Can I Transfer Again

[Deleted User]

Transferred my credit card from halifax to virgin and started getting my 0% 3/4 months ago. However i was desperate for money and i had to end up useing my virgin card!!! Now am paying intrest now. So can i transfer to another credit card to get 0% Or will i need to stay with virgin for a period now?

cifpower

No, you can transfer if you want to.

latecomer

You will have to pay another transfer fee but I suspect that will be a lot lower than the interest you are being charged on the amount you used for general spending.

NickX

Deleted_User wrote: »

However i was desperate for money and i had to end up useing my virgin card!!! Now am paying intrest now. So can i transfer to another credit card to get 0% Or will i need to stay with virgin for a period now?

You do not have to stay with Virgin for any set period of time, so provided you are accepted for a new card with a high enough limit you can transfer your balance again.

However, bear in mind that there will probably be a further Balance Transfer fee, so you might want to outweigh which is going to be more costly - a new Balance Transfer fee or the interest that you will pay on your purchases. Of course this really depends on how much you have spent on the card.

Good Luck.

[Deleted User]

well i paid £19 this month and nxt month its estimated at i think £28.92 so ill be better off paying another transfer fee. Thanks guys

NickX

Deleted_User wrote: »

well i paid £19 this month and nxt month its estimated at i think £28.92 so ill be better off paying another transfer fee. Thanks guys

Sounds like you have quite a bit in purchases on there, so yep Balance Transfer to a new 0% is the way forward.

Good Luck with the new application and hopefully you will get a limit high enough to transfer the lot across.

YorkshireBoy

Deleted_User wrote: »

well i paid £19 this month and nxt month its estimated at i think £28.92

Blimey!! How much cash advance/purchases have you put on the card?...or have you fallen foul of the T&C's somehow (paid late?) and lost your 0% rate on everything?

[Deleted User]

i transferred over £175o at the start and was giving a £2000 limit so was ok. however i needed £200 desperatley and this was the only way. But cos i spent some money on the card the woman said i will now have to pay intrest till the card is paid off. I thought u always got the 0% regardless if u spent some money or not. In a way a bit of a con like

NickX

Deleted_User wrote: »

however i needed £200 desperatley and this was the only way.

Hold on, this isn't right though.

If you took £200 out in cash, and they have charged you £19 in interest that is an APR of 114%.

I don't think even Virgin have put rates up that high yet.

On £200 only it should be debateable whether a new Balance Transfer Fee would be worth it.

I think they may have removed your 0% promotion all together.

[Deleted User]

Well i said to the woman should it not only be the £200 am getting charged for and she said no, cos i took money out am now getting charged intrest on my account untill the whole amount is paid off. In other words i lose my free 0% intrest cos i took money out and shouldnt have done that? Now am lost

HELP!!! Will i just transfer again?

NickX

Deleted_User wrote: »

In other words i lose my free 0% intrest cos i took money out and shouldnt have done that? Now am lost

I would ask the CSA to point to the line in the Terms and Conditions that says that making a Cash Withdrawal or Purchase results in the loss of a 0% promotion on the Balance Transfer.

This doesn't sound right to me - I bet there is another reason for the loss of the 0% promotion.

I would push them on it, and if they cannot provide an explanation then they should re-instate the 0% promotion.

If they really won't and insist on charging you interest on the entire debt, then transferring the balance is the best bet.