No special balance transfer rate - what next?

zaksmum73

I am trying to do the credit card shuffle.
I have a V1irgin card account that had a limit of £25k on it, and a balance of £15k - I have just cleared all of that and have a balance of £0 :j

I have a total of £11k debt on other cards and was hoping V1irgin would offer me a special offer APR on a balance transfer. But I just rang and they said they dont have any special promotions for me. I said I'd take the transfer elsewhere and they said 'ok!' I would have thought they'd rather my debt was with them, rather than elsewhere especially given that I've never defaulted with them

None of my other credit cards have much spare capacity on them - what do I do next please?
All of my debts are on cards of 25 - 30% APR so I really want to move around if possible
Any help would be appreciated

Little_Miss_Uni-Debt

Sometimes it takes a few months of it being at zero for them to be convinced you won't be spending on it again.

That's when they crack out the special offers. It may be worth waiting a while.

Have you done any sums on how much interest your other cards are costing you each month compared to the rate Virgin is currently at?

Don't forget to take into account the transfer fee

Oh and very well done on clearing the 15k! Amazing work!

Tixy

How recently did you clear the virgin card?
Often they will give you a deal once you've had 1 or 2 nil balance statements.

But they may have decided you don't fit their profile or it maybe that because bank of amercia has just announced they are selling MBNA these repeat offers will dry up for everyone.

What is the standard BT APR on virgin? If you have some debts at 30% then it might well still be worth moving if MBNA is a lot cheaper.

zaksmum73

I only cleared the debt last week, but was keen to try to resolve this quickly while I had momentum on my money saving / debt busting. I'll wait a few months and see what they offer me, the lady did say they periodically review all accounts and will then write out with any offers - annoyingly I missed a 0.9% which ended in July grrrr
The APR on V1irgin is 29.6% so one of the worst from all of my cards