Question on Virgin CC

rail.link

Hello,

The card offers 0% for 15 months on balance transfers and credit card cheques.

This site advocates using the Egg money card for stoozing deals.
Would using a credit card cheque payable to yourself and banked into your current account also achieve the same result in this instance ?

Thanks.

YorkshireBoy

Virgin will allow overdrafts (real or otherwise ) to be transferred to the card at 0%, meaning cheques, and Egg Money, are not necessary.

rail.link

YorkshireBoy wrote: »

Virgin will allow overdrafts (real or otherwise ) to be transferred to the card at 0%, meaning cheques, and Egg Money, are not necessary.

OK, they seem to have a facility for doing this online. You enter your bank details and they do the rest.

Is this what you mean ?

Thanks.

YorkshireBoy

Online or telephone - the choice is yours.

Of the two, I'd suggest the telephone so you can verify that the transaction will go through at 0%, and not at their 'money transfer' rate.

rail.link

Thanks so much !

Just got off the phone with them and it's all sorted.
Money will be in account in a week's time.

Cheers, YorkshireBoy !

QwertyCat

YorkshireBoy wrote: »

Virgin will allow overdrafts (real or otherwise )

Wow, I didn't know that. I was just about to close my account with them. So with a credit limit of £7,000, I can use 95% of it as a easy loan with 2.25% handling fee?

YorkshireBoy

QwertyCat wrote: »

So with a credit limit of £7,000, I can use 95% of it as a easy loan with 2.25% handling fee?

That would be a pretty expensive "easy loan" at 15.9% APR (typical) wouldn't it?

Also, you might want to check your BT fee because most existing Virgin cardholders now have a 3% fee.

QwertyCat

YorkshireBoy wrote: »

That would be a pretty expensive "easy loan" at 15.9% APR (typical) wouldn't it?

Also, you might want to check your BT fee because most existing Virgin cardholders now have a 3% fee.

It says 0% until August 2008 for balance transfers in my home page when I log in.

YorkshireBoy

QwertyCat wrote: »

It says 0% until August 2008 for balance transfers in my home page when I log in.

Sorry, you threw me in post #6 when you said "I was just about to close my account with them". I therefore assumed it was an old account on standard rates.

QwertyCat

YorkshireBoy wrote: »

Sorry, you threw me in post #6 when you said "I was just about to close my account with them". I therefore assumed it was an old account on standard rates.

Ah sorry, I've only had the card for a little while, haven't used it much so thought I should cancel it.

oscar52

A warning also - although it says 3% fee and most (if not all) of these are now UNCAPPED - so a £7000 would cost you £210!!

(And this is true ......... I work there:o )