Virgin Credit Card

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Peter_Bailey
Peter_Bailey Posts: 3 Newbie
in Credit cards
Following a recent transfer that cost a £50 admin fee, they started charging interest on all additional purchases from day 1 and so when I then tried to minimise the charges by making early payments they then paid this off the zero interest balance rather than the balance with interest. It clearly states in the T&C's that payments would be applied to the debt with the higher interest. When I complained they stated that it was my own fault for paying early and are therefore are unwilling to do anything to resolve. The customer service is a joke and the complaints process a farce. Just blame everything on the stupid customers...
I still can't understand how I'm being penalised for paying early but would like to hear if any other of Virgin's credit card customers have had similar experiences and how these have been resolved.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    You've failed to read their allocation of payments.

    Higher interest balances are paid off first, but only when they have statemented.

    On your next statement, make sure you clear the purchases. There will be some trailing interest the next month.

    Thereafter, use a different card for your purchases and clear that in full each month to avoid interest. Don't mix BTs and purchases.
  • Peter_Bailey
    Peter_Bailey Posts: 3 Newbie
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    Thanks,
    I can see whats happened, just can't believe that I've paid £50 for the interest free bit and have now lost a significant part of that because i paid early.
    Feels like I've been stitched up.....
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    Peter_Bailey wrote: »
    Thanks,
    I can see whats happened, just can't believe that I've paid £50 for the interest free bit and have now lost a significant part of that because i paid early.
    Feels like I've been stitched up.....

    If you're going to play the game make sure you know the rules.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    Of course you don't say which type of card you have which would be the most useful piece of information you could have provided!
    If you have a 0% balance transfer card or any other card without a 0% offer on purchases then you will pay interest on your purchases unless you pay the balance (including the 0% balance transfer amount) in full every month. If you intended to use the card for purchases and balance transfers at the same time then you should have got a card which has a 0% offer on both purchases and balance transfers as most virgin cards do. In fact I can't see ANY Virgin card which does not offer at least a 3 month interest free period on purchases as well.
    As for your claim that you have been charged interest on purchases from day 1, unless you have some sort of unadvertised card, I really don't think so. Check again.
    As has already been said, payments will always be allocated to transactions which have appeared on a statement before being applied to transactions which have not yet appeared on a statement so any payments made will always go towards what appears on the previous statement before being applied to anything else. This is clearly shown in the payment allocation information.
  • Peter_Bailey
    Peter_Bailey Posts: 3 Newbie
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    Thanks for the comments, the card is the standard Virgin Money credit card that I've had for years. The only change was to transfer a balance of £1200 which I paid a £50 fee. I understand the comments about playing by the rules, however I didn't think it was akin to booking a flight with Ryanair, I wrongly expected a better service from Virgin. Ben8282 sounds like the customer service representative from Virgin.
  • MABLE
    MABLE Posts: 4,080 Forumite
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    Ben8282 sounds like the customer service representative from Virgin.

    Alas not one of the better informed contributors on this site.
  • molerat
    molerat Posts: 31,868 Forumite
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    For future reference very few cards work the way you hoped, MBNA are one of those that do. ;)
  • planteria
    planteria Posts: 5,321 Forumite
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    bigadaj wrote: »
    If you're going to play the game make sure you know the rules.

    sadly, that is absolutely the point.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    edited 14 October 2017 at 7:41PM
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    Peter_Bailey wrote: »
    Thanks for the comments, the card is the standard Virgin Money credit card that I've had for years. The only change was to transfer a balance of £1200 which I paid a £50 fee. I understand the comments about playing by the rules, however I didn't think it was akin to booking a flight with Ryanair, I wrongly expected a better service from Virgin. Ben8282 sounds like the customer service representative from Virgin.
    So the OP finally discloses that this is not a new card after all. That at least explains the absence of a 0% offer on purchases. A pity he did not think to mention this in the first place.
    MABLE wrote: »
    Ben8282 sounds like the customer service representative from Virgin.

    Alas not one of the better informed contributors on this site.
    I will take the first line of your post as a compliment.
    I would however suggest that it is in fact the OP, not myself, who is not very well informed.
    This response is not in any way helpful to the OP.
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