Virgin No Annual Fee Credit Card – Rates and Fees

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Enjoy a long-term balance transfer offer for 36 months, features and security with Virgin Money No Annual Fee Card.

The Virgin No Annual Fee Credit Card offers a variety of valuable features without the cost of an annual fee. One perk includes the balance transfer offer of 6.9% p.a. for a period of 36 months. You can also get a 18.99% p.a. purchase rate while enjoying up to 44 days of interest-free purchases.

This credit card comes with round-the-clock security and cardholders are protected by Fraudshield and a zero liability policy on fraudulent or unauthorised transactions. Although you will not pay annual fees, you will pay cash advance fees and a foreign currency exchange fee.

Product NameVirgin No Annual Fee Credit Card
Balance transfer rate (p.a.)6.9% p.a. for 36 months with 3% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (20.99% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)18.99% p.a.
Offer end date31 October 2018
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)20.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$2,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$10,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.3% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$0 p.a.
Minimum Monthly Repayment2% or $30 (whichever is greater)
Late Payment Fee$10
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.3% of transaction value
Cash Advance Fee$2.70 per transaction on cash advance <$100; 2.7% of the transaction amount for $100 & over
Overseas Cash Advance Fee$5
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders4

Pros

  • This card has a $0 annual fee – ever.
  • Take advantage of a competitive interest rate of 6.9% p.a. for 36 months on balance transfers if you apply by 31 October 2018.

Cons

  • Any outstanding balance that has been brought to the card using the balance transfer feature and not paid off will be charged at the cash advance rate of interest.
  • There is no rewards program attached to this card, so you can't be rewarded for your spending.

Benefits of Virgin No Annual Fee Credit Card

  • $0 annual fee for the life of the card. Pay no annual fee for life with the Virgin No Annual Fee Card.
  • Balance transfer offer. If you apply by 31 October 2018, you can take advantage of a 6.9% p.a. for the first 36 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 to this credit card. Keep in mind no interest-free days will be awarded while you carry a balance month to month.
  • Competitive interest rates. The interest rates that are offered with this card are quite competitive. The standard purchase rate is 18.99% p.a. while with cash advance you get a rate of 20.99% p.a.
  • Quick card replacement. You don’t have to wait for too long to have your lost or stolen card replaced as the card provider offers a replacement service.

Features of the Virgin Money No Annual Fee Card

  • Up to 44 interest-free days. This card offers up to 44 days interest-free on purchases when you pay your account off in full by the due date on your statement.
  • Security. Fraudshield is used to monitor your card against fraudulent activities while Chip technology gives you greater security against unauthorised transactions. Cardholders are also protected with the Visa Zero Liability policy.
  • Additional cardholders. You are allowed to request up to 4 additional cardholders on your credit card for free. The minimum age limit for this cardholder is 16 years old.
  • Visa payWave. Wave & go for purchases up to $100 with merchants who have the Visa payWave sensor.

How to apply for the Virgin Money No Annual Fee Card

Applying for the Virgin Money No Annual Fee Card through the online application should take you only 10 minutes. However, Virgin Money first needs to ensure that you meet the following conditions.

Eligibility criteria

  • You must be 18 years or older.
  • Cardholders must have a good credit history with no record of being declined for a credit card.
  • You'll need a minimum annual income of $25,000 p.a.
  • This card is only appropriate for cardholder who want a minimum credit limit of $2,000.

Required documents

  • 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.
  • In order to prove that you meet the income requirements set by Virgin you’ll have to have documents outlining your income. This can be payslips, bank statements, or any other relevant financial information.

If you meet these eligibility requirements, simply choose your preferred card colour and secure an online application form.

Always compare other similar options available before applying for any credit card. That said, you can enjoy the benefits that come with the Virgin No Annual Fee Card if you decide it’s right for you.

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332 Responses

  1. Default Gravatar
    AnnetteJuly 27, 2018

    Can I earn velocity points for virgin flights on the virgin money no annual fee credit card? Thanks.

    • finder Customer Care
      NikkiJuly 27, 2018Staff

      Hi Annette!

      Thanks for your inquiry.

      I’m afraid the Virgin No Annual Fee Credit Card doesn’t earn any rewards points.
      You can check out the credit cards earning Velocity points here.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Nikki

  2. Default Gravatar
    GilliahDecember 2, 2017

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

    • finder Customer Care
      AshDecember 2, 2017Staff

      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

  3. Default Gravatar
    AndyMarch 13, 2017

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

    • finder Customer Care
      LouMarch 13, 2017Staff

      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.

      You may check our card cancellation guide on this page for your reference.

