Credit card - Balance Transfer highest card limits

shazkhan111

Hi, 

I need a BT credit card with no fee. Can see a few good ones that would fit the bill under the cards and loans question. Question is I need c£13k to clear off the debts I have. I have an excellent credit score so asking does any one have experience of applying where the credit limit is reasonable in line with what i need?

Trying to avoid applying for multiple cards with £5k limits for example.

Thanks

[Deleted User]

Your excellent credit score isn't a factor in getting a card or determining the limit. They'll be assessing you for risk and affordability and your existing debt is going to be the biggest stumbling block, even if your history is good.

Some lenders anecdotally give higher limits, such as MBNA for example, but there is no hard and fast rule.

Naomim

I have an excellent score too. 999 with Experian but it means nothing.

My affordability is very weak and whilst I probably could get a BT card, I definitely wouldn't get one with much credit limit or with a 0% fee. I suspect you are the same.

Have you joined the MSE credit club and looked at your affordability? 

Ebe_Scrooge

As above, you have no way of knowing what limit you'll be offered.  The lender will only decide that after your application has been accepted and they've churned your data through their systems.

For what it's worth, I applied for a Sainsbury's card a couple of years back and was given a £15k limit - far higher than I needed or would ever use.  However, if you've currently got £13k of debt - that, presumably, you've been unable to clear in a reasonable time - I suspect you won't be offered anything like £13k on a new application.  The advice is, as always, take what you can get, transfer what you can, and then go all-out to clear the remaining expensive debt as fast as possible.  You could try applying for 2 cards, but more than a couple in a short space of time starts to ring alarm bells for most lenders.