virgin card

GAVMULLIGAN

i have a virgin credit card 0% bal transfers 14months the balance i have is about £3400 (approx) can someone tell me why the min payment is only £25. my friend has same card but she has £6000 on hers, her min payment is still only £25. Does this £25/month thing change once the interest free part runs out????

CLAPTON

the virgin website says as follows:


Minimum repayment

• Your balance (if this is less than £25); or
• whichever is the greater of: £25; or the total of any payment protection cover charges, interest and default charges plus £5.

Moggles_2

Have you and your friend estimated how long it will take to clear your debts in full?

Will you have savings to fall back on if a new BT deal with a sufficient credlt limit does not materialise?

If so, that's great. Just be aware that Virgin has a habit of raising the standard rate to anything up to 34.9% APR variable when the promotion ends :eek:

td_007

Used wisely this is a big advantage of virgin card i.e. a fixed payment of £25 as minimum. For other cards it is usually a percentage of the outstanding amount. This means that if you are stoozing then there is more in the bank to earn interest (what interest you might ask!!!) or are not under immediate pressure to pay a larger amount. Either way make sure you have the outstanding amount in hand (or a BT card ready) when the deal ends.

kestra

is there any other cards that do 25 min?