Will I lose my 0% rate

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Leste2b
Leste2b Posts: 6 Forumite
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in Credit cards
I recently opened a Credit card with Virgin money to carry out a balance transfer from a credit card that was nearing the end of its 0% period.

I have just realised that due to a late showing expenditure on the card I have dipped slightly over my limit (£8 to be precise) and have immediately made a payment to more than cover the amount.

My question is this: Will I lose my 0% areement for being over my limit for a few days? Bearing in mind that my statement is not due to be generated for another 10 days and my prevous statement has me well below my limit and out of danger.

Any help on this would be greatly appreciated!
:beer:

Comments

  • MallyGirl
    MallyGirl Posts: 6,627 Senior Ambassador
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    I'd give them a quick call and explain. Hopefully that should keep you on the 0% rate
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  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Are you telling us that you have purchases and balance transfers on the same card?
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    jonesMUFCforever wrote: »
    Are you telling us that you have purchases and balance transfers on the same card?

    Virgin do offer cards that have 0% on BT and purchases. One card has 28 months on both.
  • Leste2b
    Leste2b Posts: 6 Forumite
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    jonesMUFCforever wrote: »
    Are you telling us that you have purchases and balance transfers on the same card?
    binaryuniverse wrote: »
    Virgin do offer cards that have 0% on BT and purchases. One card has 28 months on both.


    Thank you both Yes I do have BT and Purchases 0% for 28 months. Do you think it will be a problem?
  • fozmcfc
    fozmcfc Posts: 3,098 Forumite
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    It will depend on their rules. Some companies, allow the limit to be slightly broken by one purchase, as long as it's bought back into limit, by the time the statement is produced.

    Or it could trigger a letter immediately winging it way to you, to say that you have gone over limit and will lose the 0%.

    If that happens, many first time offenders, ring, say sorry and have the 0% re-instated.

    Hopefully someone will give you an answer, otherwise, I'd contact them.
  • dld2s
    dld2s Posts: 441 Forumite
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    I have found that if you call and explain things, especially at the beginning of a new card CC companies usually give a bit of leeway when a error occurs
  • Leste2b
    Leste2b Posts: 6 Forumite
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    fozmcfc wrote: »
    It will depend on their rules. Some companies, allow the limit to be slightly broken by one purchase, as long as it's bought back into limit, by the time the statement is produced.

    Or it could trigger a letter immediately winging it way to you, to say that you have gone over limit and will lose the 0%.

    If that happens, many first time offenders, ring, say sorry and have the 0% re-instated.

    Hopefully someone will give you an answer, otherwise, I'd contact them.
    dld2s wrote: »
    I have found that if you call and explain things, especially at the beginning of a new card CC companies usually give a bit of leeway when a error occurs



    Thank you both! will get on to them in the morning
  • jasminum89
    jasminum89 Posts: 11 Forumite
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    It's always best to call, or even go visit them. You can negotiate. They don't want to lose client
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