Understanding Credit Card Limit For £50,000 Salary UK

In recent months, I came across with frequent questions among the UK people that what would be the Credit card limit for 50,000 Salary UK?

If you are also looking for this answer, then stick to this article. In this blog, I will help you understand the answer to this question in a few paragraphs.

Before answering your question directly, let’s understand the basics of Credit limits.

What is Credit Card Limits?

Every Credit Card Comes with certain Credit Limits. Here, the question arises: what is Credit Limit? A credit Limit is the maximum amount that a bank allows you to spend from your credit card.

Let us understand with an example. Suppose a credit card has 15000 credit limits. This means you can spend only up to 15000 using your credit card. You can pay either in a single time or multiple purchases but can’t exceed the limit of 15000.

Now, moving to answer your question.

£50,000 Credit Card Limit

This question is obvious what would be my credit limit for 15000 Salary in UK? Well, the answer to this question depends on the individual. A salary of 15000 doesn’t guarantee that you will have a credit limit of exactly of this amount. It varies from person to person.

Another person in the UK can have a 15000 Credit limit with a Salary of exactly this amount. So, the final answer is you can’t predict the exact credit limit of any individual. However, after knowing the salary, you can estimate the credit limit range in the UK.

Read about Very Credit Card Review

Credit Card Limit For 50,000 Salary

In the UK, the average credit limit varies from 3000 credit card limit to 4000. This is because of the bank crises in 2008 and the coronavirus pandemic in recent years.

Now, Credit card companies in the UK are very conscious of giving credit limits to new users.

Still, many credit card providers in the UK give very high credit limits compared to the present market scenario.

Here are some of the credit cards that offer high credit limits. So, if you are looking for a credit card that provides a high credit limit, you can definitely go for it.

HSBC Purchase Plus

Balance Transfers	0% for up to 17 months
Representative APR	24.9% APR (variable)
Balance Transfer Fee	3.49%
Purchases	0% for up to 20 months
Website	Know More

Features of HSBC Purchase Plus

Some of the features of HSBC Purchase Plus Credit Card:-

• 0% interest on balance transfers for up to 17 months (if made within the first 60 days)
• 3.49% balance transfer fee (minimum £5)
• 0% interest on purchases for up to 20 months from account opening
• After the promotional period, standard variable rates apply for balance transfers and purchases
• Worldwide offers and discounts with HSBC Home&Away
• No annual fee
• Online card management

Eligibility Criteria of HSBC Purchase Puls

Check the below eligibility criteria of the credit card:-

• Annual income or pension before tax of £6,800 or more
• UK resident
• Aged 18 or over
• Do not hold an HSBC Basic bank account

M&S Transfer Plus

Balance Transfers	0% for up to 26 months
Representative APR	24.9% APR (variable)
Balance Transfer Fee	3.49%
Purchases	0% for up to 3 months
Website	Know More

Features of M&S Transfer Plus

• 0% interest on balance transfers for up to 26 months (if made within 90 days of account opening)
• 3.49% balance transfer fee (minimum £5)
• 0% interest on purchases for 3 months from account opening
• Collect M&S points every time you shop anywhere in the world with your card
• Earn one point for every £1 spent in M&S and one point for every £5 spent elsewhere
• Manage your account online
• No annual fee

Eligibility Criteria of M&S Transfer Plus

• UK resident
• Annual income or pension of at least £6,800
• Aged 18 or over
• Have not held a credit card with M&S Bank within the previous 12 months

RBS Longer Balance Transfer

Balance Transfers	0% for up to 23 months
Representative APR	24.9% APR (variable)
Balance Transfer Fee	3.49%
Purchases	0% for up to 3 months
Website	Know More

Features of RBS Longer Balance Transfer

• 0% interest on balance transfers for 23 months from account opening (if made within the first 3 months)
• 3.49% balance transfer fee0% interest on purchases for 3 months from account opening
• Lock and unlock your credit card in the app
• Manage your card 24/7 online and via telephone banking
• No annual fee

Eligibility Criteria of RBS Longer Balance Transfer

• UK resident
• Earning at least £10,000 per year
• Aged 18 or over

Credit Limit For 50000 Salary

A credit Card limit for 50000 salary in UK depends on multiple factors. It cannot be decided just by knowing your salary. It depends on your credit history and your income and expenditure as a whole.

Credit card providers in the UK have different methods for deciding the credit limit of the customer.

But here are some of the important key points that every credit card provider uses to allocate the credit limit:-

• Your annual salary or pension income
• Your monthly outgoings, such as mortgage, rent, and other regular monthly bills
• Your home address history
• Any missed payments or bad debt history
• The amount of credit you already have available to you from other cards or loans

Also, the credit card provider uses the information we provide when applying for the credit card. Moreover, some providers have their agencies to gather information about the user before allocating credit limits.

Conclusion

In conclusion, I want to say that I have tried my best to answer your question about the credit card limit for 50,000 Salary UK. Also, I have suggested some credit cards that offer high credit limits.

You have gone through the whole article, and I hope I have answered your queries. If you have any questions regarding this, you can write them in the comment section below.

If you like the information provided in the above article, please share your feedback. Also do share it with your friends.