Can I cancel within the 14-day Period If a balance transfer has been made?

Dr_B_2

I was accepted for a Virgin Credit card a couple of days ago. I have been informed that a balance transfer has been made from my Barclaycard.

Unfortunately I was blinded by the various interest free benefits and didn't check the reviews. I've just done this and to say Virgin have the most shocking feedback I have ever seen is an understatement. Even the very few positive reviews look fake. I'm kicking myself because I had a long and bitter experience with the appalling Virgin Mobile and should have known better than to sign up with something with "Virgin" in the name,

https://uk.trustpilot.com/review/uk.virginmoney.com

I am now extremely worried in case the consequences of Virgin's reported incompetence and/or sharp practice affect me in future. (For example one reviewer claimed he discovered that Virgin had made nine searches on his account at random times for no apparent reason which reduced his good credit score)

Can I cancel this card as it is within the fourteen day period, even if the balance transfer has been completed? Would the balance automatically be returned to my Barclaycard?

How long would I have to wait for the closure of the account to register on my credit file and how badly would my chances of getting a different card be affected?

PeacefulWaters

You would have to repay the BT in full with any fees or interest.

What's done is done.

If they do anything to upset you just complain at the time.

Nebulous2

I also had a major falling out with virgin mobile.

Virgin credit cards have given me two cards with lots of their money interest-free that I'm making over 4% on. I've had no problems.

There are some quirks. Logging on isn't the easiest process in the world. Making an extra payment doesn't stop or reduce the direct debit. Otherwise though its all good.

I certainly wouldn't cancel now until you see how it goes.

Superscrooge

Have you checked the trustpilot reviews for all the other credit card companies?

I've just done a quick check on Barclaycard, Santander, HSBC, Tesco, Amex, Halifax and they all have more negative than positive reviews.

You can't rely on Trustpilot reviews. Dissatisfied customers are far more likely to leave a review than satisfied customers. Also some companies (often the dodgy ones in my experience) put in a lot of effort to get negative reviews removed, whereas larger or more reputable companies don't manipulate reviews.

[Deleted User]

(For example one reviewer claimed he discovered that Virgin had made nine searches on his account at random times for no apparent reason which reduced his good credit score)

Sorry but that seems unlikely!

I agree with what you say, Virgin haven't got a great reputation (sadly I'm with them for home Fibre and also my Business Mobile contract, wish I hadn't bothered! Nothing but trouble). HOWEVER. If they do something silly like search you 9 times and you haven't authorised it, then complain and then go to the FOS.

FOS aren't the quickest, but do eventually resolve things fairly IMO (I've had 3 complaints settled my way by them). You'll also get compo for the distress caused....

I think the reviewers 9 searches are either in relation to 'soft' searches (identity check, ongoing account management etc) OR they've been applying for everything under the sun, and Virgin have rightly credit searched them.

Note that some CRAs will report 'doubled up' searches - e.g. if Virgin search current address, previous 1 and previous 2, they'll add it up as 3 - but it really only counts as 1 (same company, same product, same day).

As others have said, now you've had the credit search & BT, I'd keep it for the intended purpose. Setup the direct debit and forget. If they mess anything up, whack some complaints in!

Dr_B_2

Nebulous2 wrote: »

I also had a major falling out with virgin mobile.

We're not alone.

When I was duped by Virgin over their infamous Unlimitacular scam - making a big song-and-dance about unlimited everything to entice rivals' customers away, then summarily cancelling the benefits once the big promotion was over even for existing customers - I persuaded all my close family and a few friends to switch. Let's just say that after they experienced Virgin Mobile's infamously Kafka-esque behaviour and notorious stonewalling my name is now mud as far as giving advice is concerned.

Virgin credit cards have given me two cards with lots of their money interest-free that I'm making over 4% on.

??? How did you do this? Do you mean you have some kind of cashback?

redpete

(For example one reviewer claimed he discovered that Virgin had made nine searches on his account at random times for no apparent reason which reduced his good credit score)

Which would in all likelihood make little practical difference to getting a loan or mortgage.