Virgin card

debt.b.gone

Hi all.
just wondering if anyone has any advice.

we are trying our best to get rid of a balane on a virgin cc. we overpaid as much as we could last month and were really excited to think the min payment may go down.

I have logged on today to see the statement and the min payment is £14 more than normal?? how is this??

Thanks for any replies.

Fairzo

This is stating the obvious but either the balance has increased, the minimum payment percentage has risen or there's a charge for something. What are last months and this months payments?

debt.b.gone

Hi,

balance has actually reduced by £200.
Min pay last month was £76.09
Min payment this month is now £90.46

No charges on account....so im guessing by process of elimination its the min pay percentage that has risen...but can they do this as the please?

CannyJock

debt.b.gone wrote: »

No charges on account....so im guessing by process of elimination its the min pay percentage that has risen...but can they do this as the please?

Sounds curious. Their current summary box details the minimum repayment as:

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).


Sounds like it's worth phoning their CS people and asking them to clarify. Or if you're making overpayments anyway then maybe an academic exercise.

Cash_Flow

debt.b.gone wrote: »

Hi all.
just wondering if anyone has any advice.

we are trying our best to get rid of a balane on a virgin cc. we overpaid as much as we could last month and were really excited to think the min payment may go down.

I have logged on today to see the statement and the min payment is £14 more than normal?? how is this??

Thanks for any replies.

Can't you use this.........


20K 2010 challenge - £1827.02 / 20,000
:money:

debt.b.gone

the £1827.02 / £20000 is just a running total of what we have paid off debt so far since december 09. Its not in the bank.

I have sent them a message through their emailing system asking them to identify the min payment on the account and asking if they could just explain why the min payment is more this month.