Have just got a virgin cred card - but have spent on it!

steveOooo

have transfered a balance of £830-ish to my v.credit card.

Have spent £10 in the past week on purchases. Ive read somewhere on here 'NOT TO SPEND' on balance transfer cards.

So, what will happen now? shall i just pay off the £10 purchase? I have a 3 month free interest on purchases. My credit limit on the card is 4k, i was going to put 3k into a cash isa, then put back into the virgin credit accoun in 14months time - the interest (calculates at around £150)

turbulentfurball

Any repayments will pay off the balance transfer first, so you'll start to pay interest on your purchases after the three month introductory period for purchases.

tupacpalaman

Ahhhh ic....thats better...thanks for it.

Incapuppy

Spam by tupac reported

NickX

steveOooo wrote: »

Have spent £10 in the past week on purchases. Ive read somewhere on here 'NOT TO SPEND' on balance transfer cards.

Well don't spend on the card anymore, but as its only £10 I think the interest that you will pay will be minimal - possible £1.50 - £2 over the course of a year.

So I wouldn't worry too much, but don't spend on it again

YorkshireBoy

Virgin (MBNA) have recently tweaked their T&C's and now where you have more than one 0% promotion (eg BT's and purchases) your payments go towards the 0% offer expiring first...ie, your purchases.

https://wwwa.applyonlinenow.com/UKCCapp/Ctl/link?eid=EF3C6FB7
(See condition 2f)

NickX

YorkshireBoy wrote: »

Virgin (MBNA) have recently tweaked their T&C's and now where you have more than one 0% promotion (eg BT's and purchases) your payments go towards the 0% offer expiring first...ie, your purchases.

Even better news. You CAN just pay of the £10 and stop the interest accruing.

This would now appear to be an exception to the "golden rule".

YorkshireBoy

NickX wrote: »

You CAN just pay of the £10 and stop the interest accruing.

Since the OP's minimum payment is £25 (from month 2 onwards) and so covers it, there may not be a need to do anything Nick.

steveOooo

with the balance transfer, do i have to make a minimum payment every month? i was going to just transfer back the money before the 15 month offer ends

mintymoneysaver

Yes you do have to make a minimum payment. The best thing is to set up a direct debit for the minimum.

steveOooo

ah ok, even though i have 14months left of the 0% balance transfer fee?