- 0% p.a. for 15 months on balance transfers with no balance transfer fees. Reverts to cash advance rate
- Low purchase rate of 12.99% p.a.
- Easy and convenient payments via Visa payWave for purchases of up to $100
- Eligible with Apple Pay and Samsung Pay
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Virgin Money Credit Cards
Virgin Money Low Rate Credit Card
Updated 1 November 2024
Enjoy 0% p.a. for 15 months on balance transfers with no balance transfer fees. Save with a low ongoing purchase interest rate of 12.99%. Up to 55 days interest free on purchases. Convenient and safe payments with Apple Pay, Samsung Pay and, Visa payWave.
Purchase Rate (p.a)
12.99%
Balance Transfer (p.a)
0% for 15 months
No balance transfer fee.
Reverts to 21.69% p.a.
Annual Fee (p.a)
$99
Pros and cons
- After the balance transfer period has ended any unpaid balance reverts to the high cash advance rate
- Additional cardholders cost $29 per card per year
Creditcard.com.au review
Editor Review
Virgin Money Low Rate Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Virgin Money Low Rate Credit Card
Who says good things don’t come in small packages? With the Virgin Money Low Rate Credit Card you can enjoy pretty darn awesome introductory offer on balance transfers and other handy classic features all wrapped up into one unassuming low rate card.
With heaps of goodies to be uncovered, this is one credit card offer that’s definitely worth checking out. So, without further ado, let’s get into it.
What we love...
When it comes to low rate credit cards, you’ll usually find many are no-nonsense options that allow you to enjoy low rates, but not much else. But, not this little card.
Sure, it may be lacking certain premium features such as a 24-hour concierge service or VIP airport lounge access, but that doesn’t mean it hasn’t got plenty of other great qualities to keep you happy.
First, there’s that introductory offer on balance transfers. If you happen to have credit card debt on other cards, you may be able to take advantage of the Virgin Money Low Rate Credit Card’s balance transfer offer.
With this offer, you can get 0% p.a. on balance transfers for the first 15 months with no balance transfer fees, giving you ample time to pay down that debt, while enjoying some breathing space from interest. Plus, no balance transfer fee applies when you transfer an existing credit card balance. You can fully enjoy this money-saving introductory offer without being charged extra.
What’s not so great...
As with any credit card application, it pays to read the small print before signing on the dotted line. While the balance transfer offer provides a very nice 0% p.a. for 15 months with no balance transfer fees, it is worth noting that any unpaid transfer amount will revert to the cash advance rate at the end of the introductory period.
Why should you choose this card?
Even if you don’t need the balance transfer offer, there are still plenty of reasons why you might want this card in your wallet. Of course, you can enjoy a low rate on purchases on a credit card with a reasonable annual fee.
You can also take advantage of a number of other features, such as up to 55 days interest free on purchases, irregular transaction detection with FraudShield, Visa Zero Liability and 24/7 account access. Want another cardholder on the account? That’s yours for an additional fee of $29.
This card comes with an annual fee of $99 and additional cards (up to 4) cost $29 per card per year. If you can afford to spend such an amount on your card each year, then this card can provide you a convenient way to pay existing debt with its 0% introductory balance transfer offer and make use of other handy features.
Overall Rating
A lovely low rate card with an even lovelier introductory offer on balance transfers - 0% p.a. for 15 months on balance transfers with no balance transfer fees.
User reviews
Rates and fees
Interest rates
Purchase rate 12.99% p.a.
Cash advance rate 21.69% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 15 months
Balance transfer revert rate 21.69% p.a.
Balance transfer from personal loan Yes
Balance transfer fee No fee
Balance transfer limit 80% of approved credit limit
Brands you can't balance transfer from Bank of Queensland, Coles, IMB, Qantas Money, Suncorp, Virgin Money
Credit limits
Minimum credit limit $2,000
Maximum credit limit $100,000
Fees & repayments
Annual fee $99 p.a.
Additional cardholder fee Up to 4 - $29 p.a.
