Virgin Cc and Money transfers

Slemish

Hi
completely confused and need some help in understanding what is and how they calculate their interest charges.

I have a Virgin Cc that I regularly use and pay off every month so I do not accrue interest. Recently they had a promotion on of 0% interest on money transfers so I used this opportunity to have a £2k injection.

I don't know if this next bit of info has anything to do with it but I missed a payment by 1 day in Oct, ended up paying interest and then November seen a lag of interest too but I paid the retail spending off in full and left my £2k there. Now in Dec I have more interest charges and Virgin keep telling me that this is due to me spending on credit card but not having paid balance off in full - I have no plans to pay credit card off in full as I want to use the 12 months free interest they gave me on my cash transfer. They say the only way to not have to pay interest is not buy anything on credit card!

I have other cards that I will use now but I would appreciate if someone could explain to me what is happening as I still can't get if.

Thanks for any replies
Slemish

CLAPTON

Slemish wrote: »

Hi
completely confused and need some help in understanding what is and how they calculate their interest charges.

I have a Virgin Cc that I regularly use and pay off every month so I do not accrue interest. Recently they had a promotion on of 0% interest on money transfers so I used this opportunity to have a £2k injection.

I don't know if this next bit of info has anything to do with it but I missed a payment by 1 day in Oct, ended up paying interest and then November seen a lag of interest too but I paid the retail spending off in full and left my £2k there. Now in Dec I have more interest charges and Virgin keep telling me that this is due to me spending on credit card but not having paid balance off in full - I have no plans to pay credit card off in full as I want to use the 12 months free interest they gave me on my cash transfer. They say the only way to not have to pay interest is not buy anything on credit card!

I have other cards that I will use now but I would appreciate if someone could explain to me what is happening as I still can't get if.

Thanks for any replies
Slemish

are you sure you didn't lose you 0% deal due to the late payment?


anyway purchases are in generally only interest free if you pay the entire monthly balance each month
clearly you are not doing so


lesson is don't mix ordinary spending with 0% deals


get two cards

YorkshireBoy

It's never a good idea to mix BTs (or MTs in your case) and purchases on the same card, as you now know.


You only enjoy up to, say, 56 days interest free credit on your purchases if you clear your full balance each month. Condition 3.7 (of the current T&Cs on the Virgin website) explains this. Your personal T&Cs may differ in condition number but they'll say the same thing.


Re your missed payment, have you checked that they haven't withdrawn the promotional rate on the MT?...they usually do for such a breach!