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Purchase intrest and balance transfer
Tony94
Posts: 3 Newbie
in Credit cards
I have a credit card with Virgin which is currently 21.66% intrest on purchases. I am soon going to be doing a big purchase of around £1000.
If I purchased the item on this credit card and immediately transferred to a 0% balance transfer card with another lender, would the amount be £1000 or £1000 PLUS Virgins 21.66% purchase fee?
The purchase is being made Tuesday otherwise I would of taken out a 0% purchase credit card.
Thanks
The purchase is being made Tuesday otherwise I would of taken out a 0% purchase credit card.
Thanks
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Comments
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It'll be the £1000, plus any interest incurred on Virgin (depending on timing and whether you're currently revolving a balance), plus any BT fee.
There is no purchase fee on the Virgin card.0 -
21.66% APR is the interest you pay on the card if you don't clear if in full every month, it's not a fee. Make sure you wait until the payment is cleared and on the card to do the BT but pay before the statement is generated
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