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Virgin Money No Annual Fee Credit Card

15 reviews

Apply by 30 June 2019

Purchase rate

18.99% p.a.

Balance transfer

6.9% 36 months
6.9% Complete (success)
reverts to 20.99% p.a. No BT fee

Annual fee

$0 p.a.
0% Complete (success)

Pros

6.9% p.a. on balance transfers for the first 36 months

No annual fee

Up to 4 additional cards at no extra cost

Cons

Any unpaid amount on the balance transfer reverts to the cash advance rate - so make sure you pay the balance off in full during the intro period

Virgin Money No Annual Fee Credit Card

A great way to save money, the Virgin Money No Annual Fee Credit Card has launched a new offer, 6.9% for 36 months on balance transfers plus, you will pay no annual fee, ever! As a cardholder, you can also take advantage of up to 44 days interest free on purchases (if you pay off your balance in full each month), irregular transaction detection with FraudShield, 24/7 account access, Visa Zero Liability, access to Virgin Family benefits and Visa PayWave technology. You can also share your card with up to 4 loved ones and they’ll also enjoy $0 annual fee for life. Offer ends 30 June 2019.

Key features

  • 6.9% p.a. on balance transfers for the first 36 months
  • No annual fee
  • Up to 4 additional cards to share with loved ones and they'll also enjoy $0 annual fee.
  • Irregular transaction detection with FraudShield
  • Visa Paywave
  • VISA Zero Liability
  • Up to 44 days interest free on purchases
80% of customers who have rated this card would recommend it
  • Rates
    70%
  • Fees
    81%
  • Rewards
    N/A
  • Customer Service
    78%
  • Value
    69%
Overall user rating 76%
15 reviews

68% Visitor

Good way to pay off old credit card debts – you get 6 months to pay off your transferred balance plus you don’t have to pay an annual fee. Great ongoing card as well – you get some good extras and never have to worry about annual fees.

Recommends this card

Interest Rates
Purchase rate 18.99% p.a.
Cash advance rate 20.99% p.a.
Interest free on purchases up to 44 days
Balance Transfer
Balance transfer rate 6.9% p.a. for 36 months
Balance transfer fee No fee
Balance transfer revert rate 20.99% p.a.
Balance transfer limit 80% of your approved new credit limit
Balance transfer from personal loan Yes
Banks you can't balance transfer from Bank of Queensland ,Citi ,Coles ,IMB ,Qantas Money ,Suncorp ,Virgin Money
Credit limits
Minimum credit limit $2,000
Maximum credit limit N/A
Fees & repayments
Annual fee $0 p.a.
Additional cardholder fee Up to 4 - $0 p.a.
Cash advance fee 2.7%
Foreign transaction fee 3.3%
Minimum repayment $30 or 2%
Late payment fee $10
Credit card type Visa
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No

The Virgin Money No Annual Fee Credit Card

As its name would suggest, the Virgin Money No Annual Fee Credit Card has no annual fee. Designed to be a money-saver, this card charges no annual fee for the life of the card, providing cardholders with access to credit, a few standard security and payment features, plus a super-long balance transfer offer, with 6.9% p.a. on balance transfers for 36 months.

What we love...

Of course, the standout feature on the Virgin Money No Annual Fee Credit Card is the absence of an annual fee. While it may not be as exciting as some other credit card features – such as bonus rewards points or free flights – this feature could help you save some serious money. So, instead of paying hundreds of dollars each year as you would with some cards, with this card you pay zip.

Want to add your partner or another family member to your account? No problem. You can add additional cardholders at no extra cost. This not only helps to keep costs to a minimum, it can also simplify family finances. It is worth remembering though, that as the primary accountholder, you are liable for all additional cardholder spending.

Anything else on offer? The Virgin Money No Annual Fee Credit Card just so happens to have a super long balance transfer, providing new cardholders with 6.9% p.a. on balance transfers for 36 months. While it may not be the lowest rate on the market, it could help you save on interest, while you work on paying off your transferred balance over that three year period.

