In this brief guide, we are going to discuss the virgin credit card. How to get a virgin credit card, what to consider to ensure you get the best credit card rates.

The Virgin credit card

The virgin credit card is provided by Virgin money.

When researching the virgin credit card we sought out to find reviews for this particular card but couldn’t locate any credible reviews. We then looked at the reviews for virgin money who provide the virgin credit card as this would provide us with an indication of how the customer service for the virgin credit card would be.

You can see the virgin money reviews we found here.

There are various types of virgin credit cards,

The virgin credit card for balance transfers

The virgin credit card for money transfers

The virgin credit card for balance transfer + everyday purchases

Virgin Atlantic Reward Credit Card

Virgin Atlantic Reward + Credit Card

The virgin credit card for balance transfers

The virgin credit card has a balance transfer card which allows you to transfer the balance from another credit card to it. It has a Representative 21.9% APR (variable) and you can use the virgin credit card eligibility checker to see if you are eligible for this balance transfer card here.

What are Balance transfer credit cards?💧❄

Balance transfer credit cards are credit cards which allow you to move your existing credit card debt from another credit card to your balance transfer credit card without paying any interest for a set period of time(These are more commonly known as 0% balance transfer credit cards). 

You will usually have to pay a set fee to the balance transfer credit card provider to transfer your balance out from your current credit card provider. This is usually around 3% of the amount you are transferring. 

You can’t usually transfer out a balance from card to another if both card providers are from the same group.

The 0% interest time gives you time to pay off your debt without paying any interest. When the interest-free period comes to an end you will then move on to the card provers standard interest rate, so be sure to check this before choosing a balance transfer credit card.

If you miss your monthly repayment or your payment is late then your credit card provider can end the introductory period and move you on to their standard interest rate.

As always, the key factor for balance transfer credit cards is how long the interest-free period is and if the fee for moving your balance over is offset by the savings you intend to make.

Before you decide on a balance transfer credit card ensure you know how long it will take you to pay off your current debt without any interest charges and use this as an indication of how long in the interest-free period you will need from your balance transfer credit card.

How credit limits affect balance transfers

You can transfer your credit card balance to a balance transfer credit card but there are some restrictions. However, the maximum you can move over to your balance transfer credit card is the credit limit on your balance transfer credit card.

Example, if your new credit card limit is £5000 and your credit card provider allows you to use 50% of that for a balance transfer that means you can only move over £2500 from your old credit card.

The virgin credit card for money transfers

The virgin credit card has a money transfer card which allows you to move money from the virgin credit card to your bank account. It has a Representative 21.9% APR (variable). You can use the virgin credit card eligibility checker to see if you are eligible for this money transfer card here.

What are Money transfer credit cards?✔🛩

Money transfer credit cards are credit cards which transfer money directly into your bank account and some do this for an introductory time frame with 0% interest(these are more commonly known as 0% money transfer credit cards). You will usually have to pay a fee for them to transfer money into your current account. After the introductory period is over you will move on to the credit card providers standard rate and begin to pay interest on any outstanding balance.

Money transfer credit cards act just like a short term 0% interest loan. The introductory period on a money transfer credit card can go from 3 months all the way up to 30 months. Money transfer credit cards are really handy for cash transactions.

You will need to make at least the minimum payment on your account if not your 0% introductory standard rate will kick in and you get charged for any outstanding balance.

With typical credit cards you can access cash but you will be charged a cash advance fee. You can use this as a comparison before taking out a money transfer credit card but also take the introductory period into account as well.

Money transfer cards are a good way to consolidate any debts you might have which are not on credit cards into a cheaper product for a fixed term. This could be personal loans, overdrafts etc.

The virgin credit card for balance transfer + everyday purchases

The virgin credit card has a balance transfer card which allows you to transfer the balance from another credit card to it and also make regular purchases like a regular purchase credit card. It has a Representative 21.9% APR (variable). You can use the virgin credit card eligibility checker to see if you are eligible for this balance transfer + purchase credit card here.

Virgin Atlantic Reward Credit Card

With the virgin Atlantic reward credit card you can and earn a bonus of 5,000 miles with your first card purchase within 90 days of opening your account. You can also get an additional bonus of 2,000 miles if you apply for the virgin Atlantic reward credit card before the 31st October 2019 and spend  £1,000 within 90 days of opening your account.* Terms apply to this offer so be sure to read the terms and conditions.

With the virgin Atlantic reward credit card you will also earn 0.75 flying club miles for every £1 you spend on card purchases.

If you spend £2o,000 a year then you will unlock further exclusive benefits such as flight upgrades, companion flights etc.

Representative example:

Purchase rate: 22.9% p.a.

(variable) on card purchases

Equivalent to: 22.9% APR

representative (variable)

Based on a credit limit of £1,200

The Virgin Atlantic Reward credit card does not have an annual fee and the credit limit you receive will be based on your individual circumstances.

