Virgin CC keep increasing my interest rate

Julesbusiness

About 6 months ago Virgin tried to put me onto a rate of 29.9% from my (at the time) current rate of 15.9%. I telephoned the retentions department and got it (relatively) down to 21%.

On Saturday I got the now famous letter telling me that Virgin money had done some horizontal integration into the loan sharking industry and their opening move was to put my rate up to 34.9%. I once again called customer retentions and the first response I got was that once rates had been set, they couldn't change, then when I reminded them of the 29.9% story only 6 months ago, the call operator told me to hold and came back with a final offer of 29%.

Needless to say, I immediately transferred my balance and will call them back to cancel my account.

The retentions telephone number is 0800 7831116.

Having said the above, I had a lovely honeymoon period with the Virgin card at the start. I made a transfer balance of £10k at 0% for 15 months and they only wanted an unbelievable minimum repayment of £5 per month!!! However, as we all know, there is no such thing as a free lunch, and I now know that long standing loyal Virgin customers were paying for my very nice lunch. At 34.9%, I have no intention of paying for other people’s lunches.

Goodbye Virgin, you loved me once and promised to treat me well, then turned nasty and cruel on me.