“ Credit card. „
I have had a virgin mastercard for a while, and generally speaking the service has been good, hence the fact I have kept using them. I have noticed recently that they have changed their call centres to a voice recognition technology which is very frustrating, and on my most recent call I was shocked that one of the agents actually shouted at me! The fraud team were very good through, as I had used my card in a place where there had been a known cloning and they immediately contacted me and changed the card. I originally transferred a balance to this card, which I have now transfered elsewhere as the rates are very high once the interest free period runs out. I would not slate Virgin Money but I would not use them again on principle as I have had very negative experiences with other virgin brands and they are only average.
I have had a mixed experience with this card. Like most people I needed to transfer my balance as they offered 16 months interest free. It took a week max to receive the card and transfer the balance which was good. But then rather stupidly I charged something to this card thinking that I could clear it at the end of the month, like I do with my other card? But no, I hadn't read the small print which said I'd have to clear the older balance first! So I am now paying just over £1 a month interest which is not too bad I suppose. But here comes the problem. They encourage you to use their internet service to check your account but for the last 4 months I have not been able to login to my account. I first complained 3 months ago and was told that their server was down and I should try in a few days. I did and got the same error message again. Two months later without success I phoned again and the customer services guy asked me to reset my details and register my card again, which I did. But when I tried to login I got the same errors message "Server is temporarily unavilable"!!!!! I called again and was told to try the MNBA site. I did, no success. I was then told to try after the 16th of June which is when they had their IT team repair the system. I tried after the 16th and got the same message. I wrote a long email complaint to VirginMoney and was promised to have this issue resolved within 28 days! 28 days!!!!! I mean my little cousin is 14 and he is more competent with computers than that. Anyhow, as we speak I am still unable to check my account online due to this server error. Ironically, every once in a while they send me an email promoting their online facility!!! I am fed up with their incompetence. Imagine getting into one of Richard Branson's baloons? NO WAY!
Fabulous offer.... I took out this credit card because I needed to switch to a 0% offer allowing me to save up and pay off the balance. The 16month duration gives me plenty of time in order to be able to do this (as a student, the longer the better!!) and there are additional benefits such as shopping discounts and things. To be honest, as I am using it primarily to hold my balance until the end of the year when I will pay it off, I am not looking to add to the borrowing at all, but the limits seem to be quite generous. The online banking feature is quite good too. I had problems with the set up where they do not take the dd account details from application, which meant I thought the min payments had been taken care of. I was away so did not get their letter, and suffered a charge, but they removed this immediately after I explained that it was not actually my error and I have been able to keep track of everything since.
Please be aware Virgin are very unhelpful. I have had a virgin card for five years and took many of the special offers of balance transfers with low interest rates to pay my debt off. I have never defaulted on any payments and paid off most of the debt. Virgin then wacks up the interest to 30% if you havent paid the debt off. They are suppose to warn you three months in advance but they write this on the statement so it can be easily missed. When you ring them they to arrange a new rate they advise you they will only review this rate every six months so you are hammer with the big interest. If you choose a virgin card please make sure that you either pay the debt or able to transfer to another card otherwise you will be hammered with the interest and they will not take sympathy or long term customer loyalty in the account. An update to the above I have now paid more of this card of now and bingo the special offers start coming again however there is a 5% percent charge to do a balance transfer which means you end up paying a big charge to tranfers.. Barclays are doing much better deals and long time balance transfers. Beware of Virgin being a special offer unless your able to pay off the debt
The Virgin Money Mastercard is consistently the market leader for best balance transfer offer. At present they are offering 0% for 16 months on balances transferred with a transfer fee of 2.98% (slightly less than the 3% industry standard). What this means is that if you get a credit limit of £5000 you can transfer 95% of this, which is £4750 for a 2.98% fee of £141.55. In effect this means you can borrow £4750 for 16 months at a total cost of £141.55. which is nearly twice as cheap than any loan rate that can be found in the current market. Normally to get the money off the card you have to transfer the balance onto another credit card you have. However, this Virgin Card is one of the few in the market that allow you to transfer the balance directly into your bank account for the smae 2.98% fee, other providers who allow this include Egg and MBNA. This is an impressive feature that basically gives you a cash loan at 2.98% for 16 months. The current interest rate is typical of the market at 16.6% per annum but this will only take effect after the 16 months expire. The 0% interest rate on purchases is only 3% and should not be used at all if using this card for a loan as then you willend up paying interest on the purchases after 3 months and until the balance transfer expires. The card in the picture is red however mine is a black one and I think there may be a choice when you apply. The application can be done on the virgin money website and if you are lucky you may get an instant decision, otherwise you should get a response a few days later. Overall one of the best credit cards on the market because, if used correctly, it continually represents one of, if not, the cheapest ways to borrow money. Furthermore, they are now offering existing customers the chance to transfer their balances until June 2010 for the 2.984 fee, so this in effect is a second loan at a great rate after the first deal expired.
