Virgin Credit Card 0% On Balance Transfers for 16 Months!! - HotUKDeals
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Latest offer by Virgin Credit Cards is 16 months interest free on Balance Transfers - there's a fee of 2.98% but its one of the longest interest free periods ever!!!

Don't forget you'll also get 10% off Zavvi, Virgin Wines, Virgin Holidays, Virgin Trains and Virgin Mobile!!!

There's also 6 months 0% on purchases but don't forget not to use a Credit Card for both purchases and balance transfers as your payments are usually allocated against the Balance Transfer then the Purchases (so that the Credit Card Company can charge you interest!!!).

Also, apply through CashbackKings and get £10.00 cashback!!
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#1
Have some heat - good deal :)
#2
great deal just done a transfere!!!!!!!!!!!!
Great find rep left
#3
Great Deal. Have a Virgin card all ready. Never had any problems.
1 Like #4
starsparkle2311;3225261
Yeh I know. good flippin deal! Pity I can't apply! I signed up for their 15 month deal 2 years ago, paid it off never used the card since! HOT!


Yes you can. They will just reduce the limit on your current card. I have done this a few times before... :thumbsup:
#5
Does anyone know if you can do a balance transfer INTO your bank account rather than another credit card with Virgin?

I have £7k on a MBNA card and Virgin dont allow a balance transfer to MBNA so i was thinking i could pay the debt off with my overdraft, cancel the MBNA card then apply to get a Virgin card. Than do a transfer into my Bank Account if they allow payments into the Account??? Does anyone know if they allow this??? any ideas as to how i can get this done would be much appreciated... Heat added
1 Like #6
KERMITZBITZ
Does anyone know if you can do a balance transfer INTO your bank account rather than another credit card with Virgin?


Yes you can transfer money directly into your bank account or you can use one of the credit card cheques, think there is a 3% fee on both though.
#7
fossman
Yes you can transfer money directly into your bank account or you can use one of the credit card cheques, think there is a 3% fee on both though.


CHEERS FOSMAN... rep added
#8
fossman;3228436
Yes you can transfer money directly into your bank account or you can use one of the credit card cheques, think there is a 3% fee on both though.


I can confirm this. Some CC companies have stopped this (Barclaycard for example) and you have to transfer onto another CC. Bit pants is that, but there you go. However, I have a One Account, which you get a Visa CC with - transfer onto that and it all goes into the same pot - sweet! :thumbsup:
#9
KERMITZBITZ
Does anyone know if you can do a balance transfer INTO your bank account rather than another credit card with Virgin?

I have £7k on a MBNA card and Virgin dont allow a balance transfer to MBNA so i was thinking i could pay the debt off with my overdraft, cancel the MBNA card then apply to get a Virgin card. Than do a transfer into my Bank Account if they allow payments into the Account??? Does anyone know if they allow this??? any ideas as to how i can get this done would be much appreciated... Heat added


Get yourself an Egg card - transfer the full amount from the Virgin onto the Egg card (they allow positive balances), then transfer the money from the Egg to the MBNA or directly into your bank account. I've done this loads of times to reduce my mortgage with the one account. It's called stoozing - not sure how much these companies will be giving out now though.

Hope that helps
#10
Be careful about purchasing with this card if you transfer balances onto it. it's likely any payments you make to settle purchases will be taken to pay off the balance transfer first. Keep the debt on it only, do not purchase anything and you'll be fine.
#11
jezzery;3229105
Get yourself an Egg card - transfer the full amount from the Virgin onto the Egg card (they allow positive balances), then transfer the money from the Egg to the MBNA or directly into your bank account. I've done this loads of times to reduce my mortgage with the one account. It's called stoozing - not sure how much these companies will be giving out now though.

Hope that helps
Be sure to get the "Egg money" card rather than the standard egg card.
#12
I got a mailshot from Egg today that has 0% on balance transfers until 1st January 2010 (3% fee, so for the guy with £7k on his card that would add £210 on, which is far less than the interest over the next 14 months). You are allowed to transfer overdrafts, personal loans and credit/store cards.

Shame that the 0% rate for purchases is only until the end of the year.

I have a Virgin card and it has been quite nifty, getting me nice discounts in Zavvi. However they will send you credit card cheques every month in the post (3% fee, but usually 6 to 12 months interest free after that, although you're stuck with using that card if you do use it as payments pay off oldest debt first) so make sure you have a shredder to destroy them!

