balance transfer dilemma

Caroline12345

I applied today for a 0% balance transfer card with Barclaycard.Eligibility checker suggested a 95%chance of acceptance I put on the application that I wanted to transfer just under £20000 in total from 3 other credit cards. They accepted me for the card but only offered a credit limit of £3800 with a maximum balance transfer of £3400.Is this normal?. Should I apply for further cards and move the balance across a number of cards?. Should I make further applications now or wait a period of time.Any guidance appreciated.

Nebulous2

£20k is very ambitious for a balance transfer. What is your salary and other commitments?

One more quick application if you haven't had any for a while might be okay, but after that it is going to get more difficult.

Doctor_Duke

I have to say £20k is very high. I am a high earner and I never ask for a limit of more than £7k to £10k. It takes time to build up high limits with most lenders. MBNA are sometimes the exception and have an eligibility checker that doesn't leave a footprint on your credit file. The same as Nationwide but they tend to offer low limits to start with.

Ben8282

I agree. A £20,000+ initial credit limit is a lot to ask for especially if you already have that sort of balances on other credit cards. That sort of credit limit is usually built up.