Virgin credit card

summer1979

I have a Virgin credit card and owe around £3000 on it. I am paying around £50 per month interest on it and want to know where I can transfer the balance to?? I have no clue, please help? I have an excellent credit rating, if that helps? I want a balance transfer for the longest period of time with 0%. I have promised myself I will not pay anymore interest and will sort it for the new year. Many thanks

Tixy

Summer this list may help you - http://www.stoozing.com/0fees.php

but depending on how long you have had the card you find it hard to get another card with the same limit - all lenders have tightened their lending criteria and will now look much more carefully at your level of debts/avaiable credit/ ability to repay etc.
As a tip if one provider turns you down don't keep applying for lots of different cards as each search will appear on your credit file and can in themselves affect your rating. Sometimes your own bank will be more likely to lend to you than one who know nothing about you.

summer1979

Does it sound like the current Santander deal would be a possibility of a transfer of £3000???

Apricot

The credit limit you are given depends on how much you earn, how much available credit you have and how much money you owe out so nobody here will be able to tell you what limit the companies wil give you. FYI, I earn £16500 and have a decent credit rating - I usually get limits of £3,500 ish on cards.

Most credit card companies will allow you to do a BT of up to 95% of your limit. Therefore even if you cannot transfer the entire amount, transferring as much as you are able to & then paying off the Virgin CC as soon as possible will leave you in a better position than you are in now.

winter09

Hi I'm new to thie so forgive if this is covered else where - What is available credit? I have had my BOS credit card limit increased (without request) by £2000 over the last few months - do they search my file before increasing - does this mean I have good credit history (thinking of asking for additional borrowing on my mortgage for home improvements)

NickX

winter09 wrote: »

What is available credit?

Available Credit = Total of all Credit Limits - Total of all Current Balances

winter09 wrote: »

I have had my BOS credit card limit increased (without request) by £2000 over the last few months - do they search my file before increasing

They have an ongoing feed of data from the Credit Reference Agencies which they assess.

winter09 wrote: »

does this mean I have good credit history

It suggests your rating is pretty good. Well Done :beer:

winter09

NickX - thanks I appreciate the reply