Virgin Credit Card should be 0% int... now charging??

prowla

This happened to me a few years ago when I took out a Barclaycard, and I realised it was a scheme to lock you into paying interest on your purchases.
Basically the first thing in the queue is your balance transfer, and then your purchases step in line after that.
So your minimum monthly payments chip away at the balance transferred and never touch the purchases.
You could have the card a year or longer and still be paying interest on the full amount of all the purchases you have made.
I dread to think what the APR on those purchases is!

FannyHill

It's easy to transfer a balance and continue to use the card for new purchases.


I suppose that's why they are so keen to get you to do transfers.

Ducklet77

I have a similar question to the OP but the answers given don't seem to make sense for me - can anyone help?
I transferred a balance to a Virgin Card in August 08 but have been charged significant interest every month from October. I won't have paid off the original balance transfer and my deal was supposed to be for 0% for balance transfers for 15 months and purchases for 3 months. Can anyone explain? Virgin haven't replied to a letter I wrote to them querying it and I wonder if I've missed something.

YorkshireBoy

Ducklet77 wrote: »

I have a similar question to the OP but the answers given don't seem to make sense for me - can anyone help?
I transferred a balance to a Virgin Card in August 08 but have been charged significant interest every month from October. I won't have paid off the original balance transfer and my deal was supposed to be for 0% for balance transfers for 15 months and purchases for 3 months. Can anyone explain? Virgin haven't replied to a letter I wrote to them querying it and I wonder if I've missed something.

At a guess, you've made a late payment (possibly the first?) and lost the 0% promotion. The presence of a £12 late payment charge on your account will confirm this.

CSandL

I have been charged interest by Virgin, despite paying all balances in full every month. The reason appears to be that they send you a paper statement and then add other charges on for that month, thereby being able to charge you interest for amounts you did not owe.

I queried this and was told that I would be charged interest if I did not pay my account in full (I did). Funnily enough, I no longer have the card .

Wouldn't touch them with a barge pole!

Ducklet77

YorkshireBoy wrote: »

At a guess, you've made a late payment (possibly the first?) and lost the 0% promotion. The presence of a £12 late payment charge on your account will confirm this.

Thanks YB - I have just checked and it looks like you're right. Is there any way of getting them to reverse this?

nobby24

I took out a Virgin credit card and paid all my outstanding balances into it, overdraft, previous credit card etc. purely to get 0% interest to pay off these amounts. At the same time I opened a Halifax One credit card which was offering 0% on purchases for 9 months.

FannyHill

That's the best way have a separate 0% interest credit card just for new purchases.