Virgin Credit Card * 40 Months Interest Free * UK's Longest Balance Transfer
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Virgin Credit Card * 40 Months Interest Free * UK's Longest Balance Transfer

101
Found 21st Aug 2015
This is the longest for balance transfer with a fee of 2.99%

Money into bank account can also be done @ 4% fee

101 Comments

Blimey - heat added

You can also get access to Virgin Money lounges in city centres if you have a Virgin Money product which has free snacks, tv, gaming etc They have recently just opened a sixth lounge in London

Thanks

Good spot shaggers

does opening several credit cards negatively impact your credit rating? or does it all go off on the fact that if you keep up repayments then you're not negatively affected?

can you only transfer the balances from multiple cards onto one card to get benefit of a balance transfer? or can you only transfer the balance of only one card over in a balance transfer?

thanks
Edited by: "EN1GMA" 21st Aug 2015

Heat added

http://i58.tinypic.com/2u9n0p3.gif

EN1GMA

does opening several credit cards negatively impact your credit rating? … does opening several credit cards negatively impact your credit rating? or does it all go off on the fact that if you keep up repayments then you're not negatively affected? can you only transfer the balances from multiple cards onto one card to get benefit of a balance transfer? or can you only transfer the balance of only one card over in a balance transfer?thanks



Head over to moneysavingexpert.com for all the answers to you questions in detail.

Meanwhile, awesome deal Op, heat added!
Edited by: "anthony69" 21st Aug 2015

Any idea what the limit is, never had a credit card before and looking into one to help fund a car purchase interest free.

mart321

Any idea what the limit is, never had a credit card before and looking … Any idea what the limit is, never had a credit card before and looking into one to help fund a car purchase interest free.


Depends on your credit profile and income. You need to apply to find out, unfortunately.

De ja vu. Wonder what happened last time credit card companies got to this point of desperation.

Weird, I was with Virgin CC a few years ago, they dumped us all to MBNA (I assumed the dumped us all, maybe they only dumped me). Yet now, they are offering a CC again.

Might sign up (for the Lounge, ofc)

can it be used for balance from MBNA & Barclaycard?

Can you get one of the Sex Pistols cards?

http://realmedia.press/wp-content/uploads/2015/06/Sex-Pistols-virgin-credit-0081.jpg

mart321

Any idea what the limit is, never had a credit card before and looking … Any idea what the limit is, never had a credit card before and looking into one to help fund a car purchase interest free.



Use the MoneySavingExpert eligibility calculator which does a 'soft search' without impacting your credit file:
moneysavingexpert.com/eli…ds/

Youngy

Use the MoneySavingExpert eligibility calculator which does a 'soft … Use the MoneySavingExpert eligibility calculator which does a 'soft search' without impacting your credit file: https://www.moneysavingexpert.com/eligibility/credit-cards/


Thanks yea I tried that before, I have a good chance of getting most cards, credit rating is 4/5 apparently, no debt, regular income, homeowner, have limited company.
Still have no idea what my limit would be though

mart321

Thanks yea I tried that before, I have a good chance of getting most … Thanks yea I tried that before, I have a good chance of getting most cards, credit rating is 4/5 apparently, no debt, regular income, homeowner, have limited company. Still have no idea what my limit would be though



I've just got one myself and the limit was £2000, similar circumstances to yourself but I'm not a homeowner.

Your limit will depend on the card and varies a lot. I typically seem to get a limit of £6/7k, but know others who get more or less. Also if you're using it to buy a car- check the fees. Some dealers charge a credit card fee that is very steep. Might be cheaper to get a small loan or finance through the car dealer.

Edit: I don't have a virgin card, but recent tesco and Halifax have been this
Edited by: "loula" 21st Aug 2015

thanks for the link to MSE. See what comes up on the soft credit check.

woah I need this

raulvibes

can it be used for balance from MBNA & Barclaycard?



