What are 0% credit cards with high limits?
As the name implies these cards have 0% deals that do not charge you interest on a balance owed but they offer higher limits, usually £1200 or more, which could tempt some customers to go wild at the shops.
To qualify for one of these cards then you’ll need to have a solid credit record and an income of £20,000 or more.
These cards can be useful if you need to make a big purchase, or indeed if you’re looking to consolidate several smaller cards into one account. It’s a legitimate way of organising your finances, but it’s risky. Make your purchase and then pay off the balance, or consolidate your cards and then stop spending. If you run up a large credit card debt that you cannot pay back and the interest kicks in, then you could be in real trouble.