I was recently searching for a new credit card which would have the added incentive of a length period of 0% balance transfers. I have noted that since the dreaded credit crunch banks have pulled so many of these attractive offers and so it was a welcome surprise to see that Virgin were offering a very enticing credit card. The details of this offer are that you have a 2 months interest period on new purchases you use with this credit card and a whopping 16 months interest free credit with balance transfers. The former was a little disappointing but by no means a deterrent towards having the credit card. The truth be told I along with many other people I am assuming will be tightening their belts. Therefore it is the latter offer which does hold all of the value and will save an absolute fortune, especially when compared to the standard interest rate charges that essentially of the credit card companies apply. The process itself was fairly easy, I was asked a standard group of questions, including my details, current employment, income etc and in total this process probably lasted around 20 minutes. It was hassle free and when I had completed the online application form, a message appeared informing me that they would be in further contact within a few days. I waited patiently and sure enough 3 working days later, a letter appeared welcoming me to virgin along with a scratch off pin number and then the following day, my credit card appeared. The only thing for me to left to do was activate my card which was done courtesy of a automated voice. I am still not particularly impressed by this as I don't feel comfortable in talking to an automated machine. Nontheless, unlike some previous experiences of sending instructions to a machine, this one fully understood. A few moments later everything was confirmed and my card was fully activated. The only remaining task was to register online in order to begin my balance transfers. Again this was a quick and easy process, which left me in no doubt or uncertainty. By this stage my overall impression was extremely positive. This was enhanced further when 2 days later I received a call from a virgin credit card customer service team who welcomed me to virgin and asked whether I had encountered any problems or would like any further assistance. Politely I told him that everything had been sorted out properly but I appreciated the telephone call all the same. I would definitely recommend this credit card to others
I saw an advert for the 16 months interest free credit card from Virgin so enquired online. After reading the small print to make sure there wasn't a sting in the tail of the offer, I went ahead and ordered the card. It was simple! I received the card and online banking details shortly afterwards and logged onto the website with no problems. When you receive the card, you need to register it for security purposes by ringing a phone number. When I rang there were quite high pressure sales in terms of trying to persuade me that I require credit card protection or loss of personal details insurance but I was quite firm that I didn't want the products so after a while he gave up! The online credit card system is easy to use and understand. It was easy to do a balance transfer to gain the 16 months interest free offer although there was the usual 2.98% handling fee type charge but compared to interest payments on other credit cards this will save a lot of money in the long-run. You still have to make minimum payments each month but these are very small compared to the balance. A note of caution that if you miss a minimum payment, then the 0% interest offer ceases to exist so you would pay the full rate (although I think this is a similar condition on other balance transfer credit cards). Overall, I am very pleased with the product in terms of logging on, making a balance transfer and also paying off money online. One thing I haven't done is spent money on it but as it is backed by MBNA I assume there would be no problems with this. Also, from reading the small print - if you actually use your card for purchase this would incur a % interest rate which is as expected. However, you would then have to pay off the whole balance (that is currently charged art 0%) before you could pay off your new purchase balance - so bascially you would pay interest on that new purchase right up until you could manage to pay the whole credit card off!! Beware of that!!
