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0% for 30 months on purchases - longest ever purchase credit card @ Virgin Money
0% for 30 months on purchases - longest ever purchase credit card @ Virgin Money

0% for 30 months on purchases - longest ever purchase credit card @ Virgin Money

Longest ever 0% purchase credit card from Virgin Money - giving 0% for 30 months on purchases. Ideal ahead of the festive spend period.

Previous longest 0% purchase credit card deal was Tesco/Sainsbury's 0% up to 28 months.

121 Comments

Original Poster

Use the card checker tool to give likelihood of acceptance without affecting your credit rating

uk.virginmoney.com/vir…ard

https://s22.postimg.org/7x4qeu6o1/Screen_Shot_2016_11_08_at_20_17_55.jpg

Edited by: "Chanchi32" 8th Nov 2016

I'm in

http://i63.tinypic.com/4t98vp.gif

Any cashback with this OP?

Edited by: "vassy1" 8th Nov 2016

Chanchi32

...


Bring it on OP

What's it going to be??
http://i67.tinypic.com/4t0i7s.gif

Edited by: "vassy1" 8th Nov 2016

what's the limit

Thank you chanchi, heat added



I'm in


vassy4u

I'm in

Chanchi32

...



Bring it OP


X)

It's almost like they're giving it away...

https://i.chzbgr.com/maxW500/6951924736/h1D8926BE/

X)

Mmmm now you are talking
https://media.giphy.com/media/m7FO0p9hTc59e/giphy.gif

Original Poster

wakkaday

what's the limit



credit limit will vary by applicant

is it possible to get hard cash via this . I gave a lloyed with 10k limit so I guess i spend on that and transfer to this card ? never quite understood how this works

thanks Chanci

Original Poster

wakkaday

is it possible to get hard cash via this . I gave a lloyed with 10k limit … is it possible to get hard cash via this . I gave a lloyed with 10k limit so I guess i spend on that and transfer to this card ? never quite understood how this works



This offer is for purchases

If you want money in the bank, sounds like you are after a money transfer credit card, the best money transfer offer is Virgin Money 0% for 32 months with a 1.69% fee http://uk.virginmoney.com/virgin/credit-cards/money-transfer-cards/

ta

Chanchi32

This offer is for purchasesIf you want money in the bank, sounds like you … This offer is for purchasesIf you want money in the bank, sounds like you are after a money transfer credit card, the best money transfer offer is Virgin Money 0% for 32 months with a 1.69% fee http://uk.virginmoney.com/virgin/credit-cards/money-transfer-cards/ta




ok cool will check that out.

do i have to have existing debt on a card to transfer over to this. if i opt for a purchase card. or will the purchase card mean anything i purchase on the card depending on the limit i will 30 months to pay off interest free?

to make this clear

"32 Month Money Transfer Credit Card
Transfer rates
Balance transfers
0% for 32 months then 19.9% p.a. (variable)
Money transfers
0% for 32 months then 19.9% p.a. (variable)
Purchases
0% for 3 months then 19.9% p.a. (variable)
Transfer fees
Balance transfer fee
1.69% fee (min £3)
3.50% initial fee reducing to
1.69% after refund
Money transfer fee
1.69% fee (min £3)"


i will be acceppted for this card. in the pre-credit check . i selected £15000 (the max) will this be transferred to my current accoutn and i just pay the minimum amount each month with the 1.69 fee and thats it...

or alternatively i can apply for a credit card with 15000? and use that to buy stuff and pay the minimum amount each month over 30 months interest free?
Edited by: "wakkaday" 8th Nov 2016

30 months interest free purchases is crazy long. heat added!!

Original Poster

wakkaday

ok cool will check that out.do i have to have existing debt on a card to … ok cool will check that out.do i have to have existing debt on a card to transfer over to this. if i opt for a purchase card. or will the purchase card mean anything i purchase on the card depending on the limit i will 30 months to pay off interest free?



Will try and explain, there are different types of cards for different needs

The 0% for 30 months on purchases - this is a purchase card, so any new purchases will mean that you get 0% for 30 months e.g. you decide to buy a PS4 over black Friday and have 30 months interest free

There are other types of cards
- Money transfer credit card - this is if you want to transfer money from your card balance to your bank account e.g. like a loan. It usually comes with a fee and the most competitive deal is Virgin Money - 0% for 32 months with a 1.69% fee. I took this out at the start of the year and gave me a credit line of approx £10k

- Balance transfer credit card - if you have an outstanding balance on another credit card and want to transfer to a deal to stop paying interest or maybe an existing 0% deal is coming to an end e.g. you mentioned Lloyds. There are various deals on this depending on your need. If you dont want to pay a fee a number of card issuers provide 0% balance transfers for 24 months e.g. Virgin, Tesco. If you want 0% balance transfer length, then the longest in the market is around 0% for 40/41 months but has a fee attached. Virgin and Lloyds offer decent deals 0% for 40 months with a fee of less than 2%.
Edited by: "Chanchi32" 8th Nov 2016