You can check if you are eligible for the Virgin Atlantic credit card by using the credit card eligibility checker from virgin money. You can find it here.

Virgin Atlantic Reward + Credit Card

With the virgin Atlantic reward + credit card you will earn 15,000 bonus miles with your first card purchase within 90 days of opening your account. You Will Also get an additional bonus of 10,000 miles if you apply for the Virgin Atlantic reward +credit card before the 31st October 2019 and spend  £3,000 within 90 days of opening your account.* There are terms and conditions which apply to this offer so be sure to reach the terms and conditions.

.

You will also earn 1.5 Flying Club miles for every £1 you spend on card purchases. If you spend at least £10,000 in a year on your Virgin Atlantic reward + credit card. You will also unlock exclusive benefits such as flight upgrades or companion flights. There are terms and conditions for this so please read the relevant terms and conditions document.

You will also get free Boingo Wi-Fi for Mastercard cardholders at 1 million worldwide hotspots.

Representative example:

Purchase rate: 22.9% p.a.

(variable) on card purchases

Equivalent to: 63.9% APR

representative (variable)

Based on a credit limit of: £1,200

The Virgin Atlantic Reward + credit card has an annual fee of £160 and the credit limit you receive will be based on your individual circumstances.

You can check if you are eligible for the Virgin Atlantic credit card by using the credit card eligibility checker from virgin money. You can find it here.

On the rewards available with either of this virgin Atlantic credit cards, Virgin money states on its website:

Does Virgin credit card have app?

Yes, the virgin credit card has an app which you can download on IOS or Android. The virgin credit card app will allow you to view your credit card statements, manage your credit card repayment options, track your balance and transactions, view your pin, freeze your virgin credit card and manage balance transfers.

Managing your virgin credit card

You can manage your virgin credit card online here. You will be able to see your miles balance here, make credit card repayments and find out what your current outstanding credit card balance is.

To manage your virgin credit card you will need to register for the online portal. To do this you will need a registration code which would have been sent to you once you signed up for the Virgin credit card.

Once you have registered to the online portal you will then need to activate your virgin credit card before you can begin using it. Once this is done you will be able to view all the transactions on your virgin credit card, make credit card repayments and start a balance transfer.

How to activate your virgin credit card

To activate your virgin credit card

You’ll need 

Your Virgin Credit Card number

Your Registration code. You’ll find this in your emails. Remember to check your junk folder, it may be there.

Alternatively, you can call Virgin to activate your card on 0800 917 7491.

How to view your virgin credit card pin

To view your virgin  credit card pin you should log in to your virgin account online, click on “find services” and then click on “view pin”

You’ll be sent a 6-digit access code to your registered mobile phone number. This will expire 5 minutes after it’s sent, so look out for it.

Enter the code, hit ‘Submit’ and follow the instructions to view your pin.

What to consider when getting your credit card?

Whilst the virgin credit card may be right for you, there could also be other potential credit cards which suit you better. It is always advisable to use a credit card eligibility checker 

Which provides you with all the credit cards you may be eligible for outside of the virgin credit card.

When comparing multiple credit cards; below are the things you should look out for before applying.

Eligibility

Each card issuer will have its own lending criteria that you will need to meet before they will provide you with an offer of credit. 

There are now credit card eligibility checker platforms which let you know which credit cards you are eligible for and which you have a high probability of getting on application. 

Most credit card providers now have their own credit card eligibility systems in place which will let you know if you will be approved for a credit card with them or not. These tools use a soft credit check t pull your credit file data and hence does not leave any footprints which are visible to the public or harm your credit score.

You should avoid applying for a credit card if you are not confident you will be accepted as rejections for credit could damage your credit score and history. This may then affect your ability to get further credit in the future.

Interest rates

When getting a credit card, the interest rates on the credit card are a very important factor and you should always lookout for the APR figure. The interest rates on the credit card are the rates that will be charged on any outstanding credit card balance which you carry over from one month to another.If you pay your credit card balance in full each month then you will not have any interest to pay.

Credit cards typically come with up to 55 interest-free days on purchases if you don’t carry a balance month-to-month.

Credit limits

You should look at the credit Credit limits when choosing a credit card provider as the credit card limits will determine how much you can spend on your credit card. Most credit card providers may offer you a credit limit increase if you can show good credit behaviour over a few months.

Rewards and perks

Credit card providers offer various rewards and perks but usually, these are reserved for applicants with high credit scores.

Fees

Some credit card providers will have annual fees on their credit cards but these are usually for credit cards with high credit card limits and lots of rewards or perks.

You should always check what fees are attached to your credit card.These can include annual or monthly account fees, cash advance (withdrawing cash using the card) fees, overseas transaction fees and others.

Who owns Virgin credit card?

The Virgin Credit Card is issued by Virgin Money plc – registered in England and Wales (Company No: 6952311).

In this brief guide, we discussed the virgin credit card. If you have any questions or comments then please let us know.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.