Virgin Money Low Rate Card

11.99% p.a.

0% p.a. for 14 months and then 21.69% p.a.

$49

n/a

Virgin Money Low Rate Card

11.99% p.a.

0% p.a. for 14 months and then 21.69% p.a.

$49

n/a

Mozo Review   Virgin Money Low Rate Card Review

Last updated: 27 June 2018.

What's hot:
  • Low 11.99% purchase rate

  • 0% on balance transfers for the first 14 months

  • Low $49 annual fee

  • 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%, 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).

Key features:

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.

Any catches?

Just watch that 14 month balance transfer repayment window.

Details

Rates and fees information correct as at 19 September 2018.

Rates
  • 11.99% p.a.

  • none

  • 0% p.a. for 14 months and then 21.69% p.a.

  • yes

  • 21.69% p.a.

  • 44

Fees
  • $49.00

  • none

  • none

  • none

  • $10.00

  • 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 customer rating
5.7/10
Price
5.8/10
Features
6.1/10
Customer service
5.6/10
Convenience
5.6/10
Trust
5.7/10

Latest reviews of Virgin Money Low Rate Card

  • Overall
    6/10
    Great for velocity points

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

    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

    Julie | WA

    14 Apr 2016

  • Overall
    6/10
    Reduce rates

    Re-education rates and waiver over due accounts.

    Re-education rates and waiver over due accounts.

    Price
    6/10
    Features
    5/10
    Customer service
    7/10
    Convenience
    5/10
    Trust
    7/10

    Marylou | QLD

    04 Sep 2015

  • Overall
    1/10
    Terrible

    Over the top credit department with a different story every time. No systems to deal with...

    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

    Greg | SA

    07 Aug 2015

  • Overall
    5/10
    Reasonably competitive

    I have one of the lower interest rate cards, but only have 31 days credit before payment has to...

    I have one of the lower interest rate cards, but only have 31 days credit before payment has to be made.

    Price
    5/10
    Features
    5/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    7/10

    Eunice | SA

    28 Mar 2014

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.

See Virgin Money credit cards