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Virgin Money re-releases its credit card chart-topper and adds a new card to its range

27/11/2015

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.

  • 40 month interest-free card re-released for 20 days only, with a balance transfer fee of 2.99%
  • New 18 month credit card launched without a balance transfer fee
  • Balance transfer fee on 26 month card reduced from 1.25% to 0.99%

Virgin Money has made a number of changes to its credit card range, including the re-release of its market-leading 40 month balance transfer credit card, for a limited period only. It has also launched a new 18 month card without a balance transfer fee. In addition, the balance transfer fee on its 26 month card has also been reduced.

New 40 month credit card
Virgin Money has re-released its 40 month credit card, which offers the longest 0% interest periods on balance and money transfers currently available in the market. The card is available for 20 days only, until 16 December 2015. It offers:

  • 40 months 0% interest on balance transfers, with a one-off transfer fee of 2.99%
  • 40 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • 3 months 0% interest on purchases

New 18 month credit card
The new 18 month card is Virgin Money’s first credit card to offer balance transfers with no balance transfer fee. It offers:

  • 18 months 0% interest on balance transfers, with no balance transfer fee
  • 18 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • 3 months 0% interest on purchases

Improved 26 month and Low Rate credit cards
A number of improvements have been made to the existing credit card range:

  • Balance transfer fee on 26 month card reduced from 1.25% to 0.99%
  • Low Rate credit card now offers a low standard interest rate of 6.27% p.a. on purchases

All 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 “Balance transfer cards remain a popular choice for customers, so we’re delighted to re-release, for a limited period, our 40 month credit card, which was a firm favourite with our customers when we launched it earlier this year. Combined with the new 18 month card which is our first without a balance transfer fee, and the other improvements we have made to the range, this is great news for customers looking for an attractive credit card option ahead of the festive period.”

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.


Ends


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)
40 Month Balance Transfer0% for 40 months2.99%0% for 40 months4.00%0% for 3 months18.9%
26 Month Balance Transfer0% for 26 months0.99%0% for 26 months4.00%0% for 3 months18.9%
18 Month Balance Transfer0% for 18 months0.00%0% for 18 months4.00%0% for 3 months18.9%
Low Rate7.67% (p.a) for lifeNil7.67% (p.a) for lifeNil6.27% (p.a) for life6.4%
  • 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 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.