This card also comes with:

Balance transfers
0% for 18 months then 19.9% p.a. (variable)

Original Poster

merb0786

This card also comes with:Balance transfers0% for 18 months then 19.9% … This card also comes with:Balance transfers0% for 18 months then 19.9% p.a. (variable)



If you want a card specifically for balance transfers go for a different deal e.g 0% for 32 months with a 0.59% fee, 0% for 40 months with a 1.99% fee http://uk.virginmoney.com/virgin/credit-cards/balance-transfer-cards/

Alternatively if you dont want to pay a fee - go for a 0% for 24 month balance transfer card with no balance transfer fee e.g. Virgin, Tesco
Edited by: "Chanchi32" 8th Nov 2016

Chanchi32

If you want a card specifically for balance transfers go for a different … If you want a card specifically for balance transfers go for a different deal e.g 0% for 32 months with a 0.59% feehttp://uk.virginmoney.com/virgin/credit-cards/balance-transfer-cards/Alternatively if you dont want to pay a fee - go for a 0% for 24 month balance transfer card with no balance fee e.g. Virgin, Tesco,


Didn't know you were a financial advisor

Original Poster

bartosi

​just bear in mind that 30 months interest free period is only valid for p … ​just bear in mind that 30 months interest free period is only valid for purchases made within first 60 days of opening.



Based on the summary box I interpreted that the 60 days from account opening applies to money transfers and balance transfers - not for the 0% on purchases

uk.virginmoney.com/vir…pdf

it's time to look for 75' 4k Ultra Super Hiper Pixel HDR TV... black Friday madness !!!! here I come

Good deal if you cut up the card as soon as you get it and only use the balance transfer option to clear your debt. Credit cards are best avoided otherwise. Pay with money you have.
Edited by: "jcluk" 8th Nov 2016

https://www.youtube.com/watch?v=K0G9T5Bnjlc
Heat added

Original Poster

jcluk

Good deal if you cut up the card as soon as you get it and only use the … Good deal if you cut up the card as soon as you get it and only use the balance transfer option to clear your debt. Credit cards are best avoided otherwise. Pay with money you have.



This is a deal for 0% on purchases not balance transfers

jcluk

Good deal if you cut up the card as soon as you get it and only use the … Good deal if you cut up the card as soon as you get it and only use the balance transfer option to clear your debt. Credit cards are best avoided otherwise. Pay with money you have.



Why would it be a good deal if you use the balance transfer option? That would actually be the worse way you could use a card like this! If you transfer a balance to this card you would be charged 2.99%, so say if you transferred £1000 then you would automatically be charged £29.90 and this balance would have to be cleared within 18 months - so you would have to pay off £1029.90 over 18 months which is £57.22 a month. If you are aware that you will need to make some big purchases for example Christmas, and you spend £1000, you then can spread this payment over 30 months which works out at £33.33 a month, no additional charge.

So tell me again why you would cut up a PURCHASE CARD, put it in the bin and only use it for the transfer feature?

Of course if you have a balance that needs to be transferred then go for a balance transfer card with a lower transfer rate. However, this deal is for those who are planning big purchases (and I'm sure we all are), and is a smart way for a smart person to spend their money over this financially challenging period and not have to worry about additional charges or high, immediate repayments.

If you're not in a position to get a card like this, or you don't understand how it works then fair enough. But it's downright stupid to suggest that credit cards should be 'avoided'.

Thanks, I got one with a good limit too.

bartosi

​just bear in mind that 30 months interest free period is only valid for p … ​just bear in mind that 30 months interest free period is only valid for purchases made within first 60 days of opening.



I don't think that's right. That wording is for balance transfers. Purchases will be interest free for the 30 months.

Oh yes chanchi.youre a star
http://gifrific.com/wp-content/uploads/2013/12/Clark-Griswold-Credit-Card-ATM-Cash-and-Smile.gif

Zuulan

I don't think that's right. That wording is for balance transfers. … I don't think that's right. That wording is for balance transfers. Purchases will be interest free for the 30 months.



​sorry, my mistake..

narstar

Why would it be a good deal if you use the balance transfer option? That … Why would it be a good deal if you use the balance transfer option? That would actually be the worse way you could use a card like this! If you transfer a balance to this card you would be charged 2.99%, so say if you transferred £1000 then you would automatically be charged £29.90 and this balance would have to be cleared within 18 months - so you would have to pay off £1029.90 over 18 months which is £57.22 a month. If you are aware that you will need to make some big purchases for example Christmas, and you spend £1000, you then can spread this payment over 30 months which works out at £33.33 a month, no additional charge.So tell me again why you would cut up a PURCHASE CARD, put it in the bin and only use it for the transfer feature?Of course if you have a balance that needs to be transferred then go for a balance transfer card with a lower transfer rate. However, this deal is for those who are planning big purchases (and I'm sure we all are), and is a smart way for a smart person to spend their money over this financially challenging period and not have to worry about additional charges or high, immediate repayments.If you're not in a position to get a card like this, or you don't understand how it works then fair enough. But it's downright stupid to suggest that credit cards should be 'avoided'.



