Virgin Low Rate Credit Card
Last updated:
Take advantage of 0% p.a. interest for 14 months on balance transfers and an ongoing reduced annual fee offer.
The Virgin Money Low Rate credit card offers a variable interest rate of 11.99% p.a. for purchases, as well as a competitive balance transfer offer if you apply by 31 August 2019.
0% p.a.
Balance transfer rate
for 14 months
11.99% p.a.
Purchase rate
$49 p.a.
Annual fee
44 days
Interest free period
Details
| Product Name | Virgin Money Low Rate Credit Card |
|---|---|
| Balance Transfer Rate | 0% p.a. for 14 months |
| Balance Transfer Revert Rate | Cash Advance Rate (21.69% p.a.) |
| Balance Transfer Limit | 80% of available balance |
| Purchase Rate | 11.99% p.a. |
| Annual Fee | $49 |
| Interest Free Period | 44 days |
| Cash Advance Rate | 21.69% p.a. |
| Minimum Credit Limit | $6,000 |
| Maximum Credit Limit | $100,000 |
| Card Type | Visa |
| Foreign Currency Conversion Fee (Visa/Mastercard) | 3.3% of transaction value |
| Complimentary Travel Insurance | No |
| Minimum Income | $35,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available to Temporary Residents | No |
| Joint Application | No |
Pros
- This card features a low variable interest rate of 11.99% p.a. on purchases.
- An introductory balance transfer rate of 0% p.a. for 14 months applies if you apply and are approved by 31 August 2019.
- Pay an ongoing discounted annual fee of $49 (saving you $50 p.a.)
- Get 10% cashback (capped at $100) when you make an eligible purchase within 3 months of card approval.
Cons
- Only up to 44 days interest-free on purchases, which is much lower than the average 55 days interest-free offered by the majority of cards.
- An additional cardholder fee of $29 is high considering most cards offer supplementary cards for free.
- No rewards program, which means you cannot be rewarded for your spending on this card.
| Annual Fee | $49 |
|---|---|
| Minimum Monthly Repayment | 2% of the closing balance or $30, whichever is greater |
| Late Payment Fee | $30 |
| Foreign Currency Conversion Fee (Visa/Mastercard) | 3.3% of transaction value |
| Cash Advance Fee | 2.7% or $2.70, whichever is greater |
| Overseas Cash Advance Fee | 5% |
| Additional Cardholder Fee | $29 |
| Number of Additional Cardholders | 4 |
Expert review
Review by
Amy Bradney-George
amy.bradney-george@finder.comAmy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.
