Virgin Money Credit Card

[fletch70]

I am at a loss. Last week I received a letter from Virgin Money saying they are closing my account in 60 days but no explanation. I called and was told to go into branch so I travelled 25 miles to the branch to be told it was nothing to do with them. 

 

Bit of background

I opened a Yorkshire bank account in 2014 as my town had a branch (long since closed)

 

A little while later I opened a Yorkshire bank credit card with a small credit limit

 

More recently I opened a B credit card as it had zero non sterling transaction fees , this was just before they closed that type of card to new applicants.

 

So Virgin money come along and transfer all my accounts to virgin money. 

 

I opened another virgin credit card with 12 months 0% as I had drowned my old iPad and wanted a new one.

 

Almost two months ago I found out by looking at my statement that the B credit card had changed its terms and conditions and now was only zero non sterling if the transaction was in euro's Swedish Kr and Romanian Lee. I called and queried this to be told it was a commercial decision but the call handler did acknowledge that I had not been told about this.

 

I made a complaint - to be honest this was the reason for keeping the card open . They have about another 3 weeks before the 8 weeks are up and I take it to the FOS

 

Anyway, after getting the letter giving me 60 days I made a complaint that they a) sent me round the houses b) were unable to tell me why. I was told I would get a call back within 4 days 

 

After 7 I called to be told the complaint had been closed as it had no standing and that the reason my account was closed was something really serious and someone would call me before the end of the 60 days.  

 

Just to confirm, I usually keep £1000 minimum in my account (to get the interest) , have never once been overdrawn and my wages get paid in every month. I pay all my bills from the account . I admit I did a bit of moving money around a couple of months ago and also made a couple of 1K cash deposits.

 

Is there anything I can do? Oddly they have not closed my credit cards

 

I have now opened a student bank account with HSBC and also checked my credit file. HSBC are doing a switch to move all my DD's. I have also opened another credit card that gives no charges on non sterling transactions or cash withdrawals ( I can't quite believe it as it nots Halifax).

 

I want closure but I also want Virgin Money to pay.

 

Sorry for the long rant  

Edited May 28, 2022 by dx100uk
now now.

[BazzaS]

You want them “to pay”, but for what loss?

 

They are obliged to treat you fairly, but don’t have to have you / keep you as a customer.

 

Since you “admit” to “ a bit of moving money around a couple of months ago and also made a couple of 1K cash deposits” - do you think you account may have been flagged as a risk for money laundering as the trigger for this?

[fletch70]

When I say pay I mean it figuratively, however, the change in terms and conditions of the credit card will have some real life costs to me- it was the card I use when we go on holiday which is often outside the eurozone. Our countries of choice are usually Poland, Croatia and the Czech republic and prior to the war, Kyiv.

 

I am indeed wondering if the movement of money has flagged something but there are really straightforward answers if only they asked. If that is the reason then fair enough and lesson learned , by the way it was not mega bucks, the maximum cash deposit was £1300.

 

I had also been paying the ground rent for my partner for 10 months and then deposited a cheque for 10 months ground rent.

 

When we go away , I like to have some money in different accounts incase any do not work where we are going, but I am not affluent enough to be able to have it sitting there when we get back.

 

I have checked an up to date version of my credit file and there are no cifas markers.  

[dx100uk]

Spot on then, just the transfer of money around A/C's 

and of course but not limited too, p'haps they peaked at the countries you visit too.

 

if the CC co. did not inform you in writing of the T&C change, as they must for you to have the option want to continue with the card,  you could have objected, but ofcourse they'd just say bug of then i suppose...

 

dx

 

[mantis shrimp]

You have posted this elsewhere. I say this simply to point out that you have used a different username. If your usernames have any relation to your actual name, then it may be possible for someone else who makes that connection to have a guess at your actual name. 

 

I could of course be way off the mark! 

Edited May 29, 2022 by mantis shrimp

[fletch70]

Thank you of the heads up but casual readers will not be able to identify me from my usernames. Different places give different perspectives, to be honest, some can be quite judgemental some less so. 

 

I appreciate I will probably get nowhere but I would like an explanation if only so that, if they have found my actions suspicious, I can refrain from doing it again.

 

If Virgin money had told me they had also changed the terms of my current account so there were no non sterling transaction fees, I would probably have been fine. It's not spending on credit that is important, it's avoiding fees and lining the pockets of the banks that is.

 

I have been under considerable stress and anxiety relatively recently and this has been quite triggering. The irony being I am in a more stable financial and personal situation than I have been my entire adult life - I feel more affluent (remember affluence is relative ) than I ever have. 

[fletch70]

Does anyone have contact details for Virgin money when sending a DSAR. I can not find anything on the website apart from a privacy policy. 

 

Thanks

[dx100uk]

Jubilee house

Newcastle 

 

I think.

 

Check the fca register

 

Dx

[stu007]

Virgin Money Personal Financial Service Limited
Jubilee House
Gosforth
Newcastle-Upon-Tyne
NE3 4PL

 

FCA Register Link:

NewRegister

REGISTER.FCA.ORG.UK

 

Companies House Link: 

VIRGIN MONEY PERSONAL FINANCIAL SERVICE LIMITED overview - Find and update company information - GOV.UK

FIND-AND-UPDATE.COMPANY-INFORMATION.SERVICE.GOV.UK

---

VIRGIN MONEY PERSONAL FINANCIAL SERVICE LIMITED - Free company information from Companies House including registered office address...

 

 

[fletch70]

Thanks- that has pointed me in the right direction. I don't think it's Virgin Money Personal Financial Services as that appears to be the insurance arm of the business , but as I say in the right direction.

[Ethel Street]

Have a look at this website..  Looks like 'Virgin Money' isn't a company itself  but is one of the brand names/trading names of Virgin Money UK PLC. At the bottom of website it shows its Registered Office as Jubilee House but its Head Office is in Glasgow.

 

Corporate profile | About us | Virgin Money PLC (virginmoneyukplc.com)

 

However the Virgin Money Privacy Policy tht you referred to does answer your question:

 

13. Contacting us for further information

You can contact us at any time to discuss how to exercise your data protection rights by emailing us at [email protected] To discuss how we hold and use your information, please contact us by email at [email protected] or by post at Group Data Protection Officer, Group Risk, Level 3, 51 West George Street, Glasgow G2 2JJ.

[fletch70]

I think I have written about my disputes with VM. They closed my account without explanation followed by both my credit cards. The account closure is currently with the Ombudsman after the investigator did not uphold my complaint.

Anyway- on the credit card section of both credit karma and clear score I am showing as pre approved for VM credit cards. Now you might think, why the hell would I want to be involved with such a rubbish company but a back up travel credit card would be useful - I have a metro bank one but it failed on my last holiday in Europe and I had to use my debit card. 

Does pre approved 100% likely mean I will get a card or will it then show as a rejection and mess up my credit score?