If you're looking to clear credit card debt faster (and more cheaply) this deal lets you transfer your balance to Virgin Money and enjoy 0% interest on it for 29 months.
Crucially, there's a balance transfer fee of to consider. If you don't need the full 29 months to clear your debt, then you should first consider offers with no balance transfer fee – which tend to come with slightly shorter interest-free periods. Not sure how long you need? Just divide your balance by the number of months at 0% (in this case 29) to see how much you'd need to pay off each month to be debt-free before the "revert rate" kicks in.
Try to avoid any additional spending on the card until you've cleared your debt. But if you do opt to use the card for purchases, you can register to earn cashback when you spend at over 500 well-known brands.
As with all Virgin Money cards, you can choose your favourite from a small selection of card designs. If you're a Manchester United fan, you may be delighted to learn you can even opt for a card emblazoned with the club's crest – Virgin Money is the official UK financial services partner of the football club (yes, that's a thing apparently).
Finally, as this card is on the Mastercard network, you'll also be able to enjoy access to Priceless Cities experiences.
Here's everything you need to know about the Virgin Money 29 Month Balance Transfer Credit Card Mastercard – from rates and fees through to eligibility criteria. And if you're not sure if it's the right card for you, you can compare similar cards from other providers.
| Issuer | Clydesdale Bank |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 29 months reverting to 24.9% |
| Balance transfer fee | 3.45% 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 |
| 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 | 3.7 ★★★★★ |
| Doing its job | 4.2 ★★★★★ |
| Extras | 4.0 ★★★★★ |
| Overall Finder Score | 4.0 ★★★★★ |
| 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 | 3.45% 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 |
| Minimum Age | 18 |
| Availability | Available to new customers |
The Virgin Money 29 Month 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.
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.
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 29 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.
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
As Virgin Money’s longest-running 0% deal for balance transfers, the Virgin Money 27 Month Balance Transfer Credit Card Mastercard could be a good option if you wanted to clear your credit card debt over a longer period. However, it’s good to take into account that there are longer balance transfer offers on the market. You might want to consider a card that doesn’t charge a balance transfer fee if you can clear your existing balance quicker than the 27 months this card has to offer.
Overall, it’s a good balance transfer option. But as always, there are several of these balance transfer deals on the market so remember to compare your options above to find a deal that’s just right for you.
If you've compared cards and settled on the Virgin Money 29 Month 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.
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 29 Month 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).
Transferring a balance doesn't automatically close your old account. In most cases, you'll want to close the old account(s) straightaway, especially if they have an annual/monthly fee or if you might be tempted to use them in the future. There is an argument that you should keep the old account open to help your credit score. That's because doing so keeps your "credit utilisation ratio" lower (that's a measure of how much credit you're using compared to what's available to you) and helps the average age of your credit accounts. However, unless you're just about to apply for a new mortgage, it's probably fair to say that most people would prefer to have no more bank accounts open than was truly necessary.
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£166.61), it'll cost you around £4.98 in fees.
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.
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).
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.
