Balance Transfer Senario

Davef68

Looking to transfer CC balance to a new card, one bank (RBS) is offering a good rate, however I already have an RBS card with a balance I want to transfer, and RBS don't allow transfer between their cards

I also have a Virgin card. Virgin offer the ability to transfer a new balance to them for zero % for a time period.

So are there any flaws in this senario:

(I) Get the new RBS card and transfer the Virgin Balance to it
(ii) Transfer the existing RBS balance to the Virgin card
(iii) Then transfer the balance from Virgin to the new RBS card

OK, paying an extra balance transfer fee, but any other flaws I should look out for?

(Actually, if the new Balance Transfer to the Virgin card is the same time, it may just be as well transferring to to the that.)

JA1000

No point posting really, you've answered it, only need to do it once.

(Actually, if the new Balance Transfer to the Virgin card is the same time, it may just be as well transferring to to the that.)

CannyJock

Davef68 wrote: »

I also have a Virgin card. Virgin offer the ability to transfer a new balance to them for zero % for a time period.

http://uk.virginmoney.com/virgin/credit-cards-v3/popup/summary.jsp

The introductory rate for balance transfers, cheque transactions and money transfers only applies to transactions made within 60 days from the account opening date.

Davef68

CannyJock wrote: »

http://uk.virginmoney.com/virgin/credit-cards-v3/popup/summary.jsp

That's the introductory offer.

They occasionally offer existing customers a 0% transfer rate for additional transfers

CannyJock

Davef68 wrote: »

That's the introductory offer.

They occasionally offer existing customers a 0% transfer rate for additional transfers

They do, but they've been thin on the ground recently. If you have an offer confirmed then all good, but if you don't then would maybe think twice about depending on one appearing at the right time.

I've been chasing a repeat 0% on my Virgin card for 10 months since my last 0% ended. Spoke to a Virgin CS person this week who stated that I couldn't have a 0% deal "within 12 months" of my last one ending.