Thumbnail icon for Virgin Money

Virgin Money Low Rate Card

Purchase rate
11.99% p.a.
Balance transfer rate
0% p.a. for 18 months and then 21.69% p.a. (2.00% balance transfer fee)
Annual fees
$99
Interest free days on purchases
55

Mozo editorial review Virgin Money Low Rate Card

Last updated: 5 June 2020.

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What's hot
  • Low 11.99% purchase rate
  • 0% on balance transfers for the first 18 months (2% BT fee applies)
  • 10% cashback on the first 3 months spending
What's not
  • Balance transfer reverts to high cash advance rate
Mozo snapshot

The all-new Virgin Money Low Rate Card pushes all the right buttons for a low rate credit card - a hot ongoing purchase rate of 11.99% and a 0% balance transfer rate for 18 months (2% BT fee applies). At the moment, you can also snag 10% cash back on your spending for the first 3 months you have the card (capped at $100).

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Key features

With some credit cards charging 20% interest you can save a bundle by switching to the Virgin Money Low Rate Card. It has an ongoing 11.99% purchase rate which is one of the lower credit card interest rates in the market. Pay off your balance in full each month and you'll enjoy up to 55 days interest free.

The balance transfer offer of 0% for 18 months gives you a manageable timeframe to pay off debt and save on interest. Be disciplined about those repayments so you pay back most of the debt in the interest free period, as any outstanding balance will be charged at the high cash advance rate of 21.69% once the balance transfer offer ends.

On the other hand, if you're planning to dive right into spending, then you could snag 10% cash back on your shopping for the first 3 months of having the card (capped at $100).

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Who is it good for

Both big and small spenders - anyone who is looking to save on interest and earns over $35,000 a year.

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Any catches

Just watch that 18 month balance transfer repayment window.

Details

Rates and fees information correct as at 2 October 2020 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 11.99% p.a.

  • none

  • 0% p.a. for 18 months and then 21.69% p.a. (2.00% balance transfer fee)

  • yes

  • 21.69% p.a.

  • 55

Fees
  • $99.00

  • none

  • none

  • none

  • $30.00

  • 2.7%, Min $2.70

  • 3.30%

  • $7.00

  • $7.00

  • $29.00

Features
  • $30.00

  • 2.0

  • yes

  • none

Payment options

Samsung Pay

Other benefits

10% cashback on purchases in the first 3 months from card approval, capped at $100 total.

Customer Reviews

How are Virgin Money credit cards rated by the Mozo community?

Overall
5.7/10
Price
6.1/10
Features
6.2/10
Customer service
5.5/10
Convenience
5.5/10
Trust
5.7/10

Latest reviews of Virgin Money Low Rate Card

  • Overall 8/10
    Virgin money is a good bank to deal with

    I like virgin money because of their ease of access and great customer service.

    Read full review

    I like virgin money because of their ease of access and great customer service.

    Price
    9/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kobi, New South Wales reviewed 4 days ago
  • Overall 9/10
    They take care of their customers.

    Customer service is top with Virgin even though they seem to have offshore call centres. When I’ve had unauthorised use of my card they have taken immediate action and rectified it twice. I feel secure using my card with purchases.

    Read full review

    Customer service is top with Virgin even though they seem to have offshore call centres. When I’ve had unauthorised use of my card they have taken immediate action and rectified it twice. I feel secure using my card with purchases.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Nazanin, New South Wales reviewed 10 months ago
  • Overall 6/10
    Great for velocity points

    Great for Velocity points, we pay our balance every month so unsure of interest rate for the card. High annual fee.

    Read full review

    Great for Velocity points, we pay our balance every month so unsure of interest rate for the card. High annual fee.

    Price
    5/10
    Features
    8/10
    Customer service
    7/10
    Convenience
    3/10
    Trust
    4/10
    Less
    Julie, Western Australia reviewed over 4 years ago
  • Overall 6/10
    Reduce rates

    Re-education rates and waiver over due accounts.

    Read full review

    Re-education rates and waiver over due accounts.

    Price
    6/10
    Features
    5/10
    Customer service
    7/10
    Convenience
    5/10
    Trust
    7/10
    Less
    Marylou, Queensland reviewed about 5 years ago
  • Overall 1/10
    Terrible

    Over the top credit department with a different story every time. No systems to deal with customers and unfortunately not in Australia.

    Read full review

    Over the top credit department with a different story every time. No systems to deal with customers and unfortunately not in Australia.

    Price
    4/10
    Features
    4/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    0/10
    Less
    Greg, South Australia reviewed about 5 years ago
Virgin Money

About Virgin Money

Virgin Money is a financial services company that differentiates itself with a high focus on customer service and a strong brand. It aims to offer great value banking and insurance products designed around what customers really want. In Australia, Virgin Money's banking products include savings accounts, credit cards, super and it also has a range of general insurance products including home and contents, car and travel insurance.

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