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Balance transfer card closure
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monkeyr
Posts: 2 Newbie
in Credit cards
Hi,
A few weeks ago, I made a silly mistake.
I have had a 0% interest card with virgin for 1 year... I thought I had had it nearly 2 years (nearing the end of my 0% interest promotion), and so was looking for a new 0% account to transfer the remaining balance to.
I opened up a balance transfer account with Halifax about 1 month ago. Today, I went to finally sort it out and transfer the balance to it, to find out that I still have 1 years 0% interest left on the virgin card.
I have had the new Halifax account for more than 14 days, so I can't cancel it anymore. Should I call and close it? Will this affect my credit rating? Should I keep it open?
Also, I have no idea about forums, so I apologise if this is in the wrong place!
Any advice would be appreciated, thanks!
A few weeks ago, I made a silly mistake.
I have had a 0% interest card with virgin for 1 year... I thought I had had it nearly 2 years (nearing the end of my 0% interest promotion), and so was looking for a new 0% account to transfer the remaining balance to.
I opened up a balance transfer account with Halifax about 1 month ago. Today, I went to finally sort it out and transfer the balance to it, to find out that I still have 1 years 0% interest left on the virgin card.
I have had the new Halifax account for more than 14 days, so I can't cancel it anymore. Should I call and close it? Will this affect my credit rating? Should I keep it open?
Also, I have no idea about forums, so I apologise if this is in the wrong place!
Any advice would be appreciated, thanks!
0
Comments
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Keep it open.
Does it have a good limit?
What is the period of the balance transfer promo?0 -
The limit is £6500 - 0% on balance transfers for 29 months if made within 90 days from the account opening.0
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If it were me, I would go ahead with the transfer anyhow. It would lengthen the 0% promotional window that you would be managing your cards within (an extra 17 months)
Edit: And welcome to the forum monkey
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
0 -
Agree with the above - transfer it anyway.0
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