Virgin Credit Card.

Tr@cker

This card currently looks one of the best for balance transfers and is touted on this site because there is apparently no balance transfer fee-until you look at the small print on their site:

' 2% charge on SOME BT's '


Anybody know exactly what this means ?

martinpike

Exactly what it says - they reserve the right to.

But in practice, according to everyone on here, they don't. Yet.

Twopints

They don't charge for BT's during the 9 month 0% introductory period.

Click HERE for a recent post from Martin on the subject.

zodiac

Can I ask a silly question?
If I wanted to do a BT on to the Virgin card would I have to wait until I have my CC bill then apply for the card and wait for the Virgin card to come before I can do the BT or should I apply for the card now (CC bill comes in next week) and do the BT when I have the bill and the Virgin CC?

(Sorry to highjack the thread, im too scared to start one in here)

Twopints

Personally, I would apply for the Virgin card ASAP. Then, when you know your application has been accepted and what your credit limit is you can plan to do the BT as soon as you receive and activate the (Virgin) card.

Chadsman

Zodiac,
as long as you know the card number of the account with the balance (and it would be pretty hard not to know it) you can ask for a BT at any time- no need to wait for a statement. The only difficulty might lie in not knowing the exact amount (balance plus interest) required to clear the debt but you can make a good guess at the figure and even if it is a couple of quid out you can ask the CC co to refund the overpayment, or pay them a bit extra as appropriate- provided you are not wildly out with the estimate the extra interest would only be a few pence.

zodiac

Just so I get this right (because I really dont wanna get it wrong) :rolleyes:
I apply for a Virgin CC, wait to be accepted and then transfer the balance over by phoning them and asking for XXX to be BT on to the Virgin card.
If my credit limit is less than the BT then can I ask for the max to be BT over or can any amount be BT over (say half)
Does the BT have to happen at the time at I give my details over to Virgin for the card?

Is that right? Sorry to be a pain in the bum this time of night. (I am but a simple woman )

Tr@cker

I was hoping somebody who has actually done a first BT to this card but couldn't do it without the 2% charge and why would respond to this thread.

Twopints

Well there is no-one that meets those criteria. The charge does not apply. That's why no-one has replied that they can't do it.

This question has been asked a number of times on this site already. No-one has ever actually said they have been charged. As Martin's article says, if they say you WILL be charged, hang up and call again. Repeat until you find someone who knows what they are doing.

I have had my card since early July. I have used it for BT's. I HAVE NOT BEEN CHARGED FOR THIS. I did them as BT's by phone. Each time I phoned I asked if there was a charge and was told "NO". I have my statements - there are no charges on them. What more can I say?

nadnad

I just got my Virgin credit card today and it says on the letter with it that "you will be charged 2% for any balance transfers" - I requested the balance transfers on the application form and will be annoyed therefore if I get charged - I tried to phone them today but was on hold for 25 mins and couldn't wait any longer so I don't know if I actually have been charged - but the letter makes it pretty clear.

Twopints

Let us know if you get charged.

No-one has yet posted that they HAVE been charged. I do not think you get charged - I wasn't and my letter said exactly the same.

The letter (although it is not clear) means that Virgin CAN charge you, but they do not during the 9 month 0% period.