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Virgin Money cuts fee on its 37 month balance transfer credit card and announces removal of limited offer deadline

16/10/2015

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 our cards pages for full terms and conditions.

  • Balance transfer fee on market-leading credit card reduced to 2.69%
  • The 37 month balance transfer credit card is now available until further notice

Virgin Money has reduced the balance transfer fee on its market-leading 37 month balance transfer credit card to 2.69%.

The news comes as Virgin Money also announces that the card is now available until further notice, having removed the previous ‘limited offer’ period that was due to end on 2 November 2015.

The 37 month credit card offers:

  • 37 months 0% interest on balance transfers, with a one-off transfer fee of 2.69%
  • 37 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • 3 months 0% interest on purchases

The introductory rates apply to balance and money transfers made within the first 60 days of account opening.

John Natalizia, Director of Credit Card Products and Operations at Virgin Money, said "This is doubly-good news for customers. We have reduced the balance transfer fee on our 37 month card and decided to lift its previous limited offer status, making it available until further notice. More customers can now take the opportunity to pick up a market-leading zero per cent interest period, for both balance and money transfers. Not forgetting that there is also zero per cent interest on purchases for the first three months."

Unlike most credit card providers in the UK, Virgin Money ensures that all successful applicants receive the promotional rate and duration they apply for. Virgin Money does not offer shorter balance transfer periods or higher interest rates to customers after reviewing their application.

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.

Customers can also have their Virgin Money credit cards in a variety of colourful designs, including the iconic Sex Pistols artwork.

Further information on Virgin Money credit cards can be found at www.virginmoney.com.


Media Contacts:

Virgin Money Press Office:
0191 279 4676
press.office@virginmoney.com


NOTES TO EDITORS


Product Details

CardBalance transfer periodBalance transfer feeMoney transfer periodMoney transfer feePurchase periodRepresentative APR (variable)
37 Month Balance Transfer0% for 37 months2.69%0% for 37 months4.00%0% for 3 months18.9%
  • Promotional interest periods and fees will apply to any balance or money transfers within 60 days of account opening.
  • Promotional rates will no longer apply from the beginning of any statement period during which a customer has breached their terms, for example if they haven't paid on time or have gone over their credit limit.
  • Balances can be transferred from all credit cards other than existing Virgin Money cards.
  • Representative example based on a credit limit of £1,200.

Supplementary notes

  • 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.

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.

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.