Balance Transfer - Virgin Credit Card - HELP!

lukedodd2001

Hi,

Ok so I have recently got a Virgin Credit Card to pay off my existing HSBC Mastercard. It has O% on balance transfers until December 2011 it says and I have paid off £3,600. It also has O% on purchases for three months.

Here is my conundrum. I used my Virgin Credit Card to buy £100 worth of currency at the Post Office the other day to go to Turkey with. This was done by accident.

My question is, will I end up paying a huge amount of interest? As this will have ruined the whole point of doing my bank transfer!

Thanks

Tixy

I think you will probably be alright based on this story
MBNA cards

thats assuming that cash advances are included in this new allocation system.

lukedodd2001

oh wow, that sounds like very good news....I don't think that would have been a cash advance would it, as i literally bought the currency using my card, i didn't withdraw it from a cash point?

Thanks

Tixy

I think they usually treat a currency purchase as a cash advance not a purchase (otherwise people would do this and then transfer the currency back to sterling as it would be a cheaper way of getting cash from a card than a cash withdrawal at a machine).

YorkshireBoy

lukedodd2001 wrote: »

I don't think that would have been a cash advance would it, as i literally bought the currency using my card, i didn't withdraw it from a cash point?

Now might be a good time to read your T&Cs, specifically "definitions".

lukedodd2001

just thought I would update....have been in contact with Virgin...lucky for me that the cash advance amount will be paid off first with any payments, so any interest will have been kept to a minimum...hurrah!