Virgin Low Rate Credit Card
Last updated:
Take advantage of 0% p.a. interest for 6 months on balance transfers when you apply by 31 May 2020.
The Virgin Money Low Rate credit card offers a variable interest rate of 11.99% p.a. for purchases and a $99 annual fee.
0% p.a.
Balance transfer rate
for 6 months
11.99% p.a.
Purchase rate
$99 p.a.
Annual fee
55 days
Interest free period
Details
| Product Name | Virgin Money Low Rate Credit Card |
|---|---|
| Balance transfer rate | 0% p.a. for 6 months |
| Balance Transfer Revert Rate | Cash Advance Rate (21.69% p.a.) |
| Balance Transfer Limit | 80% of available balance |
| Purchase rate (p.a.) | 11.99% p.a. |
| Annual fee | $99 p.a. |
| Interest free period | 55 days |
| Cash advance rate (p.a.) | 21.69% p.a. |
| Min credit limit | $6,000 |
| Max credit limit | $100,000 |
| Card type | Visa |
| Foreign currency conversion fee (Visa/Mastercard) | 3.3% |
| 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 6 months applies if you apply and are approved by 31 May 2020.
Cons
- 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 | $99 p.a. |
|---|---|
| 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% |
| 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 Bradney-George is the acting editor for Finder X and a senior writer for credit cards and Finder Green. She has more than 13 years' experience as a journalist and writer, with bylines in publications including The Equity Magazine, The Sydney Morning Herald, ABC News and produce industry website FreshPlaza. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not putting (virtual) pen to paper, she spends her time as an actress.
