Virgin Money Credit Card Payments

9th July 2010

Virgin Money has announced plans to change the order of payments on its credit cards from 1st September so that the most expensive debt gets paid off first as compared to the current system where any payments made to your credit card account go towards the cheapest debt first.

Under the new regulations which are to be introduced across all credit card companies by the end of the year, payments must be allocated against the most expensive card debt first, reducing the amount of interest that cardholders will have to pay. Virgin join MBNA, Saga and the Co-op Bank, who have brought in these changes well in advance of the official deadline.

The Virgin credit card offers 0% on balance transfers for 14 months for transfers made within the first 60 days, with a 2.98% handling fee and a typical 16.6% APR variable and also comes with an introductory offer on purchases of 0% for 3 months.

The Virgin credit card offers a wide range of discounts on other Virgin products, including half price Virgin balloon flights, 1 month free at Virgin Active and 10% off Virgin Holidays and Virgin Wines when you pay using the Virgin credit card.

The Virgin credit card is available for online applications to UK residents who are over 18 years in age with a bank or building society account and a good credit history.