The Virgin Money No Annual Fee Credit Card offers a compelling combination of features that can save you money and provide valuable benefits. With no annual fee for life, a 0% p.a. introductory rate on purchases for 6 months, and the ability to add up to four additional cards at no extra cost, this card is an attractive option for those looking to minimize fees while enjoying a range of perks.
Why Should I Get a Virgin Money No Annual Fee Credit Card?
Introductory 0% p.a. on Purchases
New cardholders enjoy a 0% p.a. interest rate on purchases for the first 6 months, allowing them to pay off larger expenses over time without accruing interest charges.
No Annual Fee for Life
The Virgin Money No Annual Fee Card lives up to its name by not charging an annual fee, ever. This can save you hundreds of dollars over the lifetime of the card.
Additional Cards at No Extra Cost
You can add up to four additional cardholders to your account at no extra charge, making it easy to share the benefits with family members or trusted individuals.
Fraud Protection and Contactless Payments
The card comes equipped with FraudShield for irregular transaction detection and VISA Zero Liability, providing peace of mind against unauthorized charges. It also supports contactless payments via VISA Paywave, Apple Pay, Samsung Pay, and Google Pay.
Pros and Cons of Virgin Money No Annual Fee Card
Virgin Money no annual fee credit card benefits are exceptional. However, we cannot ignore some cons of the credit card. Find the potential pros and cons in the given table.
| Pros | Cons |
| 0% p.a. on purchases for 6 months | Reverts to 19.99% p.a. after introductory period |
| No annual fee for life | May have lower rewards earning potential compared to other cards |
| Up to 4 additional cards at no extra cost | – |
| Fraud protection and contactless payments | – |
Fees and Interest Associated with Virgin Money No Annual Fee Card
| Fee/Interest | Amount |
| Annual Fee | $0 |
| Balance Transfer Rate | 0% p.a. for 6 months, then reverts to 19.99% p.a. |
| Cash Advance Rate | 21.99% p.a. |
| Late Payment Fee | $30 |
| Over-limit Fee | $20 |
How to Apply for a Virgin Money No Annual Fee Credit Card?
To apply for the Virgin Money No Annual Fee Card, follow these steps:
Eligibility Check
- Be at least 18 years old.
- Be an Australian citizen or permanent resident.
- Have a minimum annual income of $25,000.
- Have a good credit history.
Gather Required Documents
- Personal details (full name, date of birth, residential address, contact details).
- Proof of identification (driver’s license or passport).
- Proof of income (recent payslips or bank statements).
- Financial details (information on any assets, liabilities, and living expenses).
Application Process
- Visit the Virgin Money website and navigate to the No Annual Fee Card application page.
- Fill out the online application form with the necessary details and upload the required documents.
- Submit the application. The process typically takes about 10 minutes.
Approval and Card Issuance
- Virgin Money will assess your application and, if approved, you should receive your new credit card within 10 business days.
How to Increase Virgin Money No Annual Fee Credit Card Limit?
To increase the credit limit on your Virgin Money No Annual Fee Card, you can follow these steps:
- Call Virgin Money’s Customer Care team at 13 37 39 and request a credit limit increase. They will assess your current financial situation and verify the necessary details.
- You must wait at least 9 months from your account open date and 6 months from your last limit increase before applying for an increase.
- The maximum increase allowed at one time is 50% of your existing credit limit. Credit limits cannot be increased beyond the product maximum.
- If you require a credit limit increase at the same time as a card upgrade, Virgin Money will process the limit increase first and then the upgrade if the limit increase is approved.
- Your application for a credit limit increase will be subject to Virgin Money’s lending criteria at the time of the request. The minimum credit limit for the No Annual Fee card is $2,000.
- Allow 7-10 working days for Virgin Money to assess your credit limit increase application.
It is important to note that requesting a credit limit increase will depend on Virgin Money’s assessment of your current financial situation. Providing accurate and up-to-date information will help expedite the process.
The Final Words
The Virgin Money No Annual Fee Credit Card provides a great mix of benefits that can help you save money and enjoy valuable perks. This card has no annual fee, an introductory 0% p.a. rate on purchases, and the option to add extra cardholders at no additional charge, making it a wise option for those seeking to reduce fees while still accessing a variety of advantages.