Advise for any with multiple Virgin 0% Rates

splatt30

I've previously posted that I had had confirmation from Virgin on several occasions that if you have several 0% promotional rates they will allocate payment to that which ends first.

However, having paid £2000 3 days before my statement date to cover the ending of one of mt promotions I was surprised to find an estimated interest of £27 on today's statement. I've just been on the phone and they tell me that payments are in fact allocated to that which STARTS first. This was a change imposed on them by the financial services industry and the very friendly chap on the end of phone agreed for those like myself who play them at their own game, juggling various interest free rates it makes no sense. He says it's in the new T&Cs but I can't find it which is why I emailed in the first place!!

I've sent them a further £2000 immediately to clear that balance that is now accruing interest but it means my stooze is down :-(

The way to do it in future I think will have to be to keep a note of not only when any promotions ends but also when it starts. If the one ending started after any others I guess rather than paying it just before the statement date you pay it after, that way that sum is no longer interest free, and therefore your payment will clear it.

Hope this helps others not to fall in the same trap.

YorkshireBoy

splatt30 wrote: »

I've just been on the phone and they tell me that payments are in fact allocated to that which STARTS first. This was a change imposed on them by the financial services industry and the very friendly chap on the end of phone agreed for those like myself who play them at their own game, juggling various interest free rates it makes no sense. He says it's in the new T&Cs but I can't find it which is why I emailed in the first place!!

https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8pt18gs_sax&mc=ECO-UK-33333-13233 (Condition 2g [2nd bullet])