Foreign transaction fee 3.3%
Minimum repayment $30 or 2%, whichever is greater
Cash advance fee 2.7% or $2.70 whichever is greater (domestic) ; $5 (international)
Late payment fee $30
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Eligible with Apple Pay and Samsung Pay
Overview
Virgin Money Low Rate Credit Card
An obvious choice as a low rate credit card with 0% p.a. on balance transfers for the first 15 months with no balance transfer fee (reverts to cash advance rate). If you currently have credit card debt with another institution, you can take advantage of this great introductory offer. Other features include up to 55 days interest free on purchases, irregular transaction detection with FraudShield, Visa Zero Liability and 24/7 account ac cess.
Key features
- Low variable purchase rate of 12.99% p.a.
- 0% p.a. for 15 months on balance transfers with no balance transfer fee. Reverts to cash advance rate
- Additional card holder fee of $29
- Up to 55 days interest free on purchases
- Easy and convenient payments via Visa payWave for purchases of up to $100
- Eligible with Apple Pay and Samsung Pay
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
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Resident or citizen of Australia
-
Minimum income of $35,000 p.a.
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
Recently Asked Questions
Something you need to know about this card? Ask our credit card expert a question.
Ask a question40 questions (showing the latest 10 Q&As)
Hi i like to transfer my existing credit card dept
Hi Radi, if your existing credit card debt is not with Bank of Queensland, Coles, IMB, Qantas Money, Suncorp, or Virgin Money, you may be eligible to apply for the Virgin Money Low Rate card and request a balance transfer. I've written an article outlining some key rules for balance transfers for more information.
Hi Pauline, how do I apply for this card, I am currently with Anz
Hi Helen, unfortunately, we’re not partnered with the Virgin Low Rate card currently but you can head over to their official website page to apply. Alternatively, you may explore some other low rate credit card options that are similar.
Hi, how can I apply for this?
Hi Paula, we’re currently not partnered with the Virgin Australia Low Rate card but you can go to their official site to apply. Alternatively, you may consider exploring some of the other low rate credit cards that are similar to this offer.
Can I withdraw money with eftpos added onto my grocery shopping ie cash out?
Hi Tanya, this is totally possible but will be treated as a cash advance and be subject to the cash advance rate of interest.
Is there someone I can speak to for advice on applying for a credit card?
Hi Mira, we’ve written a few guides on applying for credit cards that would be a good place to start if you’re interested. 7 Rules To Live By When You Get Your First Credit Card and how to apply for your first credit card. The Australian Government’s MoneySmart site also has some great articles on credit cards too.
Hi I already have a virgin credit card..
Can I transfer to this card and cancel my other one
Hi Kim, you will not be able to transfer your current Virgin credit card debt to this card. You will need to look at an offer outside of Virgin(Citi) if you want this. Have a look at the ANZ Low Rate.
Bankruptcy credit cards
Hi Brady, there is no way to get approved for any credit cards when you are bankrupt.
Hi, my partner and I are looking to consolidate our credit cards onto one card, using the Virgin money low rate credit card. Can we both transfer, or do the credit cards we are transferring from have to be under one name?
Hi Sarah, you would both need to get separate balance transfer offers for each of you. You can only balance transfer debt in your own legal name.
Re Low Rate Credit Card, when does first $49 annual fee become due?
Hi Colin, the annual fee, with all credit cards, it charged soon after card activation. So it hits your account pretty much straight away when you get your card.
what does "introductory period" mean. Does that mean the 14 month in a 14 month interest free dare
Hi Sonia, in this case, it means the balance transfer offer related to this card. The 14 months at 0% are for any balance you successfully transfer. This means that you have current credit card debt (non-Citi). Then you apply for this card to pay off the debt for you. Then you receive 0% at 14 months on the balance transfer amount. This intro rate does not apply to new purchases. If you are looking for a 0% purchase offer. Check out our 0% Purchase section.
Hi,
I have 2 credit cards with about 5k on each. I want to balance transfer so i can stop the interest and can afford to pay the 10k off this way in 1 year. I don't need credit -i just want to pay off my debt. My debt is currently with ANZ and Amex David Jones cards. Can you recommend a card that will BT from to credit cards?
