- 0% p.a. for 18 months on balance transfers with 2% balance transfer fee. Reverts to cash advance rate
- $99 annual fee
- Low purchase rate of 11.99% p.a.
- Eligible with Samsung Pay
Who says good things don’t come in small packages? With the Virgin Money Low Rate Credit Card you can enjoy a pretty darn awesome introductory offer on balance transfers, all wrapped up into one unassuming low rate card.
With heaps of goodies to be uncovered, this is one credit card offer that’s definitely worth checking out. So, without further ado, let’s get into it.
When it comes to low rate credit cards, you’ll usually find many are no nonsense options that allow you to enjoy low rates, but not much else. But, not this little card.
Sure, it may be lacking certain premium features such as a 24-hour concierge service or VIP airport lounge access, but that doesn’t mean it hasn’t got plenty of other great qualities to keep you happy.
First up, there’s that introductory offer on balance transfers. If you happen to have credit card debt on other cards outside of the Citi group, you may be able to take advantage of the Virgin Money Low Rate Credit Card’s balance transfer offer.
With this offer, you can get 0% p.a. on balance transfers for the first 18 months, giving you a bit of time to pay down that debt, while enjoying some breathing space from interest. However, there is a one off 2% balance transfer fee that applies.
As with any credit card application, it pays to read the small print before signing on the dotted line. While the balance transfer offer provides a very nice 0% p.a. for 18 months with a 2% balance transfer fee, it is worth noting that any unpaid transfer amount will revert to the cash advance rate at the end of the introductory period.
Even if you don’t need the balance transfer offer, there are still plenty of reasons why you might want this card in your wallet. Of course, you can enjoy a low rate on purchases on a credit card with a reasonable annual fee.
You can also take advantage of a number of other features, such as up to 55 days interest free on purchases, irregular transaction detection with FraudShield, Visa Zero Liability and 24/7 account access. Want another cardholder on the account? That’s yours for an additional fee of $29.
A lovely low rate card with an even lovelier introductory offer on balance transfers.
Purchase rate 11.99% p.a.
Cash advance rate 21.69% p.a.
Interest free period on purchases up to 55 days
Balance transfer rate 0% p.a. for 18 months
Balance transfer revert rate 21.69% p.a.
Balance transfer from personal loan Yes
Balance transfer fee 2% one off
Balance transfer limit 80% of approved credit limit
Banks you can't balance transfer from Bank of Queensland, Citi, Coles, IMB, Qantas Money, Suncorp, Virgin Money
Minimum credit limt $6,000
Maximum credit limit $100,000
Annual fee $99 p.a.
Additional card holder fee $29 p.a.
Foreign transaction fee 3.3%
Minimum repayment $30 or 2%
Cash advance fee 2.7%
Late payment fee $10
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Eligible with Samsung Pay
An obvious choice as a low rate credit card with $99 annual fee. If you currently have credit card debt outside of the Citi group you can get 0% p.a. on balance transfers for the first 18 months with a 2% balance transfer fee (reverts to cash advance rate). Other features include up to 55 days interest free on purchases, irregular transaction detection with FraudShield, Visa Zero Liability and 24/7 account access.
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Resident or citizen of Australia
Minimum income of $35,000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
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