Closing Virgin plus EGG questions

happyhero

Hi
I have looked but cannot find the answer so sorry if this has been asked, and I am sure it has.

I have an Egg card coming up to its anniversary so obviously I have not and will not close that account, but I have a Virgin card that recently ended it's 9 months at 0%, bearing in mind this card is a SBT, do I close it or not, and if not why not?

Also I have found the answer to this but it was so unclear, so I will ask it here. I originally did a SBT from my Egg to my current account on 18th Dec 2004, and it arrived in my current account on 22nd Dec 2004, so when can I do this again, ie when does my anniversay start, is it 1st, 18th or 22nd of Dec 2005. HELP!

Also isn't just before you do the anniversary SBT the best time to ask for a credit limit increase, ie then you have been with them a while and made all good payments?

Any info appreciated.

YorkshireBoy

happyhero wrote:

...I have a Virgin card that recently ended it's 9 months at 0%, bearing in mind this card is a SBT, do I close it or not, and if not why not?

Personally, I'd ring to close it. You may be put through to a 'customer loyalty' department who may offer you a deal to stay. Do your sums beforehand to see what kind of offer is profitable for you, ie 0% for 6 months with a 2% (max £50) BT fee, 1.9% for 9 months with no fee etc. If they don't offer you anything, then close the card to reduce your 'available credit', wait a while, check it's marked as 'settled' on your CRA report, and then apply for something else.

happyhero wrote:

I originally did a SBT from my Egg to my current account on 18th Dec 2004, and it arrived in my current account on 22nd Dec 2004, so when can I do this again, ie when does my anniversay start, is it 1st, 18th or 22nd of Dec 2005. HELP!

The anniversary offer starts on the 1st of the month in which your account was opened last year. The best people to ask when your month is are Egg - via secure messaging. I don't want to alarm you, but you should check your account wasn't opened in November, because it normally takes a couple of weeks or so to get the Egg card up and running - signing forms and postal delays etc. If this is the case, you've missed the anniversary offer!

happyhero wrote:

Also isn't just before you do the anniversary SBT the best time to ask for a credit limit increase, ie then you have been with them a while and made all good payments?

I believe the best approach is to request smaller increases regularly (between the end of the introductory period and the start of the anniversary period if you're in your first year) to build up the limit gradually. These can normally be agreed online there and then.