Virgin CC - late payment and 0% withdrawn

kindofaverage

hi all - to those who have helped me b4 a great thank you!!! (YB and Moggles, to name but a few). I have been successul in obtaining this card but I read some where that you could get virgin cheques and have them paid into your account - with no charge for this cash/credit? am I correct please. and are these cheques only available on line?

Moggles_2

kindofaverage wrote: »

hi all - to those who have helped me b4 a great thank you! (YB and Moggles, to name but a few).

It's nice to know our help's appreciated.

I have been successful in obtaining this card but I read somewhere that you could get Virgin cheques and have them paid into your account - with no charge for this cash/credit? Am I correct please. and are these cheques only available on line?

Virgin periodically issues credit card cheques, which can be paid directly into your current account. Unfortunately, the cheques cannot be ordered and you never know when the next ones will turn up in the post.
Caution: check Ts & Cs carefully, as these vary with each promotion.

You can request a money transfer by phone (or online) to your bank account at any time. Normally, you're charged BT rates. Telephone's best, IMO, so you can check the interest rate/transfer fee that will apply.

Virgin allows you to borrow up to 95% of your credit limit. The money arrives in your bank account in about 6 days, so faster than a cheque

katie07

YorkshireBoy wrote: »

No, don't leave it! You've nothing to lose, and £17.50 to gain.

I ring the number I gave earlier at least once or twice a month (chasing 0% offers), most recently only yesterday, and never have to wait for long after I enter my card details and DOB into the automated system.

Ok, thanks. I'll give that a shot - fingers crossed!

Thanks again everyone.

MaxTheDog_2

A similar thing happened to me a year ago, paid late due to not having DD setup and extended holiday, they removed the 0%, charged me a late payment fee and interest for that month, I phoned them up, got the 0% back and they refunded 50% of the interest.

The interest from the late payment month seemed to be just added onto my balance at 0% as every month after that until the promo rate finished I never paid a penny in interest.

taktikback

A similar thing happened to me a year ago!...It was MBNA (Virgin is MBNA). They wouldn't re-instate the 0% they charged retrospective interest and a late charge.

I've cut the cards up...so should you - The more business that these parasites lose the better - get a card from the Co-op or someone with some ethical standards...

Christmas time is MBNA's favourite time for defaulting customer's because it's harder to recover the situation over periods with bank holidays...more interest for them

TFD_2

taktikback wrote: »

A similar thing happened to me a year ago!...It was MBNA (Virgin is MBNA). They wouldn't re-instate the 0% they charged retrospective interest and a late charge.

I've cut the cards up...so should you - The more business that these parasites lose the better - get a card from the Co-op or someone with some ethical standards...

Christmas time is MBNA's favourite time for defaulting customer's because it's harder to recover the situation over periods with bank holidays...more interest for them

0% BT's aren't profitable for credit card companies. They offer these knowing that some people will default, and end up paying interest.

If you want to be able to continue to enjoy these offers, then you have to be careful to keep to their T&C's!

I don't think it's down to their lack of ethics, it's down to business.

YorkshireBoy

taktikback wrote: »

get a card from the Co-op or someone with some ethical standards...

Are you familiar with the Co-op's credit card T&Cs? If you think they won't, upon you breaching your T&Cs, withdraw a promotional rate, backdate interest, charge interest going forward, charge a £12 fee, and mark your credit file accordingly you're sadly mistaken!

Christmas time is MBNA's favourite time for defaulting customer's because it's harder to recover the situation over periods with bank holidays...more interest for them

You're still smarting aren't you! They tell me the pain, and the paranoia, eases with the passage of time.

vet8

bengal-stripe wrote: »

Direct Debits might fluctuate slightly, the day they are taken out: one month it might be the 5th, next month it might be the 7th. You will be advised at least two weeks before of the date due: "will be taken from your nominated account on or after November 6th".

Just have the money in place!

Yes fine in theory!!.

My MBNA card used to have a "money must be received by date" of the 16th of the month, it has crept steadily forward and now it is the 3rd or sometimes a bit earlier. I have not set up a DD because my income does not arrive in one nice handy salary at the end of the month, but I am so pleased I did not, because if I had they would be trying to take the money from my account now before I am paid.

DDs are fine for those on nice, fat, regular salaries, but for all of us who are not, they do not work. If you do not have enough money in the bank you are charged £38 for bouncing the DD. Great economising!

Degenerate

vet8 wrote: »

DDs are fine for those on nice, fat, regular salaries, but for all of us who are not, they do not work. If you do not have enough money in the bank you are charged £38 for bouncing the DD. Great economising!

The point of DDs is to avoid losing out due to overlooking things. If you don't have the money to cover your minimum payments on time, you're screwed anyway.

TFD_2

vet8 wrote: »

Yes fine in theory!!.

My MBNA card used to have a "money must be received by date" of the 16th of the month, it has crept steadily forward and now it is the 3rd or sometimes a bit earlier. I have not set up a DD because my income does not arrive in one nice handy salary at the end of the month, but I am so pleased I did not, because if I had they would be trying to take the money from my account now before I am paid.

DDs are fine for those on nice, fat, regular salaries, but for all of us who are not, they do not work. If you do not have enough money in the bank you are charged £38 for bouncing the DD. Great economising!

But surely if you are making the minimum payments, it's just a case of making sure the money is in the account in time for the DD. It makes no difference how you pay it, you either have the cash or not.