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Virgin Money welcomes the new year with a new credit card range

03/01/2017

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.

  • 41 months interest free for balance transfers, with a transfer fee of 3.09%
  • 32 months interest free for balance transfers, with a transfer fee of 0.63%
  • 27 months interest free for purchases

Virgin Money has started the New Year by launching a new range of credit cards, offering a number of attractive options for customers.

The new range includes:

Balance transfer cards

  • 41 months 0% interest on balance transfers, with a one-off transfer fee of 3.09%
  • 32 months 0% interest on balance transfers, with a one-off transfer fee of 0.63%
  • 30 months 0% interest on balance transfers, with a one-off transfer fee of 0.55%

Purchase / All Round cards

  • 27 months 0% interest on purchases
  • 26 months 0% interest on purchases, balance transfers and money transfers, with a one-off transfer fee of 2.69%

Introductory rates apply to balance and money transfers made within the first 60 days of account opening.

Chris Taylor, Director of Credit Card Products at Virgin Money, said: “January is the perfect time for people to take stock of their finances, and a credit card can be a very effective tool for saving money. Our new range of cards offers a number of attractive options depending on what the card is going to be used for.”

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.

Details of Virgin Money’s full range of 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)
41 month balance transfer0% for 41 months3.09%0% for 41 months3.79%0% for 3 months20.9%
32 month balance transfer0% for 32 months0.63%0% for 32 months4.00%0% for 3 months19.9%
30 month balance transfer0% for 30 months0.55%0% for 30 months4.00%0% for 3 months19.9%
27 month purchase0% for 20 months1.99%0% for 20 months2.99%0% for 27 months19.9%
26 month All Round0% for 26 months2.69%0% for 26 months2.69%0% for 26 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.

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.

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 virginmoney.com/cards

Applicants for Virgin Money credit cards can also take advantage of the Card Checker tool, which offers a quick way to see whether they are likely to be accepted for a card before submitting a full application, so there is no effect on their credit file. The Card Checker is available at virginmoney.com/cards.

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 over 3.2 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 12,500 charities have registered with Virgin Money Giving and, by the end of September 2016, almost £500 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £15.7 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.