As the name implies, this Virgin credit card has no annual fee, which is valid for the lifetime of the card, and comes with a whole host of other advantages including but not limited to some great rates.
The Virgin No Annual Fee Credit Card: The Rates
This Virgin No Annual Fee credit card offers some of the lowest market rates for purchases as well as balance transfers, making it an ideal card to use if you want to get a handle on your outstanding credit card debt. The balance transfer rate is only 2.9% p.a. for 6 months. So, if you are going to take advantage of it make sure that you can pay of your debt in full within the balance transfer period or the amount will be subject to the 20.99% p.a. rate that applies to cash advances. However, you should find it a lot easier to pay off your debt when the majority of the payment is going towards paying down the balance rather than the interest.
Likewise, the rate of purchases is quite low compared to other companies, coming in at only 18.99% p.a.. It’s worth remembering, though, that if you have taken advantage of the low balance transfer rate, all payments will go towards paying of the balance transfer first.
Another advantage is that you won’t be charged a fee once a year for the privilege of using the Virgin no annual fee credit card. This might not seem like such a big thing but next time you open your credit card bill and find that you have been charged a fee you forgot about completely you might appreciate the no annual fee policy that is valid for the lifetime of this Virgin credit card.
The Virgin No Annual Fee Credit Card: Application
Applying for the Virgin No Annual Fee Credit Card is quite simple as it can be done online. As long as you meet the conditions, namely that you are over eighteen, have an income greater than $20,000 per annum, are a permanent Australian resident and have a good credit rating, you can head over to the Virgin Money website and start filling out the forms.
This Virgin credit card is a great tool you can use to get your outstanding credit card debt under control due to the low balance transfer rate, while the low purchase rates are a step in the right direction so you never have to worry about getting into the same situation again.
Read the official terms and conditions
Related posts:
