On website
Virgin Money Low Rate Credit Card
Balance transfer
15 months at 0% p.a.
Purchase rate
12.99% p.a. ongoing
Annual fee
$99.00 p.a. ongoing
Highlights
- 0% p.a. for 15 months on balance transfers with no balance transfer fee. Reverts to the cash advance rate at 21.69% p.a.
- Low ongoing purchase rate of 12.99% p.a.
- Up to 55 days interest-free on purchases.
Pros and cons
Pros
Cons
About this credit card
Basics
Card usage
Eligibility
Additional cardholders
Credit limits
Repayments
Balance transfers
Balance transfer offer
Balance transfer conditions
Rates, fees, charges
Cash advances
Purchases
Account fees
Rewards
Rewards program basics
Rewards points per $1 spent
Additional perks
Insurance
Travel and lifestyle
Our review
Convenience
Customer service
Rates and fees
Rewards
Trust
The basics
- Additional cardholders. This card allows up to 4 additional cardholders for free, but there is an initial fee of $29 p.a. per additional cardholder.
- Digital wallets. Compatible with Apple Pay and Samsung Pay.
- Gambling transactions. Gambling-related transactions are not allowed on this card.
Rewards and benefits
- Complimentary travel insurance. Being Virgin Money's "no-frills" card, the Virgin Money Low Rate Credit Card does not provide complimentary international travel insurance.
- Concierge services. Want a credit card with a concierge service? This one won't tick that box.
- Insurances. This card comes with fraud protection but does not include domestic hotel burglary insurance, extended warranty insurance, international travel insurance, price protection insurance, purchase protection insurance, or transport accident insurance.
- Rewards points. This credit card does not have a rewards program.
- Sign-up bonus. There is no sign-up bonus for this card at this time.
Rates and fees
- Annual fee. This card has an ongoing annual fee of $99 p.a. This is reasonably high for a low rate card.
- Balance transfers. The Virgin Money Low Rate Credit Card offers a 0% p.a. balance transfer rate for 15 months, with no balance transfer fee. After the promotional period, the revert rate is 21.69%. Balance transfers from personal loans are accepted. Overall, it's a solid balance transfer offer.
- Cash advances. If you make a cash advance using this card, or another transaction is classed as one, you will be charged interest at 21.69% p.a., which will apply immediately. A one-off fee will be charged on top of the interest rate.
- Foreign exchange fee. A 3.3% fee is charged for any purchases made in a foreign currency, either online or outside Australia.
- Interest-free period. Offers up to 55 days interest-free on purchases (except cash advances) when you pay your account balance in full by the due date or make the required minimum repayment.
- Purchases. Purchases will be charged interest at the low ongoing rate of 12.99% p.a. Although there are cards with lower ongoing purchase rates, this is competitive.
Reviewed by Credit Card Compare Staff
History
User reviews
Convenience
Customer service
Rates and fees
Rewards
Trust
Generally very pleased with this card
Reviewed by Sueev
Points and flight voucher help with family visits
Reviewed by Kristal
Good service and sign-up incentives
Reviewed by Alison
Customer service very patient
Reviewed by Alexandra
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