To be eligible, you must apply and be approved by 30 June 2019.

What’s not so great...

With no annual fee cards, features aren’t usually in abundance. The Virgin Money No Annual Fee Credit Card is no exception. It has the basic security and payment features offered on most Visa cards, and its balance transfer offer. Apart from that, this simply acts as a money-saver. So, if you’re looking for a credit card with all the bells and whistles, you’ll need to look elsewhere.

Looking more closely at that balance transfer, it’s worth noting that cardholders can only transfer up to 80% of their approved credit limit, which may cause issues for some. In addition, if any of the transferred balance remains after the intro period ends, it will revert to the card’s higher cash advance rate. But with 36 months to work with, hopefully this wouldn’t be an issue.

Why should you choose this card?

There are many reasons why you may want a no annual fee card such as the Virgin Money No Annual Fee Credit Card. Some cardholders simply don’t believe that they should pay an annual fee to keep a credit card in their wallet. For these cardholders, a card with no annual fee is the only option they’ll consider.

However, a no annual fee card can also work well for cardholders who are looking for a way to save money. By choosing a card like the Virgin Money No Annual Fee Credit Card, they can enjoy access to credit, while keeping costs to a minimum. Similarly, a card like this can work well for cardholders who rarely use their card, and keep one only for emergencies.

With a long balance transfer offer, a no annual fee card makes good sense. You may choose to apply for the Virgin Money No Annual Fee Credit Card, transfer the balance and then put the card away, simply using it to save on interest while you pay off the balance. In this way, you are saving on annual fees and on interest, which could help you pay off your debt even faster.

While the Virgin Money No Annual Fee Credit Card doesn’t offer any truly exciting features apart from its money-saving capabilities, it does offer some functional extras cardholders may find handy. These include up to 44 days interest free on purchases (not offered when there is a balance on the card), Visa PayWave and fraud protection, and compatibility with Samsung Pay.

Overall Rating

A basic, no frills card, the Virgin Money No Annual Fee Credit Card can help you save on annual fees, while taking advantage of standard card features and 6.9% p.a. on balance transfers for 36 months.

223 questions (showing the latest 10 Q&As)

John

John

2 February 2019
If I use this card to pay for a flight on Virgin, will i still be charged their Credit Card surcharge?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 February 2019
    Hi John, I believe you will still need to pay the surcharge even with this Virgin credit card.
Tyson

Tyson

10 January 2019
What is the minimum income to be approved for a credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 January 2019
    Hi Tyson, the minimum income to apply for the Virgin Money no annual fee credit card is $25,000 p.a.
Meg

Meg

28 May 2018
Hi,I have a well paid job $100,000 + pa and have just got a mortgage approved with AMP, however I have been affected by bad credit rating before. I didn’t realise I had a black mark from a default on my account so made approximately 15 applications for credit over the last five years. They were of course rejected. Ive since paid to have default removed and stopped making applications. However I want to apply for a credit card balance transfer for approx $12,000 worth of CC and Personal loan debt. My credit score has is about 470. I am just wondering if there are any cards that may not have automatic rejections for a large number of enquiries? Or ones that would be lenient with the lower scores? I don’t want to make applications directly with Virgin or Citi bank which I know take the personal loan as I may be rejected and worsen my score, so any information about best options for balance transfer cards would be great.I have recently (post black mark being lifted) been rejected by Citi bank trying to balance transfer the $4000 credit card debt plus $8000 personal loan and can only assume It was due to too many previous applications. They wouldn’t provide any further details. I have no issue paying bills now but really want to minimise the interest payments.I’m happy to discuss at any time,Thanks,Meg
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 May 2018
    Hi Meg, when was the last time you made a credit application? If you were recently rejected from Citi this does should like an issue. Unfortunately there are no credit card lenders that are more lenient to lower credit scores. Most require good credit for approval. Citi are the only issuer in Australia that will accept loan debt. Bottom line, it sounds like you need to have a break from applying for credit. I would look to try with another application in around 6 months time from your last application.
  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Resident or citizen of Australia
  • Minimum income of $25,000 p.a.
  • You have your personal details ready to complete the online application
Virgin Money No Annual Fee Credit Card
Virgin Money No Annual Fee Credit Card

Virgin Money No Annual Fee Credit Card

Updated 30 April 2019

Apply by 30 June 2019

Purchase Rate (p.a)

18.99%

Balance Transfer (p.a)

6.9% for 36 months No BT fee. reverts to 20.99% p.a.

