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Virgin - Changes to standard interest rates

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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

Comments

  • 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
    Debs0778 Posts: 185 Forumite
    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!!!!
  • Whichever is the lowest rate.
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