MSE news: Virgin launches fee-free 0% balance transfer credit card

u01jet4

CannyJock wrote: »

When I was helping a relative with a bit of credit card shuffling, I got him the pink one too for the exact opposite reason - there was no way he'd be seen dead with it in his wallet so safe way to make sure he didn't take it out

Haha great!! must've worked a treat!

CannyJock

Paulgonnabedebtfree wrote: »

Trouble is, I have 4 MBNA cards - all with zero balances. I didn't apply for them that way. It's just that MBNA went around gobbling up other companies with whom I already had cards.
Let's see now. I currently have £29,107.35 debt spread across 7 cards plus a bit over 15 grand on two loans.
I was thinking of being cheeky and applying but maybe I won't bother now .

You've got nothing to lose as far as I can see.

Have you read the other posts where we recommend that people transfer their credit limits onto one MBNA card?

If you got a new Virgin Money card, even with only a £100 limit, you could transfer all of your other 4 limits onto one card (maximum of £25k) and have that as a free balance transfer for the 9 months.

Failing that, worth phoning MBNA to ask for any sort of repeat deals to try and shuffle some of your 7.9% down to 0%

Nailer99

karie wrote: »

i am a bit confused about the egg SBT. i have an egg card which i dont have any balance on at the moment. if i get accepted for the virgin card, can i BT to egg and then SBT to my bank account, all with no fee, or is there a BT fee for the transfer to my bank account?

thanks!

Kerie, If you have a negative balance on a credit card (i.e. they owe you money not the other way round!) they should *never* charge you a fee to withdraw that money - after all it is *your* money. If they say they will, fight them. I have done this many times and never incurred a fee.

I have just been accepted with a fairly large credit limit on the Virgin Card, in spite of already having a MBNA Amex card. This is great! I thought deals like this were long gone.

This is especially good as it allows me to transfer out my balance from Capital One, who *lied* to me about the balance transfer interest rate they would charge! (And yes, I will be pursuing them for a refund via the Ombudsman, I kept all my letters from them stating to me the Interest Rate that they promised to charge).

Nailer99

CannyJock wrote: »

Have you read the other posts where we recommend that people transfer their credit limits onto one MBNA card?
)

didn't know that! Interesting...

Nailer99

danb77 wrote: »

I have done this many times and never incurred a fee.

One warning though, my friend tried to withdraw a negative balance from a NatWest card and they were deliberately slow and incompetent about it. They refused to action a direct money transfer and then spent over a month issuing a cheque.

With Egg you should be fine though.

Paulgonnabedebtfree

CannyJock wrote: »

You've got nothing to lose as far as I can see.

Have you read the other posts where we recommend that people transfer their credit limits onto one MBNA card?

If you got a new Virgin Money card, even with only a £100 limit, you could transfer all of your other 4 limits onto one card (maximum of £25k) and have that as a free balance transfer for the 9 months.

Failing that, worth phoning MBNA to ask for any sort of repeat deals to try and shuffle some of your 7.9% down to 0%

You do have a point there. In fact, I have actually done this in the distant past with MBNA but had forgotten till you brought it up.
You're right. It is definitely worth a punt even if I get a very low limit. I wouldn't be transferring any more than I could repay in 9 months anyway. As I'm a bit stretched financially, that wouldn't be a huge amount but even a thousand at 0% is better than a thousand at 7.9%. I do have a little bit going to 22.9% in a few weeks so it would be nice to avoid that rate if possible.

mary

Gave it a go.
Got £1,700 (being exactly 10% of annual income put on form) - coincidence or not?

Morphosis

Has this card been pulled already? I cannot seem to find it only the 16 month version?!

dov

Morphosis wrote: »

Has this card been pulled already? I cannot seem to find it only the 16 month version?!

Still available at:
http://uk.virginmoney.com/virgin/credit-cards-nofee/?source=VM-MSP-54141-60572

binaryuniverse

I applied. Didn't get one. Boooooo.
Possibly cos I already have some 5 cards and using about 45% of my limit.