balance transfer fee

grad2224

I have around about £800 to pay on my Lloyds TSB credit card if i apply for a 0% card such as virgin will the only fee be the 2.98% transfer or are there hidden costs i am really confused. I am a single mum and really need this debt cleared i am cutting down as much as possible please can someone advise me on the best way to do this also is it better to apply online or by phone?

exel1966

Providing you pay the Full £800 off by the end of the introductory period the only charge you'll pay is £23.84 + interest on the fee.

King_Weasel

exel1966 wrote: »

Providing you pay the Full £800 off by the end of the introductory period the only charge you'll pay is £23.84 + interest on the fee.

Interest on the fee? Not heard of that one. Virgin certainly don't do it.

King Weasel

YorkshireBoy

exel1966 wrote: »

Most charge interest on the fee, but a handful don't.

I think you'll find as per this statement that Virgin DO charge !

2d We will charge interest on handling fees

But the full clause says...

2d We will charge interest on handling fees, and on interest you already owe, at the rate which applies to the relevant transaction.

...ergo, the fee for a 0% BT incurs interest at 0%.

exel1966

Yes, I just re-read that, hence removing the post. Apologies !