Annual Fee (p.a)

$0

$0 over 36 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 6.9% p.a. on balance transfers for the first 36 months
  • No annual fee
  • Up to 4 additional cards at no extra cost

  • Any unpaid amount on the balance transfer reverts to the cash advance rate - so make sure you pay the balance off in full during the intro period

Creditcard.com.au review

Editor Review

The Virgin Money No Annual Fee Credit Card

As its name would suggest, the Virgin Money No Annual Fee Credit Card has no annual fee. Designed to be a money-saver, this card charges no annual fee for the life of the card, providing cardholders with access to credit, a few standard security and payment features, plus a super-long balance transfer offer, with 6.9% p.a. on balance transfers for 36 months.

What we love...

Of course, the standout feature on the Virgin Money No Annual Fee Credit Card is the absence of an annual fee. While it may not be as exciting as some other credit card features – such as bonus rewards points or free flights – this feature could help you save some serious money. So, instead of paying hundreds of dollars each year as you would with some cards, with this card you pay zip.

Want to add your partner or another family member to your account? No problem. You can add additional cardholders at no extra cost. This not only helps to keep costs to a minimum, it can also simplify family finances. It is worth remembering though, that as the primary accountholder, you are liable for all additional cardholder spending.

Anything else on offer? The Virgin Money No Annual Fee Credit Card just so happens to have a super long balance transfer, providing new cardholders with 6.9% p.a. on balance transfers for 36 months. While it may not be the lowest rate on the market, it could help you save on interest, while you work on paying off your transferred balance over that three year period.

To be eligible, you must apply and be approved by 30 June 2019.

What’s not so great...

With no annual fee cards, features aren’t usually in abundance. The Virgin Money No Annual Fee Credit Card is no exception. It has the basic security and payment features offered on most Visa cards, and its balance transfer offer. Apart from that, this simply acts as a money-saver. So, if you’re looking for a credit card with all the bells and whistles, you’ll need to look elsewhere.

Looking more closely at that balance transfer, it’s worth noting that cardholders can only transfer up to 80% of their approved credit limit, which may cause issues for some. In addition, if any of the transferred balance remains after the intro period ends, it will revert to the card’s higher cash advance rate. But with 36 months to work with, hopefully this wouldn’t be an issue.

Why should you choose this card?

There are many reasons why you may want a no annual fee card such as the Virgin Money No Annual Fee Credit Card. Some cardholders simply don’t believe that they should pay an annual fee to keep a credit card in their wallet. For these cardholders, a card with no annual fee is the only option they’ll consider.

However, a no annual fee card can also work well for cardholders who are looking for a way to save money. By choosing a card like the Virgin Money No Annual Fee Credit Card, they can enjoy access to credit, while keeping costs to a minimum. Similarly, a card like this can work well for cardholders who rarely use their card, and keep one only for emergencies.

With a long balance transfer offer, a no annual fee card makes good sense. You may choose to apply for the Virgin Money No Annual Fee Credit Card, transfer the balance and then put the card away, simply using it to save on interest while you pay off the balance. In this way, you are saving on annual fees and on interest, which could help you pay off your debt even faster.

While the Virgin Money No Annual Fee Credit Card doesn’t offer any truly exciting features apart from its money-saving capabilities, it does offer some functional extras cardholders may find handy. These include up to 44 days interest free on purchases (not offered when there is a balance on the card), Visa PayWave and fraud protection, and compatibility with Samsung Pay.

Overall Rating

A basic, no frills card, the Virgin Money No Annual Fee Credit Card can help you save on annual fees, while taking advantage of standard card features and 6.9% p.a. on balance transfers for 36 months.

