Virgin Money CC-Can anyone help?

Yelsrud_2

can anyone offer advice please?
I recently took out a 0% card with 2.98% balance transfer fee to consolidate borrowing and worked out that paying £400 per month...could be debt free in14 months (well hopefully)
I was wary when I noticed that Virgin are part of MBNA group!
I was one day late in paying...I should have paid before 5pm instead of after and for that I have been charged £12 Plus £72.19 interest because I broke my terms and conditions.
On ringing them I was told that I was very lucky because they would reinstate me on the 0% (they wont do it for everyone!)but the £84.19 charges would stand because it was my error. When I said have you never heard of a gesture of good will and that I was not aware of the before 5pm and after 5pm rule. He said he would give me £25 as a gesture of good will!!
I am still shaking, how can they treat customers like this..I now have topay £59.19 for being one day late...I feel like cutting my nose off to spite my face and putting it on a loan..so they dont get my custom.
Plus I should mention that they have added insurance when we neve rasked for it and have taken 28 days looking into this!!
Is there anything I can do??

YorkshireBoy

Yelsrud wrote: »

On ringing them I was told that...they would reinstate me on the 0% ...I said have you never heard of a gesture of good will...

Classic!

I was not aware of the before 5pm and after 5pm rule.

It's clearly shown in your online secure area. Did you pay online?

Plus I should mention that they have added insurance when we neve rasked for it and have taken 28 days looking into this!!
Is there anything I can do??

On this point, register a formal complaint.

In general, set up a minimum payment direct debit and put an end to late payment charges, loss of promotional rates, and grief(!) once and for all. It's £25 during the intro period, so just make a payment for the other £375 by other means. However, why are you in a rush to repay something that's 0% for many more months? Why not pay them the £25 and put the rest in a savings account and make some money out of them instead?

Yelsrud_2

Thank you for your advice YorkshireBoy...when you see it written like that,of course it would make sense to save the money until the final payment...wish I had thought of that with other 0% cards I have had!!

fozmcfc

Hmm, so you paid later than you should have, yet it is their fault. They could have and would have been within their rights, to charge you interest and take you off 0%, but give you the 0% offer back. These are the terms you agreed to when signing up.

They then offer a gesture of goodwill by re-instating your 0% and THEN also give you £25 back as well.

Classic, customers screws up but then blames and bad mouths the company concerned, despite the fact the company has been MORE than generous in giving them back an offer and then some.

The only thing you have any right to complain about is the insurance aspect.

td_007

Yelsrud wrote: »

I am still shaking, how can they treat customers like this..I now have topay £59.19 for being one day late...I feel like cutting my nose off to spite my face and putting it on a loan..so they dont get my custom.

Look at it another way - it was your fault and yet they let you get away with the 0% rate and also a rebate in their fees all so that you can continue to owe them money! This calls for gratitude rather than "how can they treat customers like this"

Yelsrud wrote: »

Plus I should mention that they have added insurance when we neve rasked for it and have taken 28 days looking into this!!
Is there anything I can do??

You have a valid reason here and if Virgin are in breach they should refund the premium no doubt.

_Andy_

So (insurance issue aside) - your card provider have acted in accordance with the terms and conditions that you agreed to and you're angry with them. Despite the fact that you broke the terms of the credit agreement.
Seems a strange reaction to have.

oscar52

Have to say, if it was me you cam through to (and I do work there) you would have got the lot back.

taktikback

I have considerable sympathy with the poster actually, because I was in the same boat. A 2 day late payment cost me £12 default plus £273 interest plus loss of 0% deal for which I had paid £420 worth of handling fees. But that's MBNA for you...

I have challenged their conduct of course. Their final response just said it's in our T+Cs. I have complained to the ombudsman for 2 reasons

1 - A default charge of £12 is reasonable. £273 of interest charged retrospectively is not. How can it be reasonable to charge for a timeframe that was before the default.

2 - I paid considerable handling charges to secure the 0% deal. That was taken away. Hence I don't have the goods I have paid for - so the money should be refunded.

I found out about the default by checking on line - several days before the statement confirming it came through. It was a hell of a scramble to get the money together and pay it off, but I managed it over a 2 week period - so they bunged on another £80 interest in the meantime for my trouble.

Even thought the account is in dispute, they carry on like nothing's happened...I'm still bombarded with new low % offers and credit card cheques...!

..amazing... It's currently with an adjudicator...something needs to be done...I have plenty of other financial products with various companies..no-one else has ever been this unreasonable..

Yelsrud_2

Thank you Taktikback....I was beginning to feel a bit foolish!!
That was exactly the point I was trying to make..Fair enough the £12 charge but I have never been charged anything like this before with any of my previous credit card companies,ie the withdrawal of the 0% and the interest charges...I think that was what I was trying to get across (obviously badly!)
I hope you manage to sort out your dispute

jonnyb

taktikback wrote: »

I have considerable sympathy with the poster actually, because I was in the same boat. A 2 day late payment cost me £12 default plus £273 interest plus loss of 0% deal for which I had paid £420 worth of handling fees. But that's MBNA for you...

I have challenged their conduct of course. Their final response just said it's in our T+Cs. I have complained to the ombudsman for 2 reasons

1 - A default charge of £12 is reasonable. £273 of interest charged retrospectively is not. How can it be reasonable to charge for a timeframe that was before the default.

2 - I paid considerable handling charges to secure the 0% deal. That was taken away. Hence I don't have the goods I have paid for - so the money should be refunded.

I found out about the default by checking on line - several days before the statement confirming it came through. It was a hell of a scramble to get the money together and pay it off, but I managed it over a 2 week period - so they bunged on another £80 interest in the meantime for my trouble.

Even thought the account is in dispute, they carry on like nothing's happened...I'm still bombarded with new low % offers and credit card cheques...!

..amazing... It's currently with an adjudicator...something needs to be done...I have plenty of other financial products with various companies..no-one else has ever been this unreasonable..

I am trying to refrain from a tirade, as the site rules insist on politeness.

Ombudsman - no chance - the card company acted in accordance with their terms and conditions. They have those T&c's for this very reason - to make money out of you.

You screwed up, despite your alleged experience with all your other financial products. I currrently have 6 credit cards, and never miss a payment with any of them now they are all on DD. I am not perfect, and have missed one on a Barclaycard about 3 years ago.

Interest - they charge at the published rate for your agreement, from the minute the debt / transaction hits the card. So if you lose your 0% they are fully entitled to charge you from day 1 on the debt.

Rant over.