Also note that having too many credit cards (even sitting at a balance of 0) can negatively affect your credit score with agencies like Equifax and Experian. Close those old card accounts, folks!
#13
Loopy Lobes
Be careful about purchasing with this card if you transfer balances onto it. it's likely any payments you make to settle purchases will be taken to pay off the balance transfer first. Keep the debt on it only, do not purchase anything and you'll be fine.


Exactly! This card is great if you need to transfer money from an account that hasn't got 0% interest. Transfer it to this card and then put the card in a draw somewhere and DO NOT spend on it. CC companies always use any payments against the debt with the lowest interest, bagging them more money.
#14
Do these give you 10% off virgin atlantic?

*edit*

* Money off high street vouchers
* First month free at Virgin Media
* 10% off at zavvi
* 10% off at Virgin Wines
* 20% off at Virgin Experience Days
* One month off at Virgin Active
* 10% off at Virgin Holidays
* 10% off at Virgin Trains
* 10% off at Virgin Money Car, Home, Pet and Annual Travel Insurance
* 10% off at Virgin Mobile
* 10% off at Virgin Vie at Home
* Half price flights at Virgin Balloon Flights
* Up to 10% off at Virgin Holidays Cruises
#15
KERMITZBITZ
Does anyone know if you can do a balance transfer INTO your bank account rather than another credit card with Virgin?

I have £7k on a MBNA card and Virgin dont allow a balance transfer to MBNA so i was thinking i could pay the debt off with my overdraft, cancel the MBNA card then apply to get a Virgin card. Than do a transfer into my Bank Account if they allow payments into the Account??? Does anyone know if they allow this??? any ideas as to how i can get this done would be much appreciated... Heat added


I've just got a Virgin CC (in the last week) but only got 15 months..doh!
However it does allow transfer into a bank account under the same terms (15 or 16 months and 2.98% transfer)...in fact I've already done this and stuck the money in an ISA.

Work the system!!
#16
g_whizz_rocky
Exactly! This card is great if you need to transfer money from an account that hasn't got 0% interest. Transfer it to this card and then put the card in a draw somewhere and DO NOT spend on it. CC companies always use any payments against the debt with the lowest interest, bagging them more money.


Yes, I had to prize this information out of them - was about to use it in Zavvi to get discount when I thought I would check. I would have lost the remaining 12 months 0% if I had spent on the card - good advice above
#17
The 3% fee puts me off using this to stooze.
#18
JeeBeePSB


Also note that having too many credit cards (even sitting at a balance of 0) can negatively affect your credit score with agencies like Equifax and Experian. Close those old card accounts, folks!


Is this true? I have a bloody wallet full of the things and they are ALL down to zero and have been for a good few months. I just like to have a few options when travelling etc.
#19
I did a balance transfer with virgin card & put it in a Kaupthing Edge 1 yr fixed a/c.
I also got £40 credited to my Virgin Media a/c.
I will NOT use the card till the balance transfer has been paid off when the BT term finishes (15 months)
#20
Adidas Addict
Is this true? I have a bloody wallet full of the things and they are ALL down to zero and have been for a good few months. I just like to have a few options when travelling etc.


Yeah, I write software that deals with credit reports, and credit card count is one of the common parameters.
#21
Remember if you are using this card for balance transfers do not use it for purchases!

Nice little sting on the T&Cs with these cards, as with other 0% deals that will mean you will end up paying interest on the lions share not solely the purchase you have made with the card!.
#22
hunsbury0
I did a balance transfer with virgin card & put it in a Kaupthing Edge 1 yr fixed a/c.
I also got £40 credited to my Virgin Media a/c.
I will NOT use the card till the balance transfer has been paid off when the BT term finishes (15 months)


How did you get the £40.. was it Quidco???

ps.. thanks everyone for your help on my bt question... thought it would be best to ask my bro to take the card out then put the money into my bank account and pay off MBNA that way
#23
Could I transfer the £2k balance from my Abbey card, and also my £2k overdraft as 2 seperate balance transfers?

Then put the card away and not use it, and use my Abbey card for purchases (0%)?

All it would be a £120 transfer fee, I could put more money in to an ISA and make much more than that in the period on interest.
#24
JeeBeePSB
Yeah, I write software that deals with credit reports, and credit card count is one of the common parameters.


