Balance Transfer Application

manphibian

Hi,

I would like to apply for Virgin's balance transfer offer in order to buy some furniture for when I move into my first unfurnished flat in 5 or 6 weeks time. I would like to get accepted for the balance transfer card before buying the goods, and then transfer the balance at a later date, within the 60 day period. My problem is this:

During the application process Virgin ask me ('yes' or 'no') whether I am interested in a balance transfer. If I answer the question 'yes', then it brings up a screen asking for the details of the card I would like to transfer. Does this mean Virgin will immediatetly transfer the balance of that credit card, currently just £15, over? Thus ruling out the possibility of me buying the goods in the meantime. Or will they wait for my to authorise the transfer to go ahead at a later date? If I answer 'no', does that rule me out of the option of doing a balance transfer completely?

Thanks for reading.

CannyJock

manphibian wrote: »

Does this mean Virgin will immediatetly transfer the balance of that credit card, currently just £15, over? Thus ruling out the possibility of me buying the goods in the meantime. Or will they wait for my to authorise the transfer to go ahead at a later date? If I answer 'no', does that rule me out of the option of doing a balance transfer completely?

Thanks for reading.

Yes - they will transfer whatever amount you request provided it is less than 95% of your credit limit. You tell them the amount. If you want more than £15, then tell them the number you want.

If you don't put it on the form, you can still request it when you call to activate the card. If you read the summary box http://uk.virginmoney.com/virgin/credit-cards-v3/popup/summary.jsp you'll see you've got 60 days from the account opening date to request your BT.