Crafty credit cards?

marco71

Hi to everyone, new to forum. Have a dilemma and would appreciate any advice.

need to borrow £1000, what would be the best and cheapest way to do this?

Been tempted by the credit card i already own--Virgin, they have told me there is a promotion on till 31/10/10 where they can do a money transfer to my current account at 0% until Sept 2011

sounds good but as my experience in this world with credit cards indicates that they are sneaky and crafty sods at the best of times!!! so i already have approx £220 of debt on this card, does that have any impact on the £1000 if i choose to do a money transfer? Do they do some mathematical equation on the interest that i cant work out which means i get screwed?!!

thanks, any advice on what will happen and what i should do would be gratly appreciated

dfh

Virgin also imposes a 4% fee for money transfers.If you can pay it off before Sept 2011 go for it. If not, have a look at another offer from Virgin. 6.9% for life untill the balance is repaid.

[Deleted User]

marco71 wrote: »

Hi to everyone, new to forum. Have a dilemma and would appreciate any advice.

need to borrow £1000, what would be the best and cheapest way to do this?

Been tempted by the credit card i already own--Virgin, they have told me there is a promotion on till 31/10/10 where they can do a money transfer to my current account at 0% until Sept 2011

sounds good but as my experience in this world with credit cards indicates that they are sneaky and crafty sods at the best of times!!! so i already have approx £220 of debt on this card, does that have any impact on the £1000 if i choose to do a money transfer? Do they do some mathematical equation on the interest that i cant work out which means i get screwed?!!

thanks, any advice on what will happen and what i should do would be gratly appreciated

the 2 balances would show as seperate equations on the statement
i.e £1000 at 0% and £220 at whatever %