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Virgin Money brings back the 38 month balance transfer credit card with a reduced balance transfer fee

19/01/2016

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.

  • New card offers 38 months interest-free for balance and money transfers
  • Balance transfer fee reduced to 2.49%
  • Customers applying will be eligible for a £10 Amazon.co.uk gift card promotion

Virgin Money has reintroduced its popular credit card offering customers 38 months interest free on balance and money transfers, and reduced the balance transfer fee to 2.49%.

The new card offers:

  • 38 months 0% interest on balance transfers, with a one-off transfer fee of 2.49%
  • 38 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.

Customers applying for the new card will be eligible for Virgin Money’s Amazon.co.uk gift card promotion. Launched last week, this offers 10,000 successful new credit card applicants a £10 Amazon.co.uk gift card. The offer is due to run until 24 January 2016, unless the vouchers run out before then as it operates on a first come, first served basis.

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 bring back our 38 month balance transfer card, with the added benefit of a reduced balance transfer fee."

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)
38 Month Balance Transfer0% for 38 months2.49%0% for 38 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 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.