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MSE News: Virgin Money launches 0% all-rounder credit card

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This is the discussion thread for the following MSE News Story:
"The lender is offering no interest on balance transfers and purchases for a year via a price comparison site as part of a trial..."
"The lender is offering no interest on balance transfers and purchases for a year via a price comparison site as part of a trial..."
Read the full story:
Virgin Money launches 0% all-rounder credit card
Virgin Money launches 0% all-rounder credit card
Update: 17 March. But tomororw, it will make it permanent
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Or maybe it allows easier payment of planned expensive purchases. Might be quite enticing to some.
Can see what you're saying but that's potentially true of any credit. I've got no doubt that MBNA are hoping it will
To use it sensibly, you'd transfer your balance onto the card and then use it for your normal purchases until it's maxed out. You pay back the minimum during the 0% promotion period, and put every penny you would normally have spent on it into a higher interest savings account. Before your 0% period ends you take your savings and the accumulated interest and use it to pay the balance in full (or as much as you can).
With the low 1% minimum payment you've got an ideal chance to build your savings up to pay as much off your debt as possible.
If you were only going to use it just to transfer your debt then surely you'd use the 16 month BT card from Virgin, not one that lasts 12 months.
I personally think this is aimed at people who have debt already, and are likely to add a lot more onto the card. Some people in debt don't have the willpower to say no to 0% credit. They're likely to be the ones who fall victim to this.
Like you say though, that's what MBNA wants.
That is probably about the same claim as saying that BOGOF offers encourage people to get fat...
And how about people who need BT and protection on their purchases or one off larger purchase but don't want to apply for 2 different cards in short period of time?
So the rest of society shouldn't have the option either...??
I'm now slightly concerned as the article suggests this isn't the case - though every advisor I have ever spoken to has been very clear about it.
And I admit I'm in a rather cynical mood today