DON'T BE CONNEDI WANTED TO TRANSFER JUST UNDER £8000 AFTER READING OF THEIR OFFER IN SUNDAY TIMES FOR 16 MONTHS AT % INTEREST AND 2.98% HANDLING FEE. WELL IT TURNS OUT THAT IT IS ALL ABOUT A ''LUCKY DIP'' I THOUGHT AT FIRST THAT I MISS HEARD BUT NO HE REPEATED IT AGAIN AND AS I HAD MISSED THIS ''LUCKY DIP'' I CAN HAVE 3% HANDLING FEE AND ONLY 9 MONTHS AT% INTEREST!!!!!I WAS NOT AWARE THAT VIRGIN WAS OFFERING A LOTTERY IN A SHAPE OF A LUCKY DIP AND I UNFORTUNATELY MISSED IT!!!!!!!!!!!!!
I applied for a Virgin card purely because my previous card was coming to the end of the 0% interest period and my balance was still a bit high. I applied for the Virgin card online. It took about 5 minutes and it was really easy to do. I input my previous card on there so that if i was issued a card then the balance could be transferred straight away. As soon as i submitted my application i was informed that i had been accepted and the card and details would be sent to me within 7 - 10 working days and that the balance transfer would be dealt with straight away. The reason i opted for a Virgin card was due to the offers they currently had on. There was 0% on balance transfers for 15 months which i thought was great as most credit card companies were only offering 6 - 12 months. There was also 0% on card purchases for 3 months. Once the offers end the APR goes up to 16.6% which is pretty high. More Benefits There is also a number of different money off benefits when you use your Virgin Card. These include: 10% off Virgin Holidays 10% off Virgin Wines 20% off Virgin Experiences such as flying lessons and spa days up to 10% of Virgin Cruises. I received my card within 7 days and was happy with the service so far. I was also glad that i could manage my card online as its much easier and quicker. I created a username and password and was able to view my statements, make payments and look at the offers available. I did have one small hiccup though. I made my first payment then was sent a bill not long after showing me what my minimum payment would be and when to pay it by. I stupidly thought 'i've already paid it a few days before' so left it at that. Because of this i lost the offers on my card and interest was applied to my card as it was classed as a missed payment. I rang them straight away and explained the situation. As i was a new member and this was the first time i missed a payment they removed the interest and put the offers back on my card. From then on i paid the minimum payment after receiving my statement as i did not want to lose my offers again. One thing to be aware of which i think is pretty important is that if at the end of the 15 months you have an outstanding balance you may have problems finding another card who will accept a balance transfer from your Virgin card. This is due to the Virgin Card being an MNBA card and most other credit cards wont accept a transfer from an MBNA card. One card that does is the Egg card but thats the only one i have found so far. Even an MBNA card wont accept a transfer from another MNBA card which i thought was strange. To apply for a credit card you can apply online at www.virginmoney.com or contact them on 0800 096 9939. They are open Mon to Fri 07:30 - 22:00 Sat 8:00 - 21:00 Sun 9:00 - 21:00 Overall i was happy with my card and the service and had no problems with it after my original hiccup
I have recently got a Virgin Credit card as i was really impressed by their 0% balance transfer offer which lasts for 16 months from the date you open the account. I believe this to be the best offer for balance transfers in the current UK market. Signing up was really quick and simple - i did it online and had all the details to hand of the balance transfers i wanted to make too and it took me about five minutes. It does say you will get an instant approval but i got a message to say thank you for applying and that they would contact me shortly with details of my application. I received a letter in the post a few days after this to confirm i have been approved and the balances were transferred within seven working days of this letter. Then i received my card and PIN separately, I chose a blackcard but you can choose from a red, black or pink card for the standard mastercard - i like the fact you can choose! After receiving my card when i called to activate the card the person i was speaking to offered me a range of other products i might be interested in - normally i can find this annoying but i am currently looking at mortgages and they told me all about the Virgin One Account. They seemed to really know what they were talking about and were friendly throughout without seeming too pushy so i didn't mind staying on the line. They also offered to call me back which i thought was polite. They send me statements each month although you can access the account details and make payments online which i find enormously convenient. So far i've been really impressed with the card benefits and the service i have received.
