, high limit balance transfer credit cards are now much less common, than they used to be.

High Limit Balance Transfer Cards

Customers can increase their chances of approval for high limit balance transfer cards, if they can meet the following criteria:-

  • You have an 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 customers looking for high limit balance transfer cards :-


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Card Offers

Balance Transfers:
0% for 32 months
Balance Transfer Fee:
1.99%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Transfer Plus*
  • 0% for 32 months on balance transfers made within 90 days of account opening
  • 1.99% 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

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 33 months
Balance Transfer Fee:
2.7%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer*
  • 0% interest for 33 months on balance transfers made within first 60 days of account opening
  • 2.7% 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 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

Card Offers

Balance Transfers:
0% for 28 months
Balance Transfer Fee:
1%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer Low Fee*
  • 0% interest for 28 months on balance transfers made within first 60 days of account opening
  • 1% 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
  • Contactless payments to quickly and securely pay for purchases under £100
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer Low 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
Low 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:
2.9%
Purchases:
0% for 24 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Shopping Plus*
  • 0% for 24 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 24 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

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 for at most 95%, of a customer’s credit limit. In a few cases the limit is only 90% of the customer’s overall 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. Others 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 remove a customers 0% introductory offers if a monthly payment is missed, or late.


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Published: April 19, 2022, Updated: April 19, 2022 by Balance Transfer Expert

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