Quick CC question - Help REALLY appreciated!

RGE08

I have just switched a Visa Bill from Yorkshire Bank and a Loan from Nationwide onto a Virgin CC at 2.9% balance transfer and 0% for 15 months. The total is £2800 which I am to pay off gradually, however, does anyone know the minimum payments per month?

Also, I have just been hit with a £3000 completion fee (see my thread regarding stamp duty lol) for a property and I dont have the cash due to it been tied up in furniture etc. I wanted to add this to the current Virgin CC bill but my limit is £4000.

I was thinking of opening another 0% CC with Abbey. I will then add this in 2 weeks when the bill is due.

Can I have 2 credit cards?
Will I be charged for this £3000 "purchase"?
What are the minimum payments per month?

I can set aside around £250 a month to pay this off, hopefully it will be paid off in 3 years.

Thanks in advance.

jonesMUFCforever

How do you intend to pay this 'completion fee'.
Will whoever you are paying accept a credit card - if not are you looking at a cash advance and threefore hefty charges.

You can have more than 1 card - it depends on your credit score how many you get and the limits offered.

The minimum payments will be stated on your statement - if it is from the MBNA stable they might only ask for £5 whilst on the promotional period.

RGE08

I was going to put the bill on my CC. Surely in this day and age Solictors & Builders will accept this?

Ok, I'll check that out tomorrow. I have £1200 on one card so may only need another card with a limit of £1800.

I was under the assumption it would be 3%. Which I can live with.

RGE08

Also, would paying off a loan be classed as a cash transaction? Or a purchase?

jonesMUFCforever

RGE08 wrote: »

I was going to put the bill on my CC. Surely in this day and age Solictors & Builders will accept this?

Ok, I'll check that out tomorrow. I have £1200 on one card so may only need another card with a limit of £1800.

I was under the assumption it would be 3%. Which I can live with.

Not many that I know of.
Builders will almost certainly want cash.
I have never come across a solicitor accepting credit cards - certainly ones that I have had dealings with never have.

You are correct about the 3% fee but are you aware that you will be paying the highest rate possible on a cash advance (around 30% in some cases) with interest charged immediately until it has been fully repaid.
Cash advances are always the last to be paid off.