Help Can Virgin Do This ?

IrishScot_Connection

I have been with Virgin 18 months first 12 months 0% they have put my rate up to 37% APR when i rang and complained it took less then 3 minutes to have the rate reduced to 27% - when i asked why I was not paying 16.5% as before they said the rate is variable.

Why this big hike and why me ??? Does this mean something has gone wrong with my Credit Rating - Virgin wont give me any answers - just that they will reconsider the % in 3 months

Suggestions on a postcard please !!

dhassen

Yes they can do it, unfortunately. Like they say, it's variable APR... tonnes of posts on here about APRs rising when 0% deals end. It's not personal! They may reconsider in 3 months, but the best way to get the APR reduced within a couple of seconds is to transfer the balance to a new 0% card - if you can get one....

TighterThanTwoCoatsOfPain

Yes they can do whatever they fancy being variable as mentioned above..

However, i would push them a little. Not sure if the below link will work or not, but since the 1st Jan they have commited to giving reasons for rate changes etc.. (how i read it when i scanned it a few weeks ago anyway!)

https://www.mbna.co.uk/principles_sp/principles_vm.html