Virgin Money has revamped its 'all-rounder' credit card, making it the longest 0% purchase credit card on the market.
The Virgin Money All Round Credit Card now offers 24 months of 0% interest on purchases, as well as two years of 0% interest on balance transfers (with a 1% transfer fee) and money transfers (with a 1.9% transfer fee).
On top of all this cardholders also get exclusive offers from the Virgin Group including discounts on Virgin holidays, train tickets and health club membership as well as access to Virgin Lounges across the country.
How it compares
An all-rounder credit card is handy if you only want to use a single piece of plastic for your credit.
For example you might want to spread the cost of new purchases, but also shift existing credit card debt onto a better rate.
However, combining offers may not always get you the best deal - you may be better off going with separate cards. So I’ve taken a look at how Virgin Money’s trio of offers stack up to see if the All Round card is worth going for.
0% purchases
Here are the cards offering the longest lasting 0% period on purchases.
|
Credit card |
0% purchase period |
Representative APR |
|
24 months |
18.9% |
|
|
23 months |
16.5% |
|
|
Halifax Purchase Credit Card |
21 months |
18.9% |
|
21 months |
18.9% |
|
|
20 months |
18.9% |
|
|
20 months |
18.9% |
|
|
20 months |
18.9% |
*£24 annual card fee
As you can see the Virgin Money All Round Card is the best card to go for if you want the longest lasting interest-free period on your new purchases, regardless of what else it offers.
Low-fee 0% balance transfers
As the Virgin Money All Round Card offers a low-fee balance transfer, here is how others with fees of 1% or under compare, sorted by length of the 0% period on offer.
|
Credit card |
0% balance transfer period |
0% balance transfer fee |
Representative APR |
|
24 months |
1% |
18.9% |
|
|
23 months |
None |
16.5% |
|
|
19 months |
1% |
18.9% |
|
|
19 months |
1% |
18.9% |
|
|
19 months |
1% |
18.9% |
|
|
18 months |
None |
18.9% |
|
|
18 months |
None |
18.9% |
|
|
18 months |
None |
17.8% |
*£24 annual card fee
As you can see the Virgin Money All Round Card isn’t the cheapest balance transfer card you can go for. You could pay no fee at all with Santander for example and enjoy 23 months of 0% interest, though there is an annual fee to consider.
But those that want the longest lasting balance transfer deal should look elsewhere. You can get 36 months 0% on balance transfers from Barclaycard, Halifax , Virgin Money, Bank of Scotland and Lloyds Bank at the moment, but the fees to transfer are much higher.
Read The best 0% balance transfer credit cards for more.
0% money transfers
Finally here is how the Virgin Money All Round Card compares on 0% money transfers.
|
Credit card |
0% money transfer period |
0% money transfer fee |
Representative APR |
|
MBNA Platinum Credit Card |
36 months |
2.99% |
18.9% |
|
36 months |
4% |
18.9% |
|
|
34 months |
4% |
18.9% |
|
|
32 months |
4% |
18.9% |
|
|
26 months |
4% |
18.9% |
|
|
MBNA Platinum Credit Card |
24 months |
1.7% |
18.9% |
|
24 months |
1.9% |
18.9% |
|
|
24 months |
3.99% |
18.9% |
As you can see the Virgin Money All Round Credit Card offers the second-cheapest 0% money transfer deal after the MBNA Platinum Credit card, which isn’t bad going considering what else it has to offer.
[SPOTLIGHT]However, there are deals which last much longer at 36 months, which might be better for your situation.
All round goodness?
With the Virgin Money All Round Credit Card you’ll get a market-leading offer on 0% purchases, as well as very competitive deals on 0% balance transfers and money transfers.
However, if you’re set on getting the longest lasting or cheapest 0% balance or money transfer, you should think about opting for separate cards.
What you see is what you get
Credit card providers only have to give 51% of those that apply their headline rates, leaving the rest on a worse deal.
But Virgin Money says it will ensure that all successful applicants receive the promotional rates and durations they apply for.
So as there is no risk-based pricing, if approved you won’t be offered shorter balance transfer periods or higher interest rates.