£10000 Credit Card Limit

£10000 Credit Card Limit

Is a £10000 credit card limit possible when a customer applies for a new credit card in the UK? Or is a £8000 credit card limit, the more likely outcome, in 2019?

Over recent months, we have seen many UK customers looking for answers to questions about a £10000 credit card limit.

As many people will know, ever since the banking crisis began, borrowing has generally been more difficult.

The UK banks and credit card companies have generally, tended to be more cautious with their lending to customers. As a result, obtaining a large credit card limit, has often been much more difficult.

Customers will often look for a credit card with a £10000 limit so that they can make a bigger balance transfer. This is because they already have a large balance on one, or perhaps several, of their existing credit cards.

With a new 0% credit card with a £10000 limit, the customer can save money by paying less interest on their outstanding debts. A new 0% balance transfer card, does allow the customer to make one large, or several smaller balance transfers.

£10000 Credit Card Limit

Credit card limits are determined by the credit card companies. They use the information provided by the customer during the application process and they also use information provided by credit reference agencies.

The main criteria used in deciding what credit card limit to give a new customer are often as follows:-

  • The customers’s monthly income and outgoings
  • Their credit history
  • The amount of credit, such as loans and other cards, they already have available to them

If you already have a number of credit cards with large limits available to you, this may reduce your new card’s credit limit. A £10000 credit card limit on a new 0% card can be hard to get for most customers. If you have several other cards already, a larger credit limit may be harder to get.

Over recent years, we have seen that a small number of the credit card companies tend to be more generous with their credit limits. As a result, the following featured cards are likely to be suitable for  customers looking for a £10000 credit card limit:-

0% Credit Card Offers

Balance Transfers:
0% for 28 months
Balance Transfer Fee:
2.85%
Purchases:
0% for 6 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

M&S Transfer Plus Credit Card*
  • 0% for 28 months on balance transfers made within 90 days of account opening
  • 2.85% balance transfer fee, minimum £5
  • 0% on purchases for 6 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: £0
More Information

Application Criteria

M&S Transfer Plus Credit Card*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for 25 months
Balance Transfer Fee:
1.5%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Credit Card Details

HSBC Balance Transfer Credit Card*
  • 0% interest for 25 months on balance transfers made within first 60 days of account opening
  • 1.5% balance transfer fee (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
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: £0
More Information

Application Criteria

HSBC Balance Transfer Credit Card*
  • You have an annual income or pension before tax of £8,500 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

0% Credit Card Offers

Balance Transfers:
0% for 12 months
Balance Transfer Fee:
0%
Purchases:
0% for 12 months
Representative APR:
17.9% APR (variable)
More Information

Credit Card Details

Nationwide Credit Card just for Nationwide members*
  • 0% on balance transfers for 12 months from account opening
  • 0% balance transfer fee within first 3 months, 2.4% fee applies after, minimum £5
  • 0% on purchases for 12 months from account opening
  • Commission free allowance on purchases abroad (subject to terms)
  • Manage account online
  • Annual Fee: £0
More Information

Application Criteria

Nationwide Credit Card just for Nationwide members*
  • Nationwide credit cards are just for members. You are a member when you have a current account, mortgage or savings account with Nationwide
  • You have been living in the UK for the last 12 months
  • You have a gross income each year of more than £5000
  • You have a good credit history
  • You are aged 18 or over
More Information
Nationwide credit cards are just for members. You are a member when you have a current account, mortgage or savings account with Nationwide
Representative Example: 17.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 17.9% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for 20 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

M&S Shopping Plus Credit Card*
  • 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
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: £0
More Information

Application Criteria

M&S Shopping Plus Credit Card*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for 18 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 18 months
Representative APR:
22.9% APR (variable)
More Information

Credit Card Details

HSBC Purchase Plus Credit Card*
  • 0% interest for 18 months on balance transfers made within 60 days of account opening
  • 2.9% balance transfer fee (minimum £5)
  • 0% interest on purchases for 18 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: £0
More Information

Application Criteria

HSBC Purchase Plus Credit Card*
  • You have an annual income or pension before tax of £8,500 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: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions

£8000 Credit Card Limit

Only a very small number of UK customers who apply for a new 0% credit card are likely to get a credit card with a £10000 limit straight away. 0% credit cards with large limits, like a £8000 credit card limit, or a £9000 credit card, are rarer today. These large credit limits are now more likely to be given to customers over a period of time. This will probably also require one or more increases in their credit limit.

If the card limit you receive, for example a credit card with a £8000 limit, is lower than you would like, all is not lost. A customer can still save money by making a purchase or a balance transfer, for up to their credit limit. This will allow the customer to benefit from the 0% introductory rates on the new card.

Immediately cancelling any new credit card, which has a lower credit limit than you would like, such as a £5000 credit card limit for example, is not recommended.  If you immediately apply again for a different card, this is unlikely to result in a larger credit card limit.

Credit Card £10000 Limit

A card with a £10k credit card limit can also be obtained when a customer uses their credit card responsibly. This is when you stay within your given credit limit and make the monthly payments on time, every month. Over time a customer can then apply to increase their initial credit limit. If this request is successful, you may then obtain a £10k credit card limit.

A £10000 credit card limit, or a £8000 credit card, is just as likely on both MasterCard and Visa credit cards. The customer’s credit card limit is based only on the information available to the credit card company. The credit limit  is not based on the choice of payment network used by any particular credit card.


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