Virgin Credit Card Changing to MBNA Or NOT?

fozmcfc

Yes I logged in via the Virgin site the other day as well.

I've now got and activated my card via the MBNA site.

I would imagine there would need to be a period, to ensure, that everyone who is being swapped to an MBNA card, has received and activated it.

The portal is the same anyway (bank card services) it seems just with different branding, depending on which site you log in through.

splatt30

My virgin card was transferred to MBNA.

I used to do balance transfers all the time (as stoozes) but not for over a year since the fees went up & the durations down. Phoned MBNA to see if they could get closer to their new customer offer, but no attempt, so closed account (£19000 of unused credit doesn't look good). The phone operative told me about 4 times that I would be very welcome to apply as a new customer as I had a good record. Why not give my a better offer then & there then?

mr-manc

I've had the Virgin credit card for years with an £18k limit - most of the time using nearly all of that allowance.

For the past two years I've been bombarded by 0% balance transfer offers - and made the most if them - but now I've been moved to MBNA they've suddenly stopped.

Having read this thread, I'm really surprised how many MBNA-ers have had recent balance transfer offers so I'm wondering if I'm missing something or, since I have used the offers, whether they've decided enough is enough and pulled them.

Weird though, my credit score is great now.

monkey_shoulder

Like many others I have been recieving messages telling me that my Virgin Money Credit card is to become an MBNA credit card. I am reading, on this website, that some people get to stay with Virgin, some are moved to MBNA. Is this more than just the colour of the plastic?

You see I have a long relationship with Virgin, I used to work for a company that installed the audio visual equipment in the Megastores, I respect Richard Branson and this was one of the reasons I applied for a Virgin card in the first place.

So I thought, I'll just transfer my new MBNA balance back to Virgin, get a Virgin Credit Card again, and hey, I'll get 0% for a couple of years on the transfer!

No such luck. It says on Virgin's website:
"As the Virgin Balance Transfer Credit Card is issued by MBNA, you can't transfer a balance from another credit card issued by them."

So what's the difference? Is there a Virgin Credit Card that is not an MBNA card?

I'm baffled.

monkey_shoulder

pete39 wrote: »

I haven’t seen any mention in the previous posts that with the arrival of the new MBNA card we also get a new 16 digit number, this is most inconvenient for me and I am sure it will be for many others, there will many situations where various regular or irregular payment accounts have been set up where acredit card is used, PayPal for example.
Payments could be missed and penalties incurred.

I see what you mean, Pete, but I wouldn't worry. Paypal have been sending me messages that my credit card is about to expire, and I must register a new card with them as a matter of urgency, etc. etc. even though my Virgin Money Credit Card expiry date is October 2015.

They must have been alerted by MBNA that my card was to be "invalidated" early when my account will be moved to MBNA. No doubt you will receive similar warnings.

MS

Harold.Finch

monkey_shoulder wrote: »

So what's the difference? Is there a Virgin Credit Card that is not an MBNA card?

I'm baffled.

As the starter of this topic I have had some time to make a few inquiries and also contact Virgin themselves. This is what I believe is happening, although I'm happy to be proved wrong.

Firstly, I believe that MBNA have made a business decision to 'keep' the more profitable / bigger spending customers by transferring them to an MBNA branded card. The remaining customers are being 'transferred' to Virgin. I believe this will be a two stage process, in that initially MBNA will continue to administer these cards but eventually when the Virgin Money base in the north east is fully equipped, control will pass to Virgin themselves. I do not know why some card holders being transferred to Virgin have received new cards and numbers and some have not.

For those interested in balance transfers, I don't think this will be available until the final split when Virgin cards become true 'Virgins'.

Secondly, I can't believe that Virgin 'don't know' that the more desirable customers are staying at MBNA. I'm guessing that it is part of the deal that was worked out between them and the cost of the transferred database.

Finally, like a previous poster I had a lot of respect for the entrepreneurial spirit of Richard Branson. However, I think continuing with that feeling is misplaced as this is all now big business and the customers are just small pawns on the chess board of profit.

As I say, if anyone can correct my findings and assumptions, I'd be happy to know.