      Cheers,
      Anndy

  4. Default Gravatar
    ParamJanuary 17, 2017

    Can one balance transfer amounts from 2 cards. One of self and the other spouse as long as they are both together within credit limit

    • finder Customer Care
      MayJanuary 17, 2017Staff

      Hi Param,

      Thanks for your question.

      Unfortunately, Virgin Money credit cards do not allow joint balance transfer. The credit cards that allow this are listed on this page.

      Cheers,
      May

  5. Default Gravatar
    melanieJanuary 16, 2017

    buy card

    • finder Customer Care
      MayJanuary 16, 2017Staff

      Hi Melanie,

      Thanks for getting in touch.

      We’d like to assist you further if you could please clarify your question.

      Thanks and cheers,
      May

  6. Default Gravatar
    TiaOctober 16, 2016

    Can I transfer to 2 other credit cards I currently want to pay out?

    • finder Customer Care
      JasonOctober 20, 2016Staff

      Hi Tia,

      Thanks for your inquiry.

      As long as you have a good credit file history and you meet the application criteria, then there will be no issues applying for a card.

      If you’re interested in applying for this card, before you submit an application, get in touch Virgin Money first to discuss your chances of approval. This way, you can also avoid an enquiry on your credit file and keep it healthy.

      Cheers,
      Jason

  7. Default Gravatar
    MannOctober 4, 2016

    Hi , can you please let me know is it work to payoff personal loan.
    Thanks

    • finder Customer Care
      MayOctober 4, 2016Staff

      Hi Mann,

      Thanks for your question.

      If you are looking to pay off your personal loan, you may like to reconsider checking this page instead. There are lenders listed on that page who offer debt consolidation products.

      Whilst you can access funds from a credit card through cash advance to pay off a personal loan, cash advances may incur unnecessary high-interest rates and fees. So you may have to look for this factor before using a credit card to pay off a debt.

      Cheers,
      May

  8. Default Gravatar
    September 21, 2016

    How can you pay off the balance each month?

    • finder Customer Care
      ArraSeptember 21, 2016Staff

      Hi Sandra,

      Thanks for your inquiry.

      You have four options to repay your credit card balance, which are either by Direct Debit Auto Pay, Cheque, via Bank@Post at an Australia Post office or via BPAY from any other suitable bank account that you have. You might also want to check the page I’ve sent to your email for a more detailed explanation.

      I hope this has helped.

      Cheers,
      Arra

  9. Default Gravatar
    September 13, 2016

    If I apply for this credit card on 29 September, and it doesn’t get approved till after 30 September will I still be entitled to the balance transfer offer/no annual fee? Also how long from the approval date am I eligible for the balance transfer/no annual fee offer? For example, I get approved on 30 September – do I have 30 days to transfer the balance from my other credit card for the offer to apply? Or must I have done so before 30 September? Thanks

    • finder Customer Care
      AllySeptember 21, 2016Staff

      Hi Sarah,

      Thanks for your inquiry.

      Kindly note that you have come through to finder.com.au, a financial comparison website and general information service, not actually Virgin Money.

      Anyhow, you can take advantage of the 0% p.a. balance transfer offer once you get approved on or before 30 September 2016 and you can enjoy it for a good 18 months upon the date of approval.

      As for the $0 annual fee, it is already part of the card’s feature so it is applicable for the entire life of the card.

      I hope this has helped.

      Cheers,
      Ally

  10. Default Gravatar
    MinhSeptember 13, 2016

    Hi I have had my new credit card with me bank for less than a month. I have no credit or loan history prior as I have always paid outright. Is there a minimum period of time I have to own my previous credit card for before I will be accepted by virgin?

    • finder Customer Care
      SharonSeptember 21, 2016Staff

      Hi Minh,

      Thanks for your inquiry.

      As long as you have a good credit file history and you meet the minimum application criteria, then there will be no issues applying for the card.

      If you’re interested in applying for this card, before you submit an application, get in touch Virgin Money first to discuss your chances of approval. This way, you can also avoid an enquiry on your credit file and keep it healthy.

      I hope this helps.

      Sharon

Credit Cards Comparison

Rates last updated September 22nd, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
Westpac Altitude Platinum Card - Qantas
20.24% p.a.
$50 p.a. annual fee for the first year ($200 p.a. thereafter)
Earn 60,000 bonus Qantas Points when you spend $3,000 within 90 days of card approval. Plus, a $50 first year annual fee.
St.George Vertigo Visa
13.74% p.a.
0% p.a. for 16 months
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitively low annual fee and purchase rate.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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