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Virgin Money relaunches market-leading 40 month credit card


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 credit card pages.

  • 40 months interest-free for balance transfers, with an effective balance transfer fee of 2.53%
  • New credit card customers can enter a "summer starts here" prize draw with the chance to win hampers and weekends away

Virgin Money has relaunched its balance transfer credit card which offers 40 months interest free with a market-leading effective balance transfer fee of 2.53%1.

The new card offers:

  • 40 months 0% interest on balance transfers, with an effective transfer fee of 2.53%1
  • 40 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. The card will be available until 30 June 2016.

All customers who successfully apply for any Virgin Money credit card by 30 June 2016, and then spend or transfer £500 by 15 July 2016, will be entered into a prize draw to win one of 40 Virgin Money summer hampers. The hampers include a range of goodies for the summer season including Bluetooth speakers, bottle of Virgin wine, music voucher, beach towel and sunglasses. In addition, three hamper winners will also enjoy a Virgin weekend away, with a Virgin Balloon flight, first class trip to the seaside on Virgin Trains or a VIP trip the Virgin Money Fireworks Concert in Edinburgh on offer.

Chris Taylor, Director of Credit Card Products at Virgin Money, said: "Our 40 month credit card has been very popular with customers previously, so we are delighted to reintroduce it along with the added bonus of the chance to win summer hampers and weekends away until the end of June."

Virgin Money won several awards for customer satisfaction, including Best Overall Customer Service and Best for Balance Transfers, in the uSwitch Credit Card Awards 2016, voted by over 10,000 credit card customers.

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


Media Contacts
Virgin Money Press Office
0191 279 4676


CardBalance transfer periodEffective Balance transfer feeMoney transfer periodMoney transfer feePurchase periodRepresentative APR (variable)
40 Month Balance Transfer0% for 40 months2.53%10% for 40 months4.00%0% for 3 months20.9%

1 The card has a contractual balance transfer fee of 3.50% (min £3) which the customer is initially charged. Once a balance transfer has been processed, within the first 60 days of account opening, a refund of 0.97% of the transfer amount is made to the customer’s account, making the effective balance transfer fee 2.53%. Customers will receive the refund within 14 days following the date of each balance transfer undertaken within the first 60 days from account opening.

  • 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.

Virgin Money provides a 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

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 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 over 3 million 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.
  • More than 11,500 charities have registered with Virgin Money Giving and, by the end of 2015, over £420 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £13 million more raised for charity because of its not-for-profit model.
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.