How to cancel a Virgin Money credit card?

No longer use your Virgin Money UK credit card? Perhaps you’ve spotted a better deal with another provider. Or you used the card for a one-off purchase and have finally paid off the balance.

Whichever is the case, this guide is for you. Read on for a step-by-step guide to cancelling your Virgin Money credit card. We’ll also cover how to pay Virgin Money credit card balances, and how to temporarily deactivate your card if you lose it.

And, if you’re looking for a new card, especially for spending outside the UK, check out the Wise debit card. It’s a debit card designed for making low-cost payments and ATM withdrawals both in the UK and abroad.

Learn more about the Wise debit card

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

But right now, let’s get that Virgin Money card cancelled for you.

Reasons for cancelling a Virgin Money credit card

There are lots of reasons you might want to close your Virgin Money account. For example:

• You may have found a new, better or cheaper deal at another UK bank
• You no longer need to use a credit card - for example, you used it to spread the cost of a large purchase, which has now been paid off.
• Your current card has a time-limited offer which is coming to an end
• Your card is lost or stolen.

What you should know and do before cancelling your credit card with Virgin Money?

Before you contact Virgin Money to cancel your card, you’ll need to fully pay off the balance. It’s not possible to close a credit card with the bank if there’s a balance outstanding. We’ll show you a choice of ways to make payments in just a moment.¹

The bank also recommends that you change your payment details for any subscriptions that you currently pay for with your credit card. For example, TV streaming services, magazine subscriptions or insurance products.¹

And lastly, you might want to download your statements before closing your account. There’s a chance you won’t have access to them later on.

How to pay off your Virgin Money credit card balance?

You have a choice of options with Virgin Money to pay off a credit card balance. This includes:²

• Direct Debit - let your existing monthly payments keep running until the outstanding balance has been cleared
• Debit card
• Transfer from your bank account
• Cheque - post a cheque payable to Virgin Money including your 16-digit credit card number to: Clydesdale Bank PLC Bulk, Ground Floor Bering House, Mariner Court, Clydebank Business Park, G81 2NR.

How to cancel a Virgin Money UK credit card online, over the phone, or by post?

There’s only one way to cancel a Virgin Money credit card and that is to fill in an online form. However, you can always visit your local branch and ask if you can complete a paper form.¹

Follow these steps:¹

1. Make sure you’ve cleared your balance
2. Have your personal details and 16-digit credit card number to hand
3. Go to the online form on the Virgin Money website
4. You can also access this form through the Virgin Money credit card app. Go to ‘More’ from the menu at the bottom, then select ‘Account Management’. Scroll down until you find the option to close an account.
5. Follow the on-screen steps to cancel your card.

How to temporarily deactivate your Virgin Money credit card online if it’s lost or stolen?

Lost your card? Your first instinct might be to cancel it, especially if you’re worried it’s been stolen.

But while you look for your lost card, you can put a temporary freeze on it. This gives you time to track down your card, while also preventing unauthorised people from using it.

The easiest way to temporarily deactivate your card is in the Virgin Money mobile banking app. Simply follow these steps:³

1. Sign in to the app
2. Tap the card image
3. Select the card you’d like to freeze, and tap the “Freeze this card” button below to put a temporary block on it
4. To unfreeze the card, simply tap the toggle button again

If your Virgin Money credit card has been stolen or you definitely can’t find it, you’ll need to tell the bank right away. You can do this in the app, selecting ‘Report card lost or stolen’. The card will be cancelled and a new one issued.⁴

How to reactivate a lost Virgin Money credit card?

If you manage to find your lost Virgin Money card, you can simply go back into the mobile app and unfreeze it using the steps above.

If you’ve cancelled it though, you won’t be able to reactivate it. You’ll need to sign up for a new card.

How to securely dispose of a cancelled Virgin Money credit card?

Once your credit card has been cancelled, you’ll need to dispose of it properly. You should cut it into pieces or shred it, making sure that the chip is destroyed. Then, dispose of the pieces in separate bins.

FAQ

How long does it take to close a Virgin Money credit card?

Virgin Money doesn’t say specifically how long it takes for a credit card to be cancelled. But you can make the initial request really quickly, by completing the short online form.

Is there a penalty for closing a Virgin Money credit card?

Virgin Money doesn’t charge fees for closing a credit card account.

Can I close a Virgin Money credit card and keep paying on it?

No, Virgin Money requires you to completely pay off any outstanding balance before you can close a credit card.¹

And that’s it - everything you need to know on how to cancel a Virgin Money credit card. It’s pretty easy to do, as there’s just one online form to complete.

Ready for a new card, perhaps for an upcoming trip? Some credit cards can be great for travel, but they aren’t always the cheapest.

The Wise debit card is a great alternative. It’s not a credit card, but it is tailor-made for travel.

It automatically converts your pounds to the local currency when you spend abroad, for just a tiny currency conversion fee. And you’ll always get mid-market exchange rates, with no costly margin added on top.

Register with Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sources used:

Sources last checked on date: 13-Jul-2023