Virgin credit card

mcrfan

Me too! Phew I thought it was just me!
I just rang to query it, as it has coincidentally happened at the same time that I had made a late payment, so I was panicking thinking it was because of that. I queried the increase as mine has now gone up to 34.9% and I have a 4.5k balance sat there. Cust services said it was a general company review.

Plus it says my monthly payments are going up - so if it's 5% is that now going to be £225 a month?? Sorry my maths is a bit off.
This would be up from £70 that I am paying at the moment so would be a huge disaster.

But the person I spoke to at customer services said that if I want to query the increase I should ring the customer loyalty dept and she gave me a phone number - anyone any idea what this is all about??

debbie_debt

I've read around the site at Martin's advice and have sent a letter in to the address on the letter:

Virgin Credit Card
Reference RVM031 (Does this mean I'm cust. 31 they did this to??? check your ref to see if its the same)
Freepost NATE 744
Chester
CH4 9BR

Asking very firmly but politely for them to reduce my apr again, explaining that its gone from 10.9% to 34.9% in just over 3 years, that I find this unacceptable, trying to work my way out of debt etc etc I also questioned Virgin's ethos regarding responsible lending/borrowing (eeek, not sure if i should have done this!). Anyway, I'll keep you posted if/when I get a reply!

YorkshireBoy

mcrfan wrote: »

Plus it says my monthly payments are going up - so if it's 5% is that now going to be £225 a month?? Sorry my maths is a bit off.
This would be up from £70 that I am paying at the moment so would be a huge disaster.

See post #2.

But the person I spoke to at customer services said that if I want to query the increase I should ring the customer loyalty dept and she gave me a phone number - anyone any idea what this is all about??

If they think you'll move away they may reduce your rate.

MRSTITTLEMOUSE

I have a Virgin card too and I have just got a letter reducing my interest by 5% to 18.9%,they also increased my limit by £500 so what's going on I wonder.

mcrfan

debbie_debt wrote: »

I've read around the site at Martin's advice and have sent a letter in to the address on the letter:

Virgin Credit Card
Reference RVM031 (Does this mean I'm cust. 31 they did this to??? check your ref to see if its the same)
Freepost NATE 744
Chester
CH4 9BR

Asking very firmly but politely for them to reduce my apr again, explaining that its gone from 10.9% to 34.9% in just over 3 years, that I find this unacceptable, trying to work my way out of debt etc etc I also questioned Virgin's ethos regarding responsible lending/borrowing (eeek, not sure if i should have done this!). Anyway, I'll keep you posted if/when I get a reply!

The ref no on my letter is also rvm031. What does this cryptic code mean?!


What does everyone think is the best approach with this to complain to the "customer loyalty department" - phone call or letter???

YorkshireBoy

mcrfan wrote: »

The ref no on my letter is also rvm031. What does this cryptic code mean?!

R = Rate/Review?
VM = Virgin Money
03 = The month the change is effective from, ie March
1 = ?

What does everyone think is the best approach with this to complain to the "customer loyalty department" - phone call or letter???

Telephone initially (0800 783 1116), followed by letter if necessary.

debbie_debt

I've gone straight for the letter simply because I've spoken to them before about a couple of things and never got very far over the phone, the guys on the phones don't seem to have much authority to change anything (I could be wrong) plus I thought if it's all in writing then it's all on the record, so to speak.

Would be really interested to hear tho if anyone gets their rate reduced over the phone!!

kizzykizzywizzy

debbie_debt wrote: »

I've read around the site at Martin's advice and have sent a letter in to the address on the letter:

Virgin Credit Card
Reference RVM031 (Does this mean I'm cust. 31 they did this to??? check your ref to see if its the same)
Freepost NATE 744
Chester
CH4 9BR

Ooo I'm number 33 !!
My Husband closed this card about 3 weeks ago it took ages as they always try & convince you not to - no incentives I might add, just like they take ages to activate your card whilst trying to flog you ppi.
So don't know why they've sent this as supposedly this account is closed!
Thank God

jeanmd

We got the letter to day - up to 29.9%
Phoned and got it put back down.
Monthly payments up though.:mad:

Reading through other threads, people seem to be binning the letter.:eek:
Love to know whats going on.
We're good payers, on time and well within credit limit.:mad:

AMILLIONDOLLARS

MRSTITTLEMOUSE wrote: »

I have a Virgin card too and I have just got a letter reducing my interest by 5% to 18.9%,they also increased my limit by £500 so what's going on I wonder.

They want you to increase your borrowing so that they can hike the interest at a later date, like they've done to the others:eek: reel you in, then hang you to dry!!

AMD