CC eligibility check - so pleased

jellitot

Just did the eligibility check and it said I'd got a good chance of a Virgin money card so I applied and got it. Gives me a balance transfer of nearly 7K for about £200 for 40 months. I was going to pay it off in May but I'll leave the money in my 123 account for 40 months and get 3% interest on it - £700 tax free. MSE just made me £500 for 5 minutes work. Thanks very much.

jonesMUFCforever

Do the figures add up though? £7000 that you transfer to Santander at 3% will give you £210 for first year - breakeven (not taking into account the minimum repayment).
You may well have more funds with Santander to make it up to £20k but you can't count that free money.

nb0825

You would be better off transferring to a 0% BT card with 0% fee for 23 months @ Halifax and applying for a new card after the introductory rate. Versus the Virgin 40 month card, you're essentially paying £200 for an extra 17 months 0%

darkidoe

Why not just pay off the debt?

Superscrooge

jellitot wrote: »

Just did the eligibility check and it said I'd got a good chance of a Virgin money card so I applied and got it. Gives me a balance transfer of nearly 7K for about £200 for 40 months. I was going to pay it off in May but I'll leave the money in my 123 account for 40 months and get 3% interest on it - £700 tax free. MSE just made me £500 for 5 minutes work. Thanks very much.

Well Done!
But don't forget Santander also have a regular saver at 5% So you could increase your interest even more!

jellitot

darkidoe wrote: »

Why not just pay off the debt?

I was going to pay it off in May but I'll leave the money in my 123 account for 40 months and get 3% interest on it - £700 tax free.