Virgin Money launches 40 month 0% balance and money transfer card

Virgin credit card

Virgin Money has relaunched its market-leading balance transfer card, offering 40 months’ 0% interest for balance transfers and money transfers.

Fees for balance transfers are 2.59%, or £77.70 when moving £3,000, while there is a 4% fee for a money transfer, or £120 for a £3,000 balance.

The card also charges no interest on purchases for three months, and the APR is 18.9%.


Anyone who successfully applies for a card with Virgin Money gets the advertised interest rate and advertised introductory offer. Most companies only give the advertised terms to 51% of successful applicants, while other people will get less good terms.

The new card is a limited time offer, only available until 24 May, which Virgin Money says is to celebrate the 40-year anniversary of punk entering the mainstream.

Customers can opt for unique card designs, featuring cover art from the Sex Pistol’s debut album, which launched on Virgin Records.


Moneywise Verdict:

If you’re looking for a balance or money transfer you won’t find a longer interest free deal out there.

You could also consider the Tesco Bank 40 month 0% balance transfer card, though the Virgin deal works out £3 cheaper when transferring £3,000 as it has slightly lower balance transfer fees.  Tesco's 40 month deal is only available until 28 April. 

Alternatively, Halifax has a fee-free 0% balance transfer deal, which will work out better for anyone who can clear their balance inside the 23-month 0% term.

Anyone looking for a money transfer should consider Virgin’s 32-month 0% deal, which is shorter but has a much lower fee of 1.69%, saving £27 on a £3,000 balance.

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