Credit Limit of a Balance Transfer Credit Card!!!

a) Which 0% Balance Transfer Credit Cards have you recently applied for and what was the highest credit limit and longer interest free period they approved/gave you?

My credit limits vary massively between providers, ranging from £3,000 to over £13,000. As Dobbibill says, decisions are based on individual credit histories so there is little benefit looking at other's experiences.

Having said that, Barclaycard, MBNA and Virgin have been the providers which have consistently given me the largest credit limits over the years.

I only take offers with 0% fee, and most of these have been for 12 months. Santander was much longer though.

b) How much money did you need to transfer and what were the actual credit limit and interest free period you received with the Balance Transfer Credit Card?

I take as much as offered. I don't need any particular amount, I just use it as a line of free credit which is then put toward other financial goals.

I usually select that I will do transfers later during application stage. If I put an amount, it will be for something quite large, around £10 - £15,000. I have no idea whether this influences any issuing decision, and if so what an 'optimal' figure may be.

c) What was the condition/nature of your Credit History (Electoral Roll, Defaults, CCJ, etc) when you applied for these Balance Transfer Credit Cards?

Spotless in all ways except a large amount of unsecured credit spread across a lot (about 7) cards, both in terms of access to unused credit and use of of credit.

I try to keep used credit/available credit and used credit/annual gross income around the 50% marks as far as possible but particularly with used/available this can be difficult. I can usually push both limits beyond 50%, but only to about 60-70%.

jhon_83 wrote: »

So what do you suggest me to do?
I urgently need to transfer £4000 from an Aqua Card that's charging me £150 per month (contractual minimum payment). I definitely do not want to carry on paying £150 in interest but to repay the debt.
Should I ask for a £8000 Credit limit when applying for the 0% Balance Transfer Card and cross my fingers to receive half of that amount?
What can I do to get £4000 as my Credit Limit? Is there any strategy/loophole?

If you have an Aqua card, that says your credit history is poor which means all the 0% offers will likely not be available to you as they tend to be reserved for those with a good/excellent credit history and high credit limits with a combination of good/excellent credit history plus high income/low debts.

Your chances of getting another card with a £8k limit would be slim to none, I'd hazard a guess of getting a limit around £1k mark if you are lucky, with another subprime lender.

By all means, use the eligibility checker to see if anything comes up, but don’t hold your breath.
https://www.moneysavingexpert.com/eligibility/credit-cards/

I think your best bet will probably be Capital One:
https://www.capitalone.co.uk/creditcards/0-balance-transfer-credit-card-12-months.jsf

All you can do is apply for what is available to you and move as much money across to 0% where possible, and then take a look at your income/outgoings and cut out anything unnecessary and throw the spare money at clearing the Aqua debt.