Balance transfer fee of 2.98%!

indio1919

Just did a balance transfer from Halifax to Virgin card or around £6k and found ive been stung for nearly £200 because of the small print of an admin charge or 2.98%! Scandalous when they advertise 0% interest rate but then charge that.

Anyhow, a question, is there a limit on how mant times you can balance transfer?

Staciep88

I have a balance on a virgin card at 0% and it makes it very clear that there is a 2.98% fee.

No there isnt, aslong as you know you can only transfer 95% on your limit

nzseries1

It's very clear on the Virgin card (and on the main page of the UK Virgin Money site) that there's a 2.98% fee.

exel1966

indio1919 wrote: »

Just did a balance transfer from Halifax to Virgin card or around £6k and found ive been stung for nearly £200 because of the small print of an admin charge or 2.98%! Scandalous when they advertise 0% interest rate but then charge that.

Anyhow, a question, is there a limit on how mant times you can balance transfer?

What's scandalous is that you didn't bother to read the T&C's which clearly advise that there will be a 2.98% fee. Therefore you stung yourself !
You can do as many BT's as you like up to 95% of your limit, but each time you'll pay 2.98%.

belfastgirl23

Imagine, credit card company in 'tries to make money' shocker...

nobblyned

Small print? hardly

Blindingly obvious more like.

Staciep88

Lol agrees with nobblyned - it is in quite large letters on the site there

Gorgeous_George

oh dear, another member for my ignore list.

I would be more surprised if there wasn't a BT fee.

GG

bigbloke45

indio1919, oh f**k, how much would you have been charged if you had stayed with Halifax?.

Constructive advice is to stop spending money you haven't got and get a handle on your finances; isn't this what this this website is all about?

belfastgirl23

Making mistakes is fine, we've all done it. I just had to pay ulster bank £30 for not repaying my stoozing money in time ... but I'm not blaming them, they're playing by the rules .... I think what we're pointing out is that you have to take responsibility for where it goes wrong so that you learn from it. Blaming the companies won't get you anywhere...

indio1919

Al_Mac wrote: »

So you knew there was a fee. But were surprised that they actually tool it. Is that what you are saying?

No im saying that they shouldnt take it period. Not that i knew or didnt know, just cos its not one of the smaller parts of the small print doesnt mean i have to like it does it? Yes the transfer will save me money in the long term but £200 is £200 isnt it, its an admin fee which they put onto my balance, will it be added to the transfer amount or will it be charged as a new purchase which will mean I will pay interest on it with in a matter of a few months unlike the transfer which is 0% for a year.