Reviewed: Virgin Money credit cards | moneyfacts.co.uk

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Published: 18/02/2022

Virgin Money is certainly a name to be aware of in the credit card sector, with deals that regularly take a place among the best credit cards available. So what’s on offer, and how can you benefit? Here’s everything you need to know about Virgin Money credit cards.

What Virgin Money credit cards are available?

Typically, Virgin Money has credit cards available in the reward, travel, balance transfer and purchase sectors, including (as at 18 February 2022):

Virgin Money Atlantic Reward Credit Card

This card is ideal for frequent flyers, offering 0.75 Flying Club miles for every £1 spent and 1.5 miles for every £1 spent with Virgin Atlantic or Virgin Holidays. Borrowers who spend £20,000 a year or more on their card can choose an extra benefit – either an upgrade to a Premium flight, or a Companion ticket. Cardholders can also benefit from a six-month interest-free period for both balance and money transfers (fees apply). This particular card doesn’t charge an annual fee, but there’s also the Plus version that offers a heightened standard of rewards in return for a £160 annual charge. 

Virgin Money Balance Transfer Credit Card Mastercard

Virgin Money offers some of the best balance transfer cards around, typically offering several deals at any one time with different interest-free periods and associated fees..

Virgin Money All Round Credit Card Mastercard

This deal offers interest-free balance transfers, money transfers and purchases, offering a complete solution to your borrowing needs. In a similar vein to the above, a range of cards with different 0% terms will typically be available, so make sure you do your research to decide which is best suited to your requirements.

Virgin Money Travel Credit Card Mastercard

Specifically designed for those who head abroad on a regular basis, the bank’s travel card offers fee-free foreign usage as well as a nine-month 0% period for purchases, balance and money transfers.

 

With any of the above card options, borrowers can also benefit from deals across the wider Virgin Group, as well as cashback and membership of the Virgin Red rewards scheme, which we’ll discuss in more detail below.

Will I be eligible?

Eligibility criteria varies between cards, and the only way you’re likely to know if you’ll make the grade is to complete Virgin Money’s online eligibility checker. That said, it’s worth spending time making sure your credit score is up to scratch beforehand, as a poor credit history can block you from the best offers.

What are rates and fees like?

Again, this will vary between cards, though there are a few commonalities between them. Most don’t charge an annual fee and you’ll typically be looking an introductory balance transfer fee of up to 3.0%, with standard purchase rates of around 21.9% APR. Late payment fees and similar are around £9. The All Round Credit Card has higher rates and fees. To get an accurate and up-to-date idea of the fees you could be faced with, check out our credit card charts beforehand.

How can I apply for a Virgin Money credit card?

Virgin Money credit cards can easily be applied for online. Start by using their card checker to see your chances of being accepted, and from there you’ll be able to fill in the simple online form. In some cases you’ll be able to get a decision there and then, though if they need more information or want to check certain details, it could take a day or two. If approved, you’ll receive your card within seven-10 business days.

How can I manage my credit card?

You can manage your credit card online or via mobile banking, with a full-featured app available for all cardholders. You’ll be able to view your transactions, manage money and balance transfers, set up Direct Debits and more.

Can I earn cashback on my spending?

Yes. Thanks to the Virgin Money Back scheme, you can earn cashback on your everyday spending at a whole range of retailers – cardholders simply need to log in to their credit card app, sign up to Virgin Money Back and check out the offers available, and provided they use the card linked to their Virgin Money Back account, they could soon see the rewards add up. 

 

Once you start earning, cashback will be sent to your Virgin Money Back account within 35 days, and you’ll have the choice to get it transferred to your UK back account or your credit card account, where it can be used to pay off all or part of your balance.

What is Virgin Red?

Virgin Red is another way for cardholders to earn something back. It’s a rewards club that allows you to earn Virgin Points on your everyday purchases, and you can redeem them on anything from free bites at Greggs to a cruise with Virgin Voyages. It’s free to join, too.

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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