Stuck with Virgin???

newmum77

Hi there,

I have a Virgin credit card with a £13K balance (whoops!), I am being charged 16.9% APR and want to switch to another card(s), but the minimum repayment with Virgin is 1.5%, all the other cards I look at are 3% and whilst I am on maternity leave I can't afford it. Are there any other cards out there with a 1.5% min repayment? If I could do a balance transfer (0% or fixed at a low rate) that would be great.

Thanks in advance

Moggles_2

0% is currently available to new customers from Halifax on balance transfers made in the first 90 days. There's a 3% BT fee.
IME and from feedback here, credit limits are generous and the minimum monthly payment is just 1% of the balance shifted

http://www.halifax.co.uk/creditcards/pluscard136.asp

Moggles_2

P.S. £13k may be stretching things a bit, but then none of us knows in advance the limit we'll be handed.

If the worst happens, Martin's advice is to transfer what you can. It's on your credit files, so you may as well use it. You'll still save money (See Martin's *Credit Card Limit: didn't get what you wanted?* article.)

http://www.moneysavingexpert.com/cards/bad-credit-rating

newmum77

Thank you! Just been accepted with a £5.5k limit:-) Are there any other cards with low min repayments? Looks like I will need another one or two!

Moggles_2

newmum77 wrote: »

Just been accepted with a £5.5k limit. Are there any other cards with low min repayments? Looks like I will need another one or two.

Congratulations on getting accepted by Halifax.
:beer:
You'd get 0% until 1 August 2010 with Egg. A 3% BT fee applies.
The minimum monthly payment is 2% of the balance shifted

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

newmum77

Already have Egg...not used it for a while but I didn't cancel it (off to do that now). Sorry to be a pest, but any others?

Moggles_2

newmum77 wrote: »

Already have Egg...not used it for a while but I didn't cancel it (off to do that now). Sorry to be a pest, but any others?

To help you, we need to know which cards - besides Egg, Halifax & Virgin - you have at the mo or have held recently.

newmum77

Thank you! I have Virgin, Egg (repaid but not closed), Citibank (repaid but not closed), Tesco (repaid but not closed), Halifax (just applied for)...that's it. I used to be a great rate tart, but over the last few years work got too busy and now I have my little helper to keep me busy.

Your help is greatly appreciated

Moggles_2

newmum77 wrote: »

I have Virgin, Egg (repaid but not closed), Citibank (repaid but not closed), Tesco (repaid but not closed), Halifax (just applied for)...that's it. I used to be a great rate tart, but over the last few years work got too busy and now I have my little helper to keep me busy.

0% for 12 months is available to new customers from LloydsTSB. There's a 3% BT fee.
The minimum monthly payment is 2% of the balance shifted.
Note minimum spend of £100 to qualify, so you may want to pay this off first before you request your BT, otherwise you'll pay some interest on the £100 purchases after the first three months.

http://www.lloydstsb.com/credit_cards/platinum_card.asp