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Balance Transfer
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ZiggyStardust21
Posts: 4 Newbie

in Credit cards
Hi all!
New here and seeking some advice, please.
I had a credit card with Virgin Money, but I am paying way too much on the credit I've used. I'm looking to do a balance transfer and not sure where to start.
On my credit card, I have £5,000 used, I earn around £60k and I am looking to just clear my credit card with Virgin Money, which I pay £172/month into towards my balance. A few mins ago, I completed an eligibility and the cards I am eligible for is the All in One Credit Card from Santander at £3 month, but they will only allow me £4,600.
Is it worth getting this card?
Excuse the stupid post, but I'm a little headless with balance transfers and just trying to get my life in order.
Thanks!
New here and seeking some advice, please.

I had a credit card with Virgin Money, but I am paying way too much on the credit I've used. I'm looking to do a balance transfer and not sure where to start.
On my credit card, I have £5,000 used, I earn around £60k and I am looking to just clear my credit card with Virgin Money, which I pay £172/month into towards my balance. A few mins ago, I completed an eligibility and the cards I am eligible for is the All in One Credit Card from Santander at £3 month, but they will only allow me £4,600.
Is it worth getting this card?
Excuse the stupid post, but I'm a little headless with balance transfers and just trying to get my life in order.
Thanks!
0
Comments
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So you could transfer £4370 and would be paying £3 per month; that presumably represents a significant saving on interest. You could then prioritise clearing the remaining virgin balance. With your balance £3 per month may be a good deal, though as the balance decreases it becomes less appealing. The only question can you do better? Natwest group, HSBC, Sainsbury's and Barclay card (and perhaps some others) all offer no fee 0% BT cards.1
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Also check eligibility direct with the provider if you can, nothing wrong with using a comparison site as a starting point but their eligibility ratings can be way off.1
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daivid said:Also check eligibility direct with the provider if you can, nothing wrong with using a comparison site as a starting point but their eligibility ratings can be way off.
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ZiggyStardust21 said:daivid said:Also check eligibility direct with the provider if you can, nothing wrong with using a comparison site as a starting point but their eligibility ratings can be way off.
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daivid said:ZiggyStardust21 said:daivid said:Also check eligibility direct with the provider if you can, nothing wrong with using a comparison site as a starting point but their eligibility ratings can be way off.0
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daivid said:ZiggyStardust21 said:daivid said:Also check eligibility direct with the provider if you can, nothing wrong with using a comparison site as a starting point but their eligibility ratings can be way off.0
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Not all cards show in comparison sites. I find using the MSE main site and the MSE credit club gives a better idea of what is out there (I do find it odd they are both by MSE but return cards the other doesn't…). If Ulster are saying you will get it then I'd go for it, Ulster seem to be pretty quick - I had my card from them in just under a week. If you get the Ulster card, and its limit is sufficient, cancel the Santander so you don’t pay £3 a month for nothing - I would wait until I actually had the Ulster card and the balance transfer had been approved. For Ulster BT must be made by phone (maybe different if you request it during the application) but the wait times and call durations were fine for me.1
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