CC Balance Transfer, how long should it take?

DS2022

Good morning, all,

I took out a credit card yesterday (Capital One), to make a balance transfer from my Virgin Money Card ~ £1900 

When I signed up, Capital One asked for the details of the transfer and the website said it would be done immediately

It's not been paid yet and I have a £60 payment to make on my Virgin card by 10/04/22 which I'm holding off from at the moment 

Does anyone know how long these transfers typically take please, I'm hoping it will be complete before the 10th, as I've transferred the whole balance. Not sure what would happen with the £60 if I pay this?

Many thanks,
DS

[Deleted User]

It's usually 2-3 working days I find, I would suggest making the payment just in case (given 10th is a Sunday) as worst case you go a small amount in credit and get it refunded

martinbainbridge1975

as above 2- 3 working days 

DS2022

DS2022 said:

Good morning, all,

I took out a credit card yesterday (Capital One), to make a balance transfer from my Virgin Money Card ~ £1900 

When I signed up, Capital One asked for the details of the transfer and the website said it would be done immediately

It's not been paid yet and I have a £60 payment to make on my Virgin card by 10/04/22 which I'm holding off from at the moment 

Does anyone know how long these transfers typically take please, I'm hoping it will be complete before the 10th, as I've transferred the whole balance. Not sure what would happen with the £60 if I pay this?

Many thanks,
DS

Ok, so it took a lot longer than 2-3 days to clear, so good job I paid the £60 payment to Virgin.

I was then £60 in credit with Virgin in the app, so all good I thought. I rang up today to ask Virgin to transfer the £60 to my account and they've charged me £25 interest, wo was only £35 in credit, which I'm not sure is correct, as they saw that I'd made the £1900 payment from Captial One 13/04/22, so no idea what the interest is for...
      - I queried this with them and he said 'what I can do as a good will gesture is to 'waive' xyz (not sure what he said) so you don't get charged again next month. Why would they be charging me anything next month, I paid it all off 13/04/22?

Puzzling to say the least

eskbanker

If you carried a balance past your Virgin payment date (from 10th to 13th) then interest will be chargeable?

MalMonroe

With your payment to Virgin, a similar thing happened to me - I cleared the balance on my Virgin CC but then they took an extra payment, leaving me £25 in credit. When I logged on to my account and queried it via the app they said that I had to jump through various hoops to avoid paying interest. I thought, "what a blimmin cheek!" - but went through the process anyway. (I can't remember it now but it wasn't difficult). 

On their website it says "We will usually refund credit balances to the bank account you have nominated on your credit card account. However, if you do not have a bank account set up please call us for a refund on 0800 011 3210. We are here 24 hours a day, 7 days a week."

But I didn't find that to be the case, I had to chase them.

If you now freeze your card but leave your DD open, they won't attempt to take any more payments until you have a balance on it. Unless you plan on closing it altogether, that is. I've learned that Virgin need lots of notice before any changes are made, no matter when payments are due.