Highest limit card with 0% BT/purchase

ChowFan

Hi everyone. I'm thinking of buy a car soon and one of the options I was thinking of was buying on credit card. My budget is around 8k. I have a fairly high limit on my current card (>£8K) so I could just use that and then BT as much as I can get - would this be a good idea? Or just do half cash half credit with a new card? Either way, what's the likelyhood of getting a good credit limit on a new card (eg, over 5k). I have a pretty good credit history. Thanks for your thoughts.

Tixy

New cards with starting limits of more than £5k do exist but are much less common than they usde to be. 0% cards are also much harder to get than they ever used to be and are pretty much reserved only for people with perfect credit history.
Impossible to even guess without knowing more about your finances but I'd think you'd need to have high earnings, a near perfect credit history and a low debt to income ration to be successful.

Personally I'de be very careful about putting a car purchase of £8k on a credit card - even if you could obtain a 0% deal for some of it how much would you realistically clear within the interest free period. I wouldn't count on being able to keep tarting the balance around to new 0% deals whilst you pay it off, as these are all getting harder to obtain and there are frequent posts on here of people who are stuck with large balances on cards now at high interest rates.
Obviously if you intend to pay off the whole balance within the interest free period of the first card this warning isn't necessary (although if you can pay it off that quick could you not wait a while and save up some of the money first anyway?)

horngkai

Just applied for tesco CC. £5750 limit. Got £4k from M&S. Try your luck

sujman

The new virgin money card with BT rate of 1.50% gave me £10k limit! Highest I've ever got from any card in recent times.

exel1966

The MBNA range of cards give the highest limits. It's still possible for those with excellent histories to obtain limits circa £10-20K.

lvm

I was sorting my friend's finances out for her and applied for Barclaycard Platinum. She has a default (albeit for £39) from Next in November 2009 and she was accepted with a limit of £6,500. 0% for 18 month I think it was.

Worth doing Moneysupermarket's search thing to see likelihood of acceptance first...