credit limit increase while 0% interest offer still running

alexto

Hi all,

I tried contacting VirginMoney about this in vain (*) so I'm asking here to see if anyone knows -- I'm well aware nobody can speak for Virgin though.

I have a VirginMoney credic card which still has about 1 year left of 0% interest for purchases. Virgin just proposed to increase my credit limit (I didn't request it). Let's say the card had £5000 initial limit and Virgin proposed to raise it to £7500. Does anyone know (from experience or otherwise) the answer to the following:

(1) If I agree to this credit limit increase, will the 0% interest offer be cancelled?

(2) If the answer above is no, will the 0% interest offer apply only to £5000 out of £7500 or will it apply to the new limit of £7500 for the remaining year?

(3) Assume the 0% interest offer will remain in force if a credit limit increase is applied but that it only applies to £5000. and then assume the balance befpore limit increase was £4000 and that I make a purchase of £500 after the limit is increased, bringing the balance to £4500. Will this purchase be seen as part of the 0% offer or not?

Many thanks in advance!


(*) several times in fact: the phone connection is bad and the rep claim they can't hear me (after taking ages to get to talk to someone) and the "send a message" feature from my online account craps out with an error message ... not sure if this is all on purpose. My phone and internet work fine.

[Deleted User]

1. No

2. Ask Virgin

3. Again, ask Virgin.

MallyGirl

(1) If I agree to this credit limit increase, will the 0% interest offer be cancelled?

No - that won't happen

The answers to the rest depend on the T&Cs of the promo offer. Some cards only 0% on purchases in the first x months so unrelated to the credit limit really. If it is a standard one then the 0% applies to the whole balance during the length of the promo deal.

[Deleted User]

1) No
2) No and yes.
3) Yes if the promo period is still open

Ben8282

1. No. Why should it?
2. Purchases offer will apply to entire new limit.
3. Not applicable

JessabellaT

1. Most likely not, probably should check with them just in case though.
2 & 3. Check with them directly

HampshireH

Hi

I was in the same situation with similar limits.

Promotional period remained the same (in my case 2020)

Promotional 0% applied to all purchases within the promotional period up to new limit

Don't really understand q3 as you would still be spending within your original limit anyway.

But t's and cs apply. The letter they sent you should outline this and what terms the increase is offered on