Virgin No Annual Fee Credit Card – Rates and Fees

Information verified correct on August 27th, 2016
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Enjoy a 0% p.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 0% p.a. 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 date30 September 2016
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.
$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 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% p.a. 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.
  • $0 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 0% p.a. 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.

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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308 Responses to Virgin No Annual Fee Credit Card – Rates and Fees

  1. Default Gravatar
    Poke | August 9, 2016

    Hi I think I may have been declined for a credit card many years ago (more than 7). Does this mean I am not eligible for this credit card?

    • Staff
      May | August 9, 2016

      Hi Poke,

      Thanks for your question.

      Any credit card application will remain on your credit file for 5 years. So if your application was rejected 7 years ago, that record may have been deleted from your file already. To be sure, you can request a free online credit report.

      For the Virgin No Annual Fee Credit Card, the bank would require that your current credit file record does not contain a record of being declined for a credit 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.

      I hope this is helpful.

      Cheers,
      May

  2. Default Gravatar
    | July 19, 2016

    Hi,

    I am an existing citibank credit card holder and want to apply the no fee credit card from Virgin. Will I still get the promotional interest rate for the balance transfer (0% for 18 months) in this case as they are from the same family? The balance needed to be transferred will be from another credit card provider other than citibank. Thanks.

    • Staff
      May | July 21, 2016

      Hi Victor,

      Thanks for your question.

      Yes, you will be eligible for the 0% p.a. interest on balance transfer for 18 months offer even if you’re a Citibank cardholder so long that you meet the eligibility criteria to be approved for this card and that the balance you’re transferring will not come from a credit card underwritten by Citibank and Virgin Money.

      Cheers,
      May

  3. Default Gravatar
    John | July 19, 2016

    Can I transfer the balance from another credit card (which is not in my name) to this credit card?

    I wish to transfer my parents credit card balance to mine.

    • Staff
      Anndy | July 19, 2016

      Hi John,

      Thanks for your question.

      Unfortunately, Virgin Money does not allow balance transfers between two people’s names. If you are looking for a credit card that allows you to move another person’s debt or a joint debt to your own credit card, you can check your options here.

      Cheers,
      Anndy

  4. Default Gravatar
    Coby | July 18, 2016

    I have an existing credit card with Virgin that was opened with a balance transfer.

    This amount has almost been paid off in full however I have a credit card elsewhere that I would like to setup on a balance transfer rate.

    Is there anything that can be done here I will need to go elsewhere to obtain a 0% balance transfer?

    • Staff
      Anndy | July 18, 2016

      Hi Coby,

      Thanks for your comment.

      While you can still apply for a balance transfer with Virgin No Annual Fee Credit Card as an existing customer (by calling 13 37 19), the balance transfer interest rate applies only to balances transferred with the special offer at point of new card application.

      If you are looking for a balance transfer credit card with 0% balance transfer rate for up to 18 months, you can compare your options here.

      Cheers,
      Anndy

  5. Default Gravatar
    Ken | July 12, 2016

    Hi
    Can I transfer the balance from two separate credit cards onto one card?

  6. Default Gravatar
    Savannah | July 8, 2016

    Hi there, will making purchases on this credit card before paying off the balance transfer amount affect the 18months 0% interest or are new purchases kept separate to the balance transfer amount? Thank you.

    • Staff
      May | July 8, 2016

      Hi Savannah,

      Thanks for your question.

      The purchases you make using your Virgin No Annual Fee Credit Card will not actually affect the current 0% interest on BT. It means you can still enjoy the promo rate offer up to 18 months. However, please keep in mind that whilst you have 0% interest BT offer on the card, you won’t be able to take advantage of the 44 interest-free days on purchases of your Virgin No Annual Fee Credit Card.

      Usually, each purchase made on a standard balance transfer credit card, the purchase rate of interest (of 18.99% p.a. for this Virgin No Annual Fee Credit Card) accrues on each purchase from the day of the transaction until the purchase is fully repaid including the interest component.

      So, if you really want to pay down and get out of your debt, it’s best not to use or minimise using your card on purchases while on BT.

      I hope this has helped.

      Cheers,
      May

  7. Default Gravatar
    stephen | July 6, 2016

    Hi I have a QUDOS (QANTAS credit union) unsecured personal overdraft for $12.5k. Would I be able to balance transfer this type of facility to a virgin no annual fee credit card? thanks

    • Staff
      May | July 7, 2016

      Hi Stephen,

      Thanks for your question.

      As Virgin Money accepts a balance transfer from personal loans, so yes, you’re able to conduct a BT with Virgin No Annual Fee credit card so long you meet the eligibility criteria and requirements of the card. Please also note that with this card, you’re able to transfer a total amount that is not more than 80% of the available/approved credit limit.

      Aside from Virgin Money, Citibank also gives you the ability to transfer your personal loans to a credit card. You can also find more information about transferring your personal loans to a credit card here.

      I hope this is helpful.

      Cheers,
      May

  8. Default Gravatar
    Robert | June 30, 2016

    What is the time limit for balance transfer and how many times the balance can be transferred.

    • Staff
      May | July 1, 2016

      Hi Robert,

      Thanks for your question.

      The minimum amount you can transfer over to your Virgin Money Credit Card is $500 and your total balance transfer may not exceed 80% of your maximum available credit limit the day the balance transfer is completed. The balance can be transferred only once.

      Cheers,
      May

  9. Default Gravatar
    Lisa | June 24, 2016

    Do I have to transfer a minimum of $6000 to get 0% interest for 18months? …my balance will be $4000

    • Staff
      Anndy | June 24, 2016

      Hi Lisa,

      Thanks for your question.

      No, you don’t have to transfer $6,000 to get the balance transfer offer for Virgin No Annual Fee Credit Card.

      The $6,000 minimum credit limit represents the lowest credit limit that you can request for this card. Moreover, it allows you to transfer up to 80% of your available credit limit, so if you’re approved for $6,000, you should be able to transfer your $4,000 balance.

      Cheers,
      Anndy

  10. Default Gravatar
    David | June 23, 2016

    How does one check your balance on the card ? CAn it be done online somewhere?

    • Staff
      Anndy | June 23, 2016

      Hi David,

      Thanks for your question.

      To check your balance on a Virgin credit card, you have to first register for Virgin Money Credit Card Online Banking. I’ve sent you an email with a link where you can register. Please note that you need to have your PIN number to set-up this service. Once registered, you can log-in anytime to check the balance on your credit card or view an online statement.

      I hope this helps.

      Cheers,
      Anndy

Credit Cards Comparison

Rates last updated August 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
9.99% p.a. $0 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 p.a. thereafter) 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. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. 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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