Virgin Money Travel Credit Card review
- 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).
- Foreign transaction charge
- 0%
- 0% interest on money transfers
- 9 months
- Account fee
- £0
Our verdict
Pay no annual or foreign transaction fees, and get 0% interest periods on both purchases and balance transfer with this versatile card.
If you're planning a trip abroad sometime soon, Virgin Money has designed this card to cater to most of your financial needs... Want a card that won't penalise you with fees if you use it in another country? Check. Want to spread the cost of your holiday without it costing more? Check. Hoping to blag a discount on your travel insurance? You're in luck.
Plus, if you already have an outstanding balance on another card, that needn't stop you taking the plunge. You'll be able to take advantage of the 9-month 0% introductory period on balance transfers too.
So what's not to like? Honestly? Not a lot. You don't want to use this card to withdraw cash at home or abroad – you'll pay a fairly eye-watering 3% handling fee every time you do, and that part of your balance will be charged interest at a higher rate – 29.9%, to be precise. That's fairly standard stuff for credit cards.
Just remember to refuse dynamic currency conversion when you use this card. In other words if your charming waiter offers to bill you in your home currency, tell them to jog on. Nicely though.
Pros
- Customers report excellent customer service when dealing with Virgin Money
- Avoid currency conversion charges when spending abroad
- No annual fee
Cons
- Relatively high money transfer fee
Details
Product Overview
| Issuer | Clydesdale Bank |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 9 months reverting to 24.9% |
| Balance transfer fee | 2% for 2 months reverting to 5% |
| Purchases | 0% for 9 months reverting to 24.9% |
| Purchases interest-free period | Up to 50 days |
| Money transfers | 0% for 9 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 | 4.4 ★★★★★ |
| Doing its job | 4.8 ★★★★★ |
| Extras | 3.3 ★★★★★ |
| Overall Finder Score | 4.5 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £25 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 2% for 2 months reverting to 5% |
| Money transfer fee | 4% for 9 months reverting to 5% |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 3% (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 Travel 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
Other popular cards for overseas spending
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 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 Travel 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.
Frequently asked questions
Can I withdraw cash using the Virgin Money Travel 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 Travel Credit Card is 3%.
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).
What is the minimum payment on the Virgin Money Travel Credit Card?
Each month, you must pay at least 1% of your balance at that point or £25.00 – whichever of the 2 figures is greater. So if you had, say, £2,450.00 outstanding, you'd pay £25.00, and if you had £10,000.00 outstanding, you'd pay £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
Our experts score travel credit cards to determine their value against similar products on the market. We look at a number of important factors, like the cost for non-sterling transactions, any caveats or restrictions related to using your card overseas, travel-related perks/benefits, 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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