Hi Anouk, if you can do it in a year. Then I suggest you get a card that has no balance transfer fee and low or even no annual fee for at least 12 months. This Virgin Money low rate card could work. If you think you could need a few months more to pay. Then this Virgin Flyer offer could be better. For $1 extra annual fee, you get more features plus a $129 voucher. With no annual fee first year, have a look at HSBC Platinum Qantas. It has 0% for 12 months with no balance transfer fee.
I am new in my business. Been 4 months. I am not australian citizen or resident yet but on family visa. Am I eligible for the credit card?
Hi Sukh, based on the information you have provided it will be tough to get approved for a credit card. Virgin do not accept temporary residents so no go there. I think you may need to wait until you have been in business at least 6 months. It could be longer depending on the bank. I would look at a bank like ANZ. Check out the ANZ low rate.
I have around 70 days bank statements only will be good enough I work full time 32 an hour
Hi Jacob, I am not sure how long of bank statements you need. To apply you need to be 18yrs + old, Permanent Australian resident, Minimum income of $35,000, Minimum credit limit of $6,000 and have a good credit rating. Details to have handy: Your income and living expense details, The credit limit (or outstanding balance) of any credit cards or loans you have and the card or account number/s of any balances that you wish to transfer. If you have all this then you can have a go and see how it works out. If you are not approved I would then wait at least 6 months before applying for another credit card offer.
Does this card earn points in every dollar spending? Where to use the points?
Hi Marissa, this card does not earn any points on spend. Typically no low rate credit cards earn points. Have a look at our rewards credit cards comparison for cards that earn points. The interest rate is typically around 20%. So reward cards are best used by people that pay off the balance in full each month, thus avoiding interest.
Hello, Are are also able to withdraw cash from this card if we need to in Australia and overseas? What is the maximum we could withdraw and what are the fees? Thank you.
Lara
Hi Lara, the cash rate on this card is 21.69% p.a. With cash advances you get charged interest from day 1. Therefore you need to pay off this type of activity ASAP. The Cash advance fee is 2.7% of the transaction. The maximum you can withdraw would be your credit limit inc fees. Cash advances are not recommended and only should be used if really needed. The purchase rate is so much lower.
i have a pensioner concession card. will anyone give me a credit card. i have no debts
Hi Deborah, approval depends on a range of factors. You need to meet the minimum income requirements to apply for a credit card. Additionally you need to make sure that your income sources are accepted. To be approved for a new credit card you need to have good credit. Key factors are income v expenses, assets v liabilities and your credit history. If you are putting away money each month this is a good sign to the bank that you have access funds to pay off your new card. This Virgin low rate credit card has a minimum income requirement of $35,000 a year. The age pension and a range of others are accepted by Virgin (Citi) as income which is good.
What is the maximum age covered by your travel insurance
Hi George, there is no travel insurance available with the Virgin low rate credit card.
can I do balance trasfer to amex card. i have some debt to pay on amex card can i do balace transfer and is there any hidden cost?
Hi Ishrat, yes it is possible to transfer AMEX credit card balances to this Virgin Money low rate credit card offer. No hidden costs, 0% for 14 months with no balance transfer fees.
can you have points transfered to Qantas frequent flyer
Hi Gloria, this is a non-points earning low rate credit card. For Qantas points earning, have a look at https://www.creditcard.com.au/qantas-credit-cards/.
I have a personal loan and wish to Balance Transfer over to a credit card, is this possible with the Virgin Money Low Rate Credit Card? Are all Balance Transfer Credit Cards deals accepting a Personal Loan transfer? If not, do you have a filter for searching with this criteria? Thank you
Hi Dom, yes you can transfer non-Citi loan debt to this Virgin balance transfer offer.
Simon
16 January 2014The long balance transfer period is giving me plenty of time to pay off my credit card debt, plus the lower purchase rate is good too except I've never had any issues paying my account on time to take advantage of the interest free days. My only complaint would be with the higher annual fee for a basic low rate card.
Recommends this cardCreditcard.com.au Visitor
28 January 2013This is a good card - rate is low. Glad I got it before the fee went up!
Recommends this cardTim Jonas-Richards
28 January 2013Super low interest rates. If you want a cheap card you can’t get much better than this. One of the cheapest rates around I think. Plus annual fee is low too so you save even more at least for the first year.
Recommends this card