Virgin Money Credit Card review
Best Balance Transfer
Balance transfer specialist with some of the longest 0% periods available. Also offers purchase cards. Virgin Money Stores for in-person support.
Overview
The Virgin Money credit card range specialises in balance transfers — offering some of the longest 0% periods in the UK market. If you have existing credit card debt with another provider, transferring it to Virgin Money can save you hundreds or even thousands in interest.
Who Is This Card Best For?
- People with existing credit card debt — transfer and stop paying interest
- Those paying high APR elsewhere — escape 20%+ interest rates
- Disciplined budgeters — those who will pay off within the 0% period
- Anyone consolidating multiple card debts — bring everything into one place
How a Balance Transfer Saves You Money
If you have £5,000 on a card charging 22% APR and only pay the minimum:
| Scenario |
Monthly Payment |
Total Interest |
Time to Clear |
| Stay on 22% APR (minimums) |
~£100 |
£3,800+ |
7+ years |
| Transfer to Virgin Money 0% |
£172/month |
£0 |
29 months |
You pay a transfer fee of 2-3% upfront (e.g., £100-150 on £5,000). But you save thousands in interest over the 0% period. The fee pays for itself within the first month compared to a 22% APR card.
Key Details
| Feature |
Details |
| Annual fee |
£0 |
| 0% balance transfer |
Up to 29 months |
| Transfer fee |
2-3% of amount transferred |
| APR after 0% period |
24.9% variable |
| Purchases |
Standard APR (not 0%) |
| Rewards |
None |
1. Make at least the minimum payment every month — one missed payment can cancel the 0% deal. 2. Do NOT use the card for new purchases — they may not be at 0%. 3. Set a Direct Debit for the minimum payment as a safety net. 4. Calculate your monthly payment to clear the debt before the 0% ends.
Balance Transfer Checklist
- Check your existing balances and APRs
- Apply for the Virgin Money balance transfer card
- Transfer the balances (do this within 60-90 days of opening)
- Set up a Direct Debit for your calculated monthly payment
- Set a calendar reminder 2 months before the 0% ends
- Do not spend on this card — use it only for the transfer
The Bottom Line
If you are carrying credit card debt at a high APR, a Virgin Money balance transfer is one of the smartest financial moves you can make. Stopping interest for 29 months gives you nearly 2.5 years to clear the debt without it growing. The only risk is not paying it off in time — plan your monthly payments from day one.
Pros
- Very long 0% balance transfer periods
- No annual fee
- Virgin Money Stores support
- Good range of card types
- Competitive transfer fees
Cons
- Transfer fee applies (2-3%)
- No rewards or cashback
- APR high after 0% period ends
- Credit limit may be low initially
- No premium card benefits