Virgin Money launches three new balance transfer credit cards

18/02/2016

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 40 months interest-free for balance and money transfers, with a reduced balance transfer fee of 2.59% - card only available until 1st April 2016
30 month credit card balance transfer fee reduced from 0.89% to 0.59%
New calculator helps customers manage payments and select the best credit card to meet their needs

Virgin Money has relaunched its market-leading credit card offering customers 40 months interest free on balance and money transfers, with a reduced balance transfer fee of 2.59%. The new card is available until April 1st.

The new card offers:

40 months 0% interest on balance transfers, with a one-off transfer fee of 2.59%
40 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
3 months 0% interest on purchases

The balance transfer fee on Virgin Money’s 30 month credit card has been reduced, meaning the card now offers:

30 months 0% interest on balance transfers, with a one-off transfer fee of 0.59%
30 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 at Virgin Money, said: "Our 40 month credit card has proven a big hit with customers previously. While the card is available until April 1st, this is a serious opportunity for customers to help manage their money."

New Online Credit Card Calculator
Virgin Money has also launched a new credit card calculator to help customers select the Virgin Money credit card that best meets their needs. Customers select the size of balance or amount of money they intend to transfer and their planned monthly repayment. The calculator then orders Virgin Money’s credit card range by overall cost, promotional period or length of time to repay the balance. Customers can try out different scenarios and see the impact of alternative payment plans, and the calculator also shows the monthly payment that will enable customers to clear their balance within the promotional period, avoiding any interest payments. The calculator is available at virginmoney.com/cards

John Natalizia added: "Our new calculator makes it simple and straightforward for everyone applying for a Virgin Money credit card to pick the option that best meets their needs. In doing so, they can see the impact of different monthly repayments, and also how they can clear their balance within the promotional period, avoiding any interest."

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 and train tickets. 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 email opens in a new window

NOTES TO EDITORS

Product details

Card	Balance transfer period	Balance transfer fee	Money transfer period	Money transfer fee	Purchase period	Representative APR (variable)
34 Month Balance Transfer	0% for 34 months	1.49%	0% for 34 months	4.00%	0% for 3 months	18.9%
30 Month Balance Transfer	0% for 30 months	0.89%	0% for 30 months	4.00%	0% for 3 months	18.9%
28 Month Balance Transfer	0% for 28 months	0.79%	0% for 28 months	4.00%	0% for 3 months	18.9%
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 offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to customers across the UK.
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 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 £315 million, 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.