Comparing UK 0% credit cards online since 2002What is the biggest credit card limit? What are the best credit cards with big limits, in the UK?
These are both questions that we have seen many times over recent months, and indeed years. Many UK credit card customers have questions about big limit credit cards.
The credit limit is the maximum amount that a credit card company will allow you to spend, using your credit card. You can spend up to this amount using your card. This could be in one single transaction, or as is more often, on more than one transaction.
If you go above the card limit you have been given, then two things may happen. First, the card company may refuse to allow the transaction to go through. Second, some card companies will also charge you a fee, for going above your credit limit.
What Is The Biggest Credit Card Limit?
Credit limits are decided by the credit card company when you make a credit card application. The card company will use the information you provide on the application form, including your monthly income and expenses. The card company will also use information held about you, which is available to them, from a credit reference agency.
Your given credit limit is largely defined by your own financial circumstances, as well as your overall credit history. Customers with a good credit history, steady employment and low overall debts are more likely to be eligible for credit cards with high limits.
However, if you have had recent bad debts, have missed payments and a poor credit history, then you are unlikely to get a new credit card with a big limit.
So what is the biggest credit card limit a UK customer could get?
In theory, there is no maximum credit limit in the UK. However, the credit card companies do tend to be wary of handing out credit cards with big limits to new customers, that they don’t know very well.
Some customers may get a credit card with a £5000 limit. A small number of UK customers may even get an initial 10k credit card limit. Credit limits bigger than this, are more likely to be reserved for customers who have had a credit card with the company, for a while. This allows the customer to prove they can use their card in a responsible manner, by making all of the regular monthly repayments.
Credit Cards With Big Limits
The average credit card limit in the UK is currently around £4000. Some card companies do however, tend to be more generous with their credit limits, than some others.
The following featured cards are more likely to be suitable for customers looking for the biggest credit card limit:-
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- 0% for up to 12 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for up to 20 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
- 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
- 0% interest for up to 16 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for up to 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
- 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
- 0% for up to 26 months on balance transfers made within 90 days of account opening
- 3.49% 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
- 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
- 0% interest on balance transfers for 20 months
- 3.24% or 4.24% balance transfer fee on transfers made within first 90 days (minimum £4)
- 0% interest on purchases for your first 3 months
- Collect up to 3 Nectar points per £2 in Sainsbury’s, Argos, and Habitat
- Collect 1 Nectar point for every £5 spent on your card elsewhere
- Online account management
- Annual Fee: None
- You have a permanent UK address
- You have not been declined for credit in the last month
- You do not have a history of bad credit
- You are aged 18 or over
- 0% interest for up to 26 months on balance transfers made within first 60 days of account opening
- 3.49% 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
- 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
Even if your limit is lower than you would initially like, you can still increase the size of your credit limit over time. Generally, after a customer has had their credit card for several months, you can then ask the card company to increase your card limit.
The card company is more likely to look favourably on this request, if you have stayed within your existing credit limit. You will also need to have made all of your monthly repayments on time.
Credit cards with big limits are available on both Visa and Mastercard credit cards. The choice of payment network that the credit card company uses, has no effect on your overall card limit.
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