Your balance and money transfers | Cards

What is a 0% balance transfer?

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

With a 0% balance transfer you’ll then pay it off with no interest for a set period of time. Then you will move to your standard interest rate. A transfer fee will apply.

A 0% balance transfer can help you

Save on interest
If you’re paying interest on a credit or store card, moving to a 0% balance transfer means you’ll pay no interest. This saves you money and could help you become debt free faster.
Get things organised
Balance transfers can help you organise your debt in one place, making it easier to manage and keep track of.
Consolidate your payments
Instead of making several monthly payments to different cards, when you transfer these balances to one card, you’ll only have one monthly payment to make.

Top tips

Transfer high interest cards first: This should save you money on interest. You can transfer as many cards as you need, but the total you transfer cannot be more than 95% of your credit limit.
Pay off your debt faster: It's best to try and pay as much as you can afford each month. Paying only the minimum payments may take longer and cost more to repay. Setting up a Direct Debit is the best way to stay on track.
If you need some cash: A money transfer moves money into your current account. Check if you've been offered a promotional rate.

What is a 0% money transfer?

A money transfer lets you move money from your Virgin Money Credit Card to your bank account.

With a 0% money transfer you'll then pay it off with no interest for a set period of time. Then you'll move to your standard interest rate. A transfer fee will apply.

As an example, if your credit card limit is £5,000
You can transfer up to 95% of that credit limit to your current account
That’s a boost of £4,750 into your current account

A 0% money transfer can help you

Pay for bigger purchases
A money transfer can pay for one-off bigger buys like a car, holiday or some home improvements.
Get money quickly
Pay for unexpected expenses such as vet bills, car repairs or replacing home appliances with a money transfer.

Key information

If you decide that a balance or money transfer is right for you, there's a few things to be aware of:

Fees apply: We charge a one-off transfer fee for making a balance or money transfer. The fee is a percentage of the total amount transferred.

As an example, if your transfer fee was 3.5% and you were transferring £1,000, the transfer fee would be £35. We show how much the fee will cost when you enter your transfer amount.
When a 0% offer ends: We charge the standard interest rate when the 0% balance or money transfer offer ends, or is withdrawn. If you miss a minimum monthly payment, the offer will be withdrawn. After this, we'll charge the standard interest rate.
Can you transfer?: You can do a balance transfer from a UK credit card or store card that has a Visa or Mastercard logo. You cannot do a balance transfer from another Nationwide or Virgin Money Credit Card.

You can do a money transfer to a UK bank or building society account. You should not use your card to repay borrowing from Nationwide or Virgin Money.
Spending on your card: This offer does not include spending. We charge the standard interest rate for card purchases.

If you pay off your spending balance in full each month or spend while you have a 0% purchase offer, you won't be charged interest on it.

Ready to transfer?

Here's what you need to do:

Head to the Virgin Money Credit Card app
Select your card and then tap 'Offers'
Tap 'Make a balance transfer' or 'Make a money transfer' and follow the steps

A transfer usually takes 2 to 3 working days if no extra checks are needed.

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