How To Transfer Credit To Another Card

Virgin Money Announces New 18 Month Balance Transfer Credit Card Deal

Once the introductory period ends it reverts to a representative rate of 16.8% APR (variable).

Balance transfers attract a fee of 2.89% and the introductory rate only applies to transfers made within the first 60 days.

The credit card continues to offer 0% on card purchases for the first three months.

Grant Bather, spokesman for Virgin Money said: "We are delighted to launch this new balance transfer credit card deal which can help make our customers better off. The new 18 month 0% balance transfer deal is great for customers who are looking for some extra breathing space to pay down their debt. A customer transferring from another card with an interest rate of 16.9% could save themselves 415 pounds over 18 months including the balance transfer fee of 2.89%".(2)

Virgin Money credit cards also incorporate contactless technology allowing customers to pay for items up to 15 pounds hassle free just by holding their card to a reader without having to enter their PIN.

Representative example: 16.8% p.a. (variable) on card purchases. This is equivalent to 16.8% APR representative (variable) based on a credit limit of 1,200 pounds.

Editor's notes:

(1) The introductory rate for balance transfers only applies to transfers made within 60 days of the account opening date. As the Virgin Credit Card is issued by MBNA you can't transfer a balance from another credit card issued by them.

(2) Saving based on leaving a balance of 2,000 pounds on a competitor card charging 16.9% p.a., monthly rate 1.313% would incur 473 pounds in interest charges over 18 months. The new 18 month 0% interest rate deal from Virgin (monthly rate 0% interest rate) would cost 58 pounds (BT fee) over 18 months, saving 415 pounds.  Assumes no other transactions and only the minimum payments are made on both cards during the period.

About Virgin Money:

Virgin Money is Virgin's financial services arm and was established in 1995 as a joint venture between the Virgin Group and , Virgin Money is 79% owned by Virgin Group, with 21% ownership by WL Ross.

Virgin Money currently has over 2.5 million customers and offers Payment Cards (Credit Cards & Prepaid Cards), Savings and Investment products (Stakeholder Pensions, Children's Pensions, Employers Pensions, FTSE Tracker ISA, Bond & Gilt ISA, Climate Change ISA, Cash ISA and Unit Trusts), General Insurance products (Motor, Home, Travel, and Pet) and Life Assurance products to the UK market. To apply go to virginmoney.com.

New Barclaycard Balance Transfer Credit Card | Compare Prepaid News

A new 18-month% card balance transfer 0 from Barclays offers 25 percent reduction in transfer fees for consumers who are struggling to pay their salaries.

The new Platinum Card facilitates transfer a balance of 25 per cent reduction of fees when a consumer makes more of a balance transfer.

The highest balance transfer will be a handling fee of 2.9 percent with the other receiving 25 percent off for new customers.

The Barclaycard Platinum card also offers a purchase discount of 25 per cent handling fee.This card also offers 12 months 0 percent interest on balance transfers, and the same length of time interest 0 percent on all purchases.