Virgin No Annual Fee Credit Card – Rates & Fees

Information verified correct on May 24th, 2016
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Enjoy a balance transfer offer for 18 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 for a period of 18 months (2% balance transfer fee applies). You also get an 18.99% p.a. purchase rate while enjoying up to 44 days of interest-free purchases. This offer also comes with $100 cashback on your card when you spend $2,000 or more in the first 3 months.

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.)0% p.a. for 18 months with 2% 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 date5 June 2016
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont 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.
$6,000
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.
$30,000
Minimum Monthly Repayment2%
Minimum Income$25,000
Card TypeVisa
Late Payment Fee$10
Foreign Currency Conversion Fee (VISA)3.3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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.
$6,000
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.
$30,000
Annual Fee$0 p.a.
Minimum Repayment2%
Late Payment Fee$10
Over Limit Fee$40
Cash Advance Fee$2.70
Overseas Cash Advance Fee$5.00 per transaction
Foreign Currency Conversion Fee (VISA)3.3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingNo
Internet Banking TransfersNo
In BranchNo
MailYes
Pros
  • $100 cashback when you spend $2,000 within the first 3 months
  • Competitive rate of 0% p.a. for 18 months on balance transfers
  • This card has $0 annual fee, ever.
Cons
  • A 2% p.a. 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  balance transfer offer, interest-free days and  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

  • balance transfer offer. When you transfer your existing balance to this card you will receive 0% p.a. for 18 months with 2% balance transfer fee to help alleviate your existing debt.
  •  annual fee for the life of the card. Pay no annual fee for life with the Virgin No Annual Fee Card.
  • $100 cashback offer. Get $100 cashback when you spend $2,000 or more on retail purchases in the first 3 months.
  • 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 for a period of 18 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 2.7% of the transaction amount. For international cash advances, you will pay a maximum of $5.00 per transaction $2,000 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.
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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 $6,000.

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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280 Responses to Virgin No Annual Fee Credit Card – Rates & Fees

  1. Default Gravatar
    Stephen | May 4, 2016

    Is there a charge for cash advances for this card if I have a credit balance? Example, my account is in credit by $100. I get a cash advance of $50. (IE- I’m using my money, not the bank’s). Is there a cash advance charge in this case? Secondly, does this card allow transactions to sports betting sites?

    • Staff
      May | May 4, 2016

      Hi Stephen,

      Thanks for your inquiry.

      In the Virgin Money Credit Card T&Cs, it states that Virgin Money will apply payments/fees to cash advances made on your card. So, even if your account is in credit balance, there may still fees that will be charged to your account when you make withdrawals or any form of cash advance.

      Also, Virgin Money does not allow any transaction on your card for the purpose of gambling or in connection with unlawful activities.

      For your reference, I’ve mailed you the Virgin Money Credit Card T&Cs.

      I hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    Tony | April 30, 2016

    Hi
    2% interest fee.. what does that mean?
    Can you give an example of how that works?

    • Staff
      Anndy | May 3, 2016

      Hi Tony,

      Thanks for your comment.

      If you are referring to the 2% balance transfer fee of Virgin No Annual Fee Credit Card, it is a one-time payment that is computed based on the amount you transferred. Taking this into consideration, if you will transfer a balance of $1,000, your balance transfer fee will be approximately $20.

      I hope this answers your question.

      Cheers,
      Anndy

  3. Default Gravatar
    Bil | April 24, 2016

    I have been looking at applying to Virgin using their online application for a credit card and to bring across accounts from other providers. Every bank, credit card and credit union seems to be listed except citibank. Is there something about citibank that makes it different or are Virgin and Citibank the same institution?

    • Staff
      Anndy | April 24, 2016

      Hi Bil,

      Thanks for your question.

      Citibank is the credit provider and issuer of Virgin Money Credit Cards. It is generally not allowed to make a balance transfer from a Citibank credit card to a Virgin balance transfer card since they belong in the same institution.

      I hope this answers your question.