User reviews

Virgin Money No Annual Fee Credit Card ( based on 15 Creditcard.com.au user reviews )

76% rating based on 15 reviews

Rates
Fees
Rewards
Customer Service
Value
68%

CreditCard.com.au Visitor

28 January 2013

Good way to pay off old credit card debts – you get 6 months to pay off your transferred balance plus you don’t have to pay an annual fee. Great ongoing card as well – you get some good extras and never have to worry about annual fees.

Recommends this card

Rates and fees

Interest rates

Purchase rate 18.99% p.a.

Cash advance rate 20.99% p.a.

Interest free on purchases up to 44 days

Balance transfer

Balance transfer rate 6.9% p.a. for 36 months

Balance transfer revert rate 20.99% p.a.

Balance transfer from personal loan Yes

Balance transfer fee No fee.

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

Credit limits

Minimum credit limt $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $0 p.a.

Additional card holder fee Up to 4 - $0 p.a.

Foreign transaction fee 3.3%

Minimum repayment $30 or 2%

Cash advance fee 2.7%

Late payment fee $10

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Overview

Virgin Money No Annual Fee Credit Card

A great way to save money, the Virgin Money No Annual Fee Credit Card has launched a new offer, 6.9% for 36 months on balance transfers plus, you will pay no annual fee, ever! As a cardholder, you can also take advantage of up to 44 days interest free on purchases (if you pay off your balance in full each month), irregular transaction detection with FraudShield, 24/7 account access, Visa Zero Liability, access to Virgin Family benefits and Visa PayWave technology. You can also share your card with up to 4 loved ones and they’ll also enjoy $0 annual fee for life. Offer ends 30 June 2019.

Key features

  • 6.9% p.a. on balance transfers for the first 36 months
  • No annual fee
  • Up to 4 additional cards to share with loved ones and they'll also enjoy $0 annual fee.
  • Irregular transaction detection with FraudShield
  • Visa Paywave
  • VISA Zero Liability
  • Up to 44 days interest free on purchases

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia

  • Minimum income of $25,000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

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.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

223 questions (showing the latest 10 Q&As)

John

John

2 February 2019
If I use this card to pay for a flight on Virgin, will i still be charged their Credit Card surcharge?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 February 2019
    Hi John, I believe you will still need to pay the surcharge even with this Virgin credit card.
Tyson

Tyson

10 January 2019
What is the minimum income to be approved for a credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 January 2019
    Hi Tyson, the minimum income to apply for the Virgin Money no annual fee credit card is $25,000 p.a.
Meg

Meg

28 May 2018
Hi,I have a well paid job $100,000 + pa and have just got a mortgage approved with AMP, however I have been affected by bad credit rating before. I didn’t realise I had a black mark from a default on my account so made approximately 15 applications for credit over the last five years. They were of course rejected. Ive since paid to have default removed and stopped making applications. However I want to apply for a credit card balance transfer for approx $12,000 worth of CC and Personal loan debt. My credit score has is about 470. I am just wondering if there are any cards that may not have automatic rejections for a large number of enquiries? Or ones that would be lenient with the lower scores? I don’t want to make applications directly with Virgin or Citi bank which I know take the personal loan as I may be rejected and worsen my score, so any information about best options for balance transfer cards would be great.I have recently (post black mark being lifted) been rejected by Citi bank trying to balance transfer the $4000 credit card debt plus $8000 personal loan and can only assume It was due to too many previous applications. They wouldn’t provide any further details. I have no issue paying bills now but really want to minimise the interest payments.I’m happy to discuss at any time,Thanks,Meg
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 May 2018
    Hi Meg, when was the last time you made a credit application? If you were recently rejected from Citi this does should like an issue. Unfortunately there are no credit card lenders that are more lenient to lower credit scores. Most require good credit for approval. Citi are the only issuer in Australia that will accept loan debt. Bottom line, it sounds like you need to have a break from applying for credit. I would look to try with another application in around 6 months time from your last application.

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