Misread it.

It's certainly not stupid to avoid credit cards though. Quite the opposite! Pay with money you have. The only debt you could ever argue is 'needed' would be a mortgage. The whole reason banks offer these purchase offers is because people often don't pay it off within the time period.

I also bagged a nice credit limit. Thanks OP

Just out of interest...does anyone over forty still play these games?

I think the 2 months shorter at tesco would be a better deal for most because you earn clubcard points on your spend, whereas Virgin offer no rewards. The small gain from the value of the points probably outweighs the 2 months extra

Original Poster

gwapenut

I think the 2 months shorter at tesco would be a better deal for most … I think the 2 months shorter at tesco would be a better deal for most because you earn clubcard points on your spend, whereas Virgin offer no rewards. The small gain from the value of the points probably outweighs the 2 months extra



Tesco is up to 28 months, not guaranteed, depending on risk some people will get less.

Nice. I just got the 25 months one last month

I wonder how many stupid people will decide to take 30m to pay of this years xmas bill

Great find OP. Heat added thanks

jcluk

Misread it.It's certainly not stupid to avoid credit cards though. Quite … Misread it.It's certainly not stupid to avoid credit cards though. Quite the opposite! Pay with money you have. The only debt you could ever argue is 'needed' would be a mortgage. The whole reason banks offer these purchase offers is because people often don't pay it off within the time period.



It may not be Stupid to avoid them all together, but even more intilligent, is to use them to better your financial situation.

Paying with 'money you have' (cash/debit) on large purchases actually gives you less consumer proection than purchasing with a credit card. Make big purchases on the credit card, clear the balance at the end of the month and you are in a better position than not using the credit card.

Then there is stoozing - you can use these kind of credit card deals to get really cheap money and put it to better use elsewhere, thus saving you money in the long run.

Or reward cards - again make purchases on a reward credit card all month, clear the balance at the end of the month and collect your Avios/Clubcard Points/Nectar points etc. Points that you would not have collected if you had paid by cash/debit.

If you dont trust yourself, thats fine, you can stay clear of clear of credit cards, by all means. But dont take the high horse approach of 'all credit is bad', because that is simply not the case.

dodgymix

I wonder how many stupid people will decide to take 30m to pay of this … I wonder how many stupid people will decide to take 30m to pay of this years xmas bill



Here we go again, another person posting simplistic insults, possibly because they themselves are not capable of handling debt and thus rule out other people being savvy enough to use it wisely and to their advantage.

What I don't really understand is why you think it's more clever in your own deal to borrow the money for a similar period of time via bank transfer and pay a fee for that, rather than plan a little ahead and slow stooze the money out with this card without paying a fee. Surely for your own balance transfer you'd be better off starting a purchases card in 2 years' time to get more funds rather than waiting 32 months and paying another fee?

http://www.hotukdeals.com/deals/cheapest-loan-cash-ll-ever-get-with-a-virgin-money-bank-transfer-credit-card-1-69-2475701

I see lots of antagonism on your thread where you distinguish between balance transfer and the often poorer deals that are money transfer cards because you're "not stupid" and credit card debt free. However, the really clever, not stupid, move would be to create a credit card debt by using one of the fee-free money transfer cards where you're just charged 6 or 7% apr, and then pay it within a few days (potentially without incurring any interest, or a few pence at most) by using a conventional balance transfer credit card. Same result, no handling fee.
Edited by: "gwapenut" 9th Nov 2016

Are you only allowed one credit card from a provider (Virgin for example)?

Tempted by their balance transfer card as well and use this for new purchases, I can pay the balance off if needed but prefer having the money usable.

HotAddict

Are you only allowed one credit card from a provider (Virgin for … Are you only allowed one credit card from a provider (Virgin for example)?Tempted by their balance transfer card as well and use this for new purchases, I can pay the balance off if needed but prefer having the money usable.



You can have more than one card with some providers, but i doubt they will let you have more than one of these 'Introductory offers'. Existing MBNA customers could also not take up the Virgin deals in the past because the virgin cards were managed by MBNA. I do not know if this is still the case. It will be in the small print no doubt.

I think you can get 'combi' cards for both balance transfer and purchase. It depends exactly what you plan to do. Try moneysavingexpert website (credit card section) to see what is available.

Disclaimer: i am in no way associated with Moneysavingexpert
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