Virgin Balance Transfer - Confirmation Required

ICHAPMAN

Hi,

Can someone confirm my thinking please.

I have a Virgin CC with an existing balance at regular % rates. The card is not at it's limit and they are offering a 0% deal for new BTs to the card.

Having looked at the numbers it would be in my interest to switch two card balances around. Both cards are running at standard rates, but both are offering a BT deal. The other card is offering a 6.9% for life of balance option

I'm thinking about BT the balance of my other card to the Virgin card. This would increase the balance of the Virgin card, and part of it would be at 0% and the other at standard rates.

Once the BT was complete, I would then look to BT the original balance from the Virgin card (the part of the standard rate) to the other card where it would gain the 6.9% rate.

If I understand correctly Virgin would take the incoming sum (being paid by the other CC as part of the BT) and applied it to the most expensive part of the balance - the original balance with the standard rate.

Is this thinking correct?.

Thanks

mustmakealist

It usually is these days. If you have a recent statement handy, have a look at that and see what it says under the heading of allocation of payments. It should work and if you are going to do tha balance transfer over the phone rather than online you can always ask.