Looking for some info.
I am a recent uni graduate and as such have some rather large overdrafts which I am in the process of clearing. However they are now charging me overdraft interest.
I have made an agreement with my father for him to take out a credit card (as he can get enough credit) in order to cover my debt on one of their introductory 0% on balance transfers.
However, today a friend stated the card company (virgin) might consider a balance transfer to a current account as a cash payment....for which I would get charged the cash charge. Thereby negating the reason for the card....to avoid charges and interest.
Does anyone know if this would be the case. I cant find enough info on this over the net.
thanks in advance.