Virgin No Annual Fee Credit Card
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 offers a variety of features without the cost of an annual fee. This includes an introductory offer of 0% on purchases and balance transfers for 12 months when you apply by 30 September 2021.
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% once the introductory period ends.
|Product Name||Virgin Money No Annual Fee Credit Card|
|Balance transfer rate||0% p.a. for 12 months|
|Balance transfer revert rate||Cash Advance Rate (20.99% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||0% p.a. for 12 months, reverts to 18.99% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||20.99% p.a.|
|Min credit limit||$2,000|
|Max credit limit||$10,000|
|Foreign currency conversion fee||3.3%|
|Available to temporary residents||No|
- $0 annual fee for the life of the card
- 0% p.a. interest rate for up to 12 months on balance transfers and purchases
- Competitive purchase interest rate of 18.99% p.a.
- The revert interest rates are relatively high
- Although the card is issued by Virgin Money, you will not earn Velocity Points for your spending
|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 applyYou 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.
- 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.
- 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.
- 0% purchase rate offer. Pay no interest on new purchases made with this card for the first 12 months when you apply by 30 September 2021. At the end of the introductory period, the purchase interest rate will revert to 18.99% Note that you will still be required to meet minimum repayments during the interest-free period.
- Balance transfer offer. If you apply by 30 September 2021, 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.
- Samsung Pay. You can link your credit card with 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 minimum credit limit for this card is $2,000.
- 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.
Sally McMullen is a creative content producer at Finder. Sally has written 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.