Virgin Credit Cards

ace800

Hi, I am looking at transferring my balances to a virgin credit card as this would be my cheapest option. However I have seen through u switch that they are planning to hike APR rates for some of their customers, could this affect an agreement after formally agreeing the rates for a balance transfer?
Thanks for any info in advance.

[Deleted User]

Any promo rates are unaffected by a rate increase. But the underlying rate that the balance moves to at the end of the period can be changed.

thenudeone

And you shouldn't normally mix spending and balance transfers on the same card, because you will always pay interest on purchases if you do, even if the purchases are paid in full by the due date.

Tixy

Deleted_User wrote: »

Any promo rates are unaffected by a rate increase. But the underlying rate that the balance moves to at the end of the period can be changed.

If they write to inform you that the standard balance transfer APR is being increased whilst you are still on your promo rate - then you still can choose to opt out, so that any balance still remaining at the end of the promo is then charged at the old, lower standard APR.
If you opt out it means you can no longer spend or balance transfer anything else to the card.