VIRGIN CC - DROPPED MY APR!!!! Why????

lupogti

The last couple of years Virgin have really stiffed me increasing my APR from 15.9% to 18.9%, to 24.9% and then to a whopping 29.9%.

I opened a letter yesterday to say my rate was now 15.9% !!!!

Has anyone else received similar letters from Virgin?

The only thing I can put it down to is that I have cleared 1k off it in the last 2 months and have 4k to go. Do you think they have reduced the APR to encourage me to spend on the card again? Or is the reduction a ploy for Xmas spending??

Any thoughts behind it or should I just enjoy it for the next 6 months and stop looking a gifthorse in the mouth.!!

Thanks G

cifpower

Just rejoice and be grateful I say!

BenL

Claim Claim Claim! They cannot go around doing this, what are they thinking. This must breach every consumer credit law ever crea......... aahhhhhh ;-)

Woop Woop, yeah just enjoy it. Maybe they were worried you were putting in a good effort and were ready for moving to a 0% balance transfer deal.

Is this your next move?

binaryuniverse

If it makes you feel any better the average rate over all my cards is just 3.87%.

ElkyElky

Yah, who cares about why they reduced it, just enjoy it before they increase it again.

nickmack

lupogti wrote: »

The last couple of years Virgin have really stiffed me increasing my APR from 15.9% to 18.9%, to 24.9% and then to a whopping 29.9%.

I opened a letter yesterday to say my rate was now 15.9% !!!!

Has anyone else received similar letters from Virgin?

The only thing I can put it down to is that I have cleared 1k off it in the last 2 months and have 4k to go. Do you think they have reduced the APR to encourage me to spend on the card again? Or is the reduction a ploy for Xmas spending??

My guess would be they are trying to get you to spend on it. The timing just before Xmas probably isn't coincidental.

smarties84

Snap - my partners virgin card apr is now o.9% it was alot more than that!

cos_2

I'm with the Xmas crowd here, my friend. To me it's an obvious ploy to encourage you to melt the card.

Resist at all costs:santa2:

Spirit_2

Do not mean to hijack - but paid total £5073 balance off Virgin - it cleared today but have a new balance of £68 - why would this happen?

binaryuniverse

Trailing interest. The interest you gained from the last statement date to the day you paid it off. You just have to pay that off now and it'll be clear.

Spirit_2

That explains it - I have paid it off tonight by debit card - will I now get another trailing interest charge?

I want rid of this card!