In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application requirements
  • Your reviews
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Virgin Money 20 Month 2% Fee Balance Transfer Credit Card review

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Virgin Money 20 Month 2% Fee Balance Transfer Credit Card Mastercard
4.1
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
0% interest on balance transfers
20 months
0% interest on money transfers
12 months
Account fee
£0

Our verdict

Save money on existing card debt when you transfer it to Virgin Money.
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Customer Satisfaction Award

We chose this credit card as our top pick for balance transfers because it has the longest 0% deal we could find after scouring the market. If you're seeking to clear card debt faster by cutting out interest payments, this card lets you enjoy 0% interest for 20 months with a balance transfer fee of 2%. Because balance transfer fees are generally set at a percentage of the balance being transferred (typically around 3%), a lower transfer fee stands to benefit those with hefty levels of card debt most.

Don't forget that you'll need to transfer your balance within the specified window of 2 months in order to benefit from the waived fee. It's also important to remember that if you don't clear your balance in full within the 20-month 0% interest period, any outstanding balance will start to accrue interest at the card's standard rate of 24.9%.

This card also offers a 3-month-long 0% deal on purchases. It isn't a lot, but it can be helpful if you need to handle a forthcoming expense while paying back your debt. It gives you a bit of leeway and allows you to spread the cost over that period of time. The monthly minimum payment will be 2% or £25 (whichever is greater) or 2 times the month's interest plus 2 times default charges due.

As well as helping you with your existing debt, like all Barclaycards, this card comes with a number of handy extras including pre-sale tickets to selected live events through Barclaycard entertainment.

Pros

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

Cons

  • Relatively high money transfer fee
  • A punishing fee of 5% on cash withdrawals (you should avoid using a credit card to withdraw cash in any case)

In this guide

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

Details

Product Overview

Issuer Clydesdale Bank
Network Mastercard
Representative APR 24.9%
Annual/monthly fees £0
Balance transfers 0% for 20 months reverting to 24.9%
Balance transfer fee 2% for 2 months reverting to 5%
Purchases 0% for 3 months reverting to 24.9%
Purchases interest-free period Up to 50 days
Money transfers 0% for 12 months reverting to 26.9%
Cash advances 29.9%
Minimum credit limit £0
Maximum credit limit Subject to status
Additional cards available 3
Incentive
Enjoy exclusive offers and rewards on the Virgin Red app.
Additional Rewards Info Enjoy exclusive offers and rewards on the Virgin Red app. 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. Earn up to 15% cashback with Virgin Money Cashback at selected major retailers through the app (offers allocated automatically).
Potential costs 3.9 ★★★★★
Doing its job 4.3 ★★★★★
Extras 4.0 ★★★★★
Overall Finder Score 4.1 ★★★★★

Fees and charges

Minimum monthly payment 2% or £25 (whichever is greater) or 2 times the month's interest plus 2 times default charges due.
Annual/monthly fees £0
Balance transfer fee 2% 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. £0)
Late payment fee £12
Replacement card fee £0
Exceeding limit fee £12
Additional card fee £0
Dormancy fee £0

Application requirements

Minimum Age 18
Availability Available to new customers

The Virgin Money 20 Month 2% Fee Balance Transfer 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.

How does it compare?

Virgin Money's card

1 - 1 of 1
Name Product UKCCF Finder Score Finder score Balance transfers Balance transfer fee Purchases Annual/monthly fees Representative APR Incentive Link
Virgin Money 20 Month 2% Fee Balance Transfer Credit Card Mastercard
4.1
★★★★★
★★★★★
Expert analysis
0% for 20 months reverting to 24.9%
2% for 2 months reverting to 5%
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
loading