The Virgin Credit card has been great for me for one reason only. That is the 0% balance transfer rate which lasts for 16 months. The only reason I even applied for this card was to use the rate. With a balance of £2500, I am able to pay it off considerably better than on my previous card where I was accruing nearly as much interest as I was paying off each month. Despite the initial balance transfer fee, there have been no other charges on the balance and over a four month period, I have beenable to pay the balance down to £1800, so I should be all clear by the end of the 0% rate. I took the card out at the same time as a friend who suggested it to me as we both owed the same amount of debt. I stuck to my guns and refused to spend even a pound on the card and have only used it to pay off the balance transfer. My friend however was tempted by the purchase rate and was convinced that he could pay back what extra he was borrowing. He only paid just over the minimum payment each month and now is feeling the effect. The initial purchase rate has now shot up and he is finding interest building up on the (unessesary) purchase he made. I have paid of a third of my balance, whereas he is only £50 under where he started from. He has also now built up a further debt on the credit card that he used this one to pay off! This is the mistake that many people have made with this and similar cards. Getting sucked in by the good rates and thinking that you will be able to pay off any extra purchase balance before the good rate ends is fooling yourself. You should use this card as a tool to help you get out of existing debt and not as extra spending potential. The worst thing you could do is to use your old credit card once you have transfered to the new 0% rate. Get the debt paid off, play the system and only purchase what you need. Getting back to the card, I can honestly say that I haven't even signed the back of it o even removed it from the letter it arrived on for that matter. I have not used it in a shop and have never purchased anything on it. I found the application process easy enough, with only about 2 weeks from application to actually having the card sent to me. The Balance transfer was very simple and the online banking facility is easy to use. The website does not seem as secure as some bank sites as it only has a single password to get into your account. When you make a payment to the card it usually takes about 4 days to show up. I have opted for paperless statements as I do not need to check purchases, but if you are using for purchases then you can have your statement sent to you for checking. One thing I concerned about is that Virgin periodically send you Credit card cheques through the regular mail. These can be used without the card and therefore could be a weak point from a fraud point of view. I wish there was an option where you could cancel the credit card cheques from coming through as they have to be disposed of securely (NOT in the bin!) The other good thing about the card that I have not taken advantage of, is the balance transfer could have been used to pay money into your bank account rather than off a credit card. This is a useful tool for paying off a loan or overdraft, but is also a dangerous thing for spendaholics as it could seem to some as free cash. If used wisely, this card is an amazing weapon against the banks. But if you lose your willpower and start spending, then the bank has you right where they want you.
My best advice - avoid Virgin Credit Card like the plague. On the surface, it is highlighted as being one the best currently on market due to its excellent 0% on balance transfers for something like 16 months. In addition, they also regularly offer promotions for existing customers on balance transfers and purchases. However, for me, the negative - it is the most expensive credit card I have ever come across - outweighs any benefits. * I have received more charges on this card than any other. I have even received £0.30-3.00 worth of refunds for overcharging in terms of interest, PPI etc. At least I got some of it back. * One of my main concerns is that it takes me on average three months to pay the card off and what I mean is this: first month, I will have a balance on my card for, say, two weeks and which I then pay off in full. Second month, thinking I'm okay, I check online to ensure everything is zero. Yet, I notice something 'pending'. Over a period of three-four days I will regularly check to see if the balance has now been entered and can be paid, as well as see what is the cause of this 'pending' costs. Within 24 hours of the new balance being available (due to interest and PPI on the original two weeks), I pay it off again in full. Now, to me, at this point, it should all be clear. NO! Third month, I receive a statement saying that I owe 10p-30p for the 24 hours that the balance was on the record. I know the purpose of credit cards is to make money for the provider, but in this case, it really feels like Virgin is trying to squeeze every penny out of you - with another card, I know if I pay it off in full the first month, that's it, the balance is clear.
