virgin cc

colann_2

hello

i posted a question earlier today about paying overdraft with my newly acquired virgin cc. i was told i could transfer the money to my bank account to cover the laptop, overdraft etc but does this mean i would lose my 0% for 15months as it is not a balance transfer? also i have been late past couple months paying my mbna cc and they have stopped me spending - not had a card for a year anyway - but how come if virgin the same company - they have given me a cc for 4,700 -?

thanks for any advise

anna x

NickX

Hi again Colann,

The Balance Transfer to your Bank Account should be 0% for 15 months (with the addition of the Balance Transfer fee).

My advice is to do the transfer over the phone, and confirm with the CS rep that this Balance Transfer will be charged interest at 0% for 15 months. Get the name of the CS rep, and note the time and date of the telephone call so that you have comeback if anything should go wrong further down the line.

You should also note the end date of the 0% promotional period so that you can plan to transfer the balance again well before it expires and you end up having to pay the punitive variable rate.

Your past record with MBNA does sound somewhat patchy and I am a little surprised by the limit they have given you, but hey, if they have accepted you for the card then go for it, its a nice cheap loan and should help get you on the straight a narrow again,

Good Luck