virgin CC

methusala_2

wow, I just had a very enlightening conversation with a Virgin CC rep. Phoned to complain of the interest hike they propose to take my rate to 27.9%. Told him I was displeased as they are offering new ustomers 15.7%. He said , ah the reason for this is with no credit history of a new customer we feel 15.7 % is appropriate. I replied, Oh, so I have credit history wth you, never missed a payment never went over my limit so you feel its ok to charge me 27.9%. Hmmm
Dont take that attitude sir, the banking industry in general is going through bad patch right now and we feel.......

Hold it right there mate, I inturrupted, just close my account please.

Close your account sir ??

Yes please , close it, and save your speil for someone more vulnurable.

Closed Finito
The bald cheek of it lol

normanmark

Your payment history doesn't really take much into account for a companies decision to increase the rates. I never really get why people give it the spiel of 'good customer', it doesn't count for anything these days. The best bet is to play CC companies at their own game. You've closed the card so i guess you can move elsewhere now!

jpwjpw

Thats hilarious. "the banking industry in general is going through bad patch", haha, I feel so sorry that they'll only make a few billion this year instead of tens of billions. Absolute rubbish!

Casperthefriendlyghost

Hi guys

Be thankful you could close the account.

I got a letter two months ago stating that my interest rate has gone up to 35% and as I have a rather large balance and too much debt I can't do anything but put up with it and pay it.

I am throwing everything I can at it, but it'll still take me another year to pay it off, not helped by the 35% interest slapped on. It got so bad that my payments kept on going up and my balance kept on going up.

I've had this card for 3 years and never failed to make my minimum payment, I simply take it as lesson learned.

Cheers
Casper
x x x

YorkshireBoy

jpwjpw wrote: »

Thats hilarious. haha, I feel so sorry that they'll only make a few billion this year instead of tens of billions.

Why is it so funny? Don't you have a pension or other investments relying heavily on the financial sector's performance?

jpwjpw

YorkshireBoy wrote: »

Why is it so funny? Don't you have a pension or other investments relying heavily on the financial sector's performance?

Nope Read above, charging someone 35% interest should be illegal, they pray on the poor.

YorkshireBoy

methusala,

The way to 'get one over' would have been to apply for their Virgin Atlantic card. Once accepted, you'd then transfer the credit limit over from the Virgin Money card before closing that one.

End result being a 0% BT deal with a £50 capped BT fee, and a go-to rate of 17.9% APR.

methusala_2

I feel for you casper, yup been there in the past and hopefully wont go there again. Thanks Yorkshire boy as usual but to be honest the running story about the cloned Virgin card and the attitude of MBNA frightened me a bit. Not so much the cloning , that was bad enough, it was MBNA saying we are finished talking, you owe us the money, mind your fingers, SLAM! I think my Virgin card was due for closure before the letter arrived