Virgin Credit card cheques

Sandy_Beech

Afternoon,

Can someone just clear up, on sat i got my credit cheqs... Now if i use one to transfer a balance... Would this not be treated as a cash advance, i do unederstand there is the usual transfer fee... but had some before (NOT virgin) and these were treated as a cash advance!

Thanks tons....

YorkshireBoy

The T&C's associated with the cheques will be detailed in the letter accompanying them, or on the cheques themselves.

You'll find further details in your T&C's/summary box.

Mr_McGoo

If you use them to transfer a balance don't forget that whatever is on the card now will stay at the high rate of interest until you've paid off the WHOLE of the transfer. Any payments you make to reduce the debt will be applied only to the transferred balance until it's fully paid off.

This is the scam with balance transfers that the companies hope you won't notice. If you clear the card first (transfer balance?!) and then don't use that card until the transferred balance is cleared, you'll beat them at their own game.

But if you leave debt on the card, and/or add to it, as well as the transferred balance, you'll probably pay far more interest on that debt than you should, and that's what they are hoping you'll do.

Sandy_Beech

Mr_McGoo wrote: »

If you use them to transfer a balance don't forget that whatever is on the card now will stay at the high rate of interest until you've paid off the WHOLE of the transfer. Any payments you make to reduce the debt will be applied only to the transferred balance until it's fully paid off.

This is the scam with balance transfers that the companies hope you won't notice. If you clear the card first (transfer balance?!) and then don't use that card until the transferred balance is cleared, you'll beat them at their own game.

But if you leave debt on the card, and/or add to it, as well as the transferred balance, you'll probably pay far more interest on that debt than you should, and that's what they are hoping you'll do.

Excellent, thanks for info