Over 110 UK credit cards independently reviewed by Fiscus Credit Cards
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Credit Card from Virgin
This card was last reviewed on Sunday, 11 February 2007.
| Overall Rating: |
 |
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| Issued By: |
Virgin |
| Card: |
Credit Card |
| Network: |
MasterCard |
| Category: |
Selector |
| Acceptance: |
 |
| Insurance: |
Purchase, Travel Accident |
| Service: |
Online account management. 8am-9pm telephone line (Mon-Fri, 9am-6pm Weekend). |
| Comments: |
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| Pitch: |
"Virgin Credit Card. Get some truly flexible plastic." |
| Typical APR: |
15.9% |
| Interest Free Days: |
50 |
| Minimum Repayment: |
- |
| Annual Fee: |
No annual fee. |
| APR: |
0% interest |
| Period: |
13 Months |
| Charges: |
2.98% handling fee (min. £3) for credit card cheques and balance transfers.
3% handling fee (min. £3) for cash transactions (including money transfers).
2.75% commission on foreign currency transactions. |
| APR: |
0% interest |
| Period: |
5 months |
| Type: |
Members' shop |
| Description: |
10% OFF AT VIRGIN MEGASTORES, 10% OFF AT VIRGIN HOLIDAYS, 10% OFF AT VIRGIN WINES, 10% OFF CAR, HOME, PET AND ANNUAL TRAVEL INSURANCE and 75% OFF AT VIRGIN ACTIVE. |
| Reward Rate: |
- |
| Period: |
Life of card |
| Aimed At: |
With a choice of cards available, the Virgin product is aimed at a broad spread of consumers. |
| Review: |
The Virgin credit card comes in three different forms, thus enabling it to appeal to a broad consumer base. Two of these cards come with rewards scheme. Of these cards, one offers a 6-month, 0% introductory rate and charges a standard APR of 15.9%. The other has no introductory deal, offering a standard interest rate of 10.9%. The rewards credit card that includes an introductory offer is a pretty average affair, with many competing cards on the market offering better terms. The rewards scheme provides discount points which can be spent on various products from the Virgin group, such as CDs and cheap flights. This scheme is obviously more beneficial to those that are fans of Virgin products. However, looking at similar credit cards, you could obtain one of the re-branded Accucard packages, which offer up to 0.8% cashback and are typically obtainable with an interest of 14%. With a cashback card, the rewards program obviously does not tie you down to one retailer, as the Virgin option does. The second rewards card lacks an introductory offer but boasts a very competitive rate of 10.9%. This is actually a very reasonable deal, considering that you get the rewards scheme thrown in – arguable the best value of the Virgin cards. This fits a very nice gap in the market, although it will face some stiff competition from, amongst others, Mint, which for the same standard APR provides a cashback offer of 0.5% and a 0% introductory offer of 8 months. The final card includes a 0% 6-month offer but lacks a reward scheme. Standard APR weighs in at 13.9%. On these terms, we would argue that this Virgin card option will struggle with the competition – the Capital One Platinum card, for example, provides a similar introductory offer (which includes the option of fixing interest on balance transfers at 3.9% for the life of the balance) and charges a standard interest rate of 10.9%. In addition, Capital One’s 0% offer extends to purchases, something lacking in the Virgin Card. Overall, we would recommend the 10.9% rewards scheme card as offering the best value of the Virgin cards. However, in our opinion, this card is really only worth considering if you frequently shop at Virgin stores and purchase Virgin products. If this is not the case, a cashback card may be a better bet. As with all rewards cards, we believe that you should only obtain one if you clear your balance in full each month; otherwise your cashback savings are more than cancelled out by the higher interest you have to pay. |
| Verdict: |
- |
| Apply Online: |
Click here to apply for this Credit Card from Virgin
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| Overall Rating: |
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