Virgin card - change of interest rate

carinska

Hi! It may just be me who is silly enough not to know this...but thought I would just post a warning just in case! I transferred a balance to Virgin in August, then due to me not being fully clued up on the new statement timings etc, in September my payment was a few days late. I then got a standing order set up to make a monthly payment, paid the £25 late fee and forgot all about it. However I now see that since September I have been paying interest...when I called to query they say that if you make a late payment then you have broken the T&C's, therefore you lose your promotional interest rate. (I was getting charged at 13.9% instead of 0%)! They have reinstated it "as a courtesy" but will not pay back the £60 interest I paid!
Yes, I know its all my fault for missing the payment date, but I was not aware they could change your interest rate like that, so just thought I would point it out so no-one else is caught!

Reaper

Yes, this has caught others out too. I'd suggest you set up a direct debit to pay the minimum amount each month.

Cullumpster

I did the exact same thing, however i'd thought that i had set up a DD while i was on the phone activating my card, no such luck

However, if you call them and ask to be put through to the interest department, say to them that you gave your bank details when you called to activate your card and it hasn't been set up, and you are now paying interest and your not very happy!

I said that, gave a bit of a sniff at the end of the speech and she put my interest back to 0% as a gesture of goodwill ;D