Virgin Money Everyday Cashback review
- Representative example:
- Representative 24.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 24.9% p.a. (variable).
- Earn rate
- 1p per £4 spent
- Foreign transaction charge
- 0%
- Account fee
- £0
Our verdict
Earn 0.5% cashback on your purchases with Virgin Money's Everyday Cashback credit card, plus enjoy no annual fees.
The Virgin Money Everyday Cashback Credit Card could be a good option if you’re after a cashback credit card that has no annual or monthly fee.
You earn 0% cashback on every £1 you spend with this card, up to a maximum of £15 per month.
There are other credit cards on the market with higher ongoing cashback rates, but those cards tend to come with an annual fee, or the monthly cashback is capped at around £15 anyway.
With this Virgin Money card, you could also earn an extra 15% cashback when you shop at selected retailers. You’ll need to register using the Virgin Money credit card app to see all those offers, and the £15 monthly cashback cap still applies.
A nice perk with this card is that you can also earn cashback on purchases you make abroad, and you won’t pay any foreign exchange fees on your overseas spending.
Once you’ve earned yourself some cashback you have the option to transfer it into your current account, pay it to your Virgin Money Credit Card to reduce your balance, or trade it for an e-gift card to use at participating retailers.
You can have additional cardholders with the Virgin Money Everyday Cashback Credit Card, and their purchases will also earn cashback. However, the £15 monthly cashback cap covers all cardholders within the same card account (so you don’t each get a £15 allowance), plus the cashback total will go to the main cardholder at the end of the month.
Pros
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Earn up to £15 per month cashback
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Get cashback on overseas spending
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No foreign exchange fees on purchases made abroad
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Can have additional cardholders
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No annual card fee
Cons
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Higher cashback rates are available with some other cards (though they tend to have an annual fee)
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You’ll need to register in the app to see the extra cashback offers
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You don’t get an additional £15 cashback allowance if you have an additional cardholder
Details
Product Overview
| Issuer | Clydesdale Bank PLC |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 24.9% |
| Purchases | 24.9% |
| Purchases interest-free period | Up to 50 days |
| Money transfers | 24.9 |
| 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). |
| Cashback details | 1% after £1 of monthly spend for introductory period of 3 months. 0.25% on £1 to £6000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Bank Account. Earn up to 15% cashback on participating Retailers, registration via mobile app required. |
| Potential costs | 9.2Excellent |
| Extras | 6.6Standard |
| Overall Finder Score | 7.5Great |
Fees and charges
| Minimum monthly payment | Greater of: 2% of the underlying balance plus the month's interest and any applicable fees and charges; £25; or the outstanding balance. |
| Annual/monthly fees | £0 |
| Money transfer fee | 5 |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 5 |
| Late payment fee | 12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £4 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £7,000 |
| Availability | Available to new customers |
The Virgin Money Everyday Cashback 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
Other popular cashback deals
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 Defaqto.
Virgin Money Everyday Cashback Credit Card features
- Cashback. Get 0% cashback on all purchases, plus an additional 15% at select retailers, and earn up to £15 in cashback each month.
- Add additional cardholders. You have the option to add additional cardholders, allowing family members or trusted friends to benefit from the same account and manage expenses collectively.
- No FX fees. Enjoy no foreign exchange fees on overseas spending, allowing you to make purchases abroad without extra charges and get the most out of your travel budget.
- Mastercard. This credit card is a Mastercard, which is accepted in more than 100 million places worldwide
- Manage your account via an app. Easily manage your credit card account with the Virgin Money Credit Card app.
"The Virgin Money Everyday Cashback Credit Card offers a decent ongoing cashback rate for a card with no annual fee. You can earn up to a maximum of £15 per month in cashback, so it’s worth checking out the extra 15% cashback offers via the Virgin Money Credit Card app."
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 (12) or losing any promotional rates as a result.
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 Everyday Cashback, 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.
Frequently asked questions
Can I withdraw cash using the Virgin Money Everyday Cashback?
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 Everyday Cashback is 5%. For example, if you withdraw £150, you'll incur a rather painful fee of £7.50.
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 Everyday Cashback abroad?
Non-sterling transactions don't incur a currency conversion fee (they're converted at "interbank" rates).
Can I request an additional Virgin Money Everyday Cashback?
Yes, in fact, you can request up to 3 more. There's no fee for additional cards. Plus, with additional cards, you could be able to earn cashback at a faster rate. Bear in mind that card debt accrued by additional cardholders is the sole responsibility of the account holder – not the additional cardholder.
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