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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.

Who can apply for a £3000 credit card?

Overall credit card limits are now 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 UK customers being accepted for new credit cards.

Credit Card £3000 Limit

A £3000 credit card limit is not a particularly high credit card limit, unlike say a 10k credit card limit. However, for some people, a credit card with a £3000 limit can be difficult to obtain as an initial card limit.

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 22 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 22 months
Representative APR:
21.9% APR (variable)

Credit Card Details

M&S Shopping Plus*
  • 0% for 22 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 22 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)

0% Credit Card Offers

Balance Transfers:
0% for 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Credit Card Details

HSBC Balance Transfer*
  • 0% interest for 29 months on balance transfers made within first 60 days of account opening
  • 2.75% 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

0% Credit Card Offers

Balance Transfers:
0% for 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Credit Card Details

M&S Transfer Plus*
  • 0% for 29 months on balance transfers made within 90 days of account opening
  • 2.75% 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)

0% Credit Card Offers

Balance Transfers:
0% for 20 months
Balance Transfer Fee:
0%
Purchases:
N/A
Representative APR:
21.9% APR (variable)

Credit Card Details

HSBC Balance Transfer No Fee*
  • 0% interest for 20 months on balance transfers made within first 60 days of account opening
  • No balance transfer fee applies
  • No purchases offer with this card
  • 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 £45
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer No 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
No 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

0% Credit Card Offers

Balance Transfers:
0% for up to 12 months
Balance Transfer Fee:
2.9%
Purchases:
0% for up to 12 months
Representative APR:
34.9% APR (variable)

Credit Card Details

Post Office Classic Credit Card
  • 0% on balance transfers for up to 12 months
  • 2.9% balance transfer fee
  • 0% on purchases for up to 12 months
  • Credit limit up to £8,000
  • Online account management
  • Annual Fee: None

Application Criteria

Post Office Classic Credit Card
  • You are a UK resident
  • You have a bank or building society account
  • You are aged 18 or over
Representative Example: 34.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 34.9% p.a. (variable)

£3000 Balance Transfer

Does a new 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% balance transfer 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 are credit cards with no 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: August 4, 2021, Updated: October 11, 2021 by 0% Credit Card Expert

All 0% credit card deals and offers on this website are updated daily