Best Balance Transfers Discussion Area

c0c0nuts

Can I ask please- if I wanted to clear my overdraft with the Virgin card-what do I put in the boxes where its says card type- do I tick 'other' or use my Visa debit card details?
Cheers

Gill_r_4

Just wanted to post to say how p***ed off I am with Barclaycard.
I applied online for BC Platinum card as I wanted to take up 0% BT. After 3 weeks they wrote to tell me my BC had been agreed in principle. They sought additional identity information which was sent by return. Another 7 days later I got an email to tell me that they had approved the card and it would be sent within 10 days. Received card, credit limit £260 - yes a measly two hundred and sixty pounds - which is not really much help. I don't know whether this is something to do with 1) my credit profile (it might very possibly have been affected by another recent check although normally it has an excellent rating) or 2) whether they have sussed they won't make any money off me as I pay off my cards unless I have a 0% deal going, or 3) they are in some kind of holding pattern on credit card applicants because of the financial crisis.
I rung them over a week ago and they said they'll look at it again, but I haven't heard anything yet. It looks as though I am going to have to see what deal I can strike on another card. So at the moment it looks as though I have wasted my time with BC.

poker_face

Gill_r wrote: »

Just wanted to post to say how p***ed off I am with Barclaycard.
I applied online for BC Platinum card as I wanted to take up 0% BT. After 3 weeks they wrote to tell me my BC had been agreed in principle. They sought additional identity information which was sent by return. Another 7 days later I got an email to tell me that they had approved the card and it would be sent within 10 days. Received card, credit limit £260 - yes a measly two hundred and sixty pounds - which is not really much help. I don't know whether this is something to do with 1) my credit profile (it might very possibly have been affected by another recent check although normally it has an excellent rating) or 2) whether they have sussed they won't make any money off me as I pay off my cards unless I have a 0% deal going, or 3) they are in some kind of holding pattern on credit card applicants because of the financial crisis.
I rung them over a week ago and they said they'll look at it again, but I haven't heard anything yet. It looks as though I am going to have to see what deal I can strike on another card. So at the moment it looks as though I have wasted my time with BC.

Unlucky, this seems to be happening more and more of late

Moggles_2

daveliz wrote: »

Currently our CC owings are just under 2000GBP and my debit card is at the end of the month £1800 in debt. My CC is nearing its end of zero interest, so I was thinking if we transferred the debit card debt into our current CC then, if we can afford it, that it may be an idea to set up a Virgin CC and transfer all the debt into it and try and clear the debt within the 16 months. What are your thoughts and suggestions?

Which credit card(s) do you have at the mo?

Moggles_2

c0c0nuts wrote: »

If I wanted to clear my overdraft with the Virgin card, what do I put in the boxes where its says card type? Do I tick 'other' or use my Visa debit card details?

IMO, it's best to keep your options open and leave the balance transfer section of your credit card application blank or, if asked over the phone, state you may be interested.

An horrendous story involving LTSB and Capital One was posted to this forum last year. Incompetence on this scale is fortunately rare but, for peace of mind and to avoid unwanted partial transfers, paying another card twice etc., it's better to wait until safe receipt of your card & credit limit. Then request your BT(s) by phone when you call to activate your new card. (Virgin provides a Freefone number for this.) That way you retain some control over what happens when

MrsChips

HELP Please!!

I've just checked my Virgin Credit Card statement and my Interest charge has gone up from 13.9% to 26.9% in the last month (OUCH!!!). This means that on a minimum monthly payment of £60 I'm only paying off 65p!! I generally top up my minimum payment with between £30-£50 each month but at this rate of interest I cant carry on like this as it's eating away at my debt, it's never going to be paid off.

I've just called Virgin to ask how they can justify such a big increase in 1 month and they said if i'd have called them when i was 1st notified (by post) then i would have been able to negotiate a better offer... but it's too late now! They even agreed that i was better of leaving them and transferring my money elsewhere before rudely putting the phone down on me (Huh! I'm Fuming!!)

So, what are my options? My Virgin Balance is £2869 / Credit Limit £3200. I have a bad credit rating from an old student debt which is now fully paid and satisfied but will still appear on my credit files.

Can I transfer a balance to a low intrest card?

Will anyone accept me?

Which are the best cards to try for those with bad credit?

Thanks in Advance from one VERY unhappy Virgin Customer

Briggsy.notts

Well I ended up ringing Virgin for them to tell me my application has been declined so not quite sure what I'm going to do now. I'm quietly panicing. Also just noticed that my HSBC apr rate has gone up from 16.9% to 18.9% but without me having anything in writing. Typical.

Moggles_2

MrsChips wrote: »

I've just checked my Virgin Credit Card statement and my interest charge has gone up from 13.9% to 26.9% in the last month (OUCH!!!). This means that on a minimum monthly payment of £60 I'm only paying off 65p!! I generally top up my minimum payment with between £30-£50 each month but at this rate of interest I can't carry on like this as it's eating away at my debt. It's never going to be paid off. So, what are my options? My Virgin balance is £2869 / credit limit £3200. I have a bad credit rating from an old student debt which is now fully paid and satisfied but will still appear on my credit files. Can I transfer a balance to a low interest card? Will anyone accept me?

Depends what you mean by bad credit. How recent was the student debt and have you built up a decent payment history with Virgin?

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide*, especially Martin's *Manage and Improve your credit score* article
http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

Moggles_2

Briggsy.notts wrote: »

Well, I ended up ringing Virgin for them to tell me my application has been declined, so not quite sure what I'm going to do now. Also, just noticed that my HSBC apr rate has gone up from 16.9% to 18.9%, but without me having anything in writing. Typical.

Have you checked your credit reports lately? This is the information UK lenders see when you apply for a new credit card. (For help, see the *How to obtain credit reports* sticky.)

Your posts have raised some other issues and you may get replies more quickly, if you post again on the *Debt-Free Wannabe board* You'll get lots of support there

MrsChips

Depends what you mean by bad credit. How recent was the student debt and have you built up a decent payment history with Virgin?

My Credit Rating "Needs Attention" rather than being overly Bad - I have no CCJ's or Bankruptcy etc. My Student debt was 4 years ago, it was an overdraft with the Halifax which was deffered to a Debt collection agency where I agreed to pay off a set amount each month. This has now been settled in full, but only within the last few months. For the past 4 years I've taken out no loans, I hardly ever use my Credit card & pay just over minimum payment each month. the only credit agreements I have are with catalogues which I always pay in full or on time.

I looked at Martins advice on Credit Cards for bad Credit and did the moneysupermarket search but the only ones that were offered were higjh interest accounts.

I was thinking of starting to save with a Credit union to get a loan to pay it off in full... Do you think this would be wise?