Virgin Money and Virgin Atlantic customers:
If you miss an instalment plan payment, the amount you did not pay will be moved into your standard credit card balance.
It won’t be recorded as a late payment and you will not be charged any fees for missing the payment. The amount you’ve missed will be added onto your standard credit card balance and you will have to pay interest on it. We will never charge interest on any instalment plan fees.
If you miss or underpay three instalment plan payments, then all instalment plans that were active during the three missed payments will be cancelled. If that happens, the outstanding amount of the plan will move to your standard credit card balance and interest will apply (apart from on any instalment fees).
You won’t be able to move any transactions from a cancelled plan into a new instalment plan.
Virgin Money Slyce customers:
If you miss a payment, don't panic, you won't ever be charged a late fee with Slyce but it's very important you pay back as soon as possible as a missed Requested Payment will impact your existing plan lengths.
We'll let you know in the app and by email that it's late. You'll have 10 extra days to make your Requested Payment. It's important to make this payment as soon as you can to avoid all your existing instalment plans switching to the Minimum Payment amount (equivalent to a 12 month instalment plan, with a fee). Paying the minimum takes longer and is the most costly way of paying off what you owe.
When we switch your instalment plans, we'll do it in line with the process set out in section 8.5 of your Terms.