Minimum Payment on Virgin Card

Altarf

I noticed in various messages that people have referred to the minimum payment on the Virgin card as £5. The T&Cs that accompanied my application state 2.25%.

Have they changed or do they only take £5?

Galstonian

IME MBNA cards usually have a %age or £5 (whichever is lower) plus any interest, fees or charges. I'd check again, if it is definitely a straight % I'd be very surprised, that's a first.

roaming_rhino

Ive got a virgin credit card with a balance of 8k on it and yes they do ask for a £5 minimum payment

cheers

Reaper

Altarf wrote:

I noticed in various messages that people have referred to the minimum payment on the Virgin card as £5. The T&Cs that accompanied my application state 2.25%.

I think what is confusing you is this bit in their T&C:

The lesser of:
• 2.25% of your balance (min. £5) or
• charges for Payment Protection Cover plus interest and fees, plus £5 or
• your balance, if it's under £5.

(Bolding added by me). In other words the 2nd option (£5pm) applies because that is the lesser of the three.