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Virgin Money No Annual Fee Credit Card
Virgin Money No Annual Fee Credit Card

Virgin Money Credit Cards

Virgin Money No Annual Fee Credit Card

Updated 1 March 2024

Save money with 0% p.a. for 12 months on purchases and balance transfers when you apply for a new card by 4 March 2024, plus no annual fee for life! Add up to four additional cards at no extra cost. Enjoy security features including Fraudshield and Visa Zero Liability as well as payment features like Apple Pay and Samsung Pay. T&Cs apply.

Purchase Rate (p.a)

0% p.a.

for 12 months. Reverts to 18.99% p.a.

Balance Transfer (p.a)

0% for 12 months No balance transfer fee.
Reverts to 20.99% p.a.

Annual Fee (p.a)

$0

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 12 months. Reverts to cash advance rate.
  • 0% p.a. for 12 months on purchases. Reverts to 18.99% p.a.
  • No annual fee
  • Up to 4 additional cards at no extra cost
  • Irregular transaction detection with FraudShield
  • Visa Paywave
  • VISA Zero Liability
  • Up to 55 days interest free on purchases
  • Eligible with Apple Pay and Samsung Pay

  • 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

Virgin Money No Annual Fee Credit Card

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

The Virgin Money No Annual Fee Credit Card

Want to save money on your credit card? With the Virgin Money No Annual Fee Credit Card, you can. In the world of credit card savings, this card is a triple threat. Not only does it save you on annual fees – with no annual fee for life – it also currently has a very tempting offer on purchases and balance transfers.

Yep, if you apply for the Virgin Money No Annual Fee Credit Card today, you could benefit from 0% p.a. on both purchases and balance transfers for 12 long months.

What we love…

Let’s get into that purchase offer first. Happily, purchase offers are pretty simple. After you are approved for the Virgin Money No Annual Fee Credit Card, you will have 12 months paying 0% interest on your purchases. That means, whatever you buy using your card during that twelve month period will attract no interest at all.

So, what do you need to know? Purchase offers can work well for cardholders who have something in mind they want to pay for, such as home renovations, a holiday or a big ticket item, like a TV. Using the purchase offer correctly, they can buy what they need and then pay it all off within the introductory period before their balance starts accruing interest.

Of course, purchase offers also work for cardholders who simply want to save on interest month to month. Either way though, it helps to have a budget and a plan for paying off all your spending. To make it work, think about how much you can afford to pay back, then set up a repayment plan to repay the entire balance before the introductory period ends.

So, what about that balance transfer offer? Designed to help those who want to pay down debt on their existing credit cards, this card’s 0% p.a. balance transfer offer gives new cardholders 12 months to clear their transferred balance while paying nothing in interest. As a nice touch, there is no balance transfer fee – and you can transfer from most of the big banks.

It is worth pointing out that while you can make use of both the purchase offer and the balance transfer offer at the same time, you will need to make sure you can afford to pay off your new spending and your transferred balance within that intro period if you want to make it work.

What’s not so great…

Anything you need to know about the card and its offers? In terms of the purchase offer, know that any balance remaining at the end of the intro period will revert to the card’s purchase rate. Meanwhile, any transferred balance left unpaid will revert to the card’s cash advance rate. Neither of these rates are low, so it’s best to get those balances to zero before that intro period ends.

Why should you choose this card?

Of course, the main reason to apply for the Virgin Money No Annual Fee Credit Card right now is to take advantage of its introductory offers. You want to save on interest? This card can make that happen on both purchases and balance transfers. And, as long as you make a plan for your spending and your repayment, both offers have the potential to be very beneficial indeed.

Ongoing, the card works as an awesome low cost option. You will pay no annual fee ever, with up to four additional cardholders at no extra cost. And while the standard purchase rate isn’t exactly low, you can keep interest costs at zero by clearing your balance by the due date each month and taking advantage of the card’s interest-free period on purchases (up to 55 days).

While the card may not be abundant in features, it does offer the basics in security and payment extras (think Visa’s payWave and Zero Liability Policy). Another handy extra is the card’s compatibility with Apple Pay and Samsung Pay. This allows you to pay quickly and easily online, or using your synced device when paying in person.

Overall Rating

It’s not every day you see a no annual fee card with a long intro offer on both balance transfers and purchases. But, that’s exactly what the Virgin Money No Annual Fee Credit Card is offering. You will pay 0% p.a. on purchases and balance transfers for 12 months, with all the basic features provided. Offer ends 4 March 2024.

User reviews

Virgin Money No Annual Fee Credit Card ( based on 20 Creditcard.com.au user reviews )

73% rating based on 20 reviews

Rates
Fees
Rewards
Customer Service
Value
90%

Brian

27 May 2023

great

Recommends this card
90%

Hux

12 January 2022

Can you accumulate Velocity points on the Virgin Money No Annual Fee Credit Card? I looked at FAQs and cannot see anywhere this is mentioned

Recommends this card
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.

