Credit Card Blog

Something we don’t often talk about is the ability to transfer money from a credit card to a debit account. You may think this is quite a bizarre thing to do, but even from personal experience, I’ve had to do this. Imagine you’re near your overdraft limit and you’ve got a few direct debits coming out – maybe rent or bills. If you’ve got no money coming into your account, how do you deal with it?

If you’ve got a normal credit card you can take the cash out and then lodge it in your debit account, but it’s a pain and you’re going to be charged at a higher interest rate for withdrawing cash and you’ll have to pay the handling fee (around 3%). Virgin though make it slightly easier – you can do a money transfer into a debit account, and although you’ll pay a slightly higher rate than the purchase rate, it’s still below that of withdrawing cash. You still pay the handling fee, but overall it works out as cheaper and a lot less hassle!

If you’re looking for a virgin credit card, then it’s currently a really good choice – with the longest 0 interest balance transfer periods, and a good free interest purchase period, it’s one of the best credit card deals on the market. You can find out more information by going directly to the Virgin credit card website

This entry was posted on Monday, February 9th, 2009 at 5:44 pm and is filed under Uncategorized.
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