Other popular balance transfer deals

Table: sorted by length of 0% balance transfer offer, promoted deals first
1 - 20 of 48
Name Product UKCCF Finder Score Finder score Balance transfers Balance transfer fee Purchases Annual/monthly fees Representative APR Incentive Link
HSBC Balance Transfer Credit Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 29 months reverting to 24.9%
3.49% fee, min £5
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.
Check eligibility
M&S Bank Credit Card Transfer Plus Offer Mastercard
3.9
★★★★★
★★★★★
Expert analysis
0% for 27 months reverting to 24.9%
3.49%, min £5
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
Santander Everyday Long Term Balance Transfer Credit Card
4.3
★★★★★
★★★★★
Expert analysis
0% for 26 months reverting to 23.9%
3% (min. £5)
0% for 3 months reverting to 23.9%
£0
23.9% APR (variable)
Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).
Check eligibility
first direct Credit Card
3.8
★★★★★
★★★★★
Expert analysis
0% for 20 months reverting to 24.9%
2.99% (min. £5)
24.9%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
HSBC Purchase Plus Credit Card
3.8
★★★★★
★★★★★
Expert analysis
0% for 17 months reverting to 24.9%
3.49%, min £5
0% for 20 months reverting to 24.9%
£0
24.9% APR (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.
Check eligibility
Santander All in One Credit Card
4.4
★★★★★
★★★★★
Expert analysis
0% for 15 months reverting to 23.9%
0% for 15 months reverting to 3% (min. £5)
0% for 15 months reverting to 23.9%
£3 per month
29.8% APR (variable)
0.5% after £1 of monthly spend. Maximum of £10 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).
Check eligibility
Santander Everyday No Balance Transfer Fee Credit Card
3.5
★★★★★
★★★★★
Expert analysis
0% for 12 months reverting to 23.9%
0% for 12 months reverting to 3% (min. £5)
0% for 3 months reverting to 23.9%
£0
23.9% APR (variable)
Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).
Check eligibility
M&S Bank Credit Card Purchase Plus Offer Mastercard
4.1
★★★★★
★★★★★
Expert analysis
0% for 12 months reverting to 24.9%
3.49% (min. £5)
0% for 20 months reverting to 24.9%
£0
24.9% APR (variable)
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
Virgin Money 29 Month Balance Transfer Credit Card Mastercard
4.0
★★★★★
★★★★★
Expert analysis
0% for 29 months reverting to 24.9%
3.45% for 2 months reverting to 5%
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Barclaycard Platinum 28 Month Balance Transfer Visa
3.8
★★★★★
★★★★★
Expert analysis
0% for 28 months reverting to 24.9%
3.45%
24.9%
£0
24.9% APR (variable)
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive pre-sale tickets on selected festivals with 10% off ticket prices.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Tesco Bank Balance Transfer Card
4.1
★★★★★
★★★★★
Expert analysis
0% for 27 months reverting to 24.9%
2.95% for 27 months reverting to 3.99%
24.9%
£0
24.9% APR (variable)
1 points per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants or entertainment.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
MBNA Long 0% Balance Transfer Credit Card
3.9
★★★★★
★★★★★
Expert analysis
0% for 27 months reverting to 24.94%
3.49% for 2 months reverting to 5%
24.94%
£0
24.9% APR (variable)
Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.
Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).
Lloyds Bank Platinum 0% Balance Transfer Credit Card Mastercard
4.0
★★★★★
★★★★★
Expert analysis
0% for 27 months reverting to 24.94%
3.2% for 3 months reverting to 5%
0% for 6 months reverting to 24.94%
£0
24.9% APR (variable)
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit card.
Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).
Halifax Low Fee 0% Balance Transfer Credit Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 27 months reverting to 24.94%
3.49% for 3 months reverting to 5%
0% for 6 months reverting to 24.94%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).
The Co-operative Bank Balance Transfer Credit Card Visa
4.1
★★★★★
★★★★★
Expert analysis
0% for 24 months reverting to 20.6%
3% (minimum £5)
0% for 4 months reverting to 20.6%
£0
20.6% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 20.6% (variable) p.a., your representative rate is 20.6% APR (variable).
TSB Platinum Balance Transfer Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 24 months reverting to 22.95%
2.95% for 3 months reverting to 5%
0% for 3 months reverting to 22.95%
£0
22.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 22.95% (variable) p.a., your representative rate is 22.9% APR (variable).
Capital One Balance Transfer Mastercard
3.4
★★★★★
★★★★★
Expert analysis
0% for up to 24 months reverting to 34.94%
3%
0% for 3 months reverting to 34.94% (subject to eligibility)
£0
34.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).
Ulster Bank Longer Balance Transfer Credit Card
3.8
★★★★★
★★★★★
Expert analysis
0% for 23 months reverting to 24.9%
3.49%
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Royal Bank of Scotland Longer Balance Transfer Credit Card
3.7
★★★★★
★★★★★
Expert analysis
0% for 23 months reverting to 24.9%
3.49%
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
NatWest Longer Balance Transfer Credit Card
3.7
★★★★★
★★★★★
Expert analysis
0% for 23 months reverting to 24.9%
3.49%
0% for 3 months reverting to 24.9%
£0
24.9% APR (variable)
Representative example: When you spend £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. Most of the data in Finder's comparison tables is provided by Moneyfacts.

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 losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). 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 20 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

If you've compared cards and settled on the Virgin Money 20 Month 2% Fee Balance Transfer Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible. You can request a balance transfer as part of your application.

Frequently asked questions

Can I withdraw cash using the Virgin Money 20 Month 2% Fee Balance Transfer 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 20 Month 2% Fee Balance Transfer Credit Card is 5%.

The interest rate on this part of your balance will be 29.9%, which is 20% more than the standard purchase rate (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 20 Month 2% Fee Balance Transfer Credit Card abroad?

Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£167.98), it'll cost you around £5.02 in fees.

What is the minimum payment on the Virgin Money 20 Month 2% Fee Balance Transfer Credit Card?

Each month, you must pay at least 2% of your balance at that point or £25.00 – whichever of the 2 figures is greater. So if you had, say, £1,225.00 outstanding, you'd pay £25.00, and if you had £5,000.00 outstanding, you'd pay £100.00.

Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.

Can I transfer money from the Virgin Money 20 Month 2% Fee Balance Transfer Credit Card to a bank account?

Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using Virgin Money's app. New customers will pay no interest on this part of their card's outstanding balance for up to 12 months. The fee for a money transfer is 4% for 12 months reverting to 5% (for transfers made in the first 12 months).

Finder credit card scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score balance transfer cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the balance transfer offer, the balance transfer fee, any restrictions to making a transfer, 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.

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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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