Virgin CC - late payment and 0% withdrawn

Robert_Sterling

YorkshireBoy wrote: »

£2,900 demands a minimum payment of only £29 per month. Why on earth didn't you set up a direct debit for such a small amount, and pay any extra by other means?
Good luck.

I could not agree more.

Adem_3

I signed up for a Virgin card in August with 9 months interest free on BT. I received my statement this month which said I’d not made my minimum payment, I’d been charged a late fee (£12) and that I’d also been charged interest (£28.48), and that my 0% interest free period had been taken away which should’ve been going until May 2010.

My problem was that I believed I’d paid more than my minimum payment, £65 more in fact and so I got onto the phone to Virgin today, went on hold for about 10 minutes, and then got the answer that I’d paid too early!

The statements come on the 15th of each month, and you are asked to pay your minimum payment by the around the 3rd day of the following month, and anything else you pay in outside of these dates just goes towards repaying your debt and not counting as a minimum payment! So basically I have a 2 week window to make the minimum payment which sounds absolutely stupid.


Anyway the point is that I managed to get the 0% offer reinstated, I’ve recouped the £28.48 interest, and my mind is a little more at ease but this has made me realise that I need to get rid of as much of my credit card debt by that May 2010 deadline to avoid massive hassle when I have to start paying interest on top


I couldn’t get the £12 late fee back because in their eyes I didn't make the minimum payment (although paid earlier), but I will settle for that and have now set up a direct debit for the minimum payment to avoid this happening again, so I’m safe until May.

Moggles_2

Adem wrote: »

I signed up for a Virgin card in August with 9 months interest free on BT. I received my statement this month which said I’d not made my minimum payment ... I believed I’d paid more than my minimum payment, £65 more in fact and so I got onto the phone to Virgin today and got the answer that I’d paid too early!... I couldn’t get the £12 late fee back because in their eyes I didn't make the minimum payment (although paid earlier)...

This condition is true of all credit cards, not just Virgin.

Congratulations on getting the interest refunded and, more importantly, your 0% deal reinstated.
:beer:

vet8

TFD wrote: »

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.

You miss the point, it is having the money in the RIGHT account.

Sometimes I pay the CC bill from our company account, sometimes from mine and sometimes from my OH's. It all depends which account has enough money in it when the bill is due.

The situation is slightly better now that banks have dragged themselves into the 20th century and can move money in one day, but when it took 4 days or more to do an internet transfer, by the time my company account had been paid by my employer, then I had to move the money to my personal account that could take over 2 weeks.

It is still not great because my company account is with Lloyds who do not do faster payments so I still have to allow virtually a week to move money from that account to mine. DDs are too risky when you cannot guarantee the money being in the correct account on the due date.

TFD_2

vet8 wrote: »

You miss the point, it is having the money in the RIGHT account.

Sometimes I pay the CC bill from our company account, sometimes from mine and sometimes from my OH's. It all depends which account has enough money in it when the bill is due.

The situation is slightly better now that banks have dragged themselves into the 20th century and can move money in one day, but when it took 4 days or more to do an internet transfer, by the time my company account had been paid by my employer, then I had to move the money to my personal account that could take over 2 weeks.

It is still not great because my company account is with Lloyds who do not do faster payments so I still have to allow virtually a week to move money from that account to mine. DDs are too risky when you cannot guarantee the money being in the correct account on the due date.

BACS payment is 2 working days (3 with some banks). As a DD will clear 2 or 3 days later than you have to make a telephone / online payment, then you still have the same amount of time.