Ha - not losing sleep, just money! Which is worse!
Cheers though, think I'm with it now. So if I'd taken the money on the MBNA without a fee, I could have moved the cash into the S123 and then moved the debt to Virgin. Which would have meant no fee and no transfer fee so I'd have avoided the 1.69%...
The penny has dropped, thanks.
Looks like I have my next move.
Virgin Money
Moderator: User Moderator
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- Posts: 17
- Joined: Sun Feb 21, 2016 9:59 pm
Re: Virgin Money
YorkshireBoy wrote:TSB Plus, for 5% on £2K and the same on £250 a month into their regular saver.
Nationwide FlexDirect, for 5% on £2,500 (for 12 months) and the same on £500 a month into their regular saver.
Just looking to set these up based on your tip, thanks again.
Might be a dim question but on the Nationwide one it says you have to pay in £1000 per month but can only earn interest on £2500. So am I right in assuming you just paying in the £1000 per month but take money out before the transfer in to stay under the limit?
Re: Virgin Money
No error. The thread mentions a mule card and some others that you might consider so it seems to be just a suggestion.StoozOrLose wrote:Think I'm missing something, why the shock face and the fee highlighted in red? Have I made an error I'm not aware of yet?
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- Posts: 15
- Joined: Tue Mar 22, 2016 5:49 pm
Re: Virgin Money
Apologies for mp being rather late on this, but can anyone tell me how long the "mule" process tends to take?
Say I took out that MBNA credit card on day 1 and did a money transfer the same day, how long would/should it be before I can get it transferred to the Virgin credit card? Would it just be a matter of days (or hours if I'm really fast!).
I guess it would probably be best to apply for the Virgin card first just so I know:
A) my Virgin application has been successful and
B) what my Virgin credit limit is (no point in doing an MT with MBNA for more than I can switch to Virgin)
Have I covered all bases there, or am I missing anything else of importance?
Say I took out that MBNA credit card on day 1 and did a money transfer the same day, how long would/should it be before I can get it transferred to the Virgin credit card? Would it just be a matter of days (or hours if I'm really fast!).
I guess it would probably be best to apply for the Virgin card first just so I know:
A) my Virgin application has been successful and
B) what my Virgin credit limit is (no point in doing an MT with MBNA for more than I can switch to Virgin)
Have I covered all bases there, or am I missing anything else of importance?
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- Posts: 15
- Joined: Tue Mar 22, 2016 5:49 pm
Re: Virgin Money
newstoozer wrote:Apologies for being rather late on this, but can anyone tell me how long the "mule" process tends to take?
Say I took out that MBNA credit card on day 1 and did a money transfer the same day to my stooze-pot, how long would/should it be before I can get the debt transferred to the Virgin credit card? Would it just be a matter of days (or hours if I'm really fast!).
I guess it would probably be best to apply for the Virgin card first just so I know:
A) my Virgin application has been successful and
B) what my Virgin credit limit is (no point in doing an MT with MBNA for more than I can switch to Virgin)
Have I covered all bases there, or am I missing anything else of importance?
Ooooops! Meant to edit my post rather than quote it. Sorry!!!
Re: Virgin Money
£25 cashback for successful Virgin Money credit card application if already a Virgin Money customer:
http://uk.virginmoney.com/virgin/credit ... oduct=ALL#
Need to spend £500 within 60 days to qualify. Includes balance transfers / money transfers & excludes ATM withdrawals.
http://uk.virginmoney.com/virgin/credit ... oduct=ALL#
Need to spend £500 within 60 days to qualify. Includes balance transfers / money transfers & excludes ATM withdrawals.
Re: Virgin Money
Yes, already a VM customer (an old tracker ISA). I got a decent limit £7.3K but will probably just use it to transfer £500 from other cards and pocket the £25 (having selected the card with no BT fees).
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