Balance transfer Help regarding offer on existing CC

manic

I have 12K balance on my virgin (MBNA) card that is coming to the end of an interest free period, they have just offered me a 12 months 0% on BTs with a 2.98% fee. Is there any way I can transfer this balance out then back in without incurring any extra charges. I have enough credit limit on other cards to accommodate the £12K (Egg Money, NatWest, Post Office).

Jimmbron

You can call them and ask what BT rate they would give for any new money you transfer in. Or you could call and threaten to BT-out unless they provide a better rate. Card companies usually have sales teams who are incentivised to attract and retain money with existing customers, and they'll sometimes be able to negotiate

manic

I have just had my first setback.
Phoned NatWest, who offered me a 0% BT for 9 months with a 4% fee, asked if they could do anything on the term or fee. Immediate response was, NO can't change anything of the offer, it is what it is. So I said I will cancel the card, still no attempt to improve the offer, but persuaded me that even with a 4% fee, it would be cheaper than the interest I would pay on that kind of balance. I will keep hold of it for the moment.

Do you think that as there is a new offer on the table before the old deal is up, Virgin will extend the old deal?