Balance Transfer Question

Cyclonium

Hi All,

Just thinking about applying for a Virgin CC to transfer a balance across to it.

I am going to the states next month and the balance on my current credit card sits at 1100 after flights and other misc things. Now i can pay this off but that will leave me very short for the trip.

What I would really like to do is transfer this balance onto a 0% card and then deal with it when i can after i get back. I cant see any problems there.

Now heres my question, with the Virgin card you have 60days to transfer a balance. So I can transfer over the 1100 pretty much straight away. What I am thinking of doing is then using my creditcard for the trip and also transferring that amount over when i get back.Is it possible to do this ie make two balance transfers from the same card within the 60 days?

Cheers
John

flutterbyuk25

Cyclonium wrote: »

Hi All,

Just thinking about applying for a Virgin CC to transfer a balance across to it.

I am going to the states next month and the balance on my current credit card sits at 1100 after flights and other misc things. Now i can pay this off but that will leave me very short for the trip.

What I would really like to do is transfer this balance onto a 0% card and then deal with it when i can after i get back. I cant see any problems there.

Now heres my question, with the Virgin card you have 60days to transfer a balance. So I can transfer over the 1100 pretty much straight away. What I am thinking of doing is then using my creditcard for the trip and also transferring that amount over when i get back.Is it possible to do this ie make two balance transfers from the same card within the 60 days?

Cheers
John

Yes you can do two or more BT's as long as you are within the BT time limit of the card and your credit limit. You cannot normally BT more than 95% of your available credit.

HTH

x

CannyJock

If the timing is an issue, the Virgin Card will also let you transfer the balance you currently have and then transfer up to 95% of your balance to your current account (transfer to your current account is 4% fee). You can then spend the money from your current account using a debit card?

Need to work out what your budget is for the trip and make sure you don't take more out than you'll need, incurring unnecessary fees and a bigger balance to repay.

Oh yeah, and make sure you setup a DD for at least the minimum on the card to avoid missing a payment and losing your 0% promotion.