Virgin Money 20 Month Balance Transfer Credit Card Mastercard review November 2019

Enjoy 0% interest for 20 months with Virgin Money.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 27.9% (variable) p.a., your representative rate is 27.9% APR (variable).

20 months

0% interest on balance transfers

27.9%

Representative APR

12 months

0% interest on money transfers

£0

Account fee

Details

IssuerVirgin Money
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 20 months reverting to 27.9%
Balance transfer fee2.8% for 2 months reverting to 5%
Purchases0% for 3 months reverting to 27.9%
Purchases interest-free periodUp to 50 days
Money transfers0% for 12 months reverting to 27.9%
Cash advances27.9%
Min. credit limit£0
Max credit limitNot specified
Additional cards available3
IncentiveEarn cashback when you shop online with over 500 top brands with Virgin Money Back.

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

This multipurpose card offers three different 0% deals: 20 months on balance transfers, 12 months on money transfers, 3 months on purchases. (Do you know the difference between money transfers and balance transfers? Luckily, we do.)

This certainly offers a good degree of flexibility. On the other hand, none of these deals is among the longest available on the market and there are quite a few fees to take into account. Transferring a balance will cost you a fee of 2.8% for 2 months reverting to 5%, while the money transfer fee is 4% for 12 months reverting to 5%. Finally, the revert rate for both purchases and balance transfers is 27.9%, which isn’t especially competitive.

All this makes the Virgin Money 20 Month Balance Transfer Credit Card Mastercard a pretty average 0% card.

The silver lining is that, if you pay off your bill in full every month, you’ll get up to 50 interest-free days every billing cycle and will also be able to take part into Virgin Money Back. This is a cashback programme that lets you earn cashback when you spend at selected retailers, which at the time of writing include big names such as M&S and Apple.

How does this card compare with similar products on the market?

Table: sorted by representative APR, promoted deals first
Updated November 14th, 2019
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
0% for 20 months reverting to 19.9%
£0
19.9% p.a. (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 6 months reverting to 19.9%
0% for 6 months reverting to 19.9%
£0
19.9% p.a. (variable)
Double points on spend in M&S for first 12 months (2 points per £1). Then earn 1 point for every £1 spent at Marks and Spencer's and 1 point or every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 27 months reverting to 19.9%
0% for 27 months reverting to 19.9%
£0
19.9% p.a. (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 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 26 months reverting to 20.93%
0% for 26 months reverting to 20.93%
£0
20.9% p.a. (variable)
Introductory 0% purchase offer only applies to purchases made within 60 days of opening.
Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 26 months reverting to 15.9%
0% for 26 months reverting to 15.9%
£3 per month
21.7% p.a. (variable)
0.5% after £1 of monthly spend. 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 15.9% (variable) p.a. with a fee of £3 per month, your representative rate is 21.7% APR (variable).
0% for 25 months reverting to 20.95%
0% for 25 months reverting to 20.95%
£0
20.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 24 months reverting to 19.9%
0% for 24 months reverting to 19.9%
£0
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 24 months reverting to 19.944%
0% for 3 months reverting to 21.814%
£0
19.9% p.a. (variable)
1 point 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, entertainment or Avios points.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a., your representative rate is 19.9% APR (variable).

Compare up to 4 providers

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0800 389 2875), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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 for the Virgin Money 20 Month Balance Transfer Credit Card Mastercard

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.

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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