Best for Debts (Virgin Credit Card 0%APR) |
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 Haemorrhaging cash on an existing credit card? If so the Virgin Credit Card is for you. You pay nothing on debit balances transferred to the card for the first 12 months, making it an ideal haven into which to shift your debts while you sort your life out. |
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The Virgin Credit Card is not a sensible piece of plastic to be buying new things with, but if you have run up debts on your existing card which you are finding it difficult to clear, apply for a Virgin Credit Card today.
The maximum charge for transferring your debt to the new card is 2% and no interest will be charged on the new balance for the first 12 months. |
Twelve Months Interest Free |
 That means your debt will stop growing from the moment you transfer it, making it much easier to pay off. As a very rough guide you will save about £200 for every £2,000 you transfer, assuming your current card charges a typical 15.9% APR. |
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The down side with the Virgin Credit Card – like all 0% transfer cards – is that the standard interest rate for purchases at 15.9% is totally uncompetitive.
Taking out a Virgin card will therefore only make sense for the first 12 months while the 0% interest rate applies. After that you should either clear your balance entirely or switch what remains of your debt to another 0% card. |
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Pros:
- No interest for 12 months on transfers
- No interest for three months on purchases
Cons:
- High rates apply after 0% period |
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