Virgin CC Direct debit query

Cutecub79

I have applied for a Virgin Credit card to transfer money into my account to pay off a loan.

I have searched the forums for info on Virgin CC. One of the things that bothers me is the setting up of a direct debit. From what I can understand, sometimes the DD will not be set up in time to cover the first payment.

My question is; How do I make a payment in time incase the DD isnt sorted out. If I set the DD to come out on the 27th of each month, does this become my statement date or payment date? In order to make the first payment, I need to make a payment before this date? Eg: If I set up the first DD to come out on 27th December, I need to make a payment around the 10th of December, and after this I can rely on the DD.

Sorry if this makes no sense, but I want to make sure im doing the correct thing, to avoid a late payment charge, and more importantly the loss of 0% interest!

Any help welcome!

milliemonster

Usually on your statement it will tell you what the min payment will be and it will say something along the lines of 'will be taken by direct debit on or around x of the month', if it isn;t set up in time for your first payment, it will give you a date to receive payment by so you can either send a cheque (at least a week before) or pay over the phone, online through your bank (at least 4-5 days before), then you should be fine

YorkshireBoy

Maximise your chances of getting the DD set up in time by asking for a statement date of 'yesterday', ie if calling to activate the card today, 13th November, then ask for a statement date of the 12th of the month.

This will give them nearly a month to get the DD set up with your bank.

Check your first statement for confirmation that payment will be taken by DD, and if it's not there pay by...

Debit card (over the phone, or online at their website...but must register first)
Telephone/internet banking from your own bank.
Cheque or cash with statement giro slip at your bank.
Cheque through post (last resort!).

Details of all the above payment methods are on the reverse of your statement.

debsy42

I set up my account so I can access all the details online. It gives you the option there to make payments directly, view your statements etc and also shows your minimum payment amount and due date.

Cutecub79

Ahhh, ok. that all makes sense.

Yorkshireboy - Great Idea about giving the previous days date for the DD.

One more thing, how long does an online payment take to go through via the Virgin website? Sorry, Im feeling a tad paranoid about this!!

YorkshireBoy

Cutecub79 wrote: »

Yorkshireboy - Great Idea about giving the previous days date for the DD.

The previous day's date is not for the DD...it's for the statement production. Your DD will be collected another 4 weeks after the statement is produced, ie 8 weeks down the line, but they need to tell you on the statement when that will be.

...how long does an online payment take to go through via the Virgin website?

"When will my payment credit my account?

Payments taken before 5pm Monday to Friday will be credited to your credit card account in two working days. Payments made after 5pm or weekends or bank holidays will be credited to your account in three working days. Need more information?
Payments made after 2.30pm on the last day of each month will take an extra day to credit your account.

In all cases, you will see your payment on your account the day after it is credited."