One thing is certain is that they have just lost two customers, my wife and I, although as indicated in my previous paragraph I don't think that will stop Mr Branson paying any of his outgoings on Necker Island.

StuC75

CPA's still 'tend' to work - as Ive found out recently.. My Ex was additional cardholder on Virgin Account, and used to pay her RAC membership on the card used for bills.. Long cancelled the cards and they re-issued new numbers (at the time) and new MBNA card is on the way now..

Checking my online account yesterday, and guess what this years renewal had gone through on it (under CPA),, despite the card number changing twice since that card was last used..

No drama regarding getting it refunded as still on talking terms.. But just as an observation regarding the comment below..

monkey_shoulder wrote: »

pete39 wrote: »

I haven’t seen any mention in the previous posts that with the arrival of the new MBNA card we also get a new 16 digit number, this is most inconvenient for me and I am sure it will be for many others, there will many situations where various regular or irregular payment accounts have been set up where acredit card is used, PayPal for example.
Payments could be missed and penalties incurred.

I see what you mean, Pete, but I wouldn't worry. Paypal have been sending me messages that my credit card is about to expire, and I must register a new card with them as a matter of urgency, etc. etc. even though my Virgin Money Credit Card expiry date is October 2015.

They must have been alerted by MBNA that my card was to be "invalidated" early when my account will be moved to MBNA. No doubt you will receive similar warnings.

MS

fozmcfc

mr-manc wrote: »

I've had the Virgin credit card for years with an £18k limit - most of the time using nearly all of that allowance.

For the past two years I've been bombarded by 0% balance transfer offers - and made the most if them - but now I've been moved to MBNA they've suddenly stopped.

Having read this thread, I'm really surprised how many MBNA-ers have had recent balance transfer offers so I'm wondering if I'm missing something or, since I have used the offers, whether they've decided enough is enough and pulled them.

Weird though, my credit score is great now.

As I said on a previous post, when I was told I was going to be switched to MBNA, I was offered a 0% balance transfer and money transfer deal, until Dec 2014, for all balance and money transfers completed by the 31st October 2013.

I had a £0 balance at the time.

I wasn't sure if they were offering it to all customers being transferred or not, so it seems not, going by your post.

As for Tillyboo post above, who now has 3 MBNA cards and is annoyed at a limit decrease.

Well I'd rather have smaller limits on cards, I wasn't using to anywhere near the limit or indeed close them cards down. Having too much credit available whether used or unused can hamper getting credit elsewhere.

Tesco closed my account down and Halifax are doing the same, because I haven't used it in over a year. I'm absolutely fine with this, as once this is reflected on my credit report, I shall be looking for a new 0% purchases card.

Why keep several cards open, that you aren't using at all, or near their limits. Use them for the deals, then ditch and switch, if you aren't getting repeat offers or benefits from using them.

MoneySEMiser

One thing I cant see mentioned.
The main (only) reason for my having a Virgin Credit card was to take advantage of the 10% discount on rail travel and the 5% discount on travel ( yes I know its cheaper to pay by debit card)
As I dont use it for other purposes it obviously makes sense that Virgin
have moved me to MBNA. Why MBNA agreed to that I'll never know as now I have a card that I wont be using. As Virgin's NEW credit card is to be issued by MBNA ( I Believe) they are both losing out.
Makes perfect sense.

digp

MoneySEMiser wrote: »

One thing I cant see mentioned.
The main (only) reason for my having a Virgin Credit card was to take advantage of the 10% discount on rail travel and the 5% discount on travel ( yes I know its cheaper to pay by debit card)
As I dont use it for other purposes it obviously makes sense that Virgin
have moved me to MBNA. Why MBNA agreed to that I'll never know as now I have a card that I wont be using. As Virgin's NEW credit card is to be issued by MBNA ( I Believe) they are both losing out.
Makes perfect sense.

I didn't know that [about the discount]. That is interesting. Is it still the case?

I had the Virgin MBNA card and long closed (when they decided to hike up the interest rate) and paid off yet I still got a letter saying I was being transferred to MBNA.

Also interesting to note that they are still providing MBNA rebranded cards!