one account, a great account (Virgin One)

Name: colcaz

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Product:	Virgin One
Date:	29/01/07 (2667 review reads)
Rating:

Advantages: pay less interest, easy to use,

Disadvantages: none

We have had a virgin one account for about two years now, although it is all your accounts rolled in to one you can seperate them by creating pots{ of which we have many of}This seperates what you owe and what you actually have to spend, thus avoiding overspending what you dont really have.
We are hoping to clear our mortgage in eight years! We think it is a brillient idea, we use 0% visas to pay for things as much as we can, we hold the money we spend in the one account, to offset against the interest. We pay the minimum payment off each month, and only pay the full balance when the 0% period ends!to avoid paying any interest. In fact, anything we buy, we try and buy it on credit, interest free!
Its a great account, and it works well for us

Summary: great account, works well for careful savers who want to pay their mortgage off early