Virgin SBT advice please

dcurzon

Hi, first time on the boards.

I currently have an egg cc with a small outstanding balance, and a small outstanding loan also with egg. works out about £1000

i have just applied to Virgin for a cc (0%) last week, i understand they take theyre time setting them up.

i plan to SBT from virgin into my current account as much as they will let me, then clear loan/egg cc and put the remainder into isa/savings. i have online savings accounts with egg and cahoot, and A+L mini cash isa.

How do i actually do the SBT from virgin into my current account? Do i use the credit card cheques that they send when they have finally processed the account? or do i need to call them and ask for it to be transferred?

thanks in advance,
darren

EKokay

Hi Darren,
I applied with them last year as I was wanting a SBT.
However the 2% charge was niggling me. I received
their bumff and sat on it while I considered. I then
got a call from them asking what the problem was
and when I explained it was the 2% the bloke said if
I done the transfer there and then he would waiver the
fee. I just gave him the details of my current account
and it was transferred into that for me to do what i
willed with it. It is feeding the Halifax Regular Saver at
7% from an ordinary savings account at 5%.
The other thing about them is that they only want £5.00
per month payment. I am doing that but will clear the
balance when the interest is due to be added.
Hope this helps.
EKokay

b44rch

Yep, if you phone them up they normally waive the fee, I did that a couple of months after I opened my account with them, online they wanted a 2% fee, but when I phoned up I was told they were gonna waive it...

dcurzon

cool, sounds easy.

i have just called egg to check when my 'anniversay' is, and apparently, its in october, so if virgin gets me up and running in the next 2 weeks, then my egg anniversary will be due in the 8th month of vigin's 0% 9 month deal, whhich i guess is an ideal time to xfer again

whilst i was on the phone to egg, i asked them to raise my C/L to 9k, which they did there and then.

would it be an idea to bank the 9k from egg then transfer the 9k from egg card to virgin? or stick with waiting for virgin and do the transfer into account from the virgin card, leaving my egg card ready for anniversary 0%?

thanks

sleepless_saver

I've just got a Virgin card and there was no charge for a phone transfer (11K!) to my current account.

But today I got the credit card cheques from them - 2% charge, so they went straight into the shredder!

colinw

So if you SBT online they charge you the 2%. I thought I read on other threads that Virgin was free throughout the 9 months intro period. I also thought they had a £35 max fee.

oscarhugo

.........?

Reaper

Yes Virgin (unlike other MBNA cards) give free transfers throughout the 9 months 0% period. After that they charge. It does not matter whether you do in in writing, online or by phone.

However, many call centre staff do not know the Virgin rules and wrongly claim you have to pay a fee. Get them to ask somebody else or phone back and hope you get somebody more knowledable next time if you have problems when you call.