Balance Transfer To Account

warburtonrichard

If Egg are refunding a credit balance they shouldn't charge you a balance transfer fee, you're not doing a balance transfer.
When it comes to June, if you have a balance transfer available from Egg at a low %, then you transfer your Virgin CC balance to Egg to stop yourself going onto purchase itnerest rate. Just make sure you clear the payment with the Virgin MBNA card before your 0% expires.
MBNA are there to make money, so they probably will pretty sharpish give you a balance transfer offer, but hang on until you're close to your egg one expiring before you do it, then you can just flip-flop between the two cards until your payments are gone.
Oh, and don't forget, if you can afford your minimum payment today + £1.00 (or more), why not set up a standing order or fixed DD to pay that amount instead of doing minimum payments - that way your balance will go down faster.
When your BF's 0% expires, you can transfer it back to one of your cards too at a low rate.
Does BF plan to spend on the new card too?

MustStopSpending

He won't be using it, if he does I guess he'll have to pay the interest but I'll tell him he's not allowed to, I'll confiscate the card just in case I think!

warburtonrichard

Yes, good plan. Don't spend on it, as I'm sure you realise any purchases will get "trapped behind" the balance transfer, so payments you make will go against your 0% debt, not against your purchase rate debt (eg 15.9%). If he does do credit card spending and has a different card and limit on this new card available, he could make space on his other card instead.
but lets not get complicated!
Debt bad! Cards in cupboard!
(p.s. on the credit card articles on this site there is a link to the "tart alert" reminder text service to remind you when your balance transfers are about to expire)