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
| Card | Balance transfer period | Balance transfer fee | Money transfer period | Money transfer fee | Purchase period | Representative APR (variable) |
|---|---|---|---|---|---|---|
| 32 Month Balance Transfer | 0% for 32 months | 0.99% | 0% for 32 months | 4.00% | 0% for 3 months | 18.9% |
| 26 Month Balance Transfer | 0% for 26 months | 0.69% | 0% for 26 months | 4.00% | 0% for 3 months | 18.9% |
| ||||||
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.