Virgin Money - transfer credit limit between cards

mcpitman

Se1Lad said:

The appeals team got in touch with me today.  The maximum credit limit for new cards is £25k, so they were able to move £17.5k limit from my old card to the new card - giving me £25k limit on the card to take advantage of the balance transfer offer.

Great news, sounds similar to my experience.

cymruchris

Thanks for posting this - I currently have two Virgin cards - one was supposed to be for travel - but that hasn't happened - so it might be worth me combining two into one as my limits are comparatively low to your £25k  

Se1Lad

As I don’t currently have any outstanding balances on my other credit cards, I did a money transfer from my MBNA card for the maximum they would allow (£23,250) to my current account - this was fee free with 3.9% APR.  I then did a balance transfer from MBNA to Virgin.  
The balance was only on the MBNA card for one day, so should only cost me £2.50 in interest. 

 I can now stooze on the Virgin card at 0% with 1.2% fee for 27 months …. Well technically 26 months and 2.5 weeks as it’s taken 10 days to receive the card and subsequently get my credit limit adjusted!

jarvo91

Reviving an old thread but just been doing similar with Virgin Money.

It is really like pulling teeth, most of the agents have no idea. I spoke to 3 junior and 2 senior advisors all but one said it was impossible and could never be done. One was actually quite rude whilst saying I had false information.

So I asked to go to complaints team about said advisor. They were quite easily able to send the appeal to their "credit operations team". You can't speak to them on the phone but have been in touch over email.

The caveat it that its not an automated process like MBNA or Barclays but a manual appeal that can take up to 30 days and can be refused.

Alex9384

Deleted_User said:

Doesn't make sense - if you want a bigger limit on an existing card then ask for it, applying for a second card then trying to combine them is an unnecessary step

It does make sense though. I've done that with Halifax cards.
I don't think they would let me simply increase limit from 6k to 11k. I had a card with 6k limit and when applied for the second card, I got a little over 6k. You can call them after 7 days. They told me I can now move my limit and have over 11k on one card.
The new card had a 18 months 0% offer while the old one was coming to an end. So it makes perfect sense to move credit limit to the new card and have a 0% card with 2x higher limit than you would have without doing that.

[Deleted User]

Alex9384 said:

Deleted_User said:

Doesn't make sense - if you want a bigger limit on an existing card then ask for it, applying for a second card then trying to combine them is an unnecessary step

It does make sense though. I've done that with Halifax cards.
I don't think they would let me simply increase limit from 6k to 11k. I had a card with 6k limit and when applied for the second card, I got a little over 6k. You can call them after 7 days. They told me I can now move my limit and have over 11k on one card.
The new card had a 18 months 0% offer while the old one was coming to an end. So it makes perfect sense to move credit limit to the new card and have a 0% card with 2x higher limit than you would have without doing that.

It doesn't make sense to run a credit check for a new card which might be declined e.g. if the bank doesn't issue 2 cards in the same name or might result in some low balance card. The plural of anecdote is not data

cymruchris

As this thread is back to life - I called Virgin to ask whether I could merge my Atlantic card with my regular Virgin card, they said no it wasn't possible, so decided to close the Atlantic card as it came with a relatively low limit, and the benefits weren't really suited for my spending style. 

jarvo91

cymruchris said:

As this thread is back to life - I called Virgin to ask whether I could merge my Atlantic card with my regular Virgin card, they said no it wasn't possible, so decided to close the Atlantic card as it came with a relatively low limit, and the benefits weren't really suited for my spending style. 

Just to let you know it would have been possible but you need to speak to the right person. I was getting a flat no from several advisors, even senior ones. It wasn't until I raised a complaint that I got it sorted they even just sent me £50 compensation for the poor service. Had a lengthy discussion with the customer complaints agents who were helpful and even being a virgin atlantic card wouldn't be a problem.

jarvo91

Deleted_User said:

Alex9384 said:

Deleted_User said:

Doesn't make sense - if you want a bigger limit on an existing card then ask for it, applying for a second card then trying to combine them is an unnecessary step

It does make sense though. I've done that with Halifax cards.
I don't think they would let me simply increase limit from 6k to 11k. I had a card with 6k limit and when applied for the second card, I got a little over 6k. You can call them after 7 days. They told me I can now move my limit and have over 11k on one card.
The new card had a 18 months 0% offer while the old one was coming to an end. So it makes perfect sense to move credit limit to the new card and have a 0% card with 2x higher limit than you would have without doing that.

It doesn't make sense to run a credit check for a new card which might be declined e.g. if the bank doesn't issue 2 cards in the same name or might result in some low balance card. The plural of anecdote is not data

It can make sense in a lot of situations. I had a 100% pre-approved balance transfer card on the MSE credit comparison from Virgin money but the original credit limit I got was lower than I would have wanted. So merging with an old, unused card that had no offers or promotional rates and had a higher credit limit means I can do a much larger balance transfer, at a great rate.

Westie983

Im still getting no, but I will persevere as others have had success.

I have a small limit on one Virgin card but a Balance transfer off on another card with a higher rate and would like to transfer the balance to the newer card and get rid of the older one.

Westie983