​yes from any cc

Tsung

Weird, I was with Virgin CC a few years ago, they dumped us all to MBNA … Weird, I was with Virgin CC a few years ago, they dumped us all to MBNA (I assumed the dumped us all, maybe they only dumped me). Yet now, they are offering a CC again. Might sign up (for the Lounge, ofc)



Same happened to me.

EN1GMA

does opening several credit cards negatively impact your credit rating? … does opening several credit cards negatively impact your credit rating? or does it all go off on the fact that if you keep up repayments then you're not negatively affected? can you only transfer the balances from multiple cards onto one card to get benefit of a balance transfer? or can you only transfer the balance of only one card over in a balance transfer?thanks



​when you apply for any cc you are given a credit limit (based on individual circumstances)...lets say you apply and you are offered 3,000. you can then transfer and spend (collectively) up to this amount. so let's say you have 2 previous cc's and youre iwing balance is 2,000, you can tranfer from both cards and still have 1,000 left to spend on your new cc. hope this makes sense xx

Chanchi32

Blimey - heat addedYou can also get access to Virgin Money lounges in … Blimey - heat addedYou can also get access to Virgin Money lounges in city centres if you have a Virgin Money product which has free snacks, tv, gaming etc They have recently just opened a sixth lounge in LondonThanks



​is there one in Manchester

samosa

Same happened to me.



Virgin Money recently bought their cards back from MBNA. It's all managed and ran by Virgin Money now.

mart321

Any idea what the limit is, never had a credit card before and looking … Any idea what the limit is, never had a credit card before and looking into one to help fund a car purchase interest free.



Don't do it! Save up and buy a car with cash. Avoid debt other than mortgage

jcluk

Don't do it! Save up and buy a car with cash. Avoid debt other than … Don't do it! Save up and buy a car with cash. Avoid debt other than mortgage



Stupid advice, please ignore this! As you have already worked out, if you have the option to buy on interest free debt then that almost always works out better than saving up. Make the purchase, pay the debt off and away you go.

mrimac94

Also 24 months 0% on purchases here: … Also 24 months 0% on purchases here: http://uk.virginmoney.com/virgin/credit-cards/balance-transfer-and-purchase-card/


In my opinion the above link to the 24 month card is much better value.
0% on purchases for 2 years, (only 3 months with OP deal)
0% on bal transfers for 2 years, with just a 1% fee, so to transfer £3000 would cost you £30, (the op deal whilst longer 0% period, the 2.99% fee makes the same transfer have a £89.70 fee)
0% cash transfers are also for 2 years but only charge 1.9% so borrow £1000 would cost you £19 fee (op deal £1000 cash at 4% would cost you £40 fee.)

Excuse the noob question...(I.e be gentle!) if I bought a macbook for £1,300 how much would I have to pay per month on this (0%) would it be 40 months or 24 months etc...! So confused by credit cards as never had one oO

Very good deal but the 24 month purchase one suit's us down to the ground

Chris777uk

Excuse the noob question...(I.e be gentle!) if I bought a macbook for … Excuse the noob question...(I.e be gentle!) if I bought a macbook for £1,300 how much would I have to pay per month on this (0%) would it be 40 months or 24 months etc...! So confused by credit cards as never had one oO




The ops only has interest free purchases for 3 months (so u would start to incur interest after 3 months which u def want to avoid)..so no good for.you unless you transfer the money into you bank account after paying for it via onother means. Then you would be paying 1300+4pc total 1356 and have upto 40 months to pay that.

The.minimum monthly payment isnt usually more than 5pc of balance ( so c65 quid month 1 which would slowly reduce) but look at the terms and you will see.

Your best bet would be plan what u cab afford eg 50 a month and plan on paying it off over 27 months

Can someone please clarify something for me? (not actually about this card but just credit cards in general)

I've seen one from the post office (http://www.postoffice.co.uk/credit-card/matched) which offers 25 months of interest free credit on purchases. (yes to get this you have to buy something within the first 3 months to qualify or you only get 16 months)

The way i see this "interest free credit", does it apply on all purchases made within the first 25 month period? So one thing bought in week 1 will get 25 months of interest free if you pay it off at minimum all the time, and another in the 24th month will get 1 month of interest free, then if there is any balance remaining it will be charged interest at the current APR?

