Virgin Atlantic MBNA - legality of online application

Before granting credit or significantly increasing the amount of credit a creditor must assess your creditworthiness. They must base this assessment on sufficient information obtained from you and a credit reference agency.
In addition there is certain information that must be provided to you before a regulated agreement is made. You must be informed of the following:

• the nature of the agreement
• the parties to the agreement

You must also be given key financial information including:

• the amount of credit or the credit limit
• the duration of the agreement
• the APR
• the total amount payable
• the amounts and timings of repayments

This information must be contained in a document headed 'Pre-Contract Information' which must be provided separately to the credit agreement itself.
Both parties must sign the agreement and a copy of the agreement must be given to you either at the date of signing or seven days thereafter.