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Virgin Money Low Rate Card

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Take advantage of 0% p.a. interest for 18 months on balance transfers when you apply by 30 November 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 18 months with 2% balance transfer fee

11.99% p.a.

Purchase rate

$99 p.a.

Annual fee

55 days

Interest free period

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Product NameVirgin Money Low Rate Credit Card
Balance transfer rate0% p.a. for 18 months with 2% balance transfer fee
Balance transfer revert rateCash Advance Rate (21.69% p.a.)
Balance transfer limit80% of available limit
Purchase rate11.99% p.a.
Annual fee$99
Interest-free period55 days
Cash advance rate21.69% p.a.
Min credit limit$6,000
Max credit limit$100,000
Card typeVisa
Foreign currency conversion fee3.3%
Minimum income$35,000
Available to temporary residentsNo
Joint applicationNo


  • 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 18 months applies if you apply and are approved by 30 November 2020.


  • An additional cardholder fee of $29 is high considering most cards offer supplementary cards for free.
  • This card charges a 2% balance transfer fee.
  • No rewards program, which means you cannot be rewarded for your spending on this card.
Annual fee$99
Minimum monthly repayment2% of the closing balance or $30, whichever is greater
Late payment fee$30
Foreign currency conversion fee3.3%
Cash advance fee2.7% or $2.70, whichever is greater
Overseas cash advance fee5%
Additional cardholder fee$29
Number of additional cardholders4

Expert review

Amy Bradney-George

Review by

Amy Bradney-George is the acting editor for credit cards and has more than 13 years’ experience writing about personal finance. She has bylines in publications including The Sydney Morning Herald, ABC News and The Equity Magazine. A passionate writer, she’s also acting editor for Finder X and senior writer for Finder Green. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not writing she spends her time as an actress.

Expert review

The Virgin Money Low Rate is a simple credit card that offers cost-saving features, including an ongoing variable purchase rate of 11.99% p.a. that is comparable to other low rate cards. It also gives you a way to make payments from your eligible mobile device when you set it up with Samsung Pay.

How to apply

You can apply for the Virgin Money Low Rate credit card online in around 10 minutes. Get started by checking that you meet the eligibility requirements and have all the documents and details you'll need to fill in the secure application form.

Eligibility criteria

  • Minimum income. You can apply for this card if you earn more than $35,000 per year.
  • Residency. You must be an Australian citizen or permanent resident.

Card benefits

  • Balance transfer offer. This card offers 0% p.a. for 18 months on balance transfers with a one-time 2% balance transfer fee when you apply by 30 November 2020. You can request a balance transfer from Australian credit cards, store cards or personal loans, as long as they are held with another financial institution (not Citi). At the end of the promotional period, any remaining debt from the balance transfer will attract the card's variable cash advance rate of 21.69% p.a.
  • Competitive purchase rate. This card offers an ongoing variable interest rate of 11.99% p.a. for purchases, which could help you save on charges if your current credit card has a higher purchase rate.
  • 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.

Rates & fees

  • Annual fee. This card charges an annual fee of $99.
  • Additional cardholders. If you want to share your account with someone, you can add up to 4 additional cardholders for a $29 annual fee per card.

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  1. Default Gravatar
    June 5, 2018

    Hi Jacob,
    1. We are self funded retirees, and our combined income is $52K per annum. Would we be eligible to apply for this credit card as joint applicants?
    2. We like the cash back offer on this card but it states that it is only valid for 3 months. Does it continue with a lesser reward or does it stop completely?
    3. We are looking to use this card for all of our on going bills. Would this be our best option or can suggest something else, please?

    Thank you.

    • Avatarfinder Customer Care
      June 6, 2018

      Hi Muriel,

      Thank you for getting in touch with finder.

      This card doesn’t allow to apply as joint applicants. However, you can have up to 4 additional cardholders with an additional cardholder fee of $29.

      Until 30 June 2018, you can lock in a discounted annual fee for the life of the card and get $100 cashback when you spend $500 per month for the first 3 months-stop completely after 3 months. Also it has no built-in rewards program, which means you cannot be rewarded for your spending on this card.

      If you want to know some institutions that allow joint account credit cards, please check out this link.

      While some cards reward you with points, on this page, you will see list of credit cards that give you cash rewards for your spend. There are a few different types of cashback offers available on the Australian market, with some cards offering introductory cashback promotions and others earning cash as a percentage of your spending.

