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There are multiple ways to take care of your credit card payments. The easiest way to manage your payments is to set up a Direct Debit in the Virgin Money Credit Card app. Once this is set up we manage this for you to ensure all payments needed are taken by the due date.
Virgin Money or Virgin Atlantic Credit Card customers:
Direct Debit:
If you have a Direct Debit set up on your credit card then you do not need to do anything further. We will automatically amend any payments due, prior to the due date, to ensure your requested payment is collected.
To check if you have a Direct Debit set up you can see this on the 'manage regular payments' section on the payments tile within the app.
Faster Payments:
If you choose to pay manually from your bank account or through the Virgin Money Credit Card app, please remember to pay at least the Requested Payment amount shown at the top of your statement, so you can cover both your minimum payment and the payments needed to keep up to date with your instalment plans.
If you choose to pay more than your Requested Payment or choose to make payments throughout the month, please ensure any transactions you are trying to pay are showing on your statement. Remember, we allocate payments to balances on your statement before any new transactions that are yet to appear. If you do this and your transactions are not on your statement you may repay your instalment plan early.
Virgin Money Slyce customers:
By setting up a Direct Debit your Requested Payment will always be taken and your plans will stay on track. By accessing the mobile app during the payment option window. If you can, you also have the ability to pay extra each month by Direct Debit if you wish, this will help to reduce your overall balance, term and save money on fees, if you've chosen a 9 or 12 month plan.
Your credit card statement explained
A credit card statement contains details of all your balances, including Instalment plans. The ‘Your interest explained’ section shows you outstanding balances for things like purchases and balance transfers, alongside their associated annual interest rates. The section ‘A closer look at your Instalment plans’ displays the monthly payments for any Instalment plans you have set up.
Any payments that you make to your credit card that are above your Requested Payment, will be used to pay the credit card balances on your statement first. If these are cleared and there’s anything left over, that money will go towards new transactions made since the statement was created.
Balances are paid off in order, starting with those with the highest interest rate and finishing with balances with the lowest interest rate.