Quick Note - Virgin CC *first* minimum payment amount has changed

daniel_9

Hi,

Recently got a Virgin CC and rang them up to check my first payment amount. On their website it says £5 + balance transfer fees for the first payment, £25 after that each month. That was confirmed on the phone last week.

I now have my first statement and it is just a straight £25, rang them up again today to activate my card and check that was correct and they have now changed this amount giving you the option to pay the BT fees or just £25.

Hopefully someone will find this usefull, oh, and be prepaired for a hard sell when you activate your card...

YorkshireBoy

daniel_9 wrote: »

Recently got a Virgin CC and rang them up to check my first payment amount. On their website it says £5 + balance transfer fees for the first payment, £25 after that each month. That was confirmed on the phone last week.

I think you've misread the website information, and the CSA got it wrong (not unsurprisingly?).

It certainly used to be the case, but the Virgin (and all MBNA run cards'?) T&C's changed last September. They removed fees and charges from the calculation and replaced them with "default charges" (ie £12 late payment charges).

So, whereas it used to state:

interest + fees & charges + ppi + £5

it now states

interest + default charges + ppi + £5

Standard "in all cases it will be at least £25" remains (providing the balance is more than £25 or course).

daniel_9

Ahhhh, right - must admit it was a bit of a pain to find the info on their website, their "summary box" did seem a bit simple and I couldn't find the full terms and conditions.

The CSA was very vague as well, but I asked direct questions so assumed she was just nervous or something.