Virgin Reward+ annual fee full year charge

[Rayaray]

Hi

I’ve had the free Virgin credit card for many many years and in January upgraded to the reward+ (6 months into my year). What I didn’t realise is that it’s Virgin’s policy to charge a full year annual fee even if you upgrade part way through the year.

Does this seem fair? Has anyone successfully argued it with Virgin?

Thanks!

[freckles]

Pretty sure this just fee is for the next 12 months and not just the remaining 6 of your year (presume this is what you are alluding to).

Amex do exactly the same when you upgrade to the premium plus card – my spending year still runs May-May in accordance with when I first took the card out, but my subscription fee is charged annually in February which is when I upgraded.

[Froggee]

They give you additional Virgin points for spend in the prior six months and how they charge the fee is disclosed so seems fair enough to me. The spend target changes to £10k also.

If you didn’t want this then why upgrade mid year?

[C2K77]

TLDR. They have to prove to you ‘rest of year’ rather than for 12 months. If it’s changed since entering the agreement they must provide evidence that they notified you of these changes and did so in a time period that meets legal requirements. If they can’t then they’ve, potentially, committed a technical breach of the terms you both agreed to and can be referred to the relevant regulatory bodies for investigation and recourse

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Rambling but useful if they ignore their Obligations bit:; Banks and lenders often rely on consumer ignorance of the institutions legal obligations & BCoP commitments most of them agree to be bound to.

It’s a credit card so will be covered by the appropriate Act. Any terms must be clearly visible on any marketing physical or digital. You must be provided with a full copy of your credit agreement including the complete terms and conditions and it is a legal requirement for any “important” terms to be clearly highlighted. In physical form they should be formatted in a bold text compliant with the approved Font list. In digital form and as a minimum standard formatting must be of presented in a matching format( unless technically not possible but still from the AFL).It is recommended digital copies are delivered in an easily accessible file type that will ensure the consumer will be presented with “important” terms.

A copy of the ORIGINAL Credit agreement must be provided to the consumer upon request and in their preferred format if given. This must be supplied without cost or charge to the consumer and at any time they make the request without limit to the number of requests.

A copy of the ORIGINAL Credit Agreement must be retained for a period of SEVEN years after the consumer or authorised credit lender terminate end the agreement.

Authorised credit lenders must present the original agreement ( copy) upon demand to any Statutory Body and/or authorised 3rd party acting on behalf of the consumer. This must show the consumers signature ( wet or digital). Inability to produce the document is grounds to challenge the validity of the agreement.