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0% credit card transfers help please?

6 replies

SortCode · 26/10/2021 11:57

Ive done the Money Saving Expert calculator and found a few with either 0% or a low transfer charge. I have £2,300 I need to transfer over as Im getting charged £30 per month with current card

For instance I have found this one with Virgin Money BUT does it mean I can only transfer £1,200 over I need to transfer £2,300???

uk.virginmoney.com/cards/products/pre-apply/?source=MSE-BTS-NA-10-05682&targetURL=/cards/products/pre-apply/&requestedSite=/cards/products/pre-apply/?clear=1&agg=MSE&product=bt-card-05&dblClick=NA

OP posts:
Lyricallie · 26/10/2021 12:05

So I've just done this the other day. It depends on what limit you get offered. The 1200 is just an example. I was offered more than that.

Hellocatshome · 26/10/2021 12:07

It depends how much credit limit they give you which varies from person to person and you won't find out until you apply.

BarbaraofSeville · 26/10/2021 12:07

If you're referring to the £1200 at the bottom it's a representative example that they're required to give by law. It's a way of comparing costs without having to understand the complicated maths that are behind compound interest.

Subject to your finances you can have a larger credit limit. I currently have a balance transfer of about £11k with Virgin money.

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SortCode · 26/10/2021 12:08

My outgoings are extremely low so I need to apply or calculate on the actual site then of the card Im interested in

OP posts:
SortCode · 26/10/2021 12:10

Ah ok great I will give it a go

OP posts:
SortCode · 26/10/2021 13:00

WOW - literally filled in the application transferred 2 credit card balances over, pressed the button and within 2 seconds - literally - it accepted it and the balances!!!!!

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