Halve your virgin credit card rate!

ic198

For anyone who has a virgiin credit card (and maybe any credit card?!) this might be worth a try:-
I have had a virgin credit card for a year- I took it out for the free balance transfer after reading one of Martin's articles. I paid back the balance in full at the end of the interest-free period and haven't used the card since. Today I rang up to close the account, saying I wasn't using the card, and the offered to halve the interest rate from 15.94% to 7.9% for the life of the card if I kept it...!

dudleyboy

Really?? Thanks! My 0% runs out in May ( just 3 more payments of £300 to go :eek: ) ... then that's one more card down, one final one to go...

I, too, was planning on cancelling my card after the balance was cleared but it might be worth a shot if I leave it a couple of months... the APR on my Egg Money Card is lower, but still nowt wrong with having a couple of low APR cards at your disposal just for emergencies.

I'm assuming you took them up on the offer?

ic198

I said I'd think about it! After reading a couple of other threads on the credit card forum I'm thinking its worth asking if they'll go lower still?!

ic198

Short answer- no. 7.9% is the lowest they would go. However, they would give me another 6 months at 2.9% for balance transfers...

The_Boss

Maybe I get stuck with the wrong companies or phone operators - when I closed my Egg, Capital One, Llloyds TSB and NatWest accounts, they just closed them with no offers. I could have asked for one, but I didnt need it, though might have been interested if it was a low rate.

Gerradene

I phoned up to cancel my 30.5% APR Gold Card with capital one. I know what you're thinking but i used it to 'build my credit rating'. Anyway, the customer services bloke i spoke to seemed really nice and talked me into keeping the account for emergencies.

Two weeks later i phoned again to close the account after reading Martins tips on credit history etc. I was offered new APR rate of 15%. i asked why I was only told about this offer when i phoned up to close the account, apparently i should have recieved information in the post.

So i'm going to wait a couple of weeks and see if i can't get the 6.4% APR they offer on their platinum card.

Also very pleased to hear Virgin credit card are flexible with their APR - i will phone them later to 'close my account'

Gerradene

i just called up Virgin money and said i was thinking about closing the account because the APR was too high....

was offered 7.9% straight away!

This is a really good thing to do.....if you don't ask you don't get!

Thanks ic198

skipton

Is the Virgin card with MBNA bank?

vwman_3

skipton wrote:

Is the Virgin card with MBNA bank?

Yes it is.......

Viz_2

I called to close mine last week and wasn't offered anything. Although i can still sign into my virgin money online account.


I only called to close my Virgin card as when trying to close my Halifax One card in January they offered me 6.9% (for life) for any balance transfer upto Feb 10th (i think). :dance:

skipton

Do Virgin charge a BT fee?