Balance transfer?

Lilith1980

Hi all,

This might be a daft question but I wanted to ask

I have a Virgin credit card. Currently about 75% of the balance is on a 0% interest rate, and the remainder (£1,200) is getting charged interest each month as that amount came from purchases.

If I wanted to transfer from this card onto another card that offered a 0% balance transfer, would Virgin transfer the interest bearing amount or would the transfer be a proportion of the 0% part and the interest-bearing amount?

Thanks

StuC75

As a transfer in would be treated as a payment, then according to the statements those balances carrying the highest interest rate regardless of the transaction date would be paid first..

Just make sure any card you go for is not part of mbna since they dont allow within group transfers...

YorkshireBoy

The money that comes in from the other card provider will be allocated to that part of the balance that attracts the highest interest rate charge.

Lilith1980

Thanks both