Virgin Money ups 0% purchase credit card | Product News - Moneyfacts

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Virgin Money ups 0% purchase credit card

Virgin Money ups 0% purchase credit card

Category: Credit cards
Date: 09/07/2015

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 It is now over 6 months old so the content may be out of date.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 increased the length of its interest-free purchase offer on its credit card, taking it to a market-leading 24 months.

The basics…

Virgin All Round Credit Card MasterCard now has a 24-month 0% purchase, money transfer and balance transfer term, taking it to the top of the leaderboard for its sector.

The finer details…

In order to qualify for the introductory balance transfer rate, borrowers must transfer balances within 60 days of the account opening. An introductory fee of 1% will be charged, while money transfers are charged at 1.90%.

After the initial offers expire, balance transfers will be charged at 20.9% per annum and money transfers will be charged at 22.9% (both with a fee of 5%), while purchases will attract a rate of 18.9% APR.

This card is for borrowers aged 18 and over and can be opened online and by phone. Applicants should remember that the rates are dependent on their credit rating.

Why we like it…

The extension of the 0% purchase period on this card takes has taken it to the top of the charts, something that is bound to appeal to borrowers who are looking to reduce the cost of their spending. The lengthy balance transfer deal will also appeal to those who are looking to reduce their credit card debt, although borrowers must ensure that the balance is transferred within 60 days to be eligible for the introductory rate.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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