So essentially free to borrow money (put purchases on this card) within the first 25 months as long as you pay the minimum?

Or am I completely wrong here? (never had a credit card so some clarification would be nice from someone in the know)

Thanks in advance

Chris777uk

Excuse the noob question...(I.e be gentle!) if I bought a macbook for … Excuse the noob question...(I.e be gentle!) if I bought a macbook for £1,300 how much would I have to pay per month on this (0%) would it be 40 months or 24 months etc...! So confused by credit cards as never had one oO



You would not pay any interest for the first 40months, assuming you bought it straight away, however, you would have to pay the minimum amount each month, not sure what it is with this card. So you'll still need to pay something back each month to keep up your requirements for the 40months offer. At the end of the 40months you'll be charged interest on whatever amount is left outstanding.

SimonFin

Stupid advice, please ignore this! As you have already worked out, if you … Stupid advice, please ignore this! As you have already worked out, if you have the option to buy on interest free debt then that almost always works out better than saving up. Make the purchase, pay the debt off and away you go.



Why do you think interest free credit is provided? Because a lot of people don't clear their debts and end up paying interest. Debt equals risk and if you circumstances change you are left with payments you can't afford. It's never "stupid advice" to save and pay cash for something you can afford.

Virgin Credit Card * 40 Months Interest Free *

fee of 2.99%

Money into bank account can also be done @ 4% fee .

can someone please explain what all the above means, i have never had a credit card before.

just say i wanted to buy something for £100, does my statement show i have to pay a certain amount off each month or will it show the total and when it needs to be paid by?

also says :-

I am so confused, what is a balance transfer, a money transfer and a purchase difference?

Edited by: "garbage456" 21st Aug 2015

jcluk

Why do you think interest free credit is provided? Because a lot of … Why do you think interest free credit is provided? Because a lot of people don't clear their debts and end up paying interest. Debt equals risk and if you circumstances change you are left with payments you can't afford. It's never "stupid advice" to save and pay cash for something you can afford.


Debt doesn't equal risk though; if I could borrow £10m at 0%, I would in a heartbeat. The risk to me would be zero, or at least negligible, assuming I didn't then do something stupid with it.

Lets say you scale it down and that's £100k at 0%, perhaps offset against a mortgage (at say 3%) - effectively £3k tax free a year for no cost, it'd definitely be "stupid advice" to not take advantage of that, surely?

snowflake75

​is there one in Manchester


There sure is! The Lounge locations are:

Norwich
Manchester
Edinburgh
Glasgow
London (Eagle Place)
London (Haymarket)

More coming soon too so watch this space!

welshy2000

Depends on your credit profile and income. You need to apply to find out, … Depends on your credit profile and income. You need to apply to find out, unfortunately.


there is only one rule - pay off in full if u get one

bobbyh89

There sure is! The Lounge locations … There sure is! The Lounge locations are:NorwichManchesterEdinburghGlasgowLondon (Eagle Place)London (Haymarket)More coming soon too so watch this space!



​oh wow I must check this our!!... thankyou

weltysparrow

De ja vu. Wonder what happened last time credit card companies got to … De ja vu. Wonder what happened last time credit card companies got to this point of desperation.


Well Barclaycard reduced limits hugely and never gone back.

Comment

mart321

Thanks yea I tried that before, I have a good chance of getting most … Thanks yea I tried that before, I have a good chance of getting most cards, credit rating is 4/5 apparently, no debt, regular income, homeowner, have limited company. Still have no idea what my limit would be though



U won't know limit until u apply and u won't get a massive limit if u have no other debt as they can't judge repayment history of u only affordability.
Just apply there is no detriment and if u aren't happy with the offer just turn it down. U have nothing to lose El capitano

Branson must be planning his next fire on a newly bought island with its blinging accessories. Some ones got to fund it....
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