I've had virgin mbna mastercards twice now, both times for the 0% offer on both balance transfers and purchases. Stupidly, the first time I abused the facility and although never missed a payment, ran up considerably more debt than i paid off. This is probably why they were falling over themselves to give me a second card two years later, but I'd learnt my lesson and this is where the problems started. I signed up online in the usual way providing all the necessary details. I paid the first month manually via my online banking account and within the specified amount of time. My second statement arrived and I was amazed to see a late payment charge, so I rang customer services to see what was up, apparently my payment had been delayed by a bank holiday (bullsh!t). I asked if that was my fault, and was told no, so I asked them to reverse the late payment charge which they did without question, I was also advised to set up a direct debit which I duly did there and then. Bearing in Mind a late payment negates the 0% offer. I was even more amazed to see a late payment charge on my third statement. Straight on the phone to the just awful customer services team again, to be told my direct debit hadn't been set up in time. Apparently this takes six weeks, well no one told me, so I asked them to reverse the late payment, guess what, they did it with out question. In my personal opinion I can only conclude that Virgin/MBNA have an institutionalised policy of trying it on, in the hope unsuspecting customers get caught out and lose the 0% rate. So be very careful and do everything by the book, if you have to call customer services take note of whom you speak to and the time and date.
Virgin Mastercard is one of the best cards on the market if you are looking to make a balance transfer. They offer an initial 0% rate on balance transfers for a whopping 16 months, which no other credit card provider can beat, or even match. Application process You can apply for the Virgin Mastercard online via the Virgin Money website. At the start of the application you can pick which colour card you would like if you are successful in your application, which is becoming more commonplace with providers. There are 4 steps to the application, the first step is to tell them more about yourself, you need provide details of your name, address, date of birth, phone numbers, email address and residential status. If you have lived at your address for less than 3 years you will also need to input your previous address(es). The next step is about your employment, they ask for your employers name, the length of time you have been with your current employer and your job title. They also ask for your salary and any other household income. This step also includes details of your current borrowings and bank details. You can also opt in to take lifestyle cover and state any balances which you would like to be transferred. If you want to transfer balances, the next page gives you space to input the details of the balances you want to be transferred so that this can be done as part of the application process rather than after you receive your card. The next step of the application is about the card, what colour you want, whether you would like to add an additional card holder and if you would like to receive more information from Virgin via phone and emails. You also have to enter a password for your account on this page. The final stage of the application is the legal side, where you tick a box to agree with the credit agreement. The whole application process only takes between 5 and 10 minutes at most, and is very straight forward. Virgin normally offer an instant decision, and tell you what your credit limit is on the next page, however sometimes they require additional information and you have to call them to complete the application. This doesn't automatically mean you are rejected, it just means that they cannot verify some information, my other half had to ring up when he applied for the card and they accepted his application. Virgin advertise that the typical apr is 16.6% however, most of the people I know who have this card have a rate which is higher. The card is ran by MBNA and they are well known for hiking up interest rates at every available opportunity. As mentioned above, one of the best feature is the 16 month 0% period for balance transfers, however, they also offer a 3 month 0% period on purchases. The balance transfers can be used to transfer balances from other credit cards, this attracts a 2.98% charge (minimum of £3). The balance transfers also cover money transfers, so that you can transfer money into your bank account, this is something that not many providers offer, it now comes with an increased charge of 4% (minimum of £3). The main way to manage your Virgin account is online. Their online system is very easy to use, and you can view your balance, credit limits and the last 6 months transactions online. You can also download statements, make payments, action balance transfers and view your pin. I find the online system a god send and very rarely service my account by any other means. They also have a free 24 hour helpline which you can call to get help, or service your account if you don't want to use the online system. Aside from the benefits mentioned above, the Virgin Mastercard