Virgin Credit Card

Bokkens

OR
Place it in a ISA(Icesave) and get 6.1% and no tax to pay!
£286.70 - £136.30 = £150.40

knights

Soprano wrote: »

Using your figures, £4700 will be put into a saving account say at 6% over 15 months which = £283.67 in interest, then take off the 2.98% fee (£136.30) leaves you with £147.37 profit as long as interest on saving doesn't fall??

Remember though that you will not get the full 15 months. You will lose a little of the 15 months getting the money from Virgin into your Interest account. Also if you have to use that money to pay the debt off you will have to move it out of the Interest account in good time to do so.

regards

Soprano

knights wrote: »

Remember though that you will not get the full 15 months. You will lose a little of the 15 months getting the money from Virgin into your Interest account. Also if you have to use that money to pay the debt off you will have to move it out of the Interest account in good time to do so.

regards

yeah, I was trying to project the 'best case' for it.

Seems like a lot of time for at best £150.

I suppose it all adds up if you have a number of cards on the go, but still...

YorkshireBoy

Bokkens wrote: »

OR
Place it in a ISA(Icesave) and get 6.1% and no tax to pay!

Or A&L's Direct ISA 4 at 6.25%.

Bokkens

Oh! yes it adds up.
Visit stoozing .com for a complete idea of how it works .
The most effective stooz is probably off setting your mortgage you can really save there.

gowgowuk

Soprano wrote: »

yeah, I was trying to project the 'best case' for it.

Seems like a lot of time for at best £150.

I suppose it all adds up if you have a number of cards on the go, but still...

Well maybe, but the actual credit card application takes about 5 minutes, not a lot of time! So, I've just decided to go for it.

lavendergirl

just make sure if you apply for an Egg Visa Card that you make sure you use it regularly. I was one of the unlucky ones last week and had my card withdrawn. rt was mainly my emergency card for using abroad. tho

midnite

Soprano wrote: »

yeah, I was trying to project the 'best case' for it.

Seems like a lot of time for at best £150.

I suppose it all adds up if you have a number of cards on the go, but still...

Don't forget that if you get the interest paid monthly you can then also benefit from the compound interest factor if you get the interest paid into the same account. Each month you will have additional money to earn interest on. Of course this only works if you are prepared to leave the interest in the account.

Soprano

gowgowuk wrote: »

Well maybe, but the actual credit card application takes about 5 minutes, not a lot of time! So, I've just decided to go for it.

Yeah, thats fine. But then its waiting for all the paperwork for setting up online banking side, then transfering payments, phoning to activate card etc.. etc..

The falling interest rates on savings which I'm expecting put me off as my ISA's are topped up for the year.

cheeks

Hi, i'm new to stoozing and have read all about it on the main site and on the forums and am pretty sure i understand it all but one thing i was unsure of is on the main site it says about using the egg money card as a mule, i understand that but then it goes on to say about virgin being one of the best 0% BT cards. but if your using virgin you don't need to go through egg, is this correct or is there an advantage in going through egg?