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Virgin Money No Annual Fee Credit Card – Purchase Offer
Virgin Money No Annual Fee Credit Card – Purchase Offer

Virgin Money Credit Cards

Virgin Money No Annual Fee Credit Card – Purchase Offer

Updated 1 July 2020

A great way to save on interest, this offer for the Virgin Money No Annual Fee Credit Card comes with 0% for 9 months on purchases and balance transfers. You will pay no annual fee, ever and add up to 4 additional cardholders.

T&Cs apply. Offer ends 31 August 2020

Purchase Rate (p.a)

0% p.a.

for 9 months. Reverts to 18.99% p.a.

Balance Transfer (p.a)

0% for 9 months No BT fee. reverts to 20.99% p.a.

Annual Fee (p.a)

$0

$0 over 9 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. for 9 months on purchases and balance transfer (reverts to cash advance rate)
  • 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 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 – Purchase Offer

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Virgin Money No Annual Fee Credit Card (Purchase Offer)

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 nine 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 nine months paying 0% interest on your purchases. That means, whatever you buy using your card during that nine 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 nine 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 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 nine months, with all the basic features provided.

User reviews

Virgin Money No Annual Fee Credit Card – Purchase Offer ( based on 3 Creditcard.com.au user reviews )

87% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 18.99% p.a.

Introductory purchase rate 0% p.a. for 9 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 9 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 $10,000

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

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 Samsung Pay

Overview

Virgin Money No Annual Fee Credit Card – Purchase Offer

Key features

  • 0% p.a. for 9 months on purchases and balance transfer (reverts to cash advance rate)
  • 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 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

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.

2 questions (showing the latest 10 Q&As)

Steve

Steve

23 June 2020
Is it harder to get a credit card if your income is from superannuation and you have retired.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 June 2020
    Hi Steve, it certainly is. Best practice, before you retire, you should review all financial products. This is the time to make sure you have the right credit cards to take you into retirement. Retirement itself will not mean the credit card market will be cut off. Though this will be based on your personal situation. Many may not be able to get approved for credit post retirement. Some banks are more open than offers. Though retirement will limit the options for which cards you can apply. No annual fee cards in particular are harder to get approved for.
Raymond Young

Raymond Young

6 June 2020
Any monthly statement Fee ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 June 2020
    Hi Raymond, there is a fee if you choose to have a paper statement. For each statement period we issue you with a paper statement, $2 will be debited to your account in the following statement period. This may be waived in limited circumstances. Avoid this fee by opting in to receive electronic communications (eStatements) which are sent directly to the email address on your Account. To enrol, log on to your Virgin Money Online account and select ‘My Profile’ from the Services tab.

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