Your balance and money transfers

Your transfer rates

As part of our ongoing service, we have recently contacted you to let you know of the new balance and/or money transfer rates available on your Virgin Money Credit Card. Your transfer rates will be available for a limited time only.

You can view the rates available for you in the email we sent you or on your Virgin Money Credit Card app. If you don’t already have the app, you can download it from the App Store or Google Play. It’s easy to do and only takes a few minutes to get up and running. You’ll need your card to register.

Download the Virgin Money Credit Card app

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What you need to know

Before completing your balance transfer or money transfer, there’s some important things you need to consider:

1. When your new transfer rate ends, balance and money transfers will be charged at your standard rate of interest. This can be found on your statement.
2. To keep the new transfer rate you need to make the minimum payment on time every month.
3. You can only transfer up to 95% of your credit limit minus your outstanding balance(s) and transfer fee. You can view your credit limit in the Virgin Money Credit Card app.
4. If you make a card purchase, you'll be charged interest on it unless you pay off the full balance shown on your statement by the payment date or you have a 0% rate on purchases. Your full balance includes any balance and money transfers.
5. It’s best to try and pay off as much as you can afford each month. Direct Debit is the simplest way to pay. You can set one up easily, or if you've done that already, you should check your details to make sure it's still in place. You can do this in the Virgin Money Credit Card app.
6. If you make a transfer and only pay your minimum payment each month, it may take you longer and cost you more to repay what you owe. And so, if you can afford to, you should pay more than your minimum payment.
7. If you're making a transfer in order to repay other borrowing, check with the other lender if they will charge you a fee for repaying early.

Transfer fees explained

There may be a fee applied when you make a transfer. The cost will vary depending on the transfer rate.

The examples below show a fee of 3.5% applied to a balance transfer and 4% applied to a money transfer during the offer period. Please check your transfer rate to see the fee that will be added to your balance.

What is a money transfer?

A money transfer allows you to transfer money straight into your bank or building society account.

Whether you want to transfer money to pay off an overdraft with a higher interest rate, or free up some money for home improvements, you can transfer money from your Virgin Money or Virgin Atlantic Credit Card directly into your own bank or building society account. You can only transfer money to a UK bank or building society account in your name. The money you transfer will be in GBP.

A transaction fee may apply and you will need to request your money transfer within the first 60 days of opening your account to receive the introductory promotional offer.

If you make a transfer and only pay your minimum payment each month, it may take you longer and cost you more to repay what you owe. And so, if you can afford to, you should pay more than your minimum payment.

If you're making a transfer in order to repay other borrowing, check with the other lender if they will charge you a fee for repaying early.

You should not use your card to repay any credit facility issued by Clydesdale Bank PLC (including Virgin Money, Clydesdale Bank and Yorkshire Bank).

What is a balance transfer?

A balance transfer allows you to move part or all of the balance of another credit card or store card to your Virgin Money or Virgin Atlantic Credit Card.

If you have existing high interest credit or store cards, transferring any outstanding balances to your Virgin Money or Virgin Atlantic Credit Card could save you money (fees apply).

You will not be able to transfer a balance to this account from another card issued by Clydesdale Bank PLC (including Virgin Money, Virgin Atlantic, Clydesdale Bank, Yorkshire Bank or ‘B’ credit cards), a non-UK financial organisation or from certain store cards.

If you make a transfer and only pay your minimum payment each month, it may take you longer and cost you more to repay what you owe. And so, if you can afford to, you should pay more than your minimum payment.

If you're making a transfer in order to repay other borrowing, check with the other lender if they will charge you a fee for repaying early.

Ready to transfer?

If you’re ready to make a transfer, here's what you need to do:

1. Sign in to the app and go to ‘Payments’
2. Choose ‘Balance transfer’ or ‘Money transfer’
3. Pick the transfer rate that’s right for you
4. Tell us how much you want to transfer
5. Enter the card number you’re transferring from (for a balance transfer) or account number and sort code (for money transfers)
6. For security you’ll be asked to enter your app password, so make sure you know this

Alternatively, you can call us on 0800 011 3210. We’re here Mon-Sat 8-8, Sun 10-5.

Calls to 0800 numbers are free from UK landlines and personal mobile phones. Calls may be monitored and recorded.