changed from egg to virgin as they had interest free account but now been sent emails asking for my payments and my 'current rate' is not 0%, @£%^£!!?
were you late with a payment? they stop the interest free period if you are.
damn maybe thats what it is
blimey, if attitudes like this become the norm this country could end up getting into trouble with borrowing
😉
The main complaint on moneysupermarket about virgin cc seems to be the very narrow window of payment from when statement issued, so if direct debit not setup, it was easy for payment to become late.
yeah i thought direct debit was set up but seems like it was the one i had with egg, luckily ive got cash to almost totally wipe it out and gf will lend me the rest
lol @ mrmichaelwright
Yep tis a bugger.
Same thing caught me out.
Make sure when you set up the direct debit, that change back the interest back to 0%, because in theory you have breached terms of the borrowing agreement and they could stich you.... but if you ask nicely it will be fine.
I had this with virgin.. I just called them and they took the interest charge away. Good way of avoiding this is to set up a DD for the minimum payment, you can still pay more off but you avoid th erisk of missed payments.
FYI - Another thing to look out for . . . . . a couple of years ago I did a balance transfer of a couple of grand onto a 5 month 0% interest virgin card, and then a few days later accidentally used the same card to buy a tank of petrol.
When my next statement came through it had the 2k at 0% interest plus an additional balance of £50 for the fuel. I sent off a full payment, in good time, for the £50 and a minimum payment for the 2k (which was maybe £25)
The next months statement had an intrest free balance of £1925, a repeated balance of the £50 for fuel and interest on that £50 of a few pounds.
When I phoned to query their "mistake" they informed me that the £50 couldn't be paid off until the interest free balance was cleared. In other words all payments I made over the next 5 months would go towards the figure that was costing me nothing. This left the £50 for fuel untouchable and earning them interest for the full 5 months - with nothing I could do about it. I paid all the balances in full immediately and never used them again, but imagine if you were desperate and you did an interest free transfer of say 10k, and then had to use the card to but something for 1 or 2k? They'd make a mint on interest on the 1 or 2k and you'd have to clear the 10k first.
Of course it's all in the small print . . . . .
SST, thats how all credit cards work, its even stated in the small print of some TV adverts! and no offence, but ho many people give the advice about anything "always read the small print"?
it's on the back of every statement too - under "order of payments" or something.
it was a few years ago, but yes, I know now 🙂
It caught me out i was a day late with payment, i rang them and they put it back to 0% with out too much fighting.
We did the Virgin 0% offer and we had one statement come through with interest, the wife called up and they said it was a mistake and sorted it straight away for us.
We however pay by direct debit each month and keep the card locked away so we don't accidently use it.