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10,000 New Virgin Money credit card customers will each receive a £10 gift card, as balance transfer fees are cut

14/01/2016

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.

  • First come, first served! A £10 Amazon.co.uk gift card for 10,000 new credit card customers
  • Balance transfer fee on 32 month card reduced from 1.19% to 0.99%
  • Balance transfer fee on 26 month card reduced from 0.99% to 0.69%

Virgin Money has announced it is offering 10,000 new credit card customers a £10 Amazon.co.uk gift card. The offer is available immediately to all successful applicants, however they apply for their new card, and is due to run until 24 January 2016, unless the vouchers run out before then as the offer will operate on a first come, first served basis.

The news comes as Virgin Money also announces a reduction in the balance transfer fee on two of its popular credit cards:

32 month credit card

Virgin Money has cut the balance transfer fee on its 32 month credit card and now offers:

  • 32 months 0% interest on balance transfers, with a one-off transfer fee of 0.99% (down from 1.19%)
  • 32 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • 3 months 0% interest on purchases

26 month credit card

Virgin Money has also cut the balance transfer fee on its 26 month credit card and now offers:

  • 26 months 0% interest on balance transfers, with a one-off transfer fee of 0.69% (down from 0.99%)
  • 26 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • 3 months 0% interest 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: "We’re delighted to offer 10,000 new credit card customers a £10 Amazon.co.uk gift card to come and join us. Alongside our new incentive, we have also cut the balance transfer fee on both our 32 and 26 month cards. Balance transfer cards remain a popular choice for customers and we expect the reduced fee will be attractive to those who are seeking to manage their finances more effectively in 2016 and beyond."

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 and the latest ‘spray-paint’ design. 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)
32 Month Balance Transfer0% for 32 months0.99%0% for 32 months4.00%0% for 3 months18.9%
26 Month Balance Transfer0% for 26 months0.69%0% for 26 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.

38 month credit card

As previously announced, the Virgin Money 38 month credit card was available for a limited period only and was withdrawn on 13 January 2016.

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.