Virgin Money No Annual Fee Credit Card

Virgin Money No Annual Fee Credit Card


  • $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 and cons


  • 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.


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

Our review


Customer service

Rates and fees



How good is it when you can have the words ‘money’ and ‘no annual fee’ all wrapped up in the same credit card? Because the Virgin Money No Annual Fee Credit Card is all about giving to the cardholder and taking nothing away. Yes, you’ll receive a cashback on your card for meeting a moderate spending target, and there’s no annual fee, ever.

Of course, there are the usual fees for cash advances, late payments and the like, and interest charges if you need more than the standard monthly interest-free days, but these are avoidable costs. Perhaps the only disappointment is that there are no Virgin Velocity points to be earned, but the absence of an annual fee more than makes up for this.

No annual fee for life

A no-nonsense, no-fee card like this is ideal as a starter card, especially if you are a student on a restricted budget. But there’s no reason why it shouldn’t be the go-to card for anyone looking for free, uncomplicated credit. The $25,000 minimum income requirement may be a problem if you are just starting out, but remember to take another look at this card once you can overcome this hurdle.

Interest-free balance transfer offer

Here’s another good reason for switching from your complicated, expensive, high-interest card to this pared-down, free, lower-interest alternative. Take the unpaid balance on your existing card, which may be costing you as much as 20% p.a. in interest, and transfer it to your new Virgin Money card. You’ll pay no interest at all on the transferred balance for 12 months.

Virgin Money’s balance transfer calculator says that you could save $1,324 by transferring a $7,000 balance from a 20% p.a. card.

This is not the longest balance transfer offer available. Some balance transfer cards offer two interest-free years or more, but there is almost always an annual fee involved for these longer deals.

If you do make a balance transfer, plan to use another card for purchases for 12 months (or avoid using a card for purchases altogether) because anything you buy while you have an unpaid balance will attract interest charges from the date of purchase.

Also, beware the revert rate – in this case, the cash advance interest rate of 20.99% p.a. – which applies as soon as the introductory period ends. Make a diary note of the offer’s expiry date, and aim to pay off all your debt by then.

Slightly lower than normal interest rate on purchases

The interest rate on purchases, should you need to use it, is 18.99% p.a. Once again, this is far from being the lowest interest rate around, but it’s certainly lower than the 20+% p.a. found on many cards. Having a slightly lower than average purchase interest rate makes good sense for those times (like around Christmas or your annual holiday) when you may need to use a longer credit period to even out your expenditure.

Up to 44 days interest-free each month

However, with a little planning you can avoid paying interest altogether. You’ll get up to 44 days interest-free each month. The interest-free days are the time which elapses between the date of your purchase and the payment due date after the end of each month’s billing cycle. Virgin Money will give you 14 days to pay after your monthly statement is issued, so any purchases made on the first day of the cycle are free of interest for 44 days.

Pay off your account balance in full each month, on or before the due date, and you will never be charged any interest.

Spread the love with four additional cards

If you have family members or close friends you can trust with your credit, you can share the card’s benefits with them in the form of supplementary cards on your account. You’ll still pay no annual fee for these additional cards – up to four of them – but bear in mind that you alone are the accountholder ultimately responsible for repaying the debt.

No rewards points or insurance

Choosing this card probably means you aren’t interested in Velocity Points, airport lounge passes, or complimentary insurance policies, the kinds of bonus features used to lure big spenders. Points and insurance cover are rarely ‘free’ because you will almost always be paying for them in the form of an annual fee or a high purchase interest rate. This card has no points, no insurance, no annual fee and a moderate purchase interest rate.

Is the Virgin Money No Annual Fee Credit Card worth it?

This card will be a good match for you if you want an uncomplicated card that will cost you nothing to keep in your wallet. It won’t hassle you about loyalty points or ask you to pay for insurance policies you won’t use. It would be a suitable first credit card or one for the cost-conscious.

Yvonne Taylor

Reviewed by Yvonne Taylor

Lead Product Analyst

User reviews


Customer service

Rates and fees



Easy and hassle-free basic credit card

Reviewed by Isabel

The main reason I signed up for this card was because it has no annual fee. I’ve been using it for a few years with no issue. An ideal credit card for people who are disciplined with money (i.e. pay outstanding balance every month) and don’t need all the trimmings like reward points. I’d recommend it to students, or mature people who just want a credit card to do a bit of online shopping.

No annual Fee

Reviewed by Barry

Because it has no annual charge.

Great card, easy to use

Reviewed by Lynette

Great card, easily accessible and they give assistance when increases are required. Use the card all the time for payments for the internet. Can’t do without a credit card as it allows us to spread out bills into manageable repayments. Helpful when travelling interstate as you can use it everywhere and for paying motels.

Excellent card

Reviewed by Judy

We find the Virgin Card great to use and easy to pay. The rewards are fantastic. The no fees are great and we can get 4 half price flights each year to anywhere in Australia. This is fantastic for us to be able to visit family interstate. Best thing we’ve ever done.

Great card

Reviewed by Great Card

My Virgin card is used on a daily basis and I have never had any problems with using it anywhere in Australia. I have not used it overseas when I have travelled so I cannot review though type of transactions. I pay my account off each month in full so that may also be a reason I don’t have any problems and find it so good.

Very pleased with this card

Reviewed by Natalie Donsky

I got this card because it had no annual fees for life. It has since become an Ignite card supported by Westpac. True to its initial claims it has been fee free. I am able to transact with my card using Westpac which makes it easy. I have never had a problem using my card and the accounts are mailed to me each month I use my card.

Staff are excellent at Virgin Money

Reviewed by Dee

Always helpful staff – they’re pleasant, actually helpful, always available on phone and patient with your specific needs. You also have their website, which is accessible and easy to use 24/7.

Never have had trouble with my Virgin credit card.

An unforgiving provider

Reviewed by Greg

Unknown to me when I got this card there were to be late fees of $10 per day your payment is late. I once failed to receive a bill in the mail and only found out my payment was late because I got a phone call from them about it. They wouldn’t waive the fees for me for not receiving the bill on time and had to pay a hefty late fee.

No annual fee winner!

Reviewed by Belinda

I love that this card has no annual fee. It’s the only card I would have because of it! If I have ever needed to contact Virgin, their customer service have been prompt and helpful. Their website is easy to navigate and bill payment is easy. I would highly recommend this card.

High interest, no rewards

Reviewed by Kim

Customer service is good. The downside is that I don’t get any rewards or incentives with this particular card. The interest rate is a bit too high also.

If I could change cards I would , but at this stage I need to pay it off. Once I have achieved this I will look into another card.

Interest-free but useless customer service

Reviewed by Steff

This card has an 18 month interest-free period on balance transfers. I got this card to roll my loan and credit card into one interest-free card to pay off quickly and I am very happy with the deal.

What I’m not happy with is the customer service. The multiple team members I spoke to could not follow clear instructions from myself or my other bank (where I held the original loan and credit card) and were not following through on rectifying the issues that they were causing after they assured me everything had been sorted out. I had to follow them up myself several times before it was eventually resolved.

I save on annual fees and charges

Reviewed by Renee

It’s a good card to get to save on annual fees and charges. I like a low interest rate and I’ve found this one to be the best for my circumstances.

Their friendly customer service will help you choose the right card for you. There are lot of excellent options to save money.

Great service, and no annual fee

Reviewed by Daryl

The card has no monthly fee, so it is great. It is easy to use and doesn’t cost anything if you pay the money back before a certain date.

It was simple to apply for it and I can access my statement online without hassles. It’s beneficial to own this card.

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