Make money manageable with a balance transfer credit card

With a balance transfer credit card, you move whatever is on your credit cards or loans over to one place: a new Virgin Money balance transfer credit card that offers 0% interest for up to 24 months.1 Save on interest charges and keep more money in your pocket. 

 

Our latest balance transfer offers

Check out our latest balance transfer offers across our range of credit cards.

Offer 1: 0% p.a. for 24 months balance transfer offer

Balance Transfer offer

Virgin Australia Velocity Flyer Card
  • Card details
    Annual Fee $0 for the first year, then $149.39
    Balance Transfer Rate1 0% p.a. for up to 24 months. Reverts to cash advance rate.
    You will be charged interest on retail purchases while you have a balance transfer.
    Interest Free Days8 Up to 55 days on retail purchases
    You will be charged interest on retail purchases while you have a balance transfer.
    Purchase Rate 20.74% p.a.
    Cash Advance Rate 20.99% p.a.
    Points Earn10

    Earn 0.66 Velocity Points per $1 spent on Eligible Transactions up to $1,500 each statement period, 0.5 Points per $1 spent thereafter.

    Earn 1 extra Velocity Point for every $1 spent directly with Virgin Australia.41

    Flight Benefit $129 Virgin Australia Gift Voucher, each year17, when you make a retail purchase in the 2 months prior to requesting the voucher.
    Visa Privileges15 Visa Platinum
    Minimum Credit Limit $6,000
    Minimum Income $35,000

    You must pay your balance in full each month (including balances transferred) to receive interest free days.

    More about rates and fees

    More about balance transfers

Offer 2: 0% p.a. interest for 15 months balance transfer offer

Balance Transfer offer

Virgin Australia Low Rate Card

  • Card details
    Annual Fee $99
    Balance Transfer Rate1 0% p.a. for 15 months on balance transfers.1
    Reverts to cash advance rate. Please note, you will be charged interest on retail purchases while you have a balance transfer.
    Interest Free Days8 Up to 55 days on retail purchases
    Please note, you will be charged interest on retail purchases while you have a balance transfer.
    Purchase Rate 12.99% p.a.
    Cash Advance Rate 21.69% p.a.
    Minimum Credit Limit $2,000
    Minimum Income $35,000

    More about rates and fees


Offer 3: 0% p.a. for 12 months balance transfer offer

Balance Transfer offer

Virgin Money Anytime Rewards Credit Card

  • Card details
    Annual Fee $149
    Balance Transfer Rate1 0% p.a. for 12 months. 
    Reverts to cash advance rate. You will be charged interest on retail purchases while you have a balance transfer.
    Interest Free Days8 Up to 55 days on retail purchases.
    You will be charged interest on retail purchases while you have a balance transfer.
    Purchase Rate 19.99% p.a.
    Cash Advance Rate 20.99% p.a.
    Points Earn29 1 Virgin Money Point per $1 spent on Eligible Transactions, uncapped.
    Bonus Points Receive 80,000 bonus Virgin Money Points13 when you spend $3,000 or more on eligible purchases in your first 3 months from card approval. 
    Visa Privileges15 Visa Platinum
    Minimum Credit Limit $6,000
    Minimum Income $35,000

    You must pay your balance in full each month (including balances transferred) to receive interest free days.

    More about rates and fees More about balance transfers

 

Why choose Virgin Money? 

Earn Virgin Money Points

Get reward points and have the flexibility to redeem them on things like cashback, gift cards, transfers to Velocity Frequent Flyer Points, travel with Virgin Australia, red hot partner offers and many more rewards.

Use the smart Virgin Money app

The Virgin Money app keeps you in the know, with a spend tracker, alerts and clever insights into your credit card spend – and more.

Consolidate your payments

Simplify your debts into one manageable account – this can make it much easier to get your finances in order, faster.

Enjoy our latest offers

Enjoy savings on balance transfer interest with our Virgin Money Anytime Rewards Credit Card (or choose from our other balance transfer credit card offers).

Simplify your admin

Ahh, isn’t it nice to have your banking and your credit cards in one place? We make admin simple, so you can focus on the fun stuff.

Get transparent terms

We believe in clarity, which means no hidden fees or surprises.

 

Want to chat?

Call us
Call us on 13 37 39
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Monday to Friday: 8am - 8pm AEST Saturday: 9am – 5pm AEST

FAQs

Let’s see if we can answer some of our most popular questions for you now.

  • How can I get the most out of my balance transfer?

