Virgin Card in Money Tips

Unbelievable_2

Martin says

The Virgin card is the top pick! The only thing to watch is a 2% fee for any further balance transfers after the introductory offer. The exception to this is the Virgin card, which doesn’t charge new or existing customers a balance transfer fee, wmaking it the top pick of the MBNA cards.

I am in month 4 of a Virgin 0% for 9 months offer. I have just spoken to Roman at Virgin (lovely irish accent!) and he stated that the first 6 months of the account are fee free, after that it's 2% or £50 whichever is higher!

What is going on? :-/

Geordie_2

I couldn't quite understand this part of the money saving email either.

Geordie

Reaper

Credit card companies can change their terms & conditions whenever they want, as long as they warn you. Things may well have changed since Martin wrote his piece.

I have just taken out a Virgin card and the terms include the standard MBNA wording "we may charge a handling fee for balance transfers... the handling fee will be no more than £35". I imagine that will be changed to say £50 soon as with other MBNA cards.

The trouble is that "may" is rather unhelpful and early on the MBNA staff themselves didn't seem sure when it applied. However they will always warn you before applying the fee. The only guarenteed way to avoid it is to do it with your application as they have not had the opportunity to tell you there will be a charge.

Unbelievable_2

It makes it tricky when doing BTs on line though as it says that the fee will be charged unless you have been told otherwise - woolly or what! :-/

MSE_Martin

This part of the email is simple.

Virgin do not charge new or exisitng customers the balance transfer fee.  I have this confirmed in writing by those on high at Virgin.  If customer service is saying there is a fee, they are wrong.

Virgin do reserve the right to charge one in the future, but current policy is no balance transfer fees.  It wasn't an error.

The following is the email transcript (there was also a phone call but i don't have that

ML: Yet another of my 'fee' questions.  I think we're now clear on when a fee applies.  May i just check - im hearing that there's no BT for your Virgin card at any point.  Is this true?

MBNA reply: Martin,  The BT fees are not applicable on Virgin credit cards.

ML: Thanks for the reply about Virgin and BT fees.  I do note the ts&cs say it may charge a fee.

May i categorically state "Virgin's current policy it is will never charge a balance transfer fee for new or existing customers"

Is that always correct?

MBNA reply: Martin, I think it would be better to say that "Virgin don't charge for balance transfers for new and existing customers". I think using the word never may be a little strong as I cannot say for certain that the charge will not be introduced at some point in the future - although I must stress that there are no plans to introduce this charge at present.


So that as they say..... is that.

Hope this helps

Unbelievable_2

I suppose the question is now how do we let those on high at Virgin know that their customer services people are giving out misleading information and that their website balance transfer screen doesn't completely reflect their stated position either?

Geordie_2

My Virgin 9 month 0% promo rate was about to end last month. I paid the full balance off and as expected a Customer Advisor rang from Virgin asking if I was interested in an additional 9 month 0% period. I said yes but she said there would be the £35 BT Fee. Where do I stand with this fee or is this a differenct scenario?

P.S. I have already paid the fee and the minimum £5 payment = £40 total.

Thanks in advance

Geordie

Milarky

Well, you could [in the interests of science] just contact Virgin now and point them in the direction of this 'advice' posted on a well-known website, quoting [I'm a little worried about the lack of a person's name!] the Virgin/MBNA person's words about general policy.

If you can get them to confirm some 'change of stance' there's a good chance they may refund your charge. [I was charged £35 back in May for something similar but was happy on account of the large balance transferred]

Let us know what happens

MSE_Martin

Nightmare

I sent the powers that be at Virgin this thread to discuss how they could make sure its customer service team knew about this ruling.

And.... now it tells me, actually they were wrong, there is a BT fee for existing customers outside the intro period.  Which is extremely annoying.  I do apologise to anyone who has been misled.  

I am spitting teeth to be honest as it went in my moneytipsemail.  And all Virgin has done is "apologise"

But there is little that can be done - i am going to put a correction in next week and am altering the article changes as we speak

Martin

Geordie_2

Milarky and Martin

Thanks for your replies.

Unbelievable_2

there is a BT fee for existing customers outside the intro period.

I don't want to natter (although Mr Unbelievable says that I am particularly good at it ::)) but according to Virgin's customer service bod there is a fee for customers inside the intro period aswell! I have a 9months 0% deal but apparently will be charged on any BTs I do in the last three months of that period.