has lots of other benefits which you may not find from other providers, which include: - Up to £100,000 Free Travel Accident Insurance if you pay for your travel tickets in full using your card. - Money off at Virgin Media, Virgin Mobile, Virgin Holidays, Virgin Wines, Virgin Money, Virgin Trains, Virgin Active, Virgin Vie at Home and Virgin Experience Days. As you can see, it is a very handy card to have! One of my favourite features is that the minimum payment on the card if you simply have balance transfers on there, is only £25 a month, which means you can enjoy low repayments whilst the balance is interest free. This means that you can earn money on the transfer elsewhere if you have a high interest account (also known as stoozing), however, this is slightly more limited now due to the higher money transfer fee and low interest rates in general. I have never experienced any downsides to holding a Virgin Mastercard, however, they can be quite harsh if you miss payments or go over your credit limit. If you do either of these, they will withdraw promotional rates, so if your balance is at 0%, you could find it shooting upwards even if you have only missed the payment date by a few days. This is where the online system comes in handy, means you don't have to wait for statements to come through the post. I would say that out of all the credit cards I have had, the Virgin one is by far the best, their introduction rates cannot be beaten, and they regularly offer other promotional rates when the introduction ones have ran out. When I have had any issues, I have found their staff pleasant and courteous and would recommend them to all
Like many others I got attracted to this credit card because of their long 0% interest period for balance transfers. I had a bit of debt here and there that I wanted to shove into a dark place and not be obsessed with paying it back regularly and this looked good. This was the first time I applied for a financial product from Virgin, and the first impressions were good. Not that I consider any credit card company "like a friend" or "someone who can be trusted", but there are standards. Overall, I did not have any problems with any part of the process. The application was done over the Internet and the decision was instantaneous - I didn't even have to wait for a letter to come. I had a small but decent credit score and I was instantly accepted - I was even told my credit limit straight away! I must say that considering the credit limits I was given by other credit card companies, this one was the highest, so they were quite generous, when considering my income and circumstances. When you apply, if you want a balance transfer you can tell them straight away during the application, although you can always call up later and they can do it over the phone on the same terms. They do charge a 3%-ish on any balance transferred, but if you do your math you'll know that this is preferable to having your debt sit at 14.9% elsewhere for just a couple of months. The 0% rate this card offered was (at the time I applied) 18 months, which is very generous indeed. As with any card marketed to people in need of balance transfers, it does try to tempt you into using it for spending, by offering 3 months 0% on purchases. If you know your credit cards, you'll know that this is to be avoided until you've paid off all the balance you transferred, or you may get yourself into an unfortunate situation where the benefits of being at 0% are completely wiped, and there's nothing you can do. I won't go into the details of why this is, but you can easily find information about it on the Internet. You must resist this urge - if you transfer a large balance, you must not use this particular card for spending until you've paid it all off. Having said that important disclaimer, I'll move on to describe the card and the service. You get a choice of 3 colours/themes for the actual plastic. I chose the pink velvety one, and it was easily the cutest card I've ever had. What a shame that since I won't use it to spend, I keep it locked up at home and can never flash it to friends! The service is good enough. Apart from the annoying fact that numbers are charged at slightly unfair rates (but that's the same with most banks), people are helpful and I even got forgiven once for missing one of my payments. I would have lost my 0% rate but I told them that I had simply forgotten and apologised, and luckily they turned a blind eye to it. It won't work if you do it all the time tho! Customer service have a tendency to try to persuade you into transferring more debt into their card. I once got asked, "Now with the bank holiday coming up, why don't you do a balance transfer and free up some money!", when in fact there wasn't any bank holiday coming up for months :) The GREAT thing about this card is that it lets do balance transfers not just from your other cards but also from your bank account! So if you have an overdraft that's costing you, you can shift that debt to this card at 0% and relax for a while. To sum it all up, this is a credit card and you should be educated about what they are, how they work and how to use them responsibly before you apply for one. But if you have some debt lying around and you know what you're doing, this is a top one. Just remember all the caveats!