Virgin credit card review – what are the benefits?
Published: 2 April 2009
By MoneyhighStreet Staff 1 Comment
Updated: 2 March 2011
With so many credit cards available, how do you choose one? Here we start our series of credit card reviews looking at the Virgin credit card.
You can apply for a Virgin credit card as long as you are over 18, live in the UK and have a bank or building society account.
You will not automatically get a card just simply because you apply for one.
As with other credit card providers, Virgin will check your age, status and financial background and will get a credit report on you.
With this information they will decide whether to offer you a card and if so what credit limit to apply.
A Virgin credit card does not have an annual fee and currently offers:
- 0% on balance transfers for 16 months, from the date your credit card account is opened. Be aware this only applies to transactions made within the first 60 days of the account opening. There is a handling fee of 2.89%, minimum charge £3
- 0% on card purchases for 3 months, from the date the account is opened.
- Representative 16.8% APR (variable)
- Pay less interest on your balance – your monthly repayments go towards paying off the balance with the highest rate of interest first, instead of the lowest rate. This means your higher rate balances are paid off earlier, and you pay less interest overall
- Contactless payments – a feature on your card which lets you pay for items of £15 or less without having to key in your PIN, making your purchases as hassle-free as possible
- Discounts to save money on other Virgin group products and services – Virgin Holidyas, Virgin Media, Virgin balloon flights, Virgin Holidays Cruises, Virgin Vie, Virgin Experience Days, Virgin Money insurance, Virgin Active, Virgin Wines
- Access to your account 24/7, managed by phone or online
If you are successful with your application, Virgin try and get your new credit card to you within 7-10 working days.
It only takes minutes to apply for a Virgin credit card online – and you have a choice of colours – Virgin red, Cool Black or Pretty Pink.