      Cheers,
      Anndy

  4. Default Gravatar
    | April 19, 2016

    Can I balance transfer $5515 which is under $6000?

    • Staff
      May | April 19, 2016

      Hi Di,

      Thanks for your inquiry.

      Provided that your card application is approved, yes, you can conduct a balance transfer. Please note that you can transfer your old balance up to 80% of the available credit limit of the Virgin No Annual Fee Credit Card.

      Hope this helps.

      Cheers,
      May

  5. Default Gravatar
    John | April 18, 2016

    Since Citibank is the credit issuer of Virgin Money credit cards, is it possible to perform a balance transfer to another Citibank credit card? Who will be doing the assessment for credit limit: Virgin or Citibank?

    • Staff
      May | April 18, 2016

      Hi John,

      Thanks for your inquiry.

      Unfortunately, you may not transfer a balance between any card offered or underwritten by the same institution. Therefore, it is not possible to conduct a balance transfer from Virgin Money to a Citibank credit card. Please feel free to visit this page where you can find more information and guide about which banks/institutions allow a balance transfer from other issuers.

      Hope this helps.

      Cheers,
      May

  6. Default Gravatar
    Tony | March 3, 2016

    Part 3 of application (finances)
    It asks for account name of the credit card from with balance is being transferred. I tried putting my name in but it won’t allow enough characters. What actually goes in here if not my name

    • Staff
      Jonathan | March 4, 2016

      Hi Tony, thanks for your inquiry!

      The first name is substantial to complete this field.

      Cheers,

      Jonathan

  7. Default Gravatar
    Steve | February 2, 2016

    After filling out the application at the review page it makes reference to citibank – is Citibank the credit provider for the Virgin credit card

    • Staff
      Debbie | February 3, 2016

      Hi Steve,

      Thank you for your inquiry.

      Citibank is one of Virgin Money’s partner for their banking products as of September 2009. Please refer to this page for your reference.

      I hope this helps.

      Cheers,
      Debbie

    • Staff
      Sally | February 3, 2016

      Hi Steve,

      Yes, Citibank is the credit issuer of Virgin Money credit cards.

      I hope this has helped.

      Cheers,

      Sally

  8. Default Gravatar
    Vanessa | January 12, 2016

    I’ve tried applying for this Virgin No Annual Fee Credit Card however the GE Money GEM Visa Card biller code of 0000154799 is not listed. Is there a credit card company that will accept balance transfers from there?

    • Staff
      Sally | January 12, 2016

      Hi Vanessa,

      Thanks for your question.

      You shouldn’t have an issue transferring funds from a GE Money account to a Virgin No Annual fee card based on the issuers alone. As Virgin credit cards are provided by Citi, you should be able to transfer funds to a GE Money account though you couldn’t transfer them to another Citi credit card. You can see which card issuers you can transfer between here.

      If you’re still having trouble, you might like to contact Virgin Money on 13 37 39 to resolve the issue.

      I hope this has helped.

      Cheers,

      Sally

  9. Default Gravatar
    Ray | January 10, 2016

    If I pass the application process, can I transfer two separate credit card balances totalling $10,000 which are in my sons name – to my name to relieve him of the debt?

    • Staff
      Sally | January 11, 2016

      Hi Ray,

      Thanks for your question.

      Generally, you can only balance transfer an account that’s in your name or in a joint account with your name. You may need to contact Virgin directly on 13 37 39 to confirm your options.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    Martin | January 6, 2016

    Does Virgin have reward points?

    • Staff
      Sally | January 7, 2016

      Hi Martin,

      Yes, Virgin do offer a frequent flyer rewards program called the Velocity Frequent Flyer program.

      Unfortunately, the Virgin No Annual Fee credit card doesn’t allow cardholders to earn Velocity points on purchases.

      If you’re looking to earn rewards with Velocity, you can compare other Velocity credit cards here.

      I hope this has helped.

      Cheers,

      Sally

Credit Cards Comparison

Rates last updated May 24th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 0.99% p.a. for 4 months with a low annual fee.
0.99% p.a. for 4 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Frequent Flyer Black
Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.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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