Our pick for a potentially high limit transfer card: Citi Simplicity® Card
18 months
Intro APR on transfers
- Market-leading 18 months intro APR on transfers and purchases
- No late fees or penalty APR
- No annual fee
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Compare high limit balance transfer credit cards
We selected 6 balance transfer credit cards out of 200+ to help you consolidate your debt.
High credit limit balance transfer credit cards are a better fit for those who want to transfer more than one credit card balance or a larger debt. But because of the COVID pandemic where many card issuers removed 0% balance transfer offers — your options could be limited.
Finder’s credit card experts spent hundreds of hours comparing balance transfer cards to bring you the six best cards with potentially the highest credit limit.
High limit balance transfer cards
Information on maximum credit limits can be sparse. Most of what exists is anecdotal, and the limits included are estimations based on reviews and details provided by credit card issuers.
Your assigned credit limit varies based on several factors, including your creditworthiness. To receive a higher credit limit, you need a good to excellent credit score.
| Credit card | Estimated maximum limit |
|---|---|
| Luxury Card Mastercard® Black Card™ | $25,000 |
| Chase Freedom Unlimited® | $25,000 |
| U.S. Bank Cash+™ Visa Signature® Card | $25,000 |
| Discover it® Cash Back | $30,000 |
| Citi® Double Cash Card | $50,000 |
| Bank of America® Cash Rewards Credit Card | $95,000 |
Compare other balance transfer credit cards
Even though these cards may not get you the highest credit limit for balance transfers, it may still be a good option to help you lower your debt without paying interest.
Why does a high credit limit matter on a balance transfer credit card?
Credit card providers use your credit limit to determine how much debt you can transfer to a new card. While some cards let you transfer up to 100% or 95% of your credit limit, others may cap it at 70%.
For example, if you had $10,000 worth of credit card debt and got a balance transfer card with a $10,000 credit limit, you might not be able to transfer all the balance to the new card.
A balance transfer card with a higher credit limit of $12,000, on the other hand, is more likely to allow you to move the whole debt. So the higher your credit limit, the more likely you are to meet requirements to get your full balance transfer approved.
How to compare high limit balance transfer cards
Consider the following factors when comparing high credit limit balance transfer credit cards to determine your best option:
- Balance transfer offers.
The market is inundated with 0% intro APR balance transfer offers, but you need to be sure the offer is long enough to consolidate your entire debt. If you have a large debt, consider a long-term balance transfer of 12 to 24 months, whereas a smaller debt might only require a six-month balance transfer offer. - Balance transfer fees.
Most high credit limit balance transfer cards charge a one-off balance transfer fee of 3% to 5% of the total debt you move to the new card. Make sure you check for this cost and factor it in before you apply so you know exactly how much you’ll pay for the card you choose. - Annual fees.
Some high credit limit balance transfer cards have annual fees that can run up to $450. Luckily, most balance transfer cards have no annual fee. - Standard balance transfer APRs.
At the end of the introductory period, the balance transfer interest rate reverts to a higher standard rate. Checking this interest rate before you choose a card and factoring it into your payment plan can help you avoid hefty interest costs down the road.
What to watch out for
Avoid these pitfalls to get the most out of a high credit limit balance transfer credit card.
- Not paying off the balance before the intro offer ends.
Any remaining balance at the end of the introductory period is subject to the higher standard rate, which could make it a lot harder to pay down. - Making purchases on the new card.
New purchases attract interest at the standard purchase rate, and you may not have access to any interest-free days. This also means that any payments you make on the card will go toward the new purchase balance before your transferred debt, so it could take longer and cost more to pay off the card in full. - Not factoring in fees.
Balance transfer fees, annual fees, and other charges will all add to your credit card debt. Consider them when deciding if a balance transfer is worth it. - Minimum payments.
Credit cards have minimum payments between 2% and 3% of the total balance, and you’ll need to meet this requirement each month to keep the account in good standing. - Declined applications.
High credit limit balance transfer cards usually have higher application requirements, including high minimum incomes. Make sure you meet the eligibility conditions to lessen the chances of your application being declined and your credit score being affected. - Canceling cards.
Once the balance transfer is complete, you’ll be responsible for managing or canceling any of the old cards.
How to apply for a balance transfer credit card
Follow these steps to apply for a high balance transfer credit limit credit card.
- Compare cards.
Compare balance transfer credit cards with high credit limits to find one that suits your needs. - Fill out the application.
Provide a range of details including your full name, residential address, driver’s license or passport number and employment details. - Include supporting documentation.
Credit card providers might require a range of supporting documents to complete your application, such as copies of your driver’s license, birth certificate, passport and pay stubs. - Provide details for the balance transfer.
During your application, provide details of any accounts that you wish to transfer balances from including the account name and number, financial institution and the total debt you want to move to the new card. - Submit the application.
You should get a response within a few minutes either on the webpage or via email.
Upon a successful application, the credit card company contacts you to finalize the application and issue your card. After that, you should get the card within five to 10 working days, although it could be up to 21 days depending on the issuer.
After you obtain your card
With some cards, you might need to activate it before the issuer completes the balance transfer process. Keep in mind that this could take an additional two weeks to complete and you’ll need to continue to make any required payments on your existing accounts during this time.
Once you’ve found the right card and your transfer has gone through, keep the following in mind:
- Make sure the old card has been paid off.
While you may be able to check your statement online, there’s the chance that a charge or fee hasn’t shown up yet. Check with the credit card issuer to be sure it’s completely paid off. - Consider keeping your old card open.
Your credit utilization, how long you’ve had the credit and the on-time monthly payments all contribute towards a positive shift in your credit profile. Leaving your old card open can keep your utilization low and history longer. - Plan within the promotional period.
To take full advantage of the low or 0% introductory rate, you’ll want to pay off the entire balance before the period ends and the rate reverts. - Make timely payments
Late payments can end your introductory rate early. Keep up with your monthly bills and pay at least the minimum to get the most out of the promotional period.
What happens if your limit is too low?
A credit limit that’s too low may not be as much of a hindrance as it seems. Here are some different ways you can deal with your transfer amount being more than the maximum limit:
- Transfer what you can.
Transfer as much of the balance that you can to the new card and take advantage of the introductory rate. During this time, you’ll still need to make minimum payments on your original card and the new one. - Request a higher limit.
Try to request a higher credit limit from the provider. It requires calling the issuer or visiting a local office, and there’s no guarantee that the provider will agree to it. - Seek an alternative.
When transferring only a portion of your balance or the credit card issuer won’t raise your limit, it may be time to look for another means if you’re set on moving your debt. A personal debt consolidation loan could give you the maximum limit you need, but you likely won’t benefit from the type of promotion a balance transfer credit card offers.
Bottom line
Consolidating your debt with a high credit limit balance transfer credit card can make it easier and faster to clear the balance because you get the benefit of a lower interest rate and only have to make one monthly payment. Now that you know more about these types of cards, you can compare balance transfer offers and find an option that suits your needs.
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