Introductory purchase rate 0% p.a. for 12 months

Cash advance rate 20.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 12 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

Brands you can't balance transfer from Bank of Queensland, Coles, IMB, Qantas Money, Suncorp, Virgin Money

Credit limits

Minimum credit limit $2,000

Maximum credit limit $30,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee Up to 4 - $0 p.a.

Foreign transaction fee 3.3%

Minimum repayment $30 or 2%, whichever is greater

Cash advance fee 2.7% or $2.70 whichever is greater (domestic) ; $5 (international)

Late payment fee $30

Additional features

Complimentary insurance

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

Extras

Eligible with Apple Pay and Samsung Pay

Overview

Virgin Money No Annual Fee Credit Card

Key features

  • 0% p.a. on balance transfers for 12 months. Reverts to cash advance rate.
  • 0% p.a. for 12 months on purchases. Reverts to 18.99% p.a.
  • 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 55 days interest free on purchases
  • Eligible with Apple Pay and Samsung Pay

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

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

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

295 questions (showing the latest 10 Q&As)

Nicky

Nicky

18 January 2024
Is there minimum spends that have to qualify for the 0% purchases ie is it only purchases over say $250 or x amount of purchases or is it every purchase even as small as $20. Also is there an international transaction fee?
    Pauline - CreditCard.com.au

    Pauline

    25 January 2024
    Hi Nicky, no there’s no spend requirement. You just need to pay at least the minimum amount on or before the due date indicated on your statement each month to enjoy the promotion. Please note that any unpaid balance will revert to 18.99% p.a.
Colleen

Colleen

30 December 2023
Just enquiring about a cash advance on a virgin credit card. But think I'm in arrears. Can you still get a cash advance.
    Pauline - CreditCard.com.au

    Pauline

    4 January 2024
    Hi Colleen, if your account isn’t in what credit providers call “good standing” it’s a good chance any future transactions will be blocked. If your account remains overdue, you might end up damaging your credit score and file.
Ronald

Ronald

24 December 2023
Where can this Visa card be paid is it by BPay or bank transfer. Is it Annual free charge forever.
    Pauline - CreditCard.com.au

    Pauline

    4 January 2024
    Hi Ronald, this card has no annual fee for the life of the card. In terms of paying off your balance, Virgin Money offer BPAY, direct debit, Pay by cheque or you can pay it at any Australia Post branch with Bank@Post signage.
Sam

Sam

6 December 2023
Just wanted to check that there is no internet charged for first 12 months? Example - If I made a purchase of $4000 and I pay it off within the 12 months then no interest added?
    Pauline - CreditCard.com.au

    Pauline

    7 December 2023
    Hi Sam, yes you are correct. If you make the required payments as listed on your statement each month, there won't be any interest charged on your account. It's important to keep in mind that with this card, the interest free period starts when from the date your account is approved, not the date you make your first purchase. Hope this helps you Sam.
yi jie

yi jie

3 December 2023
Can retirees apply?
    Pauline - CreditCard.com.au

    Pauline

    6 December 2023
    Hi Yi, yes retirees can apply, but just make sure you meet the application criteria (we have listed them underneath the review). You can also look at our guide on applying for credit cards as a retiree for more information. I hope that helps!
Glenn Pearce

Glenn Pearce

22 October 2023
can this card be in joint names? as opposed to having just the extra card holders.
    Pauline - CreditCard.com.au

    Pauline

    24 October 2023
    Hi Glenn, there’s only a handful of providers who offer joint credit cards including Community First, Peoples Choice and Heritage Bank. Each bank has different requirements for joint account applications, so make sure you read the fine print before applying.
Shelley

Shelley

6 October 2023
Do you earn Velocity points with the Virgin Money No Annual Fee Credit Card?
Manny

Manny

30 August 2023
Hi i would like to know more about this card
    Pauline - CreditCard.com.au

    Pauline

    4 September 2023
    Hi Manny, you can read our review about the Virgin Money No Annual Fee card at the top part of this page. If you have specific questions, please let me know and I’ll try my best to provide the necessary information.
L

L

15 August 2023
Hi, The Virgin Money 12 months 0% on purchases and 0% on balance transfers....if I do a balance transfer and also purchase on it, are the purchases still interest free? thanks.
    Pauline - CreditCard.com.au

    Pauline

    16 August 2023
    Hi! Yes, you won't pay interest on new purchases during the promotional period even if you have a balance transfer. But, when the promo period ends, your balance transfer will be charged the cash advance rate (20.99% for this card), and you won't get any interest-free days until the balance transfer is cleared. Thanks!
Emily

Emily

13 July 2023
Hello, I'm looking to apply for an interest free credit card to pay out my car for $8k. I'm a little confused with the 0% p.a for 12 months and the 55 day interest free period. Let's say I charge $8k on the card in one transaction date - does this mean I have 12 months to pay back the $8k completely interest free? Or will I be charged interest on the $8k after 55 days?
    Pauline - CreditCard.com.au

