Virgin Money

Virgin Money Australia is passionate about helping Australians realise bigger possibilities through the delivery of beautifully simple and rewarding financial products, all backed by Virgin’s legendary customer service. They reject the notion of complex financial services. Instead, they aim for clarity and simplicity in everything they do.

Virgin Money credit cards

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Virgin Australia Velocity Flyer Credit Card 26 Months Balance Transfer Offer

On Virgin Money's website

Apply by 30 April 2021

Virgin Australia Velocity Flyer Credit Card 26 Months Balance Transfer Offer

Highlights

  • Enjoy 0% p.a. for 26 months on Balance Transfers with 0% balance transfer fee (reverts to Cash Advance rate of 20.99% p.a.).
  • Save with the half annual fee of $64 p.a. on the first year (reverts to $129 p.a. thereafter).
  • Receive $129 Virgin Australia Gift Voucher each year.

Pros

  • 0% interest on balance transfers for the first 26 months with no balance transfer fee.
  • Additional savings with the discounted $64 first-year annual fee.
  • $129 Virgin Australia Gift Voucher each year.

Cons

  • Purchase rate is 20.74% p.a.
Virgin Money No Annual Fee Credit Card

On Virgin Money's website

Virgin Money No Annual Fee Credit Card

Highlights

  • $0 annual fee for the life of the card.
  • Transfer your balance at 0% p.a. for 12 months on balance transfers (reverts to 20.99% p.a.)
  • 0% p.a. for 12 months on purchases (reverts to 18.99% p.a.)

Pros

  • No annual fee ever.
  • 0% p.a. interest rate for up to 12 months on balance transfers and purchases.
  • Up to 4 additional cards, also with $0 annual fee.

Cons

  • The revert interest rates for balance transfers and purchases are relatively high.

Virgin Money home loans

Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Owner, Principal and Interest) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Owner, Principal and Interest) LVR <80%

Interest rate (p.a.)

1.94%

Comp rate^ (p.a.)

2.77%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,649.82

Total repayment

$593,935.20

Highlights

  • Competitive fixed interest rates.
  • Reverts to a discounted variable rate on expiry of the fixed-rate term.
  • Additional repayments up to $10,000 per annum .
Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Investor, Principal and Interest) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Investor, Principal and Interest) LVR <80%

Interest rate (p.a.)

2.69%

Comp rate^ (p.a.)

3.39%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,822.82

Total repayment

$656,215.20

Highlights

  • Competitive fixed rates for 1 to 5 years terms.
  • Additional repayments up to $10,000 per annum.
  • Reverts to the discounted variable rate on expiry of the fixed term.
Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Investor, Interest Only) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Investor, Interest Only) LVR <80%

Interest rate (p.a.)

2.99%

Comp rate^ (p.a.)

3.40%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,894.79

Total repayment

$682,124.40

Highlights

  • Competitive fixed rates for 1 to 5 years terms.
  • Additional repayments up to $10,000 per annum.
  • Reverts to the discounted variable rate on expiry of the fixed term.
Virgin Money Reward Me Fixed Rate Home Loan (3 years) $300K and above (Investor, Principal and Interest) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (3 years) $300K and above (Investor, Principal and Interest) LVR <80%

Interest rate (p.a.)

2.69%

Comp rate^ (p.a.)

3.34%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,822.82

Total repayment

$656,215.20

Highlights

  • Competitive fixed rates for 1 to 5 years terms.
  • Additional repayments up to $10,000 per annum.
  • Reverts to the discounted variable rate on expiry of the fixed term.
Virgin Money Reward Me Fixed Rate Home Loan (3 years) $300K and above (Investor, Interest Only) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (3 years) $300K and above (Investor, Interest Only) LVR <80%

Interest rate (p.a.)

2.99%

Comp rate^ (p.a.)

3.38%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,894.79

Total repayment

$682,124.40

Highlights

  • Competitive fixed rates for 1 to 5 years terms.
  • Additional repayments up to $10,000 per annum.
  • Reverts to the discounted variable rate on expiry of the fixed term.
Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Owner, Interest Only) LVR <80%

Virgin Money Reward Me Fixed Rate Home Loan (2 years) $300K and above (Owner, Interest Only) LVR <80%

Interest rate (p.a.)

2.79%

Comp rate^ (p.a.)

3.47%

Max LVR

80.00%

Application fee

$300.00

Monthly repayment

$1,846.63

Total repayment

$664,786.80

Highlights

  • Competitive fixed rates for 1 to 5 years terms.
  • Additional repayments up to $10,000 per annum.
  • Reverts to the discounted variable rate on expiry of the fixed term.

Q&As

Isn’t Virgin an airline?

Yes, but Richard Branson is a busy guy who likes to start companies, hence Virgin Money.

In 2008, the five-year agreement came to an end and the Virgin Credit Card was withdrawn from the Australian market, although Virgin Money continued to operate a number of financial services in Australia. In 2010, Virgin relaunched a new selection of credit cards offering a very attractive mixture of no fees, low rates and beneficial reward programs.