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Virgin Money launches "all round" credit card

  • 16/6 all-round good value card to help with Balance Transfers and Purchases

Virgin Money has launched its All Round Credit Card, offering 16 months at 0% on balance transfers and 6 months at 0% on card purchases.

The all-round proposition of the card also includes low fees as well as a competitive APR to compliment the balance transfer length and extended purchase period.

The card has a representative rate of 15.8% APR (variable).

The card offers 0% interest on balance transfers for 16 months from the date the account is opened. To qualify for the 16 month offer, balance transfers will need to be made within the first 60 days of opening the account (a 1.99% handling fee will apply).

The 0% retail introductory period is available for six months from the date that the account is opened.

Grant Bather, spokesman at Virgin Money, said: “Our newest card gives customers the freedom to spend for six months at 0% while also providing 16 months at 0% on balance transfers, offering card users flexibility around their card use.

“We wanted to offer all round good value to customers and with this card customers are given a competitive balance transfer length, extended purchase period and low fees, as well as a competitive APR.”

“At Virgin Money our aim is to always offer a range of products that give customers great value and that are competitive in the market.”

The Virgin Money All Round Credit Card has a 3% cash withdrawal handling fee, with a 4% fee on money transfers. It also has a standard BT fee of 2.89% (for transfers made after the first 60 days).

Card holders will also be able to take advantage of the Virgin Group discounts available with the card, including discounted holidays, flights, train travel, wine and one month’s free gym membership.

To apply customers should go to www.virginmoney.com

Representative Example
15.8% p.a. variable on card purchases. This is equivalent to 15.8% APR representative variable based on a credit limit of £1,200.

ENDS


For further information
Grant Bather
Virgin Money
Tel: 07834 844 427
Kevan Reilly/Chris Jarvis, Toby Clark
Citigate Dewe Rogerson 
Tel: 0207 638 9571

About Virgin Money:

  • Virgin Money is Virgin’s 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.
  • Following an investment of £100m of new capital by WL Ross in April 2010, Virgin Money is 79% owned by Virgin Group, with 21% ownership by WL Ross.
  • Virgin Money currently has over 3 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. To apply go to virginmoney.com.
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders.
  • Virgin is the official sponsor of the London Marathon, the biggest annual fundraising event in the world. Virgin Money, the banking division of the Virgin Group leads 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.
  • Virgin Money has signed a three-year deal to be the official sponsor of Edinburgh’s ‘Fringe on the High Street’. The Edinburgh Festival Fringe 2011 runs from 05-29 August. Tickets and information are available at www.edfringe.com
  • MBNA Europe Bank Limited (a Bank of America company) issues the Virgin Credit Card.