Virgin Money CC - money transfer/SBT

YorkshireBoy

sujman wrote: »

What do others think?

Sounds like a lot of work, and hassle, to make/save twenty quid over a year.

sujman

YorkshireBoy wrote: »

Sounds like a lot of work, and hassle, to make/save twenty quid over a year.

Very true but in my case, I have just over £6,000 of virgin credit limit available to do this and potentially, £500 daily withdrawal limit with the halifax clarity card (no word on application yet) so the number of trips to withdraw and re-bank the cash reduces

Becuase I plan to offset against a mortgage interest rate of 3.75%, I reckon its worth about £160 (net, after fees and interest charges) to me over the next 14 months.

Stilll may sound like a lot of work but there is no additional cost to me. Cost of online transfer is just my time and going to the bank is marginal, as its on my way home.

If there happens to be another deal like Virgin low BT fee that comes out again, then I could repeat the exercise and hopefully the total savings start to rack up.

There was another thread talking about how the returns these days are nothing like before (0% fee BT and 7% savings interest rates etc) but I missed that boat so for me, the few percentage points I can get now can add up over time.