Negotiating the Virgin balance transfer fee?

finance-boy

Hi,

I remember reading on here before that it's possible to negotiate the Virgin balance transfer fee. Can anybody confirm that this is true?

I ask because they're currently offering me 0% on transfers to a current account (4% fee) until December (existing customer deal). So that's about 7 months.

Now I know that 7 months isn't a very long time (they introduced me to the offer a couple of months ago but I've been sitting on my hands:() I'm not really hoping to make any money on this "stooze" but rather create a little nest egg that I can use in future investments. But I don't want to lose money on it either.

So assuming I can get a savings rate of 4% (or 5% on balances up to £2500 with the Santander current account), then I'll need to get the balance transfer fee down to about 2% - is this do-able? Does anyone have any tips on what to say, etc?

CannyJock

Good luck - my BT deals are currently restricted to a 5% fee (possibly stoozer spotting at their side ) - and their CS people insist they have no flexibility to change the fee.

Your only options are to wait for a better one-time offer, or to apply for another MBNA card, take it, transfer your Virgin limit over to it, then take them up on the offer