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Virgin Money zeroes in on balance transfers and purchases

  • Market-leading card offers 12 months 0% on purchases and balance transfers

Virgin Money is further strengthening its market-leading credit card range with the launch of a card offering 0% for 12 months on card purchases and balance transfers (2.98% fee applies to balance transfers).

The card is now available to all potential applicants following a highly successful two-week exclusive promotion through the UK’s number one comparison website moneysupermarket.com. As well as being available directly from Virgin, the card will continue to be offered through moneysupermarket.com.

The new Virgin Money 12/12credit card is among the longest on the market for purchase and balance transfers.

Scott Mowbray, spokesman at Virgin Money, said: “We are committed to expanding in the credit card market and the 12/12 credit card is another major step forward. Customers can use the card to pay down more expensive debt and also to plan spending. Feedback from the exclusive deal through moneysupermarket.com shows the 12/12 card is a popular choice for customers.”

Once the introductory period ends the rate reverts to a typical APR of 18.9% (variable). Balance transfers attract a fee of 2.98%.

Peter Harrison, credit card expert at moneysupermarket.com, said: “Not surprisingly, the new Virgin Credit Card has been a real hit with customers who are looking to take advantage of the combined purchase and balance transfer offers. It’s the perfect card for everyday use. It is great to see Virgin developing a card with the customer in mind – as it can be used for different purposes, which is what a credit card was originally designed for.”

Virgin Money's 16 month 0% balance transfer deal has changed to 14 months 0% for balance transfers with 3 months 0% for card purchases (2.98% fee applies to balance transfers, typical APR is 16.6% (variable)).

-Ends-

For further information:

Grant Bather
Virgin Money
07834 844 427

Kevan Reilly/Chris Jarvis
Citigate Dewe Rogerson
Tel: 0207 638 9571

About Virgin Money:

Virgin Money is Virgin's banking and financial services arm and was established in 1995 as a joint venture between the Virgin Group and Norwich Union.

In 1997, Virgin Direct Personal Financial Services Limited launched The Virgin One Account, a joint venture with The Royal Bank of Scotland that offered the UK's first current account mortgage direct to the retail market. In 2001, RBS bought out the Virgin Group's stake in the joint venture.

In April 2004 the Virgin Group took 100% ownership of Virgin Money.

Virgin Money currently has over 2.5 million customers and offers Payment Cards (Credit Cards & Prepaid Cards), Savings and Investment products (Stakeholder Pensions, Children's Pensions, Employers Pensions, FTSE Tracker ISA, Bond & Gilt ISA, Climate Change ISA, Cash ISA and Unit Trusts), General Insurance products (Motor, Home, Travel, and Pet) and Life Assurance products to the UK market.

Virgin has signed a five-year deal to be the official sponsor of the London Marathon, the biggest annual fundraising event in the world. The inaugural Virgin London Marathon was held on 25 April 2010. Virgin Money is leading the London Marathon sponsorship with the ambition to help runners raise £¼ billion over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving.

Bank of America Europe Card Services provides the Virgin Charity Credit Card.