In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews
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Virgin Money 12 Month All Round Credit Card review 2024

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Virgin Money 12 Month All Round Credit Card Mastercard
3.5
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Finder score
Representative example:
When you spend Β£1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
0% interest on balance transfers
12 months
0% interest on purchases
12 months
0% interest on money transfers
12 months

Our verdict

Enjoy 0% interest on purchases and balance transfers for 12 months with Virgin Money.
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Finder Awards 2024 winner
Customer Satisfaction Award

Offering fairly long 0% deals on balance transfers, money transfers and purchases at the same time, this is a solid credit card if you have different needs you’d like to combine. While not the top deal Virgin Money has to offer, it does give you quite a lot of extra time to both pay off your old debt and spread out the cost of future purchases.

On the downside, balance transfer and money transfer fees are very average. It’s all a matter of calculating how much time exactly you need to clear your debt, but you should be able to find a card with lower fees, especially if you can settle for a shorter deal.

Moreover, the revert rate is quite high, which means that you need to pay off your balance in full before the end of the 0% period to avoid costly interest.

Finally, this card earns you cashback at selected retailers if you register to the Virgin Money Back programme, which is a nice perk for a 0% credit card. At the time of writing, retailers included in the scheme include M&S, Apple, Boots and a bunch of other interesting brands. Just keep in mind that you need to shop through the Virgin Money Back website, or your purchases won’t count towards the cashback.

Pros

  • Customers report excellent customer service when dealing with Virgin Money
  • A year of 0% interest on balances transferred to focus on reducing your card debt
  • A year to spread the cost of purchases
  • A year of 0% interest on funds you transfer out from the card
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • Relatively high money transfer fee

In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

Details

Product Overview

Issuer Clydesdale Bank
Network Mastercard
Annual/monthly fees Β£0
Balance transfers 0% for 12 months reverting to 29.9%
Balance transfer fee 2.9% for 2 months reverting to 5%
Purchases 0% for 12 months reverting to 29.9%
Purchases interest-free period Up to 50 days
Money transfers 0% for 12 months reverting to 29.9%
Cash advances 29.9%
Minimum credit limit Β£0
Maximum credit limit Subject to status
Additional cards available 3
Additional Rewards Info Enjoy exclusive offers and rewards on the Virgin Red app. Use of the Virgin Money lounges. Customers choosing a Man Utd card design will benefit from the United Reward scheme where each month customers can win a range of prizes including: matchday tickets, signed replica t-shirts, hospitality tickets and other exciting prizes. Up to 10% off cottages.com. Extra discounts on selected BCP airport carparks. Β£25 cashback on Virgin Money annual multi-trip travel insurance. Β£25 cashback on Virgin Money International money transfer. Earn up to 15% cashback with Virgin Money Cashback at selected major retailers through the app (offers allocated automatically).
Potential costs 2.5 β˜…β˜…β˜…β˜…β˜…
Doing its job 3.5 β˜…β˜…β˜…β˜…β˜…
Extras 4.5 β˜…β˜…β˜…β˜…β˜…
Overall Finder score 3.5 β˜…β˜…β˜…β˜…β˜…

Fees and charges

Minimum monthly payment 1% or Β£25 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance.
Annual/monthly fees Β£0
Balance transfer fee 2.9% for 2 months reverting to 5%
Money transfer fee 4% for 12 months reverting to 5%
Foreign usage charge (EU) 2.99%
Foreign usage charge (rest of world) 2.99%
Cash advance fee 5% (min. Β£0)
Late payment fee Β£12
Replacement card fee Β£0
Exceeding limit fee Β£12
Additional card fee Β£0
Dormancy fee Β£0

Application Requirements

Minimum Age 18
Availability Available to new customers

The Virgin Money 12 Month All Round Credit Card is issued on the Mastercard network so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.

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How does it compare?

Virgin Money's card

1 - 1 of 1
Name Product Rating Finder score Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Virgin Money 12 Month All Round Credit Card Mastercard
Finder score
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Expert analysis
0% for 12 months
(2.9% fee)
0% for 12 months
(4% fee)
0% for 12 months reverting to 29.9%
Β£0
29.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend Β£1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
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26.9%
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0% for 19 months reverting to 24.9%
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Representative example: When you spend Β£1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
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0% for 19 months reverting to 24.9%
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Representative example: When you spend Β£1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
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0% for 20 months
(3.49% fee)
0% for 12 months
(4% fee)
0% for 20 months reverting to 23.94%
Β£0
23.9% APR (variable)
Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.
Representative example: When you spend Β£1,200 at a purchase rate of 23.94% (variable) p.a., your representative rate is 23.9% APR (variable).
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard
Finder score
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Expert analysis
0% for 19 months
(2.99% fee)
26.9%
(3% fee)
0% for 19 months reverting to 24.9%
Β£0
24.9% APR (variable)
Representative example: When you spend Β£1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
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Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

You can make manual repayments through Virgin Money's app by logging in to your online banking or over the phone (0800 389 2875). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (Β£12) or losing any promotional rates as a result. You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 12 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply

You can apply for this card online in around 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you will need to make the process as straightforward as possible. Don't forget to include the details of any other people you would like to be cardholders.

Frequently asked questions

Can I withdraw cash using the Virgin Money 12 Month All Round Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Virgin Money 12 Month All Round Credit Card is 5%.

The interest rate on this part of your balance will be 29.9% (chargeable from the day of the transaction – the card's usual "up to 50 days interest-free" grace period won't apply).

How much does it cost to use the Virgin Money 12 Month All Round Credit Card abroad?

Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (Β£171.29), it'll cost you around Β£5.12 in fees.

What is the minimum payment on the Virgin Money 12 Month All Round Credit Card?

Each month, you must pay at least 1% of your balance at that point or Β£25.00 – whichever of the 2 figures is greater. So if you had, say, Β£2,450.00 outstanding, you'd pay Β£25.00, and if you had Β£10,000.00 outstanding, you'd pay Β£100.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.

Finder credit card scores

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β˜…β˜…β˜…β˜…β˜… β€” Good
β˜…β˜…β˜…β˜…β˜… β€” Average
β˜…β˜…β˜…β˜…β˜… β€” Subpar
β˜…β˜…β˜…β˜…β˜… β€” Poor

Our experts score matched/balanced credit cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the introductory offer, balance transfer fees, any restrictions to the offer, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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