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Our verdict

Save on card costs with 0% on purchases and balance transfers for the first 12 months with a new Virgin Money No Annual Fee Card.

The Virgin No Annual Fee credit card is a low frills product that can be used to repay an existing debt or cut back on card costs. The purchase rate and balance transfer offers are both a decent length, but have revert rates that are higher than some other cards at 18.99% p.a. for purchases and 20.99% p.a. for balance transfers. These rates will be charged if you have any remaining purchase or balance transfer debt at the end of the introductory period.

If you’re using the card to make purchases, it’s also wise to repay your balance in full each statement period to avoid the high interest rate and to take advantage of the interest-free days.

Pros

$0 annual fee for the life of the card
0% p.a. interest rate for 12 months on balance transfers and purchases
Fraudshield security and Visa Zero Liability to help protect your account

Cons

The revert interest rates are relatively high
Although the card is issued by Virgin Money, you will not earn Velocity Points for your spending

The Virgin No Annual Fee credit card offers a variety of features without the cost of an annual fee. This includes an introductory offer of 0% p.a. on purchases and balance transfers for 12 months when you apply by 14 May 2024.

At the end of the introductory period, this card charges a 18.99% p.a. purchase rate. Any remaining balance transfer debt will also attract a 20.99% p.a. once the introductory period ends.

Details

Product details

Product Name	Virgin Money No Annual Fee Credit Card
Balance transfer rate p.a.	0% for 12 months, then 20.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	0% for 12 months, then 18.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	20.99%
Min credit limit	$2,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$25,000
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.3%
Cash advance fee	2.7% or $2.70, whichever is greater
Overseas cash advance fee	5%
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the Virgin No Annual Fee credit card and complete the secure online application in 10 minutes. Before you apply, check that you meet the eligibility criteria and have the required information ready to go.

Eligibility criteria

Income. You must earn at least $25,000 p.a. to apply for this card.
Credit history. You must have a good credit history with no record of being declined for a credit card. You can check your comprehensive credit report and score for free through Finder.

Age. You must be at least 18 years of age.

Required documents

Personal details. This includes your full name, date of birth, residential address and contact details.
Proof of identification. You'll need to prove that you meet the residency and age requirements by providing proof such as your driver's license or passport. You'll also need the information on those documents like your driver's license number.
Income. You can prove your income with recent payslips or bank statements.
Finances. You'll also have to provide details regarding any assets, liabilities and other living expenses that you have.
Balance transfer. If you're conducting a balance transfer, you'll need to include the account numbers and size of the debts that you want to transfer.

Card benefits

0% purchase rate offer. Pay no interest on new purchases made with this card for the first 12 months when you apply by 14 May 2024. At the end of the introductory period, the purchase interest rate will revert to 18.99% p.a. Note that you will still be required to meet minimum repayments during the interest-free period.
Balance transfer offer. If you apply by 14 May 2024, you can take advantage of a 0% p.a. for the first 12 months on balance transfers. Once the introductory period is over, the rate reverts to the cash advance rate (currently 20.99% p.a.). You can transfer up to 80% of the approved credit limit from non-Virgin accounts.

$0 annual fee. Pay no annual fee ever with the Virgin No Annual Fee Card.
Additional cardholders. You can request up to 4 additional cardholders on your credit card for free.
Security. Fraudshield is used to monitor and alert you of fraudulent activities while chip technology gives you greater security against unauthorised transactions. Cardholders are also protected with the Visa Zero Liability policy, so you won't be liable if your card is used to make fraudulent transactions.
Mobile wallets. You can link your credit card with Google Pay, Apple Pay and Samsung Pay to make contactless payments with your eligible smartphone or smartwatch.

Rates & fees

Interest rates. This credit card charges a purchase rate of 18.99% p.a. and a cash advance rate of 20.99% p.a. (variable).
Up to 55 interest-free days. You can save with up to 55 days interest-free on purchases provided that you pay your balance in full by the due date on each statement. Please note that you are not eligible for interest-free days while you are carrying debt from a balance transfer.

Credit limit. The credit limit for this card starts at $2,000, but can go as high as $30,000 depending on your income and credit history.
Foreign transaction fee. If you use this card overseas or online with an international retailer, you'll pay a fee of 3.3% of the total transaction cost.

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Sally Finder

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Karen

June 15, 2023

Hi

I’m wondering if I would be eligible to get this offer as I am the holder of another Virgin c/c which has a balance of less than $1,000 and will be completely paid off by the second week in July. I would like to transfer a balance from a credit card at another bank which is at approx $4,600 and I would like to apply for a balance of approx $7,000 and once the balance is paid at the other card I will then cancel that one and keep this one only. I earn approx [REDACTED] per annum and have a good credit history and own my own car which is only 1 year old.

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Amy Bradney-George Finder

June 16, 2023

Hi Karen,

As you’re an existing customer, you may want to discuss this with Virgin Money directly by calling 13 37 39. Alternatively, you can compare other balance transfer credit card offers on Finder. I hope that helps.

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Freya

December 17, 2018

I earn $25,480 on disability support pension, would Virgin accept this as my income it is over the minimum $25,000 that they require? My credit score is good too. What are my chances?

Jhezelyn Finder

December 19, 2018

Hello Freya,

Thank you for your comment.

For as long as you meet the eligibility criteria set by the issuer, you’ll have a bigger chance to be approved. You may refer to our credit card application tips to know how to get approved when you apply.

Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

Regards,

Jhezelyn

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Chris

November 30, 2018

Definitely not an instant approval card. I submitted all of my documents. So you have any idea how long will it take for them to get back to me with a decision? Wish I would’ve known this, as I would have opted for a different card.

Jhezelyn Finder

December 05, 2018

Hello Chris,

Thank you for your comment.

If you haven’t heard from Virgin, you can contact them directly to check your credit card application status. They may be able to confirm the status of your application or they may ask you to provide further information. Please refer to our guide on how to check your credit card application status.

Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

Regards,

Jhezelyn

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Gilliah

December 02, 2017

I currently have a Virgin credit card with 0 balance, can I apply for interest free period on a balance transfer?

Ash Munoz

December 02, 2017

Hi Gilliah,

Thank you for reaching out to us.

You may take advantage of the Virgin Money No Annual Fee Card 0% p.a. balance transfer offer for 12 months if you are a new credit card applicant. You shouldn’t have an existing account with Virgin to avail their introductory promo. The balance transfer rate will revert back to 20.99% once the promo period ends.

I hope this helps. Please do not hesitate to reach out to us again if you have additional questions.

Cheers,

Ash

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Andy

March 12, 2017

If I decide to cancel the card (with zero balance) in less than a year, will I be penalized?

Anndy Lou Finder

March 12, 2017

Hi Andy,

Thanks for your question.

You’ll not incur a fee or penalty when you close your account in less than a year, as long as you did it the right way.

Cheers,

Anndy

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Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong. See full profile

Virgin No Annual Fee Credit Card

Our verdict

Pros

Cons

Details

Product details

Eligibility

Rewards

Fees

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Your reviews

Ask a question

Virgin No Annual Fee Credit Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Your reviews

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