    Pauline

    17 July 2023
    Hi Emily, I agree that credit providers word things a bit confusingly. You’ll get no interest charged on purchases made from the date your account is approved as long as you pay the minimum monthly required amount. Once this promotional period ends after 12 months, you’ll then get the standard 55 days interest free on your account. Hope that clears it up for you.
Margaret

Margaret

25 May 2023
I’m on the pension. Can l get credit card. With money from bank on it. 2000 dollars
    Pauline - CreditCard.com.au

    Pauline

    25 May 2023
    Hi Margaret, yes you technically may apply for a credit card even when on pension. You can check some of the cards we list here. We’ve also included the card’s eligibility requirements. Please note that the credit limit will be set by the card issuer based on their credit assessment policies.
Patrick

Patrick

7 May 2023
Hi Pauline, I am planning to move temporarily to Europe for around 6 months. What is the best way to avoid international fees and charges, particularly on ATMs whilst over there? Is opening a foreign bank account allowed?
    Pauline - CreditCard.com.au

    Pauline

    8 May 2023
    Hi Patrick, 6 months overseas sounds amazing! You have a few options here. You can set up an Aussie bank account like the HSBC Everyday Global Account (we've reviewed it on our other site debitcards.com.au), which is a savings account that can hold multiple currencies. You won't pay transaction fees when you use your card in the local currency. You could use a credit card, but you'll pay the exchange rate every time (and interest on your cash advance if you’re withdrawing from the atm), which isn't ideal. You can also look at a money travel account like Wise, which acts similarly to HSBCs option. Both of these have no monthly fees and no or low ATM fees (but the issuing ATM might charge you). I'm not sure about setting up foreign accounts, so that might need a bit more research. Have a great trip, Patrick!
Flo

Flo

3 May 2023
It just says Australian Resident, here AND on the Virgin Money website. Is actual "Permanent Residency" a requirement?
    Pauline - CreditCard.com.au

    Pauline

    4 May 2023
    Hi Flo, a part of the Virgin No Annual Fee cards application form says you must be a “Australian citizen or resident”. If you don’t fall into this category, we’ve got a comparison of credit cards for temporary residents you can browse and a guide to different visa sub-class credit cards too.
Tom

Tom

12 April 2023
I am applying for a Virgin Money No Annual Fee Credit Card. I would like to do a balance transfer to my wife's credit card where i am the secondary card holder. The application won't let me change the account name Can i do this with this credit card? Thanks
    Pauline - CreditCard.com.au

    Pauline

    13 April 2023
    Hi Tom, you’ve landed on Creditcard.com.au, Australia’s leading credit card comparison website. You can contact Virgin Money directly for assistance on this matter at 13 37 39 as they don’t publicly disclose this.
steph

steph

5 April 2023
Ive never used a credit card before but I would like to start earning points for travel or cash back I just have a few questions What does a purchase rate 0% p.a. for 12 months mean? I am confused as to what the difference is between that and the balance transfer interest rate p.a. and also the 55 days interest free on purchases. I am currently looking at the virgin money no annual fee card but wanted to clarify what all those things mean even when looking at other cards. Also what does it mean when it says reverts to cash advance rate? Thanks so much Steph
    Pauline - CreditCard.com.au

    Pauline

    6 April 2023
    Hi Steph, Awesome questions. I know it’s a lot of info when you first get a credit card! Let’s start with the 0% purchase rate for 12 months. That means this card lets you buy everyday stuff and you won’t be charged any interest for the first 12 months. You might use it if you wanted to buy a couch or book travel and need some time to pay it off. This card also has a 0% balance transfer offer which means if you have existing debt on another credit card, you can move it to your new card and pay it off without being charged interest for 12 months. After that, it reverts to the ‘cash advance rate’, which is higher than the regular interest rate on the card. On the Virgin Money No Annual Fee card, the regular interest rate on stuff you buy is 18.99%, but a balance transfer is charged 20.99% once the interest-free period ends. The 55 days interest-free means that you can avoid paying interest on the things you buy on the card if you pay it off within 55 days of the start of the statement period (a statement period is around 30 days, plus 25 days to pay the amount off after the statement is issued to you = 55 days). So let’s say you buy a coffee on the first day of your statement period (April 7, for example). You have 55 days interest-free grace on that purchase. If you bought it on May 6, at the end of your statement period, you’d have 25 days left of the 55 days interest-free for that statement period. I know it’s confusing, so here’s a little more on how it works. If you can pay off your card in full each month, you’ll avoid interest altogether! I hope that info and the links help you get started Steph! (scroll down on the pages with card comparison tables to see the explanation of the feature) If you’re looking to earn points, check out the cards that earn rewards points.

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