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Virgin Money relaunches its 38-month 0% balance transfer card

Written by: Paloma Kubiak
Virgin Money has re-launched its 38-month interest free balance transfer credit card and this time it has slashed the fee and thrown in a £10 Amazon voucher.

The credit card now offers customers a reduced one-off balance transfer fee of 2.49%, down from 2.79%.

In addition to receiving three years and two months 0% interest on balance and money transfers, it’s also offering a £10 Amazon gift card to the first 10,000 people who sign up.

The offer will run until all 10,000 gift cards go or by Sunday 24 January, whichever’s first. Successful applicants will be emailed the voucher – which is valid until December 2025 – within 14 days.

This is the second time Virgin Money has brought out its 38-month balance transfer credit card this year. It launched on 5 January and was withdrawn from the market on 14 January.

The new card offers:

  • 38 months 0% interest on balance transfers, with a one-off transfer fee of 2.49%
  • 38 months 0% interest on money transfers, with a one-off transfer fee of 4.00%
  • Three months 0% interest on purchases

The small print

Before applying, here’s what you need to know:

The introductory rates apply to balance and money transfers made within the first 60 days of opening the account. After this time, its standard rates and fees apply.

The representative APR is 18.9% variable but Virgin Money says it ensures all successful applicants receive the promotional rate and duration they apply for, so it doesn’t offer shorter balance transfer periods or higher interest rates to customers after reviewing their application.

If a customer breaches the terms, for example, there’s a late payment or they’ve gone over their credit limit, the promotional rates will no longer apply.

For customers with an existing Virgin Money card, this offer doesn’t apply.

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