£3000 Credit Card Limit

Which UK credit cards are more likely to give a £3000 credit card limit to new customers in 2018? Is a £2000 credit card limit easier to get than a credit card with a £3000 limit?

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

Many UK customers would like to make a medium 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 allows the customer to make larger purchases. These purchases could be a new high definition TV or a new sofa, for example.

Where the new 0% credit card has an 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 the 0% introductory offer.

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

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

£3000 Credit Card 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 higher limits, once the customer has a good track record of using the card responsibly.

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:-

0% Credit Card Offers

Balance Transfers:
0% for 26 months
Balance Transfer Fee:
2.89%
Purchases:
0% for 26 months
Representative APR:
22.9% APR (variable)
More Information

Credit Card Details

HSBC Dual Credit Card*
  • 0% interest for 26 months on balance transfers made within 60 days of account opening
  • 2.89% balance transfer fee (minimum £5)
  • 0% on purchases for 26 months from account opening
  • At the end of 0% offer 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 Dual Credit Card*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident, including Isle of Man and Channel Islands
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Offer: £25 cashback between 10th September and 9th November 2018. Subject to terms and conditions
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

0% Credit Card Offers

Balance Transfers:
0% for 32 months
Balance Transfer Fee:
0.99%
Purchases:
0% for 6 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

M&S Transfer Plus Credit Card*
  • 0% for 32 months on balance transfers made within 90 days of account opening
  • 0.99% 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 32 months
Balance Transfer Fee:
1.4%
Purchases:
0% for 3 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

HSBC Credit Card*
  • 0% interest for 32 months on balance transfers made within 60 days of account opening
  • 1.4% balance transfer fee (minimum £5)
  • 0% on purchases for 3 months from account opening
  • At the end of 0% offer 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 Credit Card*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident, including Isle of Man and Channel Islands
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Offer: £25 cashback between 10th September and 9th November 2018. Subject to terms and conditions
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)
Credit is subject to status

0% Credit Card Offers

Balance Transfers:
0% for 12 months
Balance Transfer Fee:
3%
Purchases:
None
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

Asda Cashback Credit Card*
  • 0% on balance transfers for 12 months
  • 3% balance transfer fee, minimum £3
  • 0% for 6 months on purchases of £200 or more at George.com
  • 1% cashback on your Asda shopping online and instore
  • 1% cashback at Asda Living, Asda petrol stations and George.com
  • 0.2% cashback everywhere else
  • Annual Fee: £0
More Information

Application Criteria

Asda Cashback Credit Card*
  • You have a permanent UK address
  • You have a UK bank or building society account
  • You are able to provide at least one telephone number
  • You have a regular source of income
  • You are aged 18 or over
More Information
Unlimited cashback vouchers - 1% at Asda plus 0.2% everywhere else
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:
2.9%
Purchases:
0% for 25 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

M&S Shopping Plus Credit Card*
  • 0% for 25 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 25 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)

£3000 Balance Transfer

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

To make a £3000 balance transfer from your existing credit card to a new card, you will actually need a credit limit greater 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 often 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% percentage limit
  • £3350 for those cards with a 90% percentage 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 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 does not have to pay the card company any annual fee for using the card.


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