Virgin card accepted!! £17,000 limit!!!

tko187

Hi guys i just applied for a Virgin c/c yesterday night and was approved, they set my limit to £17,000, i was quite surprised, at the end of the application it stated that i would receive my card in 7-10 working days, the only thing i was wondering was that i havent received an email to confirm i am getting this card, if anyone has any experience with Virgin cards could you please brief me if i should just wait till 10 days to see if the card arrives or should i apply again. I just rhought they would send out a email like Egg do?? I cant check my details online, should i call them, just worried that i might not get this. Thanks

Volcane

You will get an email and a text message in a few days if my application was anything to go by!

Well done on the credit limit by the way, it's the largest I've personally heard of on that card for a first time application. Can I ask did you have a credit file free of any other searches or card balances?

tko187

Thanks, no i didnt have a cedit file free of searches or card balances, i also just received and Egg card which i applied for a week ago, i got a credit limit of £7500 on that and have already transferred £7000 to pay off my hbos card which has been maxed at £9500 so i still have a remaining £2500 to clear hbos. Now that i have received £17000 FROM vIRGIN WHAT IS THE BEST THING TO DO WITH THIS???

tko187

Can i stooze this Virgin balance?? Oh yeah i forgot to say i also have a paypal c/c which has 3500 racked up on it, what i am trying to do is wih the 17000 i will pay the 7000 egg balance then also the 3500 paypal balance and also the remaining 2500 Hbos balance all totalling 13000 this means i will have 1 payment with Virgin, is this the best thing to do, i really need some help, oh does anyone know what the minimum payment would be for 13000?? Pls advise what my best options are to do with the Virgin 17000, Thanks,

frugallass

buy Martin a new shirt

tko187

Yeah i will if i have to, but seriously people advice needed.

Volcane

I would pay any other balances off that are not 0% deals and stooze the rest.

Virgin is an MBNA backed card so minimun payment will be a little over 3% for your first payment (to cover and avoid paying interest on the balance transfer fee) and then £25.00 per month thereafter.

Any MBNA backed cards have a minimum payment of £25.00 regardless of balance.

tko187

Thanks, that was what i was planning, so you mean that the minimum is £25 no matter what my balance?? Also can i transfer the remaining balance to my bank account, i take it they willsend out cheques? Thanks.

nzseries1

They will send out cheques, or you can ask them to do a "money transfer" to your bank account when you activate your card, or you can do it through their online banking.

Yes, after the first payment which will include the BT fee, the minimum payment is £25 no matter what.

tko187

Ok so say i transfer the whole lot

paypal £3500
hbos £2500
egg £7000
edge £850
rbos overdraft £1100

Total £14,950.00

Remaining balance on Virgin would be £2050.00, if i stooze this, i would max my virgin and my minimum payment would only be £25.

After how long would my minimum payment go up and how much is it likely to be?

Also if i stooze the remai ning balance how much am i likely to make?

Thanks .

YorkshireBoy

tko187 wrote: »

egg £7000

Why would you transfer Egg? You've just paid a 3% fee for 14/15 months 0%.

After how long would my minimum payment go up

How long is the introductory period?

and how much is it likely to be?

Currently the greater of £25 and 'interest + £5'.

Also if i stooze the remai ning balance how much am i likely to make?

https://www.stoozing.com/calc.htm