Virgin Money cuts credit card fees
- Interest-free balance transfer fees reduced by up to 0.49%
- A range of balance transfer options of up to 36 months
- All accepted customers receive the promotional rate and balance transfer duration they apply for
Virgin Money has updated its credit card range by cutting balance transfer fees on a number of its cards. The new range is available with immediate effect for applications through Virgin Money’s website and through moneysupermarket.com.
The key changes to the range are:
- 36 month interest-free balance transfer fee reduced from 2.99% to 2.50%
- 34 month interest-free balance transfer fee reduced from 2.79% to 2.25%
- 32 month interest-free balance transfer fee reduced from 2.00% to 1.75%
The introductory rates apply to balance transfers made within the first 60 days of account opening.
Michele Greene, Director of Cards at Virgin Money said: "We have seen a great response to our new credit card range that we launched in April, and we’re delighted to announce that we are cutting fees for customers making a balance transfer to one of our cards. We offer a range of interest-free balance transfer periods that provide choice for customers and as with all of our cards, successful applicants can be confident that they will get the rate they applied for."
All Virgin Money credit card customers have access to Virgin Money Lounges together with a range of exclusive offers from the Virgin Group, including discounts on a range of Virgin products such as holidays, train tickets and health club membership.
Further information on Virgin Money credit cards is available at www.virginmoney.com.
Virgin Money Press Office:
0191 279 4676
NOTES TO EDITORS
|Card||Balance transfer period||Balance transfer fee||Money transfer period||Money transfer fee||Purchase period||Representative APR|
|18 Month Balance Transfer||0% for 18 months||0.75%||0% for 18 months||4.00%||0% for 6 months||18.9%|
|26 Month Balance Transfer||0% for 26 months||1.25%||0% for 26 months||4.00%||0% for 6 months||18.9%|
|32 Month Balance Transfer||0% for 32 months||1.75%||0% for 32 months||4.00%||0% for 6 months||18.9%|
|34 Month Balance Transfer||0% for 34 months||2.25%||0% for 34 months||4.00%||0% for 6 months||18.9%|
|36 Month Balance Transfer||0% for 36 months||2.50%||0% for 36 months||4.00%||0% for 6 months||18.9%|
|All Round||0% for 18 months||2.00%||0% for 18 months||4.00%||0% for 18 months||18.9%|
|Low Rate||7.67% (p.a) for life||Nil||7.67% (p.a) for life||Nil||7.67% (p.a) for life||7.9%|
About Virgin Money
- Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
- 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 our shareholders
- Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010.
- The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit http://uk.virginmoney.com/virgin/cards.jsp for full terms and conditions.
Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.