Virgin Refused to increase my credit!

bromatt

Ok, Had my Virgin card now for just over 16 months, opened it initally to transfere about 800 quid onto so I could pay it off gradually, the inital limit was 3500. So over the 16 months every month I pay a little off the balance (sometimes forgetting and getting stung with late payment fees - whoops) but anyway within 16 months its clear. Once i'd paid it off i then decided to use it for the odd thing (car service as it was badly timed just before payday!) so the balance goes back upto 400 quid then i get a call from Virgin wanting to review my account! I was out and about at the time so I asked if they could so it some other time, they refused and demanded i do it now and if i didnt they would reduce the limit to 500. I told them to do so.

A month later i need to buy some building materials (sorting out the garden) and thought - chuck it on the Card!! phone them up to up the limit to 1500 and got a text today saying cant do it, 500 is all you will get!

I work for a finance broker and have checked my score before and its always been fine, checked it today with Experian and its tip top, no lates, no slows, score was above average. Never been refused credit before, dip into the OD sometimes but always in credit a few days later. We dont have any other cards only the missus's car on finance and a b/l for my smart!!

Just seems like theres no ryme nor reason for it! :S Any ideas?

dmg24

If you work for a finance broker you should know that your credit score means nothing. Whilst your credit file may be clear, your reliability as a Virgin customer is not so good. How long ago was your last late payment?

izools

bromatt wrote: »

sometimes forgetting and getting stung with late payment fees

You have breached the terms of the account. This will prevent you from being eligible for limit increases.

Depending on the lenders internal lending policies, it may be 6, 12, or 18 months of flawless account conduct required before they consider you for a limit uplift

bromatt

dmg24 wrote: »

If you work for a finance broker you should know that your credit score means nothing. Whilst your credit file may be clear, your reliability as a Virgin customer is not so good. How long ago was your last late payment?

Probably within the last 6 months, was late by 2 days! As for the credit score, yeah I know it means diddly squat - i actually looked at the payment profiles. We've had people with 'good' scores and CCJ's before now!

I'm thinking the best thing to do is to ditch virgin and apply for another card somewhere else and this time setup a DD! :rotfl:

izools

bromatt wrote: »

Probably within the last 6 months, was late by 2 days! As for the credit score, yeah I know it means diddly squat - i actually looked at the payment profiles. We've had people with 'good' scores and CCJ's before now!

I'm thinking the best thing to do is to ditch virgin and apply for another card somewhere else and this time setup a DD! :rotfl:

The DD is a very good idea :beer:

bromatt

Amen to that!

Rupert_Bear

bromatt wrote: »

Ok, Had my Virgin card now for just over 16 months, opened it initally to transfere about 800 quid onto so I could pay it off gradually, the inital limit was 3500. So over the 16 months every month I pay a little off the balance (sometimes forgetting and getting stung with late payment fees - whoops) but anyway within 16 months its clear. Once i'd paid it off i then decided to use it for the odd thing (car service as it was badly timed just before payday!) so the balance goes back upto 400 quid then i get a call from Virgin wanting to review my account! I was out and about at the time so I asked if they could so it some other time, they refused and demanded i do it now and if i didnt they would reduce the limit to 500. I told them to do so.

A month later i need to buy some building materials (sorting out the garden) and thought - chuck it on the Card!! phone them up to up the limit to 1500 and got a text today saying cant do it, 500 is all you will get!

I work for a finance broker and have checked my score before and its always been fine, checked it today with Experian and its tip top, no lates, no slows, score was above average. Never been refused credit before, dip into the OD sometimes but always in credit a few days later. We dont have any other cards only the missus's car on finance and a b/l for my smart!!

Just seems like theres no ryme nor reason for it! :S Any ideas?

I have had a Virgin card for about 4 years and in all that time I have always received good promotional rates and the apr is about 11.8 on regular purchases.

With respect I dont think you have done yourself any favours by adopting a cavalier attitude when they phoned you and basically told them to reduce the limit to £500. You then decide you want an increase and you expect them just to increase it. Can you blame them for not granting your request with missed payments and a somewhat unhelpful attitude when they phoned you.

opinions4u

I might start running a book on trolls.

This is a fairly good one, so I'm offering odds of 4/6 troll and 11/10 genuine post.

Any takers?

[Deleted User]

i`ll have a fiver each way

mortgagenomore_2

Apply for an Egg card and then tell MBNA to go whistle!

sassy_one

I offer £10 each day