Virgin Credit Card
Virgin Credit cards are one of the options you have when shopping for a new card. They have a few different cards on the market and some are geared towards helping those with bad credit. This particular credit card is for the regular consumer with good credit. It will not have an annual fee, though some Virgin cards do.
This is a rewards card with introductory rates. For balance transfers you will receive zero percent interest for 15 months. This is the longest term for a balance transfer rate on the market. Other cards have for the life of the balance, but they will charge you a lower interest rate like 2.9 percent. So while this is not for the life of the balance it is very long considering other cards through Virgin and other companies. The transfer is subject to a 3 percent handling fee. The transfer must take place within the first couple of weeks of having the account open.
Virgin also has a purchase rate of zero percent for three months. This is on top of the balance transfer deal. However, it shouldn’t be used in tandem. The balance transfer is the first thing your monthly payment will go towards. If you can’t pay off that amount before the three months is over the purchases you make will begin to accrue interest. The interest rate for the card after the intro period is over will be 15.9 percent. This is a standard variable rate and fairly common among the cards with special deals. In fact the virgin card is one of the lower interest rates, but not the lowest.
The card also has a rewards programme. The rewards programme is 10 percent off of Virgin Zawi, Virgin wines, holidays and other rewards. You will be able to take trips and get discounts when needed. Some of the discounts will come and go, but the holiday discounts will remain. The destination may be a little different depending on the year and of course the partners Virgin has for that specific period.
Overall when we reviewed this card we found it had a lot of great qualities. The lack of an annual fee on top of the 15 months for balance transfers makes this a wonderful card for getting out of debt. It can also be used for purchases that you may need discounts on or time to pay off. As long as you always pay the balance offer on time and in full every month you will not be charged interest. This is a reward for being a great customer. Other cards have a similar option. There are other fees such as the late fees, cash advance fees, and withdrawal interest rate that can add up pretty quickly, but other cards also have these fees. Depending on the type of card you need this could fit your needs perfectly. It is certainly one of the better offers available on the internet at the moment for you to take advantage of.
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