Virgin Money Australia - Low Rate Credit Card
Balance Transfer Offer
The Virgin Money Australia Low Rate credit card has 0% p.a. on balance transfers for the first 15 months. The rate on balance transfers will revert to 21.69% p.a. thereafter. The purchase rate on this product will be 12.99% p.a. with up to 55 days interest-free on those purchases.
The annual fee on this card is $99.
A purchase rate of 12.99% p.a. and up to 55 days interest-free on those purchases.
Annual Fee
$99 per year
Balance Transfer
0% for 15 months reverts to 21.69% p.a.
3% BT fee applies.
3% BT fee applies.
Purchase Rate
12.99% p.a.
Interest Free Period
up to 55 days
Details
Card Type
Visa
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$2,000
Maximum Credit Limit
$100,000
Fees
Annual Fee
$99
per year
Late Payment Fee
$30
per statement
Cash Advance Fee
2.70% or $2.70
per transaction, whichever is greater
Additional Card Holder Fee
$29
Additional Card Holder Cap
up to 4
additional holders
Rates
Purchase Rate
12.99% p.a.
Cash Advance Rate
21.69% p.a.
Balance Transfer
Balance Transfer
0% for 15 months
reverts to 21.69% p.a.
3% BT fee applies.
3% BT fee applies.
Balance Transfer Limit
80%
of credit limit
Balance Transfer Fee
3%
per transaction
Overseas Spending
Foreign Currency Conversion Fee
3.30%
per transaction
Overseas Cash Advance Fee
3.30%
per transaction
Eligibility
Minimum Age
18
years old
Minimum Income
$35,000
per year
Temporary Residents
No
Perks
Complimentary Travel Insurance
No
Airport Lounge Access
No
Who is the product designed for?
The target market for the Product is individuals who:
- are seeking a line of credit facility for everyday spending that has a low interest rate
- are an existing Virgin Money customer or are seeking to become a Virgin Money customer
- meet eligibility criteria and serviceability requirements for the Product
- are likely to carry a balance and look to take advantage of reduced interest rates and/or instalment repayments on a Fixed Payment Option or a Balance Transfer (including holding a Balance Transfer for longer than the period during which a reduced interest rate applies).
Visit Virgin Money Australia to view Target Market Determination Effective From: 2024-10-03.
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