Virgin Money Credit Cards

About Virgin Money

Here in Australia, we were the first country outside of Virgin Money’s UK headquarters to carry the Virgin Money brand of credit cards. Today, Virgin Money offers a full suite of consumer banking products, ranging from savings accounts to car insurance and superannuation.

The Virgin Money product range is linked to the Velocity Rewards program. It also includes a no annual fee card and a low rate card. Thanks to its relationship with NAB, you can transfer a personal loan balance onto a Virgin Money credit card—but you won’t be able to earn points on that transfer.The Virgin Group has also been a strong supporter of credit card transparency and reform within the Australian market. This includes advocating for clearer disclosure of fees and charges upfront, as well as improved, more detailed information on monthly statements.

History

Virgin Money has now offered credit cards in the Australian market for a number of years—since 2003, in fact. Australia was the first country in which Virgin Money chose to operate outside the UK. The group has seemingly gone from strength to strength in the Australian financial market and, in 2011–2012, expanded into the insurance and mortgage sectors. Car insurance, life insurance, superannuation, and savings accounts are already offered. While the home loans business has launched, Virgin Money has partnered with Bank of Queensland Limited to support those looking for a new home loan.

Sir Richard Branson, the Virgin Group’s outspoken founder and face of the brand, has declared his intention to make Virgin Money a full-service bank, with plans already well underway in the UK. In 2009, Virgin Money merged with UK bank Northern Rock, and in 2010, it purchased Church House Trust—considered one of the major steps toward becoming a bank.

Virgin Credit Cards

Operating in Australia, the UK, the USA, and South Africa, Virgin Money is a financial services provider under the umbrella of the Virgin Group. Committed to delivering great-value products and giving customers what they truly want, Virgin is an excellent choice for a credit card provider.

If you're looking for an affordable credit card, consider the Virgin Money No Annual Fee Card or the Virgin Money Low Rate Card. With the first option, you'll never pay an annual fee; with the second, you can enjoy low ongoing interest rates.

If you're more of a points collector, the Velocity Flyer and Velocity High Flyer cards will keep the points coming. They offer 0.66 and 1 point per dollar spent, respectively, with annual fees that reflect their points-earning potential.

Who underwrites Virgin Money credit cards in Australia?

Credit card products in Australia are distributed by Virgin Money Australia under an agreement with NAB. This remains the case even after Virgin Money was acquired by the Bank of Queensland in 2013.