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Little Confused
hadrian_2
Posts: 10 Forumite
in Credit cards
Never had a credit card before and after talking to one of the well known banks was advised i could not do what i wanted.
Have an overdraft of say £2500 and thought i could get a credit card on one of those 0% interest for 12 to 15 months and transfer my £2500 overdraft to the card at 0% for 12 to 15 months. Didnt understand these deals are for transfering one credit card balance to another. Does anyone have any advise on best way to payoff my overdraft at the lowest interest rate. At present looking at a 2year loan on a monthly repayment of £126.66
Mant thanks
Have an overdraft of say £2500 and thought i could get a credit card on one of those 0% interest for 12 to 15 months and transfer my £2500 overdraft to the card at 0% for 12 to 15 months. Didnt understand these deals are for transfering one credit card balance to another. Does anyone have any advise on best way to payoff my overdraft at the lowest interest rate. At present looking at a 2year loan on a monthly repayment of £126.66
Mant thanks
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Comments
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How much intrest would you be paying on the loan? and how much intrest are you paying just now on the overdraft?Full Time Student
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OK found out Virgin do a balance transfer to my current account (should of looked on this website more closely) 0% interest for 16months and they can transfer £2500 to my current account and charge me 4% (£100) initial fee, leaving me a balance of £2600 on my credit card.
Can anyone offer any advise on this card as this seems to be what i am looking for0 -
The loan would cost me about £500 in interest for the 2year period. Paying just over £30 in interest per month on my overdraft at present0
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OK found out Virgin do a balance transfer to my current account (should of looked on this website more closely) 0% interest for 16months and they can transfer £2500 to my current account and charge me 4% (£100) initial fee, leaving me a balance of £2600 on my credit card.
Can anyone offer any advise on this card as this seems to be what i am looking for
People often mention how it is quite hard to get accepted with virgin, but they can only say no i suppose. Sorry couldnt help you any more.Full Time Student
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Will give virgin a try, just new to credit cards, thanks Marty210
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Marty21
Got accepted by Virgin, card is in the post, awaiting now for money to be paid into bank account
Thanks0
Good luck This discussion has been closed.
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