£5000 Credit Card Limit

A £5000 credit card limit gives a customer a credit limit of £5000 on their card. This credit limit allows you to use your credit card to make purchases, or a balance transfer from another credit card of up to £5000.

£5000 Credit Card LimitIt is important that credit card customers stay within their overall credit limit. Many credit card companies will charge the customer a fee if they exceed their credit limit.

A £5000 credit card limit on a new UK 0% credit card gives the customer the ability to spend up to £5000 on new purchases. This can be in one transaction, say a new kitchen, or alternatively in multiple smaller purchases.

Alternatively, a £5000 credit card limit can allow a customer to make a balance transfer of just under £5000. Many UK credit cards limit balance transfers to around 95% of the customers’s credit limit. So, a credit card with a £5000 limit will allow a balance transfer of at most £4750.

£5000 Credit Card Limit

The credit limit given to a customer applying for a new 0% credit card depends on their individual financial status. Not every customer will receive a £5000 credit card limit.

Credit card limits have generally tended to be smaller recently for many new customers. This is a legacy of the “banking crisis”, and also more recent warnings from regulators regarding consumer lending.

The banks and financial institutions that issue UK credit cards, have generally been more careful with their lending recently.  As a result, getting a credit card with a £5000 limit has become harder for many more customers.

A customer is now more likely to obtain a higher limit credit card, such as a credit card with a £5000 limit, when they closely match the profile that the credit card company is looking for.

All of the credit card companies have different requirements when assessing a credit card customer. A customer is more likely to be accepted for credit cards with a £5000 limit if they meet the following criteria:-

  • You have a good credit history or rating
    • You should have no recent bad debts or missed payments
  • An income of £20,000 or more a year
  • You have low levels of other outstanding debt, in relation to your overall annual income
    • This does not include your mortgage, if you have one

Credit Card With 5000 Limit

What are the 0% credit cards best suited to a £5000 credit card limit in the UK in 2018?

Credit card limits for UK customers will vary depending on the individual and also the credit card company. In our experience, some of the credit card companies are more generous with their credit card limits, than others.

The following featured credit cards are more likely to be suitable for a UK customer looking for a £5000 credit card limit:-

0% Credit Card Offers

Balance Transfers:
0% for up to 35 months
Balance Transfer Fee:
2.85%
Purchases:
0% for 3 months
Representative APR:
18.9% APR (variable)
More Information

Credit Card Details

Post Office Money Balance Transfer Credit Card*
  • 0% for up to 35 months on balance transfers made within 3 months of account opening
  • 2.85% balance transfer fee applies
  • 0% on all purchases for the first three months
  • No cash fee to buy travel money at the Post Office
  • Manage your account 24/7 with Post Office Money mobile app
  • Annual Fee: £0
More Information

Application Criteria

Post Office Money Balance Transfer Credit Card*
  • You are a UK resident
  • You have a bank or building society account
  • You have an annual income of £8,000 or more excluding unemployment benefits
  • You are aged 18 or over
  • You have no county court judgements
  • You must not already hold a Post Office Money Credit Card
More Information
A 2.85% fee applies and balance transfers must be made within 3 months of account opening
Representative Example: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)
Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender

0% Credit Card Offers

Balance Transfers:
0% for 32 months
Balance Transfer Fee:
0.99%
Purchases:
0% for 6 months
Representative APR:
18.9% 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: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for 25 months
Balance Transfer Fee:
2.89%
Purchases:
0% for 25 months
Representative APR:
19.9% APR (variable)
More Information

Credit Card Details

Post Office Money Matched Credit Card*
  • 0% for 25 months on balance transfers made within 3 months of account opening
  • 2.89% balance transfer fee
  • 0% on purchases for first 25 months
  • No cash fee when you purchase Post Office Travel Money
  • Manage your account 24/7 with Post Office Money mobile app
  • Annual Fee: £0
More Information

Application Criteria

Post Office Money Matched Credit Card*
  • You are a UK resident
  • You have a bank or building society account
  • You have an annual income of £8,000 or more excluding unemployment benefits
  • You are aged 18 or over
  • You have no county court judgements
  • You must not already hold a Post Office Money Credit Card
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)
Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender

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
£25 cashback when use card for minimum of £300 for either purchases or a balance transfer within 60 days of account opening (terms apply)
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:
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*
  • Our credit cards are just for members. Youre a member when you have a current account, mortgage or savings account with us
  • 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
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)

When looking for credit cards with a £5000 limit, or indeed a £6000 credit card, customers should consider cancelling unused cards. Having large credit limits on other existing credit cards that you are no longer using, may affect your application.

After cancelling an old credit card, any reduction in your available credit may take several weeks to show in your credit history.

£5000 or 7000 Credit Card Limit

The decision on whether to give a new customer a £5000 credit card limit, or indeed a £7000 credit card limit, is solely due to the individual card company.

The card issuer will use the information supplied by the customer on the application form. They will also the information held about the customer by a credit reference agency.

The card company will then base the decision on their own credit limit criteria and and their assessment of the credit rating of the customer.

On any given day, one customer may get a credit card with a £5000 limit, whilst another very similar customer applying for a different card may get a£4000 credit card limit or a £7000 credit card limit.

A credit card with a £5000 limit in the UK can be obtained as either as MasterCard or Visa branded credit card. The choice of Visa or MasterCard has no influence on the credit card limit given to the customer.

UK credit limits truly are very dependant on your own individual financial circumstances.


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