Virgin Money 24 Month Balance Transfer Credit Card Mastercard review April 2019

Virgin Money 24 Month Balance Transfer Credit Card Mastercard
Virgin Money 24 Month Balance Transfer Credit Card Mastercard

Enjoy a lengthy 0% period and a competitive transfer fee with Virgin Money.

One of the big-hitters in the balance transfer game, Virgin Money offers a selection of balance transfer cards to accommodate card users with different monthly budgets and different levels of card debt.

Sadly, the longest 0% periods and the lowest transfer fees won’t usually be found together on the same card. With a large selection of balance transfer deals out there, by comparing what’s available it’s possible to calculate which card would work out least expensive for you.

This card comes with 24 months 0% interest on balances that you transfer across to the new card, but there’s a transfer fee of 2.8% for 2 months reverting to 5%.

If the 24 months gives you long enough to clear your debt, then this card could be a smart option (after that time, any outstanding balance will start to accrue interest at the card’s standard rate). But if you expect to clear the balance in even less time, then you might be able to bag yourself a deal with no balance transfer fee, which, depending on the size of your outstanding debt, could make for significant savings.

What’s a popular alternative to this card?

  • Balance transfers 0% for 28 months reverting to 19.9%
  • Purchases 0% for 6 months reverting to 19.9%
  • Balance transfer fee of 1.75% for transfers in first 60 days

Barclaycard Platinum 28 Month Balance Transfer Visa

  • Balance transfers 0% for 28 months reverting to 19.9%
  • Purchases 0% for 6 months reverting to 19.9%
  • 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. Save 5% on food and drink at all UK 02 Academy venues.

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).

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Key details

IssuerVirgin Money
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 24 months reverting to 23.9%
Balance transfer fee2.8% for 2 months reverting to 5%
Purchases0% for 3 months reverting to 23.9%
Purchases interest-free periodUp to 50 days
Money transfers0% for 18 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.
Annual/monthly fees£0
Balance transfer fee2.8% for 2 months reverting to 5%
Money transfer fee4% for 18 months reverting to 5%
Foreign usage charge (EU)2.99%
Foreign usage charge (rest of world)2.99%
Cash advance fee5% (min. £0)
Late payment fee£9
Exceeding limit fee£9
Additional card fee£0
Replacement card fee£0
Dormancy fee£0
Minimum Age18
Minimum income£7,000
AvailabilityAvailable to new customers
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).

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.

How does this card compare with other similar cards on the market?

Comparison ordered by representative APR with affiliated products shown first.
Updated April 21st, 2019
Name Product Balance transfers Balance transfer fee Purchases Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
19.9%
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 12 months reverting to 19.9%
3% (min. £3)
19.9%
19.9%
Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions and 10% on selected insurance products. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.
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 28 months reverting to 19.9%
1.75% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
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. Save 5% on food and drink at all UK 02 Academy venues.
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 20 months reverting to 19.9%
0% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
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%
2.7% for transfers in first 60 days
0% for 27 months reverting to 19.9%
19.9%
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 19.9%
1.5% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
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 12 months reverting to 15.9%
0% for 3 months reverting to 2.4% (min. £5)
0% for 12 months reverting to 15.9%
15.9%
Representative example: When you spend £1,200 at a purchase rate of 15.9% (variable) p.a., your representative rate is 15.9% APR (variable).
0% for 12 months reverting to 17.9%
0% for 3 months reverting to 2.4% (min. £5)
0% for 12 months reverting to 17.9%
17.9%
Customers will be able to earn commission-free purchases abroad by using their Credit Card each time they make a purchase in Sterling. The calculation will be based on a 5:1 ratio - for example, £5 spent in Sterling will earn an allowance of £1 commission free-purchases abroad. Purchases abroad beyond the earned amount will be charged 2% commission.
Representative example: When you spend £1,200 at a purchase rate of 17.9% (variable) p.a., your representative rate is 17.9% APR (variable).
0% for 20 months reverting to 18.9%
3% (min. £3)
0% for 3 months reverting to 18.9%
18.9%
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
0% for 18 months reverting to 18.9%
2.9% (min. £5)
0% for 9 months reverting to 18.9%
18.9%
Earn 1 point for every £1 spent in store or online at John Lewis, Waitrose and John Lewis Insurance. Earn 1 Point for every £2 spent elsewhere. Vouchers issued once customer reaches 500 points in Feb, Jun or Oct when vouchers are automatically issued to customers. Every 500 points is worth £5.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% 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 24 Month Balance Transfer Credit Card Mastercard

If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, use the eligibility checker tool on the Virgin Money website to check that you have a decent likelihood of getting approved, without affecting your credit score. You’ll need to provide your address details for the last three years and in most cases you’ll get an instant response.

*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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