How much can you balance transfer?

Balance transfer calculator

Before applying for a new balance transfer card, it can help to check how long it may take to repay your balance and whether the transfer limit is likely to be enough for your needs. Using Mintify’s balance transfer calculator gives you a clearer picture of potential repayment times and how much interest you could avoid compared with staying on your current card.

Why your balance transfer limit may be lower than expected

Your balance transfer limit may be lower than expected if the credit limit you are offered on the new card is smaller than anticipated. Because the balance transfer limit is usually a percentage of your credit limit, a lower credit limit reduces the amount you can move.

Other factors can also influence the final limit, including:

• Your income: lenders assess the credit offered against your earnings and overall affordability.
• Existing borrowing: higher levels of debt can result in a more cautious credit limit being set.
• Credit utilisation: using a large proportion of your current credit can reduce how much additional credit is made available.
• Recent credit applications: several applications in a short period can affect the limit you are offered.

These points vary between lenders and form part of their assessment of affordability and risk, so the balance transfer limit you receive may differ from the indicative ranges shown in marketing or comparison tables.

What is my balance transfer limit if I have bad credit?

If you have bad or limited credit, you may still be able to get a balance transfer card, but the credit limit you are offered is likely to be lower than for someone with a stronger credit history. Because the balance transfer limit is usually a percentage of your credit limit, this can reduce the amount you are able to move.

Some lenders offer credit builder balance transfer cards with shorter 0 percent periods or higher fees. These products may reduce the interest you pay compared with staying on a standard credit card rate, depending on how you use the account.

Using an eligibility check can help you see which cards you may be eligible for without affecting your credit score, but it cannot confirm the credit limit or balance transfer limit you will receive.

Balance transfer rules and restrictions

Balance transfer cards come with specific rules that affect which balances can be moved and how much you are able to transfer. These restrictions vary by lender and product, but commonly include:

• Same banking group restrictions: you usually cannot transfer a balance between cards issued by the same banking group, even if the card brands differ.
• Ineligible account types: some lenders do not accept transfers from store cards, non-UK cards or certain specialist credit products.
• Transfer frequency limits: some cards cap the number of transfers you can make or limit how many can be completed within a single statement period.
• Transfer amount caps: there may be limits on how much can be transferred in one transaction or across the lifetime of the promotional offer.
• Time-limited transfer windows: promotional balance transfer rates are usually only available for a set period after account opening, typically around 60 to 90 days. Transfers made after this window may be charged at the standard rate.

These rules are set by the credit card provider and are shown in the product terms before you complete a transfer. They cannot be overridden during the application process.

What you can do if your balance transfer limit is too low

If your balance transfer limit is lower than the amount you want to move, the lender will process only part of the transfer. In this situation, you can choose which balances to move first, often focusing on the ones with the highest interest rate or the shortest remaining promotional period.

You can also check whether you are eligible for another balance transfer card, although multiple applications in a short period may affect your credit rating. Some users choose to wait for their account to stabilise or for their credit limit to be reviewed by the provider, although limit increases are never guaranteed and depend on the lender’s assessment.

Even if only part of your balance is transferred, moving a portion of your borrowing to a 0 percent promotional period can still reduce the interest you pay compared with leaving the full balance on your existing card.

How your credit score affected by a balance transfer

Taking out a balance transfer card can affect your credit score in several ways. The impact depends on how you manage the account once it is open, as well as how much of your new credit limit you use. Key points include:

• Hard searches: applying for a new card usually leaves a hard search on your credit file, which may cause a small, short-term dip in your score.
• Credit utilisation: moving a balance to a new card can change how much of your total available credit you are using. A lower utilisation ratio can have a positive effect, while higher utilisation may have the opposite impact.
• Payment history: making payments on time is essential. Missing a payment can lead to losing the promotional rate and may harm your credit rating.
• Soft searches: using eligibility checks before applying does not affect your credit score, as these checks are not visible to lenders.

How your score changes will depend on your wider credit profile and how you manage your borrowing after the transfer.

Where to find the best balance transfer deals

Balance transfer limits and promotional terms vary between lenders, so it is important to compare the options available before you apply. To see a selection of balance transfer cards in the UK, visit our Top 10 balance transfer credit cards.

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