This article is for the following products:
Virgin Money and Virgin Atlantic Credit Cards
- At each stage, we pay off balances with the highest interest rate first, before repaying those on lower interest rates. This doesn’t apply to instalment plans.
- Where we charge interest on multiple promotional balances at the same rate, we will pay off the balances in the order that the promotional rate is due to end (for example, a balance transfer that is due to end in two months’ time will be paid off before another that ends in six months’ time).
- Where promotional rates end at the same time, we will pay off the balances in the following order: Money Transfers, Balance Transfers, and then Card Purchases.
- Instalment plans are paid off in the order they are due to end.
- Where instalment plans end at the same time, we will pay off the plans in the following order: Money Transfers, Balance Transfers, and then Card Purchases.
- Any additional payments put towards an instalment plan will go to the final payment of the instalment plan, then to the payment before that and so on working backwards.
Virgin Money Slyce Credit Cards
- Each month your payment option window opens when you receive your monthly statement. We'll let you know in the Virgin Money Credit Card app (and also by email). This is where you tell us what you want to do with your monthly balance either by paying it off in full or putting it into an instalment plan.
- To make sure you stay on track with your repayments, every month we ask you to pay your Requested Payment. This includes the total of all your existing instalment plans and any applicable fees (for 9 and 12 month plans). It will also include any extra payments you have chosen to make during the payment option window.