Virgin will extend my 0% offer

dfarry

I just called Virgin to cancel my Virgin credit card and was very surprised when Customer Loyalty offered me a promotional offer.... anywhere from 0-5%

I was quite up front and said that the 0% offer that I had used for the past 9/10 months had attracted me to the card in the beginning and with so many competing cards around I would be looking for the same again.

The operator then said they could offer me 0% until June 2006 on the same terms as before - 95% max of my credit limit, minimum payment of £5 each month however I would be eligible for the balance transfer fee of 2% up to a max of £35.

I haven't taken up the offer just yet but I think I probably will.... I'm just very surprised they have extended the offer.

Innys

Was there a balance on the card or had you paid it all off already?

I'm asking cos I owe Virgin £9k too on which tyhe 0% deal runs out in Feb. I was thinking about applying for and tarnsferring it to another card but if they are prepared to extend it, I won't bother.

Thanks

I

dfarry

No I had just paid the remaining balance (about £8000) last week then had intended to close the account before moving onto another.

(at the time I posted a message about Virgin not accepting Debit Card payments over the phone....I only just paid up before my intro period ended).

About a month ago though I had transferred some of the balance to another card... if you can it makes sense to transfer what you can to other cards and then see if Virgin will extend the offer once you have paid off the remaining amount.

Storm49

Dan, thanks for the origininal post. Today I've just had similar experience with Virgin (0% about to finish, balance already transfered to another card, rang to cancel and was offered extension of current 0% to June). They were also prepared to waive the £35 fee if I wanted balance transfer immediately - which I did as they are still allowing transfers to current account. Christmas has come early! Given my record with them - only ever did the balance transfers and have never used card for purchase, I'm assuming they are hoping that, having extended my credit, when June next year comes I'll not pay them back in time. They will be disappointed.

dfarry

Cool!!... in that case I'm going to try to get them to waive the fee for me too!!

dfarry

Storm49 wrote:

Dan, thanks for the origininal post. Today I've just had similar experience with Virgin (0% about to finish, balance already transfered to another card, rang to cancel and was offered extension of current 0% to June). They were also prepared to waive the £35 fee if I wanted balance transfer immediately - which I did as they are still allowing transfers to current account. Christmas has come early! Given my record with them - only ever did the balance transfers and have never used card for purchase, I'm assuming they are hoping that, having extended my credit, when June next year comes I'll not pay them back in time. They will be disappointed.

Storm, I called them last night ready to do the next BT

I had over the last few days requested a credit limit increase but never heard anything further, but when I called last night they confirmed it had been declined... my credit limit is £12000 so that's OK really.

However when I pushed for them to waive the BT fee they would not budge at all... I even said I had knew someone that had had the fee waived and they said sorry... that's not our policy....

I decided to leave it at that point... I may ring back again today and say something like "I want to close, I'd rather BT - but I think your fee is unfair" - if they stick to their guns I'll close the account and just rely on my Egg card

dfarry

Just called them again....and they would not budge..... and I tried over and over....

They would not waive the BT fee, as I was not charged one when I first joined them. Also the person I was talking too said I was lucky to get the extension... that is not generally offered either.

After a quite lengthy discussion about rationale and business viability of balance transfers (it was a very open conversation). I decided to go with the fee anyway and BT'd £11365 - whatever way you look at it this will offset some of my debt that would otherwise be accruing interest.

I think you were really lucky to get that BT fee waived Storm...

Also they had noted the fact that I had made three calls and declined the BT 0% extension - so clearly it can be declined at anytime and is not offered generally.

alirob12

gr8 my 0% runs out shortly and hav 3,9k to bt, and with additional 6 months that will be a gr8 birthday prezzie lol, thanks for the post...
does anyone have a simmilar experience with M&S CC coz got 1 thats running out shortly too and if they extended that would be just perfect... let me know if you know anything thanks

Beancounter

I have a balance of £11700 to repay to Virgin by 23/1. Are they likely to offer everyone this extension and would I be better to repay the balance now then call to cancel after the repayment has been applied to my account and hope for the best.

I have been accepted for a Mint card but unsure about the limit I am getting so another few months of 0% from Virgin would be nice

Flashfly

A few weeks ago I called to close my card (the balance had been cleared) and they only offered me 0.9% for 6 months.

I was going to take them up on the offer at first but they couldn't answer my question about the rate I'd pay on the interest payments. I don't think they understood what I was on about.

W1zz

Has everyone just been paying just them minimum monthly repayments ie. £5 and then transfering all balance to other cards or repay before phoning to cancel/extend 0% deal?
My 0% Virgin card is due to expire in April, I do have other cards/places where I could move the balance onto and then hopefully get a 6 month 0% extension and transfer the balances back Or STB into my Cahoot Savings.
I was looking at the HSBC card but the offer would have to be around at the back end of January 2006. Assuming it took 2-3 weeks for application from which you have 30 days to do you BT's, I could clear my Virgin card in time for April.