      I hope this helps.

      Have a great day!


  2. Default Gravatar
    March 13, 2014

    Three questions.
    1. Can We set up direct debits to, say, power, phone companies?
    2. We are used to running a joint account, can we continue to do this?
    3. What’s the difference between red and black cards?

    • Avatarfinder Customer Care
      March 14, 2014

      Hi, Basil.

      Thanks for your question.

      Check this page for information about which providers offer joint primary cardholders.
      Setting up a direct debit is no problem with this account, and most other credit card accounts. You can set up a direct debit agreement to pay power or phone companies by speaking to the provider. All you should have to do is fill out a form authorizing the services provider to debit your account.
      There is no different between the two cards, you’re given the option of choosing a red or black coloured card when you apply for this account.

      I hope this helps. Please let us know if you have any further questions.

  3. Default Gravatar
    November 16, 2012

    after the initial promo balance transfer, does the card offer additional capacity for other balance transfers int he future, and at what terms?

    • Avatarfinder Customer Care
      November 16, 2012

      Hi Steve. This does happen; however it’s at the lenders discretion and is not commonly advertised. Generally speaking, advertised balance transfer offers are only available to new customers. Cheers.

  4. Default Gravatar
    November 11, 2012

    I requested a credit card but have not heard any further. Please contact and let me know if I have made any errors in my application. Thanks Jane

  5. Default Gravatar
    November 10, 2012

    Does this card also have pay wave option

    • Avatarfinder Customer Care
      November 12, 2012

      Hi Satish. The Virgin Low Rate Visa does not offer Paywave as a feature. This is offered with the Virgin Flyer and High Flyer Credit Cards. Thanks for your question.

  6. Default Gravatar
    November 5, 2012

    I would like to order a new card please.

    • Avatarfinder Customer Care
      November 5, 2012

      Hi Deborah. Thanks for your question. If you would like a replacement card, please contact Virgin directly. Alternatively, if you would like to apply for a new account, please follow the link on the review page to be taken to a secure Virgin application page. Thanks.

  7. Default Gravatar
    October 1, 2012

    In your Virgin Low Rate Credit Card Review, you state 44 days interest free, but in the Fees & Repayments on the same page, you state Interest Charged from Purchase Date – which is correct, please?

    • Avatarfinder Customer Care
      October 2, 2012

      Hi Mim. Interest will be calculated from the day you use your card to make a purchase or withdraw money from an ATM. According to the Virgin Low Rate Card Terms and Conditions, ‘If you do not pay your account in full by the due date and you carry a balance on your credit card from month to month the 44 days interest free period does not apply. If you then make a purchase you are charged interest. You will then need to pay your balance off in full for 2 consecutive months for the maximum 44 days interest free period to take effect. No interest free period is available on Cash Advances or Balance Transfers.’ Thanks for your question.

  8. Default Gravatar
    July 15, 2012

    hi we are looking for a new credit card that earns points you can use for flights within australia and internationally which card do you recommend .
    many thanks rick

    • Avatarfinder Customer Care
      July 17, 2012

      Hi Richard. Please refer to our frequent flyer page for a comparison of frequent flyer credit cards. Thanks for your question.

  9. Default Gravatar
    June 9, 2012

    I have a credit card with commonwealth it has an overlimit of 300 i want to transfer my 3900 balance to your credit card which has a lower interest rate.. Is this possible??

    • Avatarfinder Customer Care
      March 27, 2013

      Hi Laura. Thanks for your question and sorry about the delay in the response. You can do this no problems provided that you’re successful in your application. If you have any questions about the balance transfer process, watch our videos on the topic, ‘what is a balance transfer‘, and ‘what happens after you do a balance transfer?’.

  10. Default Gravatar
    May 5, 2012


    Can I just confirm with this Virgin Credit card your minimum credit limit is $6,000?

    That doesn’t sound right?


    • Avatarfinder Customer Care
      May 18, 2012


      Thanks for the question. The following is taken from the Virgin FAQ page: “The Virgin No Annual Fee Credit Card has a minimum Credit Limit available of $2,000 and maximum of $10,000.
      All our other credit cards have a minimum Credit Limit of $6,000 and a maximum of $100,000 (the maximum you can request at application is $30,000).” – Cheers.


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