    Just getting a balance transfer isn’t the end of the story. Here’s how to get the most out of your balance transfer:

    • Consider making additional payments (more than the minimum payment due) throughout the promotional period to reduce the amount you owe.
    • Pay the outstanding balance prior to the end of the balance transfer promotional period. Any outstanding balances that were transferred will revert to the annual percentage rate for cash advances at the end of the promotional period.
    • Track any additional retail purchases on your credit card, which will not qualify for interest free days while you have a balance transfer.
    • Close other credit cards and loan accounts once they have been repaid. (More on that below).
  • What happens to my old credit card after a balance transfer?

    You might be wondering: does a balance transfer close the old card? No, you’ll have to do that yourself. You may want to consider closing your old credit card to get the maximum benefit out of your balance transfer. This is because it may:

    • Help reduce the total amount of account fees and charges associated with those accounts
    • Simplify your finances by decreasing the number of cards you hold
    • Reduce your ability to accrue additional debt, by decreasing the available credit options
    • Potentially increase your credit rating by reducing the amount of unsecured debt recorded against your credit bureau record.
  • Do I get charged interest on a balance transfer?

    Here’s a snapshot of the interest charges that may apply once a balance transfer is processed on your Virgin Money Credit Card :

    • Balances transferred to your account will be charged interest at the promotional rate as per the balance transfer offer and time period you accepted.
    • It’s important to note that you will be charged interest on retail purchases while you have a balance transfer. This means any additional purchases will be charged interest at the annual percentage rate for retail purchases.
    • At the end of the balance transfer period, the interest rate on any outstanding transferred balance and balance transfer fee will revert to the annual percentage rate for cash advances.

    Let’s put some figures to it as an example. If your balance transfer rate is 0% p.a. for 12 months, during those 12 months all additional purchases will be charged interest at the annual percentage rate for retail purchases. At the end of the 12 months, any outstanding balances from the balance transfer will revert to the annual percentage rate for cash advances.

  • If I have balance transfers at different rates, which one does my credit card payments get applied to first?

    Any payments you make will be allocated in the following order:

    • Monthly instalment(s) for fixed payment options due in the current statement period (if applicable).
    • The portion of the closing balance of your most recent statement that attracts the highest interest rate.
    • The portion of your closing balance which attracts the next highest interest rate (and so on)
    • Balances that have not yet been billed.
  • What is a balance transfer fee and how is it calculated?

    A balance transfer fee can be applicable on some promotional offers. This fee is calculated as a percentage of the total amount being transferred and is added to the balance transfer amount.

    Here’s an example. A balance transfer amount of $10,000 with a 2% balance transfer fee will be charged a balance transfer fee of $200. The outstanding balance of your Virgin Money Credit Card  will be $10,200.

    At the end of the balance transfer period, the interest rate on any outstanding transferred balance and the balance transfer fee will revert to the applicable annual percentage rate for cash advances.

    Make sure you take this fee into account when you're working out your repayments, as well as how much the balance transfer deal will really cost you. Balance transfer fees will be clearly stated in the offer details, so remember to read them and the terms and conditions carefully.

  • Is there a limit on balance transfers?

    You might be wondering: how much can I transfer to a balance transfer card? On Virgin Money Credit Cards , the minimum amount you can transfer is $500 and your total balance transfer may not exceed 80% of your credit limit the day the balance transfer is completed.

  • What debts cannot be included in a balance transfer?

    You can’t include the following in a balance transfer:

    • account balances from financial institutions or stores outside of Australia
    • amounts greater than your available credit limit and/or greater than 80% of the credit limit of your Virgin Money Credit Card.
  • What type of balances can I transfer?

    You can apply for a balance transfer with a Virgin Money Credit Card  and transfer any credit account balances with other financial institutions, such as:

    • Visa, MasterCard and American Express (all banks)
    • personal loans
    • lines of credit.
  • How to apply for a balance transfer?

    You can apply for a balance transfer during the application process for a new Virgin Money Credit Card . Existing customers can call 13 37 39 to discuss options should you wish to transfer a balance from another financial institution.

    It's important to know that the credit account balance you want to transfer must be in the name of the Virgin Money Credit Card primary account holder.

    If you didn't request a balance transfer when you applied for your card, you can still apply by giving us a call on 13 37 39. Any special offer rates are available for 90 days after your card is approved. If you’d like to request a balance transfer after that time please give us a call on 13 37 39 to see what rates we can offer you or check out the Offers section of your online account to see what may be available.

  • How long does it take for a credit card balance transfer?

    You should allow additional time for the funds to be received by the other financial institution, however, please ensure you continue your payment obligations with the other financial institution while the balance transfer is being processed. You can monitor your account online to check if the balance transfer has appeared on your account.