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If i get the Virgin 16 months intrest free credit card......

Banned 5 replies
Found 22nd Jun 2009
can i write out a credit card cheque and cash it in my bank account and the use my limit and then don't have to pay any intrest for 16 months?
uk.virginmoney.com/vir…jsp
Thanks

4 Comments

No it's on balance transfers.

Cheques and cash have no interest free period.


You could if timed well take cash out on your existing card and transfer the balance across, but there is a 2.98% transfer fee and the swap over so not worth doing unless its for lots of money for something you cant secure other finance on. TBH as you asked the question its not for you. Bank loan, agreed overdraft or credit union is probably the way to go. Or cut down your outgoings is the best choice.

You can use a virgin credit card cheque to pay into your account and it does count as a balance transfer but you will be charge the 3% or so for the use of the balance transfer
I have a virgin card and do this when I get offered the balance transfer, they send me cheques and I use them for the balance trtansfer, but check with them ass sometimes they send you cheques when you are not entitled to a balance transfer just for normal use

Original Poster Banned

thanks Gavin and Octobergirl both your comments are conflicting i will try and phone my mastercard and make sure with them. Thanks

I have recently received a Virgin credit card and used it to transfer money into my bank account. This does attract a 4% charge though.

If you register for their online banking, you can complete the transfer online. Hope this helps.
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