Low Rate Card card image

Virgin Money Low Rate Card

Advertiser disclosure
Purchase rate
11.99% p.a.
Balance transfer rate
0% p.a. for 15 months and then 21.69% p.a. (1.00% balance transfer fee)
Annual fees
$99
Interest free days on purchases
55

Mozo editorial review Virgin Money Low Rate Card

Last updated: 23 November 2020.

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What's hot
  • Low 11.99% purchase rate
  • 0% on balance transfers for the first 15 months (1% BT fee applies)
  • 55 days interest free
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 15 months (1% BT fee applies) and up to 55 days interest free.

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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 15 months gives you a manageable time frame 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.

Virgin Money are also giving loyal cardholders the chance to have the annual $99 fee waived over the long term. The annual fee will be waived for cardholders from their second anniversary when they spend at least $9,600 over the previous 12 months (on eligible purchases).


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Who is it good for

Both big and small spender - particularly those who are looking to save on interest with the relatively low purchase rate, or anyone who can take advantage of the long balance transfer offer. 

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Any catches

Just watch out for that high 21.69% cash advance rate which will be applied to any debt which still hasn't been paid off after 15 months following a balance transfer. 

Details

Rates and fees information correct as at 27 January 2021 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 15 months and then 21.69% p.a. (1.00% balance transfer fee)

  • yes

  • 21.69% p.a.

  • 55

Fees
  • $99.00

  • none

  • $9,600.00

  • 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

Apple Pay, Samsung Pay

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

Thumbnail icon for 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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1.25 points uncapped

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$299 $199 in the first year

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1 point up to $10,000/month, then
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Qantas Frequent Flyer

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0.75 points up to $2,500/month, then
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$279 $139 in the first year

200,000

1.5 points uncapped

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$0

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0.75 points uncapped

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$49 $0 in the first year

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0% p.a. for 26 months and then 20.99% p.a.

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0% p.a. for 24 months and then 21.49% p.a.

13.99% p.a.

$55 $0 in the first year

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0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

13.74% p.a.

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$49 $0 in the first year

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0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)

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0% p.a. for 15 months then 11.99% p.a.

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0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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11.99% p.a.

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0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

$49 $0 in the first year

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13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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0% p.a. for 15 months then 11.99% p.a.

No current offer

$45

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10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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3.99% p.a. for 6 months and then 8.99% p.a.

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$99 $49 in the first year

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10.99% p.a.

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0% p.a. for 14 months then 20.74% p.a.

0% p.a. for 6 months and then 20.99% p.a.

$129 $64 in the first year