Virgin Credit Card

Granville23

I have just applied for virgin card online, it gives a section for existing cards and gave my current one with £3440 limit and current balance of £2900.

At the end it said thanks for applying but they need more information and to call them...

Is this normal or is there possibility that I have been rejected.

:beer:

wyebird

I had to call them and then send in my bank statements and then I was accepted. Not the highest limit I have, but the highest initial limit I have been given.

CannyJock

Isn't unusual, roughly half the people I know who applied had to call them. They'll try and sell you PPI when you call them.

gowgowuk

Hello,
Another newbie question. Where does it actually say in Virgin website/T&C that you can do a balance transfer to a current account? Not that I don't believe what I am reading here, of course, but I always like to read in black and white the details of what I am signing for... Also, I was wondering why the EGG Visa card (not the egg money card) is not in MS list of cards allowing a super-balance transfer. I found it on http://www.stoozing.com and at least here, I can find the mention of transfer on a current account in their T&C. Any advantage/disadvantage I should know about for Virgin vs. Egg card?
Many thanks for your help and patience.
Philippe

robnye

i was actually told by the customer service person when i phoned to activate the card, that i could do a transfer to my bank account......! but i am sure it says it somewhere in the T&C's

YorkshireBoy

gowgowuk wrote: »

Where does it actually say in Virgin website/T&C that you can do a balance transfer to a current account?

You won't find it in the T&C's. The telephone CSA's will inform you of it, and you can also see the option once logged into your secure area online.

Any advantage/disadvantage I should know about for Virgin vs. Egg card?

Advantages of Virgin over Egg Visa:

• The Virgin BT fee is slightly smaller.
• Virgin (MBNA) give excellent ongoing BT offers...0% for x months, and often fee-free/capped fee.
• At £25 per month from month 2 onwards, the Virgin minimum payment can be considerably less than Egg's 2% if you have a large limit (eg £15K on Egg would be £300 per month).

gowgowuk

YorkshireBoy wrote: »

• At £25 per month from month 2 onwards, the Virgin minimum payment can be considerably less than Egg's 2% if you have a large limit (eg £15K on Egg would be £300 per month).

Ah, Thanks, I guess that may be the deciding factor for me then.
Thank you all for the info!

YorkshireBoy

gowgowuk wrote: »

Ah, Thanks, I guess that may be the deciding factor for me then.

That's merely a convenience, since it means most people will be able to meet them from income rather than raiding the stooz pot each month.

Having enjoyed an almost continuous 3 years of 0%/0.9% no-fee/capped fee deals, I'd have to say the second bullet was the most important.

Granville23

I called virgin and all she did was confirm my details and tried to sell me card insurance.

She approved me there and then for 5k and asked me if I wanted to do a Balance Transfer and because I didn't have the account details at hand she said she could transfer up to 95% into current account. So BT'd £4700

YorkshireBoy wrote: »

Advantages of Virgin over Egg Visa:

At £25 per month from month 2 onwards, the Virgin minimum payment can be considerably less than Egg's 2% if you have a large limit (eg £15K on Egg would be £300 per month).

YorkshireBoy is correct, she quoted me The £25 per month from month 2 onwards.

Apart from BT fee I just don't know how they gain out of it, cheers to virgin :beer:

CannyJock

They will send you offers periodically to try and induce you to buy something with the card. If you do then they cream you for interest - if you've not already, taken the card out your wallet and put it somewhere safe and out of the way so you don't accidentally use it.

They also hope that you lose track of the introductory period. Set a tart alert if you've not already. Set two just incase if you're in any doubt Apart from that, just make sure you've got the direct debit set up to repay the minimum then sit back and do nothing or go look for another card to apply for next month

Soprano

Granville23 wrote: »

I called virgin and all she did was confirm my details and tried to sell me card insurance.

She approved me there and then for 5k and asked me if I wanted to do a Balance Transfer and because I didn't have the account details at hand she said she could transfer up to 95% into current account. So BT'd £4700



YorkshireBoy is correct, she quoted me The £25 per month from month 2 onwards.

Apart from BT fee I just don't know how they gain out of it, cheers to virgin :beer:

Apologies if I have got my sums wrong, I'm still trying to figure this malarky out.

Using your figures, £4700 will be put into a saving account say at 6% over 15 months which = £283.67 in interest, then take off the 2.98% fee (£136.30) leaves you with £147.37 profit as long as interest on saving doesn't fall??