Virgin Money - Get a Super Low 0% P.a. for 9 Months on Balance Transfers + VFF Point Incentive

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Virgin Money

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  easternculture on 31/07/2013 - 15:13

  +2

  Annual fee $129

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  busterau on 31/07/2013 - 15:14

  +2

  Might want to add $129 annual fee

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  hamza23 on 31/07/2013 - 15:14

  +1

  $129 annual fee.

  • 

    cornucopia on 31/07/2013 - 15:23

    Done.

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  puffinfresh on 31/07/2013 - 15:17

  "Buy a Virgin domestic Saver fare and get an exclusive reduced offer for you and a friend"? It used to be buy one get one free.

  • 

    mr_me450 on 31/07/2013 - 16:26

    The details state it's 50% the combined fare of you and a friend, which equates to the same thing as buy one get one free.

    • 

      puffinfresh on 31/07/2013 - 19:16

      Ok, that's the same as it has always been; you get 50% off each fare. They did used to advertised it as buy one get one free though, and the fine print explained how exactly that was arranged.

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  calcium on 31/07/2013 - 15:51

  +2

  One more thing with these balance transfer things.

  Once you use the card, any payment you make will pay off the transferred amount first.
  So you will pay interest on the spent amount until the transferred amount is cleared.

  eg you transfer $2000.
  You then spend $1000.

  If you pay $500 off the card, you've just paid off the transferred amount
  and you will continue to pay interest off the $1000 until the $2000 is paid off.

  • 

    atlas on 31/07/2013 - 16:10

    Pretty sure that may have been in the case back in the day, but some cards do apply the payment to the expenditure first.

    • 

      Holysmoke on 31/07/2013 - 16:57

      +1

      Payments are alloocated in order of interest rates - so highest interest bearing amounts are paid off first.
      So payment will be applied to expenditure first but you will still be charged interest on your purchases from the second month even if you paid the full amount of purchases from your first month. This is because you have not cleared your full account to qualify for 55 days interest free on purchases. ie. the account is looked at as a whole and the balance transfer amount is still considered as an amount due.

  • 

    Arjav on 31/07/2013 - 17:38

    +1

    Virgin did that to me as well. And they had special scheme that if you use your card for retail in first month then they would give x amount of points, but they never told that i'll have to continue paying interest on those retail purchases until i pay off my balance transfer first. They wouldn't sort the issue either - instead they advise me to contact legals if I thought they were wrong.

    FYI - No banks / credit card companies are allowed to do this anymore as per the new laws. Your highest interest paying debt get's paid off first and then the rest. Virgin is always NO - NO for my friends and family. The core interest of Virgin is misguiding customers and make money of them. Every banks makes money but in my experience of over 11 financial institutions Virgin money is PATHETIC.

• 

  spacejase on 31/07/2013 - 16:24

  there are a couple of cards that have 0% for 6 months on balance transfer and no annual fee, HSBC is one of those, Bankwest used to have one, not sure if it still does

  if you want to pay $129 a year, thats up to you I guess

  • 

    nafe on 31/07/2013 - 16:51

    $129 a year is a bit, depends on whether you can utilise the Velocity Rewards effectly to negate it. If you score one free fare that cancels out the fee I suppose

• 

  amsaini15 on 31/07/2013 - 17:13

  Does anyone know any other card that is currently offering 0% balance transfer for 6-12 months with no Annual fee (other than HSBC)?

  • 

    Arjav on 31/07/2013 - 17:43

    +1

    Currently only HSBC has 0% interest (6months) 0% annual fee mate.
    http://www.hsbc.com.au/1/2/btoffer?r=by&WT.mc_id=AUH_hcceoby…

    They are good in a way as HSBC card could be use for your interest free electronics purchases from retailers that don't accept GoMoney eg. JB-HiFi

    The other option could be ANZ low rate credit card 0% interest (9months) & $58 annual fee
    http://anz.com/personal/credit-cards/low-interest-rate/

    You can never go wrong with ANZ. I have been banking with them from 12 years and they are still my preferred day to day banking providers.

  • 

    atlas on 07/08/2013 - 13:24

    I recently got a Bankwest one but it appears to have been withdrawn.

    I also recently rang up to cancel a NAB credit card and they said that my card currently had a 6 month 0% offer for 100% of the credit limit, so I took them up on it. Maybe try calling your bank and see what they can offer.

    Edit: Citibank Readycredit have a 6 months 0% no annual fee offer: http://www.citibank.com.au/Lending/readycredit.htm

• 

  Arjav on 31/07/2013 - 17:29

  +1

  $129 a year is a bit too much. I had been with Virgin Money and they are not one of the finance companies you want to deal with. They do every bit to rip you off. Hidden charged and misleading advertisement are there stron points. Rather go for HSBC 0% for 6 months and no annual fees for life time - http://www.hsbc.com.au/1/2/btoffer?r=by&WT.mc_id=AUH_hcceoby…

  Over the years I have been shifting my debt from one credit card company to another and in my experience you should be calculating the cost until the end of the last payment due and further on in some cases.

  To sum it up not a deal there when compared to other financial institutions and even if there is something to take think twice and do your homework in full before dealing with Virgin Money (far to may if's and but's)

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  gadgetguy on 01/08/2013 - 15:07

  All these people quoting the fee, you are missing the point of this card - 4 free flights!

  Saved me over $600 last year…

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  Holysmoke on 03/08/2013 - 13:16

  Actually just found two offers with interest free balance transfers AND purchases:

  Citibank Clear Platinum
  * A low introductory rate of 0% for six months on balance transfers, and up to six months on purchases and cash advances. After the introductory period standard variable interest rates will apply and any unpaid balance transfer amount will revert to the cash advance rate1.
  * Half price annual fee of $49 in your first year2 (usually $99).

  BOQ Low Rate Visa Card
  * 0% p.a. on purchases and balances transferred for a period of 4 months. Balances transferred up to 80% of your credit limit and will revert to the cash advance rate thereafter.
  * $55 Annual Fee