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

mary

I left it blank and was going to ask them when I activated the card later.

KILOCHARLIE

To the people who are getting large limits, are you mentioning a BT while applying?

Moggles_2

Dagobert wrote: »

On the application form, you have to specify existing borrowings /credit cards. I have no outstanding amounts to enter.

If you have no outstanding debts, I'd leave that section blank.

But that will seem a bit strange when I request a BT later

Oh I don't know. You could have since paid for some home improvements say or other major purchase

Moggles_2

KILOCHARLIE wrote: »

To the people who are getting large limits, are you mentioning a BT while applying?

Like mary, I always request my BT(s) when I call to activate.

There's no evidence that a BT request made during the application process has any effect on the credit limit you're handed.

Dagobert

OH has an existing Virgin card with a few hundred at 0% on purchases, which expires in 3 weeks.

What's the best course of action:
- pay it off now and apply
- apply, wait for confirmation, pay off old card, BT

Moggles_2

Dagobert wrote: »

OH has an existing Virgin card with a few hundred at 0% on purchases, which expires in 3 weeks. What's the best course of action: pay it off now and apply, apply, wait for confirmation, pay off old card, BT

I doubt whether a balance of a few hundred would be of much consequence, unless you have a lower than average annual income.

This is just my opinion of course.

Codswallop

Got rejected. Been a Virgin card customer before and paid off in full. Plenty of equity in house, earn 90k . Mortgage £325 a month . Have about 8 credit cards with anything from £2000 to highest being £10,000 on them.

Not sure if the amount of credit cards are putting them off or the fact that I usually pay off the 0% card before the time is up and it doesn't make them enough revenue.

It's becoming very difficult to get a 0% BT - also rejected for a Barclaycard. I am beginning to be concerned about what will happen when all the other 0% BT rates come to an end. Working all the hours that God sends - I should just live at the office. If all else fails I will have to get a second weekend job too.

itzmee

KILOCHARLIE wrote: »

To the people who are getting large limits, are you mentioning a BT while applying?

Yes, also didn't select PPI

Codswallop

Forgot to say, I asked for a £10k limit split between 2 cards and gave them the go ahead to do it straight away. Is this the wrong thing to do.

Is it a myth that you should go for a low transfer, wait to see what they give you and then transfer more? Does it make any difference?

CannyJock

Codswallop wrote: »

Have about 8 credit cards with anything from £2000 to highest being £10,000 on them.

It's becoming very difficult to get a 0% BT - also rejected for a Barclaycard.

I am beginning to be concerned about what will happen when all the other 0% BT rates come to an end.

Do all of the 8 cards have 0% deals running on them?

Barclaycard only allow up to 5K on 0% deals so no great loss IMO.

You should close down any cards you're not using hoping for either an offer to keep the card or a successful new application before the other 0% deals expire. If you were thinking of just flipping the debt forever and a day then you'll understand that this is fatally flawed.