Virgin Money 29 Month Balance Transfer Credit Card review

Last updated:  

This card is no longer available, but you can use this page to compare alternatives.

As of May 2020, this card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to browse the range of credit cards currently available from Virgin Money and to compare similar cards from other issuers.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).

29 months

0% interest on balance transfers


Representative APR

20 months

0% interest on money transfers


Account fee


IssuerClydesdale Bank
Annual/monthly fees£0
Balance transfers0% for 29 months reverting to 21.9%
Balance transfer fee3% for 2 months reverting to 5%
Purchases0% for 3 months reverting to 21.9%
Purchases interest-free periodUp to 50 days
Money transfers0% for 20 months reverting to 23.9%
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 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

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 – making it the bank’s longest 0% deal.

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, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.

The Virgin Money 29 Month Balance Transfer 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


  • Customers report excellent customer service when dealing with Virgin Money
  • Over two years of 0% interest to focus on reducing existing card debt
  • Three months to spread the cost of purchases
  • Over a year of 0% interest on funds you transfer out from the card
  • No annual fee


  • Minimum annual income requirement of £7,000
  • Applicants with low credit scores are unlikely to be eligible
  • Don't forget that balance transfer fee! If cutting the interest on existing card debt is your main reason for considering this card, check out no-fee deals first
  • Relatively high money transfer fee

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 losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £9). 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.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

Our verdict

It’s Virgin Money’s longest running 0% deal so if you are hoping to clear your credit card debt quickly, you may want to explore the 29 month balance transfer credit card.

There are 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.

How to apply

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.

Frequently asked questions

Can I withdraw cash using the Virgin Money 29 Month Balance Transfer 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 29 Month Balance Transfer Credit Card is 5%.

The interest rate on this part of your balance will be 27.9%, which is 27% more than 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 should I do with my old credit card after transferring the balance to the Virgin Money 29 Month Balance Transfer Credit Card?

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.

How much does it cost to use the Virgin Money 29 Month Balance Transfer Credit Card abroad?

Non-sterling transactions are subject to a 2.99% charge. For example, if you spend 200 euros (£179.15), it'll cost you around £5.36.

What is the minimum payment on the Virgin Money 29 Month Balance Transfer 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 makes it much harder to get debt-free before that introductory 0% period expires.

Can I transfer money from the Virgin Money 29 Month Balance Transfer Credit Card to a bank account?

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 20 months. The fee for a money transfer is 4% for 20 months reverting to 5% (for transfers made in the first 20 months).

Finder credit card ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

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.

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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