Virgin Money Current Account

RG2015

Archi_Bald said:

RG2015 said:

RG2015 said:

Eco_Miser said:

pafpcg said:

A couple of years ago, Clydesdale decided to buy "Virgin Money" (the savings outfit) and rebrand the merged company as "Virgin Money" (paying the bearded one a large sum of money to use the Virgin name). 

That's one way of putting it. I prefer to say that Virgin Money took over Clydesdale by swapping its shares for CYBG ones, then renaming CYBG Plc (the owner of Clydesdale Bank) as Virgin Money Plc, while the Virgin Money Bank (the former Northern Rock) became a trading name of Clydesdale Bank

And just to further muddy the waters the account appears on my Experian and TransUnion credit reports as Yorkshire Bank.

And to complete the full house, searches reported on Experian and Credit Karma were by Clydesdale Bank.

My Credit Karma report shows absolutely no searches by YB / CB or by VM. Only the accounts show, as CB accounts.

One hard search on Experian and three soft searches on Credit Karma (two AML and one affordability).

Archi_Bald

RG2015 said:

Archi_Bald said:

RG2015 said:

RG2015 said:

Eco_Miser said:

pafpcg said:

A couple of years ago, Clydesdale decided to buy "Virgin Money" (the savings outfit) and rebrand the merged company as "Virgin Money" (paying the bearded one a large sum of money to use the Virgin name). 

That's one way of putting it. I prefer to say that Virgin Money took over Clydesdale by swapping its shares for CYBG ones, then renaming CYBG Plc (the owner of Clydesdale Bank) as Virgin Money Plc, while the Virgin Money Bank (the former Northern Rock) became a trading name of Clydesdale Bank

And just to further muddy the waters the account appears on my Experian and TransUnion credit reports as Yorkshire Bank.

And to complete the full house, searches reported on Experian and Credit Karma were by Clydesdale Bank.

My Credit Karma report shows absolutely no searches by YB / CB or by VM. Only the accounts show, as CB accounts.

One hard search on Experian and three soft searches on Credit Karma (two AML and one affordability).

I'm not paying for Experian so can't see what searches they have. On Credit Karma, I have neither hard nor soft searches from YB / CB or VM. Just nothing. My (meaningless, I know) Credit Karma score has hardly moved since this time last year, despite me having applied for plenty of current accounts, some with O/D facility, and credit cards, and my available credit having gone up substantially. It seems all a bit of a black art.

ischris85

Archi_Bald said:

RG2015 said:

Archi_Bald said:

RG2015 said:

RG2015 said:

Eco_Miser said:

pafpcg said:

A couple of years ago, Clydesdale decided to buy "Virgin Money" (the savings outfit) and rebrand the merged company as "Virgin Money" (paying the bearded one a large sum of money to use the Virgin name). 

That's one way of putting it. I prefer to say that Virgin Money took over Clydesdale by swapping its shares for CYBG ones, then renaming CYBG Plc (the owner of Clydesdale Bank) as Virgin Money Plc, while the Virgin Money Bank (the former Northern Rock) became a trading name of Clydesdale Bank

And just to further muddy the waters the account appears on my Experian and TransUnion credit reports as Yorkshire Bank.

And to complete the full house, searches reported on Experian and Credit Karma were by Clydesdale Bank.

My Credit Karma report shows absolutely no searches by YB / CB or by VM. Only the accounts show, as CB accounts.

One hard search on Experian and three soft searches on Credit Karma (two AML and one affordability).

I'm not paying for Experian so can't see what searches they have. On Credit Karma, I have neither hard nor soft searches from YB / CB or VM. Just nothing. My (meaningless, I know) Credit Karma score has hardly moved since this time last year, despite me having applied for plenty of current accounts, some with O/D facility, and credit cards, and my available credit having gone up substantially. It seems all a bit of a black art.

You can check your Experian report for free using MSE Credit Club and Equifax using Clear Score.

[Deleted User]

It's quite common for searches to use whatever 'brand' has been initially registered with the agency.
Virgin Money, Yorkshire Bank, B and Clydesdale Bank are all just brand names.

In a similar vein, some Bank of Scotland credit searches would show up as Halifax but when the account appeared on file, it was correctly identified as Bank of Scotland.

Archi_Bald

Thank you, I had completely forgotten about that. Though there seem to be two different Experians - - - my credit score on native Experian is almost 100 points lower than on the MSE version of Experian. Just as well it's a meaningless number.....

Anyhoo - - -  Experian does show searches by Clydesdale, as well the VM accounts as Clydesdale accounts.

RG2015

Archi_Bald said:

Thank you, I had completely forgotten about that. Though there seem to be two different Experians - - - my credit score on native Experian is almost 100 points lower than on the MSE version of Experian. Just as well it's a meaningless number.....

Anyhoo - - -  Experian does show searches by Clydesdale, as well the VM accounts as Clydesdale accounts.

They are updated on different days. The MSE version will show the same as Experian when it next updates or vice versa.

I agree that it is a very blunt measure, but a large unexpected change could indicate something untoward.

surreysaver

My Virgin Money Current Account now showing on my Credit Report even though I still cannot use it! 

Eco_Miser

typistretired said:

The Yorkshire Bank Current Account goes down to 0.85% from 1st July 2020 so will need to move most to Cynergy or Marcus which are still at 1.20%
for me. Thank goodness for regular savers!

My Yorkshire Bank Current Account will be 50 next January, so I'm definitely keeping it, but with much reduced balance for most of the month.
Still 0.85% for easy access may be looking good in six months time.

schiff

When I opened my Virgin current accounts the associated Instant Savings account rate of interest was 0.5% (which didn't interest me). In the process of opening the RS Issue 17 today, their promo for that account stated 1.0% variable payable quarterly (which could interest me). I don't recall any notification. 

colsten

schiff said:

When I opened my Virgin current accounts the associated Instant Savings account rate of interest was 0.5% (which didn't interest me). In the process of opening the RS Issue 17 today, their promo for that account stated 1.0% variable payable quarterly (which could interest me). I don't recall any notification. 

The rate on the savings account is 1% until June 30, then reduces. Are you saying they are offering a special deal to holders of RS 17?