Revealing the Virgin Credit Cards

The virgin credit cards, launched by the owner of Virgin group Sir Richard Branson, were first issued by MBNA Europe Bank in the United Kingdom in 2002. They are also available in South Africa and Australia though Virgin money, one of the companies of Virgin group that offer many products with Virgin brand. The other popular products of this brand are Virgin Music and Virgin Atlantic. The card has been issued in many design, snakeskin pattern being the oldest one, and later replaced by Virgin Red, Cool Black, and Pretty Pink. There is also a Virgin and American Express cobranded credit card available in the UK.

Why Virgin Credit Cards are talk of the town

Although a new entrant of the UK’s credit market, this card got popular very quickly. The reasons for this are a well-known Virgin brand of Sir Richard Branson, which was already popular for other products as mentioned above, and the card’s simple and straightforward terms and conditions that made sense. The cards look great and are also feature-rich.

Main Features of Virgin Credit Cards

These cards offer great features, unmatched by any other brands of credit cards. Some of the features that make them prominent and popular are:

1. There is no annual fee, thus keeping this card doesn’t carry any liability. This feature was almost the first introduced in the region by this card.

2. There are no balance transfer fees and zero interest rate for the longest period, i.e. first 16 months. You can transfer you balance from any credit card at no extra charges and enjoy freedom from interest for more than a year. The interest rates after 16 months are also lower than many other credit cards.

3. The interest rate on purchases made through this card is also very low. The interest starts to accumulate after two months of the purchase, so if you pay within two months of your purchase, you won’t be paying any interest on use of the credit service. The interest rate after two months is 13% per annum, which is also lower than most of the credit cards that is 16% or above per annum.

4. The card also provides great online banking features. You can also apply for Virgin Credit Card online. You can also know online what other facilities this card provides.

Besides these features, Virgin Card runs a rewards programme named Mates Rates instant rewards which allows card holders to claim many things they want in exchange for points redeemed. The offers in Mates Rate also include other Virgin products such as Virgin Blue, Virgin Mobile, Virgin Atlantic, and a restaurant discount scheme.

These cards are managed by several companies including Westpac, American Express, and MasterCard. The card issuers are accessible 24 hours 7 days a week though a phone call or online for any queries or complaints.

Finally, it is worth advising that as with any other credit card you should pay off at least the minimum monthly balance on your Virgin Credit Card to avoid any penalty. This is also essential for avoiding any negative impact on your credit history.

Simon Clifton - About Author:
Peter Robinson is a personal finance journalist who specialises in Virgin Credit Cards. As a regular blogger and contributor to www.cardchoices.co.uk, Peter's mission is to help consumers get the best deal they can from the credit card industry. His writing covers all aspects of credit card news, product reviews and commentary on new legislation that affects credit card users.

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