v concerned about Virgin/mbna cards

Richard019

Keeping_Motivated wrote: »

Can I just butt in here and ask if Virgin ask what the super balance transfer is for? I was hoping to transfer some money into my bank account to buy a car and think this is the cheapest way to do this credit wise.

Thanks
KM

I doubt they'll ask but if they do there's no need to lie, just tell them it's to repay another debt.

Toastie

jessicad wrote: »

ahh I see, i didn't realise that MBNA would transfer cash into my bank account without charging any interest - would this not be considered a cash advance and cost me a higher rate of interest?

I understand that doing this would however avoid a balance transfer fee.

Nope.

SBT - Super Balance Transfer

This is when money is entered in to account as a balance transfer - yet it can pay off an overdraft or a Loan which a credit card company may not have access or allow to be used on the Credit Card.

I hope that makes a bit of sense.

Virginw would give you 15mnths interest free if you did this.