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£3000 Credit Card Limit

Which credit cards are more likely to give a £3000 credit card limit to new customers in the UK? Is a £2000 credit card limit easier to get? Or is a credit card with a £3000 limit more common, in 2021?

A £3000 credit card limit, allows a customer to spend up to £3000 using their card.

Many UK customers would like to make a reasonable sized balance transfer from their existing credit cards. A £3000 credit card limit on a new 0% credit card, does allow a good sized balance transfer. This transfer allows the customer to save money, by paying no interest for the duration of the 0% introductory offer.

Credit Card With £3000 Limit

£3000 Credit Card Limit

A credit card with a £3000 limit can also allow a customer to make some larger purchases. These purchases could be a new large flat screen TV, or new home furniture, for example.

When the new 0% credit card has an introductory offer on purchases, the customer can also save money on these purchases. A 0% offer on purchases allows the customer to pay no interest for the duration of this 0% introductory offer.

Overall credit card limits are no longer quite as generous, as they once were. Recent Bank Of England warnings have had a noticeable effect on the UK banks, and other financial firms, lending policies.

As a result the card companies in general, have been more strict with the credit card limits that they give to new customers. A credit limit of around £3000 is not always as easy to get, as it used to be in previous years.

The current Coronavirus pandemic has also reduced the number of customers being accepted for a new credit card, within the UK.

Credit Card £3000 Limit

A £3000 credit card limit is not a particularly high credit card limit, unlike say a £10000 credit card limit. However, a credit card with a £3000 limit can be difficult to obtain as an initial card limit, for some people.

Some of the credit card companies do now prefer to issue new cards with lower initial limits. This could be a £2000 credit card limit, for example. The card company may then offer a higher limit, once the customer has a good track record of using the card responsibly, over a period of time.

A customer can increase their chances of being accepted for a credit card with £3000 limit, if they can meet all of the following criteria:-

  • A good credit history
  • No recent missed payments or bad debts
  • A steady income, ideally above £10,000 annually

In our experience all of the following credit card companies do tend to be slightly more generous with their initial credit card limits. As a result, the following featured cards are more likely to be suitable for customers looking for a £3000 credit card limit:-


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0% Credit Card Offers

Balance Transfers:
0% for 25 months
Balance Transfer Fee:
2.85%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Credit Card Details

HSBC Balance Transfer*
  • 0% interest for 25 months on balance transfers made within first 60 days of account opening
  • 2.85% 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
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 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)
More Information

Credit 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
More Information

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
More Information
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)

0% Credit Card Offers

Balance Transfers:
0% for up to 15 months
Balance Transfer Fee:
1.45%
Purchases:
0% for up to 15 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

TSB Platinum Purchase Credit Card
  • 0% interest for up to the first 15 months on balances transferred within first 90 days
  • 1.45% balance transfer fee during first 90 days, 3% fee applies afer 90 days
  • 0% interest on purchases for up to the first 15 months
  • Internet fraud protection and Clicksafe
  • Online card servicing
  • Annual Fee: None
More Information

Application Criteria

TSB Platinum Purchase Credit Card
  • 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
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% 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*
  • 0% interest for 18 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee applies (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
  • 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
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

£3000 Balance Transfer

Does a credit card with a £3000 limit allow a customer to make a £3000 balance transfer?

Looking to make a £3000 balance transfer from your existing card to a new 0% credit card? Then you will actually need a credit limit that is more than £3000.

All of the UK credit card companies have a percentage limit of how much of your credit card limit can be used to make a balance transfer. This percentage limit is either, 90% or 95% of your credit limit.

So, in order to make a £3000 balance transfer, a customer will need a credit limit of at least:-

  • £3160 for those cards with a 95% transfer limit
  • £3350 for those cards with a 90% transfer limit

£2000 Credit Card Limit

Not all customers hoping to get a new credit card with a £3000 limit will be successful. Some customers will receive a lower limit on their new card. This could be a £2000 credit card limit, or a £2500 credit card limit, for example. Other customers may receive a slightly higher limit, like a £3500 credit card limit.

It is important to note that if a customers is given a new credit card with a £2000 limit for example, that they do actually make use of the credit limit they have been given. Cancelling that new £2000 credit card and immediately trying again for another credit card with a big credit limit, is much more likely to lead to an even lower credit card limit being given.

All of the above 0% cards suitable for a £3000 credit card limit, currently have no credit card annual fee. As a result, a customer using these cards, does not have to pay the card company any annual fee.

Choosing a Visa or Mastercard credit card will not affect your credit limit. Your actual limit is determined only by the card company based on your individual financial circumstances.


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Published: February 26, 2021, Updated: March 26, 2021 by 0% Credit Card Expert

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