Mozo Review Virgin Money Low Rate Card Review
Last updated: 27 June 2018.
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%, a 0% balance transfer rate for 14 months and a low $49 annual fee. 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).
With most 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 44 days interest free.
The balance transfer offer of 0% for 14 months gives you a manageable timeframe to pay off debt and save on interest. Be disciplined about those repayments so that 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 12 month 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).
Who it's good for:
Both big and small spenders - anyone who is looking to save on interest and earns over $35,000 a year.
Just watch that 14 month balance transfer repayment window.