VirginMoney card offering 0% on purchases - does this apply aboard as well?

wife-spent-it-all

I'm going away to the USA in a few weeks and i was going to use my Nationwide credit card in preference to the VirginMoney one. However Virgin have offered a 0% on purchases deal until May 2010 so is this the better card to use or does the 0% not apply to overseas spending?

I'll probably give them a call if no-one here knows for sure, but I'm always wary of what call centre staff tell you over the phone.

Thanks
Ian

byebyedebt

Normally you pay a fee for currency tranasctions, so even if the purchase is free you will be paying interest on the tranaction and that will continue until the balance is paid in full. So avoid Virgin card.

oscar52

I am fairly sure the transaction fee etc gets added to the pruchase price, so if oyu have 0% for purchases, it should apply - be careful it is not one that is only for certain transactions however.

And if not done so already, set up a DD to make sure you dont miss a payment and lose to promo rate!

dazza.mk

oscar52 wrote: »

I am fairly sure the transaction fee etc gets added to the pruchase price, so if oyu have 0% for purchases, it should apply - be careful it is not one that is only for certain transactions however.

And if not done so already, set up a DD to make sure you dont miss a payment and lose to promo rate!

Agreed, you'll get a poorer Fx rate with Virgin, really depends on whether you need the cash for other purposes now (but will pay off by May), if so use Virgin, otherwise personally I'd take the small saving now and use Nationwide.

wife-spent-it-all

I'm actually taking $5000 in cash and travellers cheques so spending on the card is really for emergencies only, however I only want to take one card with me (less to possibly lose or get stolen etc) so I'm just trying to work out which one is best. I've just come to the end of the 0% introductory offer on the Virgin card so I've never actually used it - its been locked away in the safe for the last 16 months as Martin ordered!

I was actually leaning towards the Nationwide one anyway, so it's more a case of the Virgin card needing to be an unbeatable deal to change my mind. Sounds like its not likely to be that unbeatable deal so I think I'll stick with what I know and trust.

Thanks

td_007

wife-spent-it-all wrote: »

I'm going away to the USA in a few weeks and i was going to use my Nationwide credit card in preference to the VirginMoney one. However Virgin have offered a 0% on purchases deal until May 2010 so is this the better card to use or does the 0% not apply to overseas spending?

You will be better off using the Nationwide card as foreign transaction fees will apply to the Virgin card purchase even though your purchase will benefit from the 0% rate till May 2010. However, foreign fees - I think it is 2.99% for Virgin (please check) vs. 1% for Nationwide will negate any advantage of the 0% rate.

td_007

wife-spent-it-all wrote: »

I'm actually taking $5000 in cash and travellers cheques so spending on the card is really for emergencies only, however I only want to take one card with me (less to possibly lose or get stolen etc)

I guess taking so much cash/cheques is more of a risk than a credit card. Also, you will probably pay more in terms of relatively poor exchange rate/commission to get cash/cheques compared to using credit cards. Personally, I have used the Nationwide credit card as the primary spending vehicle and using cash only where required.

Also, take at least two cards, because CC companies now are becoming increasingly active in blocking cards that they "think" are used in an "unusual manner". Inform them before you go, but it is no guarantee that your card will not be blocked.

wife-spent-it-all

td_007 wrote: »

I guess taking so much cash/cheques is more of a risk than a credit card. Also, you will probably pay more in terms of relatively poor exchange rate/commission to get cash/cheques compared to using credit cards.

I already have the cash/cheques in dollars at a fairly decent rate of 1.655 a couple of weeks ago through TravelMoneyMax, and the rate does seem to have gone down slightly since then. I got the all of this commission free anyway and cheques in the USA can be used just like cash so I'm not going to take any further commission hits on them as I use them.

Calling the card company before going away is very good advice. I've always called Nationwide before going abroad and this has meant I've never had a problem in the past, but I can always phone them from the USA anyway if I do have trouble (I have a company mobile so it's a free call :rotfl:)