virgin credit card worth keeping?

MABLE

shaf00uk wrote: »

I have to disagree with everyone here.

If you got a credit card and never use it then ditch it and close the account down.

Why? Your credit report will state ALL your credit card that you have. Rather have a few credit cards so that if there is a good deal in the future you can obtain bigger credit limit on a new card.

Right now your credit card could be using some of your credit limit for nothing. Hence ditch it.

I have over £80,000 worth of available credit with about 10 cards. My credit range from £3,000 up to £15,000.

I have never found it a problem being offered good deals. Also MBNA stable of cards are worth keeping because they are always offering their good customers excellent deals. Me included.

speedbird1973

If I were the OP I'd go for another MBNA card. Would be possible to transplant the limit from the virgin card to the new one and take advantage of the generous limit again.

Then close the virgin card.. you'll be classed as a new customer when you apply with them again.

SuiDreams

JesseJames wrote: »

Thanks, I did get to that page though, but cannot enrol to see the full list as I cancelled my card earlier on this year.
Can you cut & paste the definitive list, or is that the full list?

Thats currently the full list

NickX

speedbird1973 wrote: »

Would be possible to transplant the limit from the virgin card

That sounds quite complicated, maybe similar to a heart transplant perhaps

shaf00uk

LongTermLurker wrote: »

That's too simplistic - someone with an excellent credit rating can afford to hold onto a good card without it affecting them adversely.

As others have said, it's an MBNA card; MBNA are good to those who can manage their finances well (I've heard they're not so good for those with problems) and they have loads of cards, which means there is always an MBNA offer on the go.

So having one MBNA card puts you in a great position for getting a different one - if you phone them up they'll probably let you swap and change it for any of their cards when you see a new deal (obviously so long as you don't take the proverbial).

Longtermlurker,

Point taken. Credit cards are never really simple. If the op has only two cards then they're easy to manage and keep hold of.

Crumpetman, the virgin card has got some good offers on virgin brand products and some high street outlets - check out the website below - may be more beneficial than the standard 1% cashback you get with egg cashback credit card so worth a shot!

http://uk.virginmoney.com/credit-card-v3/offers.html

I'm still learning...

SIRUSKEY

Can i buy Sainsbury vouchers and then pay for fuel with them? Does anyone know???

PHANTOM

Hi Guyz,

Like mentioned previously in this post - credit cards are good (if they behave themselves). The Virgin Card itself is a good credit card, and since it makes use of Richard Branson's company name it does offer good privileges. BUT, oh yes there is a but - when you run into problems the parent company - MBNA - don't want to know. I have had my Virgin MasterCard for six years and been using it on a regular basis with regular repayments etc. Than all of a sudden someone ran up £8000 debt within 2 days - and I have become MBNA's worst enemy and they don;t want to know jack :mad:

You can read about my experience in this post:
http://forums.moneysavingexpert.com/showthread.html?t=1101343&page=2

All in all, I can only say that even though these credit cards are good - they do have a sting in their tail. And like they say - Once bitten - twice Shy...

K

LongTermLurker

shaf00uk wrote: »

Point taken. Credit cards are never really simple. If the op has only two cards then they're easy to manage and keep hold of.

I'm still learning...

Glad to hear you understand where we're coming from. I might be wrong, but I sometimes get the feeling that people at times take this site's comments as gospel and say "don't do that!" like a rule that should never be broken, when a bit of alternative thinking can see you onto a winner (I'll probably be burned for heresy now for questioning Lord Martin )

eg Rule: Thou shalt never use credit card cheques

Response: Virgin CC cheques are interest free for 15 months with around a 3% fee, giving you an easy way to stooz to your savings account - most/all MBNA cards have the same feature, for varying time periods.

That's the best thing about forums - you get the benefit of a lot of different viewpoints.

NickX

There are quite often exceptions to "golden" rules.

For example the rule regarding never spending on a Balance Transfer card can be broken when the Purchases are on an identical promotion to the Balance Transfers and have identical End Dates.

JesseJames_2

SIRUSKEY wrote: »

Can i buy Sainsbury vouchers and then pay for fuel with them? Does anyone know???

Yes, I used Sainsbury vouchers last week to buy fuel.