Virgin Credit Card Charging Interest?

shie6523

Hi,

I have recently transferred a balance to Virgin which has 0% until November 2007. Last month I made a payment of £50 via internet banking a day before the due date which I accept is cutting it a bit fine.

I have got my statement for this month and have been charged a late pament fee of £12 which I accept.

I also seem to have been charged interest at £33.43 for this month. The statement also says that the estimated interest next month will be £33.25?

Can anyone explain what is going on here?

Have I been charged interest because of the late payment? does the late payment affect the 0% for the BT?

Any response would be most appreciated.

Regards

Darren.

Paulus99

Hi
I think you probably broke the terms of the interest free balance transfer by missing a payment. So you will be charged interest from now on

jonnyb

yes, you broke the terms - they say that if you miss a payment the 0% deal lapses, hence the interest charges.

maybe try a quick apologetic call to them, asking for the 0% to be re-instated, and if you are successful ask for a DD to be set up to cover the min balance every month.

currentmember

jonnyb wrote: »

yes, you broke the terms - they say that if you miss a payment the 0% deal lapses, hence the interest charges.

maybe try a quick apologetic call to them, asking for the 0% to be re-instated, and if you are successful ask for a DD to be set up to cover the min balance every month.

As people know, I work there. It is right you were late paying. If you make a payment form your bank it takes usually around 2 - 3 days. If you make it on their online payment, it takes 1 or 2 days.

Phone them and explain you got confused and thooght it would clear in time. 99.9% of the time, they refund the fee, refund the interest and put you back on the promo rate. They will alos give you a lecture on paying on time, on the time taken for each method. Probably will also say noi more refunds in future now you know what you are doing.