If you’ve seen a “suggested payment” on your Virgin Money Credit Card statement, it’s an optional amount to help you pay off your balance faster and reduce the interest you’ll pay overall. It's only available to eligible customers who have cards applied for before October 1st 2024. Cards applied for after this date have this as their contractual minimum.
The suggested minimum payment is whichever is greater:
• 2% of your total balance; or
• An amount equal to:
• double that month’s interest plus double any default charges due or
• £25, or the whole balance shown if it is less (the whole balance shown on your statement)
How to make the suggested payment
The easiest way to pay it is by Direct Debit. Just open the Virgin Money Credit Card app, tap ‘Payments’, and follow the steps to set one up. If you already have a Direct Debit, you can update it by tapping ‘Payments’ and then ‘Manage regular payments’.
Prefer to pay a different way? That’s totally fine. Just check your statement each month and pay the suggested amount using your usual method.