Virgin Balance Transfer Problem

mab_27

hiya guys,

I have had my virgin credit card for 8 months now... I have just gone on to make a small balance transfer. But there is no longer this option online. Is this because they have stopped everyone being allowed to do so online or have virign stopped me from making any more balance transfers? I have 288£ credit left..

Any help will be much appreciated!

flutterbyuk25

My Virgin CC taken out in Jan only allowed me to do BT's within 60 days of opening it.

Check your T&C's.

x

mab_27

surely thats only allowing balance transfers at 0% for 60days though? up until now my accounts always show it as an option saying i can make use of the 0% rate until novemeber and now its gone...

could it be because u cant have nearly 100% of your limit used as a balance transfer?

also... im going to be paying most of it off in the next 2wks.. if i clear it to nearly 0 will they reduce my credit limit or do virgin tend not to do this?

Innocent_Guy

mab_27 wrote: »

surely thats only allowing balance transfers at 0% for 60days though? up until now my accounts always show it as an option saying i can make use of the 0% rate until novemeber and now its gone...

could it be because u cant have nearly 100% of your limit used as a balance transfer?

also... im going to be paying most of it off in the next 2wks.. if i clear it to nearly 0 will they reduce my credit limit or do virgin tend not to do this?

I think they access / review your limit every couple of months

mab_27

ah ok... well i guess thats fair enough.. and if they decrease.. well it stops me beign tempted to spend more =D ...

any thougts on the fact i currently cant make balance transfers online? my undertsnading is that you can always do balance transfers just the 0% doesnt last forever..

i assume that you cant have 100% of credit limit as balance transfer so thats why I can do any balance transfers at the moment?

Innocent_Guy

mab_27 wrote: »

ah ok... well i guess thats fair enough.. and if they decrease.. well it stops me beign tempted to spend more =D ...

any thougts on the fact i currently cant make balance transfers online? my undertsnading is that you can always do balance transfers just the 0% doesnt last forever..

i assume that you cant have 100% of credit limit as balance transfer so thats why I can do any balance transfers at the moment?

I am unsure as to why you cannot do the BT online, may be worth calling Virgin to clarify why. I have the impression that as long as you have the available funds you can BT is for example you have 10k limit spent 8k so could BT 2k to the card...

flutterbyuk25

The limit is usually 95% of your available balance.

x

Moggles_2

Could it be because you can't have nearly 100% of your limit used as a balance transfer?

Virgin restricts BTs to 95% of your credit limit, certainly. This may not be the whole story though. What's your credit limit and are the existing transactions on your Virgin card
charged at 0%?

Also, I'm going to be paying most of it off in the next 2 wks ....

Why pay a BT fee plus interest to shift money you expect to pay off in 2 weeks? Was this small BT to pay off another credit card which you intend shifting the entire Virgin balance to, perhaps?

If I clear it to nearly 0, will they reduce my credit limit ... ?

Not if you've managed your account well. If you always make at least the minimum payment required and keep within your Ts & Cs, Virgin is just as likely to raise your limit.

To help you further, we would need to know what you're aiming to do. Also, which other credit cards - besides Virgin - you have at the mo.

oceanscape

I've noticed that the BT option has vanished from my VA Amex online account too. There is now no mention of BTs whatsoever, yet I'm only using 40% of my limit.

clio

£266 doesn't sound enough for a BT so when there is not enough for a BT they remove the BT option it will come back when balance go's down.