Virgin Money cuts credit card fee | Product News - Moneyfacts

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Virgin Money cuts credit card fee

Virgin Money cuts credit card fee

Category: Credit cards
Date: 05/05/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Virgin Money has reduced the fee of its 36-month balance transfer card by 0.50%, bringing it to the same level as the current market-leader of its sector.

The basics…

36 Month Balance Transfer Credit Card MasterCard has a 0% balance transfer period of 36 months with a balance transfer fee of 2.99%, which makes it joint market-leader. It also offers 36 months of money transfers and six months of purchases interest-free.

The finer details…

Balance and money transfers must be made within the first 60 days to qualify for the introductory interest-free rates.

After the introductory offers have expired, the standard purchase rate will rise to 18.9% APR while the balance transfer rate will increase to 18.9% per annum with a 5.00% fee. Money transfers will carry a rate of 20.9% per annum.

Applicants for both cards must be at least 18 years old. Applications can be made by phone and online, and managed in the same way as well as by post. Borrowers should remember that rates are dependent on their credit history.

Why we like it…

This card already boasted a joint market-leading 0% balance transfer period, but it now also matches the market-leader's competitive fee. As a result, borrowers shopping around for a good deal are likely to be pleased by the increased competition.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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