Virgin - Changes to standard interest rates

Debs0778

Hi All

I've received a letter from Virgin advising they are changing their standard interest rate and that I can opt out of this but if I do I cant use the card.

I'm a bit baffled by the whole CC thing and interest so question is...........I have a card with a 0% balance with Tesco who have offered me a life of balance transfer of 7.9% would this be a better option?

Virgin rate is 24.9% variable

Thanks in advance

[Deleted User]

If you don't think you can pay off your debts in the near future, then a life of balance offer is an excellent idea.

Debs0778

Having read the thread on rate jacking I think Im a bit more clued up on this.

So my account is being rate jacked. Should I opt out and simply pay the card as before (was a 0% card which I also spent on - oops) or try Tesco LOB and transfer the balance there

Any help is appreciated!!!!

[Deleted User]

Whichever is the lowest rate.