Virgin Money 12 Month All Round Credit Card Mastercard review 2020

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Enjoy 0% interest on purchases and balance transfers for 12 months with Virgin Money.

You say: ★★★★★We say: ★★★★★

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).

12 months

0% interest on balance transfers

27.9%

Representative APR

12 months

0% interest on purchases

12 months

0% interest on money transfers

Details

IssuerClydesdale Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 12 months reverting to 27.9%
Balance transfer fee2.9% for 2 months reverting to 5%
Purchases0% for 12 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
IncentiveEnjoy exclusive offers and rewards on the Virgin Red app.

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

Offering fairly long 0% deals on balance transfers, money transfers and purchases at the same time, this is a solid credit card if you have different needs you’d like to combine. While not the top deal Virgin Money has to offer, it does give you quite a lot of extra time to both pay off your old debt and spread out the cost of future purchases.

On the downside, balance transfer and money transfer fees are very average. It’s all a matter of calculating how much time exactly you need to clear your debt, but you should be able to find a card with lower fees, especially if you can settle for a shorter deal.

Moreover, the revert rate is quite high, which means that you need to pay off your balance in full before the end of the 0% period to avoid costly interest.

Finally, this card earns you cashback at selected retailers if you register to the Virgin Money Back programme, which is a nice perk for a 0% credit card. At the time of writing, retailers included in the scheme include M&S, Apple, Boots and a bunch of other interesting brands. Just keep in mind that you need to shop through the Virgin Money Back website, or your purchases won’t count towards the cashback.

The Virgin Money 12 Month All Round Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.

Pros and cons

Pros

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

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • Relatively high money transfer fee

How does it compare?

Virgin Money's card

Data indicated here is updated daily
Name Product Balance transfers Money transfers Purchases Annual/monthly fees Rep. APR Link Incentive Representative example
Virgin Money 12 Month All Round Credit Card Mastercard
0% for 12 months
(2.9% fee)
0% for 12 months
(4% fee)
0% for 12 months reverting to 27.9%
£0
27.9% (variable)
More Info
Enjoy exclusive offers and rewards on the Virgin Red app.
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).
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Other popular matched 0% deals

Table: sorted by length of 0% offer.
Data indicated here is updated daily
Name Product Balance transfers Money transfers Purchases Annual/monthly fees Rep. APR Link Incentive Representative example
HSBC Purchase Plus Credit Card Visa
0% for 18 months
(2.9% fee)
N/A
0% for 18 months reverting to 22.9%
£0
22.9% (variable)
Check eligibility
More Info
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 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
Santander All in One Credit Card
0% for 26 months
(0% fee)
N/A
0% for 26 months reverting to 15.9%
£3 per month
21.7% (variable)
More Info
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).
TSB Platinum Purchase Card
0% for 20 months
(2.95% fee)
N/A
0% for 20 months reverting to 19.95%
£0
19.9% (variable)
More Info
Representative example: When you spend £1,200 at a rate of 19.95% (variable) per annum, your representative APR is 19.9% APR (variable).
Sainsbury's Bank Dual Offer Credit Card Mastercard
0% for 20 months
(3% fee)
25.95%
(4% fee)
0% for 20 months reverting to 21.95%
£0
21.9% (variable)
More Info
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 3 Nectar points per £1 spent in Sainsbury's and Argos. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 21.95% (variable) p.a., your representative rate is 21.9% APR (variable).
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Approval for any credit card will depend on your status. The APR shown represents 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.

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 (£9) or losing any promotional rates as a result. 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 12 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

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.

Frequently asked questions

Can I withdraw cash using the Virgin Money 12 Month All Round Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Virgin Money 12 Month All Round Credit Card is 5%.

The interest rate on this part of your balance will be 27.9%, which is the same as the standard purchases 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 12 Month All Round Credit Card?

Each month you must pay at least 1% of your balance at that point or £25.00 – whichever of the two 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.

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