Virgin Atlantic Black Card are giving me money !!!

as5606

Whilst I'm not complaining, I seem to have two credits on my statement this month which are in my favour.

The first is called "Interest Credit" and totals about £350

The second is called "Compensatory Interest" and total nearly £50

I have added up the lines of debits and taken off these two credits and it works out correctly to my statement total.

Why are they giving me £400???????

I don't really want to ring them

[Deleted User]

Adjustment for previous errors. Fairly common. Sounds like you've been charged £350 interest too much, and the £50 is a rough estimate on interest on interest.

Unless it's a mistake, in which case expect to it going the other way next month.

property.advert

Anything to do with the change in expensive debts being paid down first rather than the cheaper ones ?

paulwellerfan

why dont you want to phone them??

as5606

Thanks for both of your suggestions. I should of made it clear in my original post :- I always pay the balance off my card each month. I have never been charged interest and have never defaulted. My balance is always zero on the next statement. Looking like an error then?

as5606

paulwellerfan wrote: »

why dont you want to phone them??

I suppose you're right. There's nothing like free money in this world I suppose. Would of just loved a freebie :beer:

twist-and-shout

It was to do with a backdated fraud adjustment.

Somewhere between june 2008 and now you have either had a fraud or disputed transaction on your account and when you were due a refund it was calculated incorrectly.

They have now adjusted you account correctly but as you were overcharged they owe you an amount in interest and due to the mistake they are paying out compensation too.

as5606

twist-and-shout wrote: »

It was to do with a backdated fraud adjustment.

Somewhere between june 2008 and now you have either had a fraud or disputed transaction on your account and when you were due a refund it was calculated incorrectly.

They have now adjusted you account correctly but as you were overcharged they owe you an amount in interest and due to the mistake they are paying out compensation too.

Thank you. How do you know this? I have had a couple of times where fraud had happened. Once we had a online USA shop charging us for something and it was immediately refunded. Another time, we had a few flights put on our card. Again it was refunded. If it was short of 350 quid I'm sure I would of noticed? I suppose I will have ring them

twist-and-shout

I work for them.

There have been a quite a number of accounts affected.

With Fraud they never do the refunds straight away so there would have been a period of time where the fraud amount had been accruing interest - which would have been refunded as one lump sum of the balance that was fraud, under a backdated adjustment. This is what was calculated incorrectly or possibly calculated at the wrong interest rate.

They are not going to take it off you now you have it. MBNA have a team taking these calls at the moment but to get put through to them you will need to call mon-fri 9-5 but they will basically tell you what i said in my first post.

as5606

twist-and-shout wrote: »

I work for them.

There have been a quite a number of accounts affected.

With Fraud they never do the refunds straight away so there would have been a period of time where the fraud amount had been accruing interest - which would have been refunded as one lump sum of the balance that was fraud, under a backdated adjustment. This is what was calculated incorrectly or possibly calculated at the wrong interest rate.

They are not going to take it off you now you have it. MBNA have a team taking these calls at the moment but to get put through to them you will need to call mon-fri 9-5 but they will basically tell you what i said in my first post.

If that's true then that's fantastic news. Thank you for the insight. I'll ring on Monday to confirm but I'm sure you're right. :j