Virgin Money and Virgin Atlantic customers:
No you can’t change the term of the instalment plan once it is set up.
Once you have set up your instalment plan then this will be fixed. You should make sure that you can afford the payments that you have selected for the term length of your plan. If you miss an instalment plan then the amount you didn't pay will be moved in to the standard credit card balance where it may be subject to interest.
If your plan has to be cancelled then you will not be able to put that transaction back into another plan and any outstanding instalment balance you had will be moved in to the standard credit card balance where it will be subject to interest.
Virgin Money Slyce customers:
If you have a 3, 6 or 9 month instalment plan, you can reduce your monthly payments by switching to the Minimum Payment amount - this is the lowest possible amount you need to pay each month.
This moves all your existing instalment plans onto a 12 month plan, with a fee. Once you switch to the Minimum Payment, you won't be able to make any further changes to the length of your plan. If you originally started with a 12 month instalment plan, you won't able to switch this to a shorter plan. Although paying the minimum may seem like a good option, it will take longer and is the most costly way of paying off what you owe. Paying more than the minimum helps you save money on the overall cost and can help you pay off what you owe faster.
You can choose to pay your balance back quicker by making extra payments whenever you want and we never charge you a fee for this. This applies to all plan lengths.