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MBNA Virgin Atlantic Card - extortion???????

Mommy_Dearest · 2009-11-11 14:42:01

I'm hoping that somebody can help me understand what has just happened. I got this card to put loyalty points on the Virgin Flying Club. The interest rate's high (17.9% APR) but the plan is to repay each month in full. I made a stupid mistake last month, and inadvertently paid the total on the front page of the statement,…

Comments

izools Posts: 7,513 Forumite

12 November 2009 at 11:06PM

This should be considered in two simple rules in regard to all credit cards:

1) Interest is calculated daily but applied monthly
2) For interest to be £0 the balance must be cleared in full for at least two consecutive months

Same applies to all credit cards on the market

Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48

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