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New 0% deal with Virgin?
MoonJelly
Posts: 330 Forumite
in Credit cards
Hi All,
In a bid to clear out our debts we recently got a Barclays card 0% balance transfer for 36 months. We transfered to it what we could with the credit limit they granted.
However we still have about 40% of our debt in regular credit cards paying about 14.5%.
Today I got an email from 'Hannat at money' with this bit of news: (I hope it is allowed to copy and paste)
Longest EVER 0% Balance Transfer Credit Card
NEW: 0% for 40 months on balance transfers and money transfers with Virgin Money Credit Card. This market leading card offers the longest ever 0% balance transfer period. The key benefits of the card are:
Plus you'll also get discounts on Virgin Group products including Virgin Holidays, Virgin Trains and Virgin Cruises. This card is available until 9th September 2015, and the 0% offer only applies to transfers made in the first 60 days.
My questions is this: Has anyone here heard of this deal with Virgin CC, and would it be a good idea to apply and then transfer our outstanding debt to it to further hasten our debt repayment?
....Or would applying for another card so soon affect our credit in a bad way?
98
In a bid to clear out our debts we recently got a Barclays card 0% balance transfer for 36 months. We transfered to it what we could with the credit limit they granted.
However we still have about 40% of our debt in regular credit cards paying about 14.5%.
Today I got an email from 'Hannat at money' with this bit of news: (I hope it is allowed to copy and paste)
Longest EVER 0% Balance Transfer Credit Card
NEW: 0% for 40 months on balance transfers and money transfers with Virgin Money Credit Card. This market leading card offers the longest ever 0% balance transfer period. The key benefits of the card are:
- 40 months 0% on balance transfers (2.99% fee)
- 40 months 0% on money transfers (4% fee)
- 0% on new purchases for 3 months
Plus you'll also get discounts on Virgin Group products including Virgin Holidays, Virgin Trains and Virgin Cruises. This card is available until 9th September 2015, and the 0% offer only applies to transfers made in the first 60 days.
My questions is this: Has anyone here heard of this deal with Virgin CC, and would it be a good idea to apply and then transfer our outstanding debt to it to further hasten our debt repayment?
....Or would applying for another card so soon affect our credit in a bad way?
98
..............................................................................
NW: [STRIKE]£5014.49[/STRIKE]/£4000/£745
BC: £4308/£2500
Loan: Co-op: [STRIKE]£3777.23[/STRIKE] /
[STRIKE]£3387.23[/STRIKE]£2900/PAID
Challenge: debt-free by Christmas 2017
NW: [STRIKE]£5014.49[/STRIKE]/£4000/£745
BC: £4308/£2500
Loan: Co-op: [STRIKE]£3777.23[/STRIKE] /
[STRIKE]£3387.23[/STRIKE]£2900/PAID
Challenge: debt-free by Christmas 2017
0
Comments
-
It's a good deal. But whether you will be accepted depends on your circumstances.
It will leave an additional search on your files, no more than that.0
This discussion has been closed.
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