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What Is A Good Credit Card Limit?

What is a good credit card limit?

A question that we often see card customers asking is, what is a good credit card limit in the UK?

Many UK customers are looking for a credit card with a good credit limit. This is especially true, when they first apply for a new 0% credit card.

A credit card limit, is the credit limit that a new card customer is allocated by the credit card company. This card limit is the maximum amount that the customer is allowed to spend on their credit card.

For example:-

  • You apply for a new credit card and are accepted with a £3000 credit card limit
  • You can now spend up to a maximum of £3000 using your new credit card
  • If you make a purchase that takes your outstanding debt above your credit limit, the card company may decline the transaction
  • Your card company may also charge you a fee if you go above your given credit limit
  • Going over your credit limit repeatedly, could also damage your credit rating

Good Credit Card Limit UK

So, what is a good credit card limit in the UK?

When you apply for a new credit card, your individual financial circumstances will decide your credit limit. The card company will look at your both your monthly income and also your monthly expenses. They will also consider any other debts you have like personal loans, as well as the current credit limits you have on any other cards. Your repayment history, including any recent missed payments is also a big factor in deciding your new credit limit.

As a result credit card limits do vary quite a bit from one person to another. What is a good credit card limit for one person in the UK, may not be the best credit card limit for another.

Some people, with a low annual income, or recent credit problems, may only get a £200 credit limit. On the other hand, some people will get credit cards with high limits, like a £10000 credit limit for example.

£5000 Credit Limit Good Or Bad?

Is a £5000 credit limit good or bad? We have seen this question many times over the last year.

The average credit card limit in the UK is currently between £3000 and £4000.

As a result, many UK card customers would see a £5000 credit card limit as good. Of course, if you were hoping to get a £10000 credit limit on your new UK card, then a £5000 limit may not be a good credit card limit for your individual needs.

Due to the current Coronavirus crisis, many of the UK credit card companies and banks are likely to be quite cautious with their personal lending. The acceptance rates and credit limits, for new customers, are now both likely to be lower.

However, over recent years, we have often seen that some UK banks generally, tend to be more generous with their credit limits. Some other banks and card companies, tend not to be so generous with their card limits.

The featured credit cards below, in our experience, are most likely to be suitable for customers looking for a credit card with a good credit limit in the UK:-


0% Credit Card Expert may receive commissions from some of the credit card companies that we refer users to. How this site works.

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)
More Information

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
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 20 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 months
Representative APR:
21.9% APR (variable)
More Information

Credit Card Details

M&S Shopping Plus*
  • 0% for 20 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 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
More Information

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
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)

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:
21.9% 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: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.95% 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)
More Information

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
More Information

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
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)

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

Your choice of a Visa or Mastercard credit card has no bearing on your credit limit. The size of your credit limit is determined by your individual financial circumstances and the credit card company you apply to.

Customers looking for a credit card with a good credit limit, should ensure that they only apply for cards where they meet all the application criteria.


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Published: July 15, 2021, Updated: July 15, 2021 by 0% Credit Card Expert

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