Virgin credit card

jules68

I have just filled in an application for this card, and was wondering about wether you can do a balance transfer into ny account as I want to pay my egg loan off?

My loan is for about £3500 and is 7.9% so I was wondering also if I would save money by virgin 0% deal albeit there is a charge

Any ideas?
Thanks

CannyJock

jules68 wrote: »

I have just filled in an application for this card, and was wondering about wether you can do a balance transfer into ny account as I want to pay my egg loan off?

My loan is for about £3500 and is 7.9% so I was wondering also if I would save money by virgin 0% deal albeit there is a charge

Any ideas?
Thanks

Yup, you can transfer 95% of your Virgin credit limit to any account you like. There's a 2.98% fee for 15 months interest, so that's effectively 2.38% as annual rate. If you pay the £3500 from your loan, using the Virgin card, it'll cost you £104.30. You can repay this within the 15 month period by paying £240.29 a month. Remember to set up a direct debit to repay at least the minimum each month - if you miss a payment you lose the 0% status and they start charging you interest.