Virgin Credit Card

john10001

Does anyone know who is behind the Virgin Credit Card? You know like RBS is behind the Mint card, MBNA is behind the card Halfords do, and I think HSBC or Barclays are behind the M&S More Card. I'm hoping to switch an existing balance to a new card that has an issuer that I am not already with.

Daisy_Duck

It's an MBNA card

Fruit_and_Nut_Case

It's MBNA.

http://www.stoozing.com/cards.php

Edit: Beaten by Daisy Duck.

Daisy_Duck

Fruit_and_Nut_Case wrote: »

It's MBNA.

http://www.stoozing.com/cards.php

Edit: Beaten by Daisy Duck.

Ha- I was just going to go back and add that link in so you beat me there lol :rotfl:

Curr946

Defo MBNA, ive not long opened one. They will not allow you move funds from one MBNA issued card to another, regardless of the branding

john10001

Thanks guys. Looks like I may have to consider a different card now then.

I did have an IF "Intelligent Finance" card which I believe was Halifax Bank, but recent literature I received from them said "BOS" Bank of Scotland in the small print, does that make any difference as I believe it is HBOS right? "Halifax Bank of Scotland" all one company "mega bank"? And I think they were also bought by Lloyds recently as well during the financial crisis? So that will be one huge bank now "Lloyds-TSB-HBOS"?

If I write to Intelligent Finance and get them to officially close that account down I should hopefully then be able to open up a Halifax Mastercard instead of the Virgin one which is a similar deal I believe at 20 months 0%, just with slightly higher 3.5% fee.

Cheers,
John

john10001

If I can get a new card and transfer a balance to it, it would probably make more sense to transfer out the balance on my Halfords MBNA card because once that balance is clear they may send a new offer in the post then I can transfer a balance from another card to that. If however any new offer they make is only for 12 months I can just shut down that Halfords MBNA card and open a new Virgin MBNA card with a 20 month 0% offer instead. Makes sense.

Fruit_and_Nut_Case

john10001 wrote: »

"Lloyds-TSB-HBOS"

A.K.A. Lloyds Banking Group

john10001

Excellent. I've just got off the phone with Intelligent Finance who have confirmed that I actually closed the account with them in 2005 and have just recently paid off the balance. They're going to send me a confirmation letter in the post. I never realised that once you request that the account be closed or that you're rejecting new terms e.g. an interest rate hike that the card is actually closed there and then, and you're just essentially paying off the balance from then onwards. So this makes me wonder whether I would have been able to open a new Halifax or Lloyds banking group card the last 5 years without any issues even though I was still paying off a balance on a closed account issued by them?

Good news is I can definitely apply to open up a new one on the 20 or 22 month 0% offer. Of course they can still choose to accept or reject that, or not offer a very big credit limit so before I do that I am going to request a reduced credit limit on any of my existing cards that have lower balances and hopefully that will raise any potential limit I can then be offered on a new card and the amount I can shift to a lower rate.

YorkshireBoy

john10001 wrote: »

...before I do that I am going to request a reduced credit limit on any of my existing cards that have lower balances and hopefully that will raise any potential limit I can then be offered on a new card and the amount I can shift to a lower rate.

Two things to be mindful of:

1. Any change in limit may take 1-3 months to find it's way onto your credit report, and

2. Lower the limits too much and your used/available ratio may exceed their credit scoring criteria.

john10001

YorkshireBoy wrote: »

Two things to be mindful of:

1. Any change in limit may take 1-3 months to find it's way onto your credit report, and

2. Lower the limits too much and your used/available ratio may exceed their credit scoring criteria.

Thanks! I didn't think of that. Perhaps it is best not to do anything with credit limit then. I had read the odd post on here in the past though that seemed to be saying that reducing your present credit limit could help with the amount you obtain on a new card application.