Another one suckered by Virgin! 29.9%

bobster42

I know this has been covered in a past thread but I am so disgusted by the way I have been treated by VIRGIN, I feel I must start another!
My card has £5.500 on it, my rate was 15.9% now I face a hike upto 29.9% in August!!.....SCANDALOUS!
How can they do that?...as I've just been informed by their representative it's because I ''signed up to a variable rate card and they are within their rights to do it''.
Fantastic eh? another loyal non payment missing Virgin customer stuffed up the **** because they ''review certain accounts and decide they aren't paying enough interest''
What great cutomer service that is!
It said in my Virgin customer welcome pack ''let the fun begin''......well the fun is now so obviously over!
Thank you Virgin and goodbye!

So rant over!....what is the best alternative?...I'm going for a balance transfer card, any reccomendations greatfully recieved...I thank you.

latecomer

If you have a good credit rating then get applying to someone offering a balance transfer deal. Check the credit card articles on the main site to see who's offering the bets rates at the moment.

If you dont have a good rating then perhaps you could try for a loan at your bank?

And if you dont know what your credit report is like then get a copy asap. check the sticky at the top of the board for info on how to do this.

clio

Bobster how long have you been a Virgin customer ??
i agree it,s Scandalous treament m8...

JayZed

Bobster, you should read Martin's article on this site about the best 0% balance transfer cards. The best option on the market at the moment (in terms of the length of the 0% deal) appears to be.... a Virgin card! Presumably you won't qualify for that one as you wouldn't be a new customer - but no worries, there are plenty of other options available.

Bear in mind that if you want a card with a 0% deal longer than 6 months you'll need to pay a balance transfer fee (usually 2% to 3%). There are fee-free options, but then you have to be prepared to switch every 6 months or so.

And remember - don't make any purchases at all on the balance transfer card.

bobster42

Hi all,
thanks for your replys, I have been a Virgin customer for about 2 and a half yrs, taking advantage of the balance transfer offer originally, but then carried on spending on the card as our circumstances changed.
Now, I've got to get a grip on the cards....2 cards....equating to about £11K.
Martins advice on long term card transfers is what I intend to do today, looking at the Citibank site it gives 4.9% on life of balance, forgive my ignorance but is this an APR of 4.9%? Is that the best way foreward for my predicament?
Thanks again,
Bob.

latecomer

The best solution would be if you could move it to a 0% card for as long as possible, even if its just some of the balance.

A life time balance APR is exactly that, you pay the same rate on the debt until its cleared. Would be a good thing to go for if you cant get a 0% Balance transfer deal

bobster42

Well the good news is that i've shifted my virgin balance between abbey zero and ulster bank both short term 0%ers so no more 29.9% to virgin, card now shredded!
Just got my other card which is coming up to the end of 0% to sort out..phew! hard work being a tart!...lol.
Bob.

latecomer

Might be worth planning ahead as you are going to have the same problem when these new deals expire, and of course you have more balances to transfer.