help me understand Virgin please?

oscar52

Shelldean wrote: »

Right so I send a polite letter asking for details of transaction/charges maybe drop in the fact we want to reclaim them? Do we send to address on statement or is there a secret/special one:p Address to a certain dept or just CS? And no need to send the £10 ... well i do like that part??
Should OH sign it or not (like in CCA requests where you are advised not to sign?)

Doesnt really matter if OH signs unless you may want to go down that route (but not heard of them lifting signatures - yet.

send it to Customer Advocates Office, MBNA Europe bank, chester business park, chester ch4 9qq

Shelldean

one last cheeky request ..... don't suppose you have a template letter?? I can only find SAR templates. I hate writing letter.


And I wish i could thank you more than once each time, you've been a fantastic help

oscar52

There are loads about - on this site and others. To be honest, with MBNA you dont really need a template letter, just a quick note.

Shelldean

oscar52 wrote: »

There are loads about - on this site and others. To be honest, with MBNA you dont really need a template letter, just a quick note.

Ok will do that thanks

hello4645

Oscar52 you say you work for mbna but what department due you work within? I take it from your post and your acknowledgements of phone "monkeys" that it may not be a customer contact role.

oscar52

hello4645 wrote: »

Oscar52 you say you work for mbna but what department due you work within? I take it from your post and your acknowledgements of phone "monkeys" that it may not be a customer contact role.

I am not sure if my role would be considered customer contact or not. Over the years I have worked for several departments. I dont really want to say where I work now - there are MBNA "spies" on here - managers and alike that come along just to see what is being written about the company - and at the moment, I need my job!!

CannyJock

Shelldean wrote: »

Also the woman in the phone said his mimimum payment was the interest PLUS £5 so if thats true his balance should go down by £5 even if the interest remained the same??? not increase?

Your monthly interest is 2.2071% per month you mention?

Their summary box states:

Minimum repayment

• Your balance (if this is less than £25); or
• whichever is the greater of: £25; or 1% of your statement balance before any default charges and interest (to which we'll then add the default charges and interest).

So they're taking the balance and calculating a 1% minimum repayment. Then adding on 2.2071% interest.

It's been a long-running thing with Virgin that their minimum payments don't actually cover their interest (which I make to be 29.95% APR!).

Your best bet is to transfer the balance elsewhere. Might be worth considering a long-LOB card if it'll take you a while to clear this balance. Barclaycard Simplicity might be worth looking at.

Shelldean

CannyJock wrote: »

Your monthly interest is 2.2071% per month you mention?

Their summary box states:


So they're taking the balance and calculating a 1% minimum repayment. Then adding on 2.2071% interest.

It's been a long-running thing with Virgin that their minimum payments don't actually cover their interest (which I make to be 29.95% APR!).

Your best bet is to transfer the balance elsewhere. Might be worth considering a long-LOB card if it'll take you a while to clear this balance. Barclaycard Simplicity might be worth looking at.

tried this in Dec OH applied for a couple of cards and was turned down so we're stuck with the damm card. But i'l tell him to check out the barclay card one, might be worth one last try???

oscar52

CannyJock wrote: »

Your monthly interest is 2.2071% per month you mention?

Their summary box states:


So they're taking the balance and calculating a 1% minimum repayment. Then adding on 2.2071% interest.

It's been a long-running thing with Virgin that their minimum payments don't actually cover their interest (which I make to be 29.95% APR!).

Your best bet is to transfer the balance elsewhere. Might be worth considering a long-LOB card if it'll take you a while to clear this balance. Barclaycard Simplicity might be worth looking at.

It is only some older accounts and all newer accounts that have this repayment schedule - others are still on interest and charges plus a nominal £5

CannyJock

oscar52 wrote: »

It is only some older accounts and all newer accounts that have this repayment schedule - others are still on interest and charges plus a nominal £5

Thought all the old account T&C's had been revised - any idea which ones haven't? I used to be on the old interest and charges plus £5 which from a stoozing point of view was excellent with 0% interest and £0 charges

Would be interested in knowing what other cards the OP has and which they applied for and were turned for. Has the OP mentioned yet if they've checked their credit report to see if there's anything there can be tidied up to improve their credit score?

EDIT: Has the OP checked that her wayward husband doesn't have any other credit cards that need tackled at the same time?