Virgin Money Credit Card - Sneaky Practice!

abc.xyz

Ahh, so this is why Martin has always advised not to put purchases on a BT/MT card... 

cymruchris

abc.xyz said:

Ahh, so this is why Martin has always advised not to put purchases on a BT/MT card... 

Yes

MEM62

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

D3xt3r5L4b

MEM62 said:

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

Because people seem to be against reading T’s and C’s and want everything spelt out for them
on the front page, so to speak

Mr87

D3xt3r5L4b said:

MEM62 said:

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

Because people seem to be against reading T’s and C’s and want everything spelt out for them
on the front page, so to speak

That's a bit unfair. I've read many of your posts and you are clearly an informed person and therefore speak from a position of authority. I think most people find long pages of T&Cs full of impenetrable legalese, so it's difficult to translate that into every situation when you use a credit card,even if you took the time to read it through fully. Underhand? Perhaps not. Opaque? Yes. 

D3xt3r5L4b

Mr87 said:

D3xt3r5L4b said:

MEM62 said:

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

Because people seem to be against reading T’s and C’s and want everything spelt out for them
on the front page, so to speak

That's a bit unfair. I've read many of your posts and you are clearly an informed person and therefore speak from a position of authority. I think most people find long pages of T&Cs full of impenetrable legalese, so it's difficult to translate that into every situation when you use a credit card,even if you took the time to read it through fully. Underhand? Perhaps not. Opaque? Yes. 

If people choose to “tick the box” or “type your name” if you have read and agreed to the Terms and Conditions, and they actually haven’t, I don’t see how that’s anyone else’s problem?

zagfles

D3xt3r5L4b said:

Mr87 said:

D3xt3r5L4b said:

MEM62 said:

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

Because people seem to be against reading T’s and C’s and want everything spelt out for them
on the front page, so to speak

That's a bit unfair. I've read many of your posts and you are clearly an informed person and therefore speak from a position of authority. I think most people find long pages of T&Cs full of impenetrable legalese, so it's difficult to translate that into every situation when you use a credit card,even if you took the time to read it through fully. Underhand? Perhaps not. Opaque? Yes. 

If people choose to “tick the box” or “type your name” if you have read and agreed to the Terms and Conditions, and they actually haven’t, I don’t see how that’s anyone else’s problem?

Terms can often be confusing particularly rules around interest charging but that's not really the case here, this is bog standard credit card operating practice, the exemption of no interest for purchases (on which interest is usually charged) only applies if you completely clear your balance every month.

onlyfoolsandparking

But not EVERY card, as I previously said Barclaycard allow you to have a balance on a promotional rate AND 'up to 56 days' interest free if you pay off purchases in full.  

PixelPound

Mr87 said:

D3xt3r5L4b said:

MEM62 said:

valmade said:

As I said I know it is in the T&Cs but I feel it is an underhand way of charging people extra interest.

How can it be underhanded if they actually tell you about it?

Because people seem to be against reading T’s and C’s and want everything spelt out for them
on the front page, so to speak

That's a bit unfair. I've read many of your posts and you are clearly an informed person and therefore speak from a position of authority. I think most people find long pages of T&Cs full of impenetrable legalese, so it's difficult to translate that into every situation when you use a credit card,even if you took the time to read it through fully. Underhand? Perhaps not. Opaque? Yes. 

That's why many financial product have a Key Facts section, yet people still don't read but assume

Mr87

onlyfoolsandparking said:

But not EVERY card, as I previously said Barclaycard allow you to have a balance on a promotional rate AND 'up to 56 days' interest free if you pay off purchases in full.  

So I agree with this sentiment. There is divergence between providers on this, and it is confusing for consumers. I am not saying there is anything underhand (I have already said this), or that lenders are somehow responsible for consumer behaviour. But, that it is confusing enough that people make mistakes, such as OP, and others who are similarly unaware - and the financial penalty for getting it wrong is large.

@nic_c  On the key facts section is there usually anything about spending once you've done a balance transfer? I'm asking because I don't know.