Virgin CC - Change of Payment Date

tpurch

I am sure that Virgin are trying there best to make be default / miss payments or make late payments! a few months back they tried to put up the APR to 24.9% :eek:

When I took out the card it was at 15.9% APR with 9 months 0% on BT and Purchases. I MAXED the card over the 9 months. I am convinced that they have calculated that I can't get another card with sufficient limit to switch so they can do what they like as I haven't any choice but to pay them at a higher rate.

I phoned them and they said the under the T&Cs the rate was variable and that this new rate reflected the cost of admistering the account. Anyway after some time discussing I got them to agree they only put it up by 2%. Basically - I argued that the rate I was offered 15.9% wasn't a promo rate and they are still offering it 15.9% on there website and that the I accept that the T&C's I accepted stated that the rate was variable, but that it was out of order to hike it by almost 10% when I only took out the card because of the offer and wouldn't of spent on the card had I known that the APR was going to be 24.9%.

They agreed to change it to 17.9% but couldn't confirm how long it would apply.

So I looks like I am stuck paying Virgin 17.9%, and now to top it off they have just changed the payment date to a day before I get paid :mad:

:rolleyes: O'well looks like I will have to make 2 payments this month!


I want to switch cards but I think that the fact that I have MAXED out the my CC's is putting lenders off because I have been refused an application made to Captial One. I checked my credit report it looks good but I don't want to apply for another card because I don't want to many searches against my record in a short space of time. Does anyone know how long I should wait before applying for another card?

Moggles_2

I am sure that Virgin are trying there best to make me miss payments or make late payments!

Yes. Changing the payment date is another favourite wheeze. All MBNA cards are operated this way. It's a nice little earner for them.

Does anyone know how long I should wait before applying for another card?

How many new credit cards, apart from Capital One and presumably Virgin, have you applied for in the last year?

Individual circumstances vary, but your credit score is reduced if you exceed four applications in 12 months.

KerryGold

Four CC applications or four CREDIT applications?

Moggles_2

No more than four credit card applications in 12 months is reckoned to be the best rule of thumb, but it's wise to space out all credit applications - mobile phones for instance - as these can all affect your credit score.

tpurch

Moggles wrote:

How many new credit cards, apart from Capital One and presumably Virgin, have you applied for in the last year?

I also applied for IF Platium Card.

Moggles_2

I want to switch cards but I think that the fact that I have MAXED out my CC's is putting lenders off

If you have borrowed up to your credit limit on your other credit cards, this could certainly be a factor.

I don't want to apply for another card because I don't want too many searches against my record in a short space of time. Does anyone know how long I should wait before applying for another card?

Each search of your credit file leaves a footprint that drops off the report after 12 months. The search made by Virgin will soon disappear from view, leaving you with two fairly recent entrants, Intelligent Finance and Capital One. IMO, a maximum of one new credit card application every three months is, for most people, the best rule of thumb.

Meanwhile, I would try to reduce the balance on your Virgin card as much as possible, before making another credit card application.

dazed

tpurch wrote:

They agreed to change it to 17.9% but couldn't confirm how long it would apply.

So I looks like I am stuck paying Virgin 17.9%, and now to top it off they have just changed the payment date to a day before I get paid :mad:

Call them and they can change the payment date for you.

And they can review the rate again in a further 6 months for you and try and get it lower.