Virgin Credit Card Changing to MBNA Or NOT?

Harold.Finch

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My wife and I both hold individual Virgin credit cards. They were both obtained at the same time about five years ago and we both took advantage of a long 0% APR period following a free super balance transfer. Those were the days!

A couple of months ago my wife received a letter from Virgin stating that she would soon be changed over to Virgin's own credit card as Virgin would be moving all credit card accounts from MBNA to their own service. She was informed that nothing, including on line access, would change. As far as she can tell this hasn't happened yet.

Today I received a letter from Virgin stating that in a few weeks my credit card would be provided by MBNA directly. The only thing that would change would be the MBNA address for on-line log in, everything would be the same.

Does anyone know if Virgin are splitting the card base or if there has been a change of policy since my wife's letter a few months ago?

dazza.mk

Don't know details but this was the Virgin press release:

http://www.virgin.com/money/news/virgin-money-announce-1-billion-mbna-deal

guesswho2000

This has been on the cards for a while. Virgin Money have been expanding their banking arm, so it makes sense that they'll want to issue their own cards, rather than be underwritten by MBNA indefinitely.

As for the login changing, if it's still an MBNA card, it'll still be via bankcardservices, surely? My long closed Virgin Money card still appears in the list with my MBNA Platinum & American Airlines AAdvantage cards.

mrpsmith

My understanding is that Virgin are buying some - not all - of the Virgin branded MBNA card base. The remainder (such as yours) will remain with MBNA, hence why your card is changing.

I believe the change is happening towards the end of this year/beginning of 2014.

InsideInsurance

Most outside of the deal will not have the details to be able to say why some cards are changing and others arent.

I see that if you apply for a VS card today you get the Visa underwritten by Virgin but the AmEx is still with MBNA

It could have been a change in the contract between MBNA and Virgin that occured between the two of you getting your cards or it could be that Virgin has said it will buy a proportion of the book and the criteria for splitting them (unlikely to be purely random) is resulting in one staying and one going.

I've dealt with affinity deals where the underwriter owns the customer and ones where the affinity partner owns them. When the agreement breaks down then the brand or underwriter changes.

OllyM

InsideInsurance wrote: »

I see that if you apply for a VS card today you get the Visa underwritten by Virgin but the AmEx is still with MBNA

Really?

The Virgin Atlantic Credit Cards are issued by MBNA Europe Bank Limited.

The "Virgin Atlantic White American Express® Credit Card from MBNA" text is probably standard branding guidance - all the MBNA Visa/Amex duo accounts are described in the same way.

Harold.Finch

mrpsmith wrote: »

My understanding is that Virgin are buying some - not all - of the Virgin branded MBNA card base. The remainder (such as yours) will remain with MBNA, hence why your card is changing.

Thanks to all for replying. I think this must be what is happening.

I have no way of knowing how they decided which cards to transfer to their own bank and which to leave with MBNA.

Maybe they don't see me as such a good customer as my wife. Perish the thought that I haven't spent enough on shoes and handbags :rotfl:

bengal-stripe

Harold.Finch wrote: »

I have no way of knowing how they decided which cards to transfer to their own bank and which to leave with MBNA.

The same thing happened a few years ago when Santander took over the (MBNA administrated) Abbey Credit Card. Many (or most) accounts were transferred to Santander, while others (like my card) stayed with MBNA.

I always liked the idea that MBNA did not want me to go.

InsideInsurance

OllyM wrote: »

Really?



The "Virgin Atlantic White American Express® Credit Card from MBNA" text is probably standard branding guidance - all the MBNA Visa/Amex duo accounts are described in the same way.

If you look on the Visa component of it there is no mention of MBNA only on the AmEx one.

jamesml

My Virgin credit card is going to Virgin - I wonder what the criteria was like?! I never use my Virgin card any more, I wonder if that means Virgin wanted me or MBNA didn't want me?!

davidmaiden18183

jamesml wrote: »

My Virgin credit card is going to Virgin - I wonder what the criteria was like?! I never use my Virgin card any more, I wonder if that means Virgin wanted me or MBNA didn't want me?!

i'm in the same boat, there moving me to virgin, dont use the card any more. I kept it open as I heard thyy gave good special offers.