Enjoy a 0% p.a. balance transfer offer for 12 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 0% p.a. for a period of 12 months (3% balance transfer fee applies). This offer also comes with a balance transfer fee refund when you spend $2,000 or more on eligible purchases in the first 3 months from card approval. 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 Name||Virgin No Annual Fee Credit Card|
|Balance transfer rate (p.a.)||0% p.a. for 12 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 Limit||80% of available credit limit|
|Purchase rate (p.a.)||18.99% p.a.|
|Offer end date||28 February 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.
|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.
|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 Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$0 p.a.|
|Minimum Monthly Repayment||2% or $30 (whichever is greater)|
|Late Payment Fee||$10|
|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|
|Foreign Currency Conversion Fee|
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.
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||4|
- This card has a $0 annual fee – ever.
- Benefit from a balance transfer fee refund if you spend $2,000 on eligible purchases in the first 3 months from card approval.
- Take advantage of a competitive interest rate of 0% p.a. for 12 months on balance transfers.
- A 3% balance transfer fee applies.
- 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.
Virgin Money No Annual Fee Card review
There are three key areas to consider with the Virgin Money No Annual Fee Card and these are: its features, rates and fees and security. You can take advantage of features such as the 0% balance transfer offer, interest-free days and $0 annual fee. Use Visa payWave contactless technology to cut your time at the cash register and shop with peace of mind thanks to Fraudshield security.
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.
- 0% p.a. balance transfer offer. When you transfer your existing balance to this card, you will receive 0% p.a. for 12 months with 3% balance transfer fee to help alleviate your existing debt. Offer ends on 28 February 2018.
- Balance transfer fee refund. New Virgin Money customers who apply before 28 February 2018 and spend at least $2,000 on eligible purchases within the first 3 months will receive the 3% balance transfer fee refund.
- Access to Visa payWave. You have access to Visa payWave which allows you to simply tap your purchases when using EFTPOS machines. The transaction needs to be for less than $100 to tap and pay.
- 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
- Balance transfers. The Virgin No Annual Fee Card offers you a balance transfer rate of 0% p.a. for a period of 12 months. 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.
- Fees. For cash advances less than $100, it will cost $2.70 per transaction. On cash advances $100 and over, you will pay 0% of the transaction amount. For international cash advances, you will pay a maximum of $5 and a foreign currency exchange fee of 3.3% is charged on the amount.
- Up to 44 interest-free days. You get to enjoy up to 44 days of interest-free purchases when using the card.
- 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 have 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.
- 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 $6,000.
- 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.Back to top