We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

WARNING! Virgin (MBNA) increasing interest rates!

Please look at you virgin credit card letters with care.

They are increasing interest up to 34.9%

Our's went up to 29.9%

We are good payers, always on time and well within our credit limit.

Thay are also increasing minimum payments to 5% or £10


The only thing we have done is set up a direct debit as Martin suggested!


We rang Virgin and they've lowered rate back down but minimum will still increase from under £40 to over £120:mad:
£2021 in 2021 no.17 £1,093.20/£2021

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    jeanmd wrote: »
    ...but minimum will still increase from under £40 to over £120:mad:
    How is that?

    Isn't the minimum payment 5% or interest + £10, whichever is the LEAST?

    If it is, then all they're doing is asking for a fiver a month more.
  • jeanmd
    jeanmd Posts: 2,361
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Forumite
    I guess it wasn't 5% before
    £2021 in 2021 no.17 £1,093.20/£2021
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.7K Banking & Borrowing
  • 254.9K Reduce Debt & Boost Income
  • 456.1K Spending & Discounts
  • 248.3K Work, Benefits & Business
  • 605.9K Mortgages, Homes & Bills
  • 179K Life & Family
  • 263.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.