Existing virgin balance transfer

cattytown

I have a virgin 0% card that is approaching the end of the interest free period. I have a significant balance on it.

I note there is an promotion on at the moment "0.0% until 8 January 2010 on all balance transfers completed before 8 September 2009
A transfer handling fee will apply of 2.98% of the transaction (minimum of £3.00)"

I have adequate credit limit on my daily card to transfer the balance out and back.

Anyone know if there are any little conditions in there that would make this uncomfortable for me?

I know that I will pay the 2.98% feem and that it is only six months interest free, and I may incur charges with my existing card, but I just want to check if there is a little sting in the virgin tale that means there is a condition that would prevent this.

Thanks,
Paul.

Simon_Preston

Depends on what your current balance is and what the apr is on that. Then estimate your interest charges over a 6 month period and what your balance transfer fee's are (to another card and back). Then you'll know whether its worth doing or not.

cattytown

Thanks for the reply - I am OK on the working out of worth doing, I was just wondering if there was some little cause in there that said a balance tarnsfer out then in would not qualify for the promotion...

CannyJock

No special clause that prevents it, it all comes down to the arithmetic.

cattytown

Thanks. It is now a little moot anyway - just found out after digging that my "main" card has a limit for balance transfers and that would be the blocker.

Paul.