Please Help ... Lost My Virgin 0% Interest Offer

nickp8

I got a Virgin CC with 0% on balance transfers offer till this October. I transferred £4.5k to it from my other card.

Last month I was late making my payment. I was charged a £12 late fee.

In this months statement I just noticed they had charged interest on my balance. I rang them up and was told as I had made a late payment I have lost my promotional 0% interest offer!

Is there anything I can do? I dont have the funds to pay off the whole balance at the moment.

All I can think off is trying to get another CC with 0% balance transfer and transferring the money over to them.

Please advise me.
Nickp.

chuckles1066

nickp8 wrote: »

I got a Virgin CC with 0% on balance transfers offer till this October. I transferred £4.5k to it from my other card.

Last month I was late making my payment. I was charged a £12 late fee.

In this months statement I just noticed they had charged interest on my balance. I rang them up and was told as I had made a late payment I have lost my promotional 0% interest offer!

Is there anything I can do?

Please advise me.
Nickp.

So you borrowed money at an interest free rate and then didn't even manage to make a token repayment of capital by the date requested?

What advice would you expect?

You made a mistake...........and whilst I appreciate that the current generation enjoy a world where nothing is ever their own fault and someone else is always to blame, I think you have to accept that the simple fact is........you messed up.

jamalfatty

Phone 0800 7831116 Mon-Fri 8am-7pm, if its a new account and first time it has happened they will probably reinstate it. And while your at it, set up a DD for minimum payment - you might get it reinstated once, but they definately will not do it a second time.

nickp8

I know I messed up. I have never missed a cc payment before in my life or have ever been overdrawn etc. I dont know how I managed to miss this payment as I usually always make my payments early.

LittleJ_2

I did the same with Virgin after missing a payment just before christmas - phoned up and they agreed to put me on a lower APR of around 6% and took off the £12 late fee, but not back to 0%. I ended up transferring to another card a couple of months later.

If you say that you realise you made a mistake but can they let you off just this once you might be ok. Crazy thing is, they keep sending me balance transfer cheques for 0% even tho they said they couldn;t put my original balance back to 0%! They even phoned me to offer me a 0% balance transfer and I said to the guy that I had an existing balance on my card which they wouldn't put back to 0%, but he didn't seem bothered.

Taadaa

This happened to me a while ago, I think it was Morgan Stanley though. The balance transfer fee took me over the limit, and that cancelled the interest deal I had. they wouldn't budge.

Of course they know they are offering a good deal that is likely to attract people with debt to repay. They are going to take advantage of every opportunity to make money.

jay78

It's always best to set up a direct debit for the minimum amount with 0% cards (if you didn't do this).