Virgin money up to 34.9%apr!

heppy23

Got a letter from virgin today, rates on my card are going up to 34.9% apr.

I just paid off a big chunk of it and only have £500 left so that was good timing.

I think I'd better pay that £500 off as soon as I can!

PROLIANT

heppy23 wrote: »

Got a letter from virgin today, rates on my card are going up to 34.9% apr.

I just paid off a big chunk of it and only have £500 left so that was good timing.

I think I'd better pay that £500 off as soon as I can!

I have a standard rate of 34% with Capital One Bank Visa, it's comfortable knowing that people with good credit ratings are getting there asses kicked with high intrest rates now!

scott_lithgows

heppy23 wrote: »

Got a letter from virgin today, rates on my card are going up to 34.9% apr.

I just paid off a big chunk of it and only have £500 left so that was good timing.

I think I'd better pay that £500 off as soon as I can!

Quite right or balance transfer it out if you can so you can close the account before the high rate kicks in

Moggles_2

heppy23 wrote: »

Got a letter from Virgin today. Rates on my card are going up to 34.9% apr...I think I'd better pay that £500 off as soon as I can!

Once you've paid off/transferred the £500 balance, you're in a strong position to negotiate a more favourable rate.

Also, Virgin have a reputation for looking after existing customers with special low-rate offers, but you need a zero balance to take full advantage of these deals

Treadmill

I'm still on the 0% rate at the moment but I should imagine I'll be in ine for a rate hike as I have a poor credit rating, fortunately by the time the 0% finishes though the balance will be low so I'll just transfer it to Barclaycard for a 6.85 LOB untill I get sorted with another card.

They all seem to be at it now, nearly 3% a month. Ouch.

clio

Me on a low 12.9 plus a year at 0% with Mint and i,m deed happy
alreet Proliant me auld marra!!!:D

My pal has just joined Virgin and if he doesnt keep on top of things Virgin with have him lol.....

PROLIANT

clio wrote: »

Me on a low 12.9 plus a year at 0% with Mint and i,m deed happy
alreet Proliant me auld marra!!!:D

My pal has just joined Virgin and if he doesnt keep on top of things Virgin with have him lol.....

Ah, one day I might benefit from 0% or anything lower than 34%

clio

Treadmill
your credit rating cannot be that bad if you have a 0% card???

Proliant
hope you can get a better deal matey. Just bide your time do you just have the Cap 1 card !!

Treadmill

Its 631... which shows as poor, thats all I know. Thats with Experian.

heppy23

PROLIANT wrote: »

I have a standard rate of 34% with Capital One Bank Visa, it's comfortable knowing that people with good credit ratings are getting there asses kicked with high intrest rates now!

I presume I've got a half decent credit rating, it's been a good year since my file was cleared of all the defaults from 6 years before that.
I'd been planning to pay it off soon anyway as the 0% deal ran out about 4 months ago and I don't like paying interest unless I have to!

clio

Nah i think your looked apon as a better risk than poor, Those credit ref scores don't mean a great deal i heard/read etc..