Virgin No Annual Fee Credit Card – Rates and Fees

Enjoy a balance transfer offer for up to 36 months and $0 ever with the 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 will 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 if you make these transactions.

Product NameVirgin No Annual Fee Credit Card
Balance transfer rate (p.a.)6.9% p.a. for 36 months
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 January 2019
Annual fee$0 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
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 upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened.
$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

  • Save with a $0 annual fee for the life of the card.
  • Take advantage of a 6.9% p.a. interest rate for up to 36 months on balance transfers if you apply by 31 January 2019.

Cons

  • Any outstanding balance that has been brought to the card using the balance transfer feature and not paid off during the introductory period will be charged interest at the cash advance rate.
  • Although the card is issued by Virgin Money, you will not earn Velocity Points for your spending.

Benefits of Virgin No Annual Fee Credit Card

  • $0 annual fee. Pay no annual fee ever with the Virgin No Annual Fee Card.
  • Balance transfer offer. If you apply by 31 January 2019, 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.
  • Additional cardholders. You are allowed to request up to 4 additional cardholders on your credit card for free.
  • 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.

Features of the Virgin Money No Annual Fee Card

  • 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 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.
  • 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.

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 at least 18 years of age.
  • You must have a good credit history with no record of being declined for a credit card.
  • You must earn at least $25,000 p.a. to apply for this card.

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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334 Responses

  1. Default Gravatar
    ChrisNovember 30, 2018

    Definitely not an instant approval card. I submitted all of my documents. So you have any idea how long will it take for them to get back to me with a decision? Wish I would’ve known this, as I would have opted for a different card.

    • finder Customer Care
      JhezelynDecember 6, 2018Staff

      Hello Chris,

      Thank you for your comment.

      If you haven’t heard from Virgin, you can contact them directly to check your credit card application status. They may be able to confirm the status of your application or they may ask you to provide further information. Please refer to our guide on how to check your credit card status here.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  2. 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

  3. 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?

    • Default Gravatar
      AshDecember 2, 2017

      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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

Credit Cards Comparison

Rates last updated December 13th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee. Ends 16 December 2018
More info
Suncorp Clear Options Platinum Credit Card - Online Offer
20.74% p.a.
0% p.a. for 18 months
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and earn up to 60,000 Bonus Rewards Points. Plus, a discounted first year annual fee when you apply online.
American Express Westpac Altitude Platinum Bundle - Qantas
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.

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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