Balance transfer help!

[Charliejr16]

I've just applied for a Santander balance transfer card, to transfer a balance of £6500, I filled in the application and was accepted, they asked how much I needed to transfer when I applied and filled in the details of the credit card I needed to transfer from.

I've just had the card through, activated it and just noticed that they've only given me a £6200 limit. It says that once the card is activated they'll complete the transfer automatically.

So will they transfer £6500 even though the limit is £6200? I'm worried incase it's going to take me over my credit limit! The cards in my husbands name and he's at work so he can't give them a call. I just wondered if anyone had experience of this and could put my little fretting head at ease!

Thank you!

If the debts you’ve requested to transfer total £6200 then that’ll be a remaining £300 on your credit limit.
I think they like to keep a bit of a buffer to encourage you to spend a bit more.

@Sweetandawfulsour sorry I don't think I explained that well! The limit on the new card is £6200, the balance to transfer is £6500, so if they transfer it over will I be £300 over the credit limit? Or will they only transfer the £6200?

They will transfer 6200 and the 300 will remain on your credit card. The limit on new card is 6200.. call them anyway to confirm.

They will only transfer the £6200. You can ring them to see if they will increase the limit - my mum did this and they did. Otherwise you will still be left with an existing balance on your old card.