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Original poster

To ask for help - panicking about credit card

22 replies

Desperatelyboredhousewife · 15/06/2023 22:21

Hi everyone, not technically an AIBU but I really hope someone can help as I’m panicking. I have £3000 in credit card debt on a no interest credit card with virgin money. No interest deal is 2 years so I’m not due to pay any until May 2024. I have logged in to the account today as I’m almost able to pay the balance off and it is showing as owing over £5000 - despite the fact I have not spent anything on the card ever, the money owed was a balance transfer last year. When I click balance breakdown within the app, it shows the correct amount owed (£3000) is anyone able to advise what could be happening please. before I worry myself all night?

OP posts:
BennyBlancofromtheBronx · 15/06/2023 22:23

Is it the available balance that's showing initially?

Original poster
Desperatelyboredhousewife · 15/06/2023 22:24

@BennyBlancofromtheBronx unfortunately not - it says ‘amount you owe’ then ‘amount you can use’ so it’s fairly clear which is which. I will of course call first thing tomorrow morning, I’m just going to be stressing all night first!

OP posts:
Whenwillitallmakesense · 15/06/2023 22:25

Have you been paying off minimum monthly payment since the transfer?

YorkshirePuddingsGreatestFan · 15/06/2023 22:25

Should you have been making minimum repayments each month?

Usually it's interest free until the agreed date, but you still have to make a minimum payment each month.

UndercoverCop · 15/06/2023 22:27

You will void the terms of the interest free agreement of you don't make the minimum payments, it doesn't sound like you've been paying it off?

Original poster
Desperatelyboredhousewife · 15/06/2023 22:27

I have been paying £100 a month plus a one off larger payment - recently changed this to £50 a month as I’m paying the full amount soon, which is still over the minimum payment

OP posts:
EarringsandLipstick · 15/06/2023 22:27

No interest deal is 2 years so I’m not due to pay any until May 2024

No, you're not being charged interest until May 2024 so you still have to pay a minimum payment each month.

I don't think that explains the amount though.

Tinyant · 15/06/2023 22:27

Is it interest free on purchases but not balance transfer?

or you haven’t been paying a minimum per month (although I thought that was automatically set up when you set up a CC!)

UndercoverCop · 15/06/2023 22:28

Look on the statements see when the amounts other than the original balance transfer, were added on and what it says. What were the balance transfer fees? Usually below 3% but can be higher.

EarringsandLipstick · 15/06/2023 22:28

Sorry cross posted!

In that case, I am not sure why you are panicking - you've made regular payments, it must be an error.

Original poster
Desperatelyboredhousewife · 15/06/2023 22:33

Sorry, just wanted to clarify I have been making payments - I meant that I don’t have to pay any interest until 2024, not pay any money. I will contact them in the morning and hopefully it is easily resolved as my latest statement from 10 days ago shows the correct amount and so does my balance breakdown.

OP posts:
BarbaraofSeville · 15/06/2023 22:37

These sorts of things are really hard to work out from descriptions. Either its an illustration once the interest free period has expired, or possibly an error.

Are you able to post a screenshot/pictures with personal details obscured, as this often makes it a lot easier for people to work out what the problem might be.

tweener · 15/06/2023 22:41

Is it definitely interest free on balance transfers, and not just on purchases?

Tilllly · 15/06/2023 22:42

Could it be a pending payment? (Obv not from you using so fraudulent)

user654 · 15/06/2023 22:44

DH has virgin and it’s a buggy app, he keeps moaning about it displaying £0 when he has got a balance and it doesn’t always show. Potentially could just be that!

TheDisgustingBrothers · 15/06/2023 22:46

What do you want people on here to say if you can’t even make sense of it yourself? :/ it sounds like an error in that case surely?

Original poster
Desperatelyboredhousewife · 15/06/2023 22:46

Balance transfers are definitely 0% until May 2024. Not sure if any of this is helpful (no personal info included)

To ask for help - panicking about credit card
To ask for help - panicking about credit card
To ask for help - panicking about credit card
OP posts:
Worryaboutwork · 15/06/2023 22:52

Desperatelyboredhousewife · 15/06/2023 22:46

Balance transfers are definitely 0% until May 2024. Not sure if any of this is helpful (no personal info included)

Balance transfers with 0% usually come with an initial transaction fee of around 2.9% then you pay 0% after that.

TinySaltLick · 15/06/2023 22:58

The statement is more likely to be correct than the total figure in the UI. Defo call them but based on the info you have provided it sounds like the 3k figure is probably the correct one. I wouldn't worry about it but accept that is easier said than done!

nebulae · 15/06/2023 22:59

You can view recent transactions on the virgin money app. What does that section show?

Original poster
Desperatelyboredhousewife · 15/06/2023 23:08

thank you for your help everyone and to those of you who were reassuring. The app has now gone back to showing the correct amount. What a fun way to spent the evening! And If you’re using the Virgin app, be careful haha

OP posts:
NannyGythaOgg · 15/06/2023 23:08

I suspect the larger sum is what you will owe IF you default on the minimum payment needed to keep the 0%

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