Would you think 6 is too many?
#25
Adidas Addict
Is this true? I have a bloody wallet full of the things and they are ALL down to zero and have been for a good few months. I just like to have a few options when travelling etc.


http://www.moneysavingexpert.com/banking/credit-rating-credit-score
#26
hmmmmm refused??

only owe 2500 and wanted to transfer?


they said they are now going to write to me ;-)


oh well

i will not vote :thumbsup:
#27
:thumbsup:cheers mate just got mine good find heat added:-D
#28
If you transfer a balance to this card is it only worthwhile if you can pay off the debt within the 0% period? I doubt I could do that therefore it would shoot up to a higher interest i'm guessing??
#29
fossman
Yes you can transfer money directly into your bank account or you can use one of the credit card cheques, think there is a 3% fee on both though.


I think / thought, that would be considered a cash advance?

Hot find anyway.
#30
labdab
If you transfer a balance to this card is it only worthwhile if you can pay off the debt within the 0% period? I doubt I could do that therefore it would shoot up to a higher interest i'm guessing??


Yes, but only on the remaining balance...........and after the interest period of 18 months, your balance would be lower then when you started if you don't use the card for anything else, also try paying an extra tenner a month on top of the minimum payment.

And if you ring the "customer rentention department" at the end of the period, tell them you don't need it ( the card) that you have other credit cards at lower interest rates, and there's no incentive for you to use their card...........they'll try and hagle with you, but if you're adamant, you can almost always negotiate down to about 12.9%..........the lowest rate around on most cards.

Stick to your guns, they'd rather get 12.9 % off you then nothing.
#31
labdab
If you transfer a balance to this card is it only worthwhile if you can pay off the debt within the 0% period? I doubt I could do that therefore it would shoot up to a higher interest i'm guessing??


best not to use card after transfer and wait until 0% period is about to end then switch again to another 0% card:thumbsup:
#32
Adidas Addict
Would you think 6 is too many?


Depends on who's looking at your credit. At least it isn't 10!

(and to be honest I see some pretty horrific credit records sometimes, so as long as you're not the type to have £60k over 20 credit cards, you'll probably be okay)
#33


"You DO NOT have a universal credit rating"

No, but the credit agencies do have a set of scores (based upon different criteria) that are a distillation of your credit records (which includes your (and possibly your partner's and other associated people) credit application history, all your credit items (mortgage, loans, cards, etc) and their payment histories, etc.

One lender might choose to give it's 14% CC deal to those with a score over 700, 16% over 500, and 20% to everyone else, for example. Another might not even care about this score.

"Information on relatives. Provided you don’t have any joint financial products (see later) there is no information about members of your family who live, or have lived, with you or any other third parties."

Credit agencies actually store records on you, your partner, your family members, anyone you've applied for credit with in the past, and other associated people, and if requested by the lender, can return all of this credit data.

Most lenders will only use your own data however, when you apply (or you and your partner, if you do a joint application).
#34
mamboboy
Was getting sick with my HSBC charges (~£8 interest this month for being £180 in the red), plus they keep taking direct debits from me even though I make payments, so this will be perfect...

HAWWWT!!


Virgin take payments as well even if you make a payment. But they tell you what it will be online beforehand, so you can adjust your own payment.
#35
designaw
Remember if you are using this card for balance transfers do not use it for purchases!

Nice little sting on the T&Cs with these cards, as with other 0% deals that will mean you will end up paying interest on the lions share not solely the purchase you have made with the card!.


Exactly !!!!
#36
beware, virgin sneakily upped my intereset rate
#37
You should really read up on the subject before diving in due partly to the points mentioned above.

I can vouch for the fact that Egg allow positive balances - well they did a few months back when I had a positive balance in the region of £4000 which was paid back to my current account free of charge.
#38
I am surprised any of them that allow positive balances are not being investigated for money laundering.
#39
fsm65;3229698
beware, virgin sneakily upped my intereset rate


Only their standard rate may vary - If you transfer on a 0% promotion it stays on 0% until your promotional rate expires OR your break the t&c's and don't make or miss the minimum payment each month. It's important that you set up a direct debit to pay the minimum payment. This can be done in the card payment options on the Virgin Money web site.

With these cards you balance transfer and then do not use the card again. Any regular spending on this will attract standard rate interest and won't be paid until the 0% balance is cleared.
#40
fsm65
beware, virgin sneakily upped my intereset rate

Mine too!!!!!

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