Santander Balance Transfer Card

patch9495

Morning Everyone,


I am looking at transferring my balance of £3500 on my 0% Barclaycard to the Santander 0% Balance transfer card once the 0% expires on my BC.


Does anybody know what the maximum credit limit on the Santander card is as the website states an assumed credit limit of £1200. Could this be increased to cover the full balance?


I have an excellent credit score and ensure all cards are paid off in full apart from those with 0% offers.


Thanks
Alex

[Deleted User]

£1200 is the representative limit on all cards.

Your limit will be determined by your income and credit history, but not by your credit score.

patch9495

Is there any general rule of thumb that applies in these scenarios?
At the time I will have 70% credit utilisation on my BC however will look at increasing the limit on this to reduce this.


My aim is to shift the entirety of my BC debt to the new Santander card and in essence buy myself another 2 years at 0% once the 0% on my BC expires,


Thanks
Alex

[Deleted User]

No. There are too many factors involved - your income, existing debts, existing limits, payment history, ER, financial associates and so on.

It's about assessing the risk you represent.

You have a low limit currently on your Barclaycard. If this is your only card, then you look quite over utilised, albeit at 0%.

patch9495

Would it be worth me applying to get my BC limit increased now then? What would be classed as a decent credit utilization?


The only reason have this much debt is due to stoozing the cash during the 0% period. I would have thought though that a higher limit on my BC would reduce the attractiveness of Santander offering me an increase limit?


Thanks
Alex

[Deleted User]

I would just get on with applying.

A higher limit on your BC - or indeed having a number of other cards - would have shown other lenders that you are a little more trusted than you currently are, but I wouldn't both messing about with it now.