Virgin Credit Card
Encyclopedia
Virgin Credit Card is a brand of credit card launched by Sir Richard Branson's
Virgin Group
and is available in South Africa
and the United Kingdom
through Virgin Money
.
based in Chester
. A range of card designs were initially offered including snakeskin and have subsequently been replaced by Virgin Red, Cool Black and Pretty Pink. Different cards are available with different offers including special balance transfer rates.
Currently the card is marketed predominantly on the basis of its promotional balance transfer period. Cardholders must be UK residents, aged 18 or over and have a UK bank account to qualify for the card.
A Virgin Atlantic branded American Express
card is also available earning loyalty points with the airline's Flying Club.
The Standard Virgin Money card offers discounts across the Virgin Group, with the notable exception of discounts on Virgin Atlantic flights.
The card was Australia’s first no annual fee credit card. The card was marketed as a cheaper option to most other credit cards with up to 55 interest-free days and an interest rate of 12.99% (April 2007). Customers were entitled to offers through the credit card’s ‘Mates rates’ scheme, which included offers from other Virgin companies in Australia such as Virgin Blue, Virgin Mobile and Virgin Atlantic. A comprehensive restaurant discount scheme, operated by the Entertainment Book company, was also available.
The Virgin Credit Card was withdrawn from sale in Australia as of 3 April 2008 after the 5-year agreement with Westpac came to an end. Customers could continue to use their cards as normal, but no new Virgin credit cards could be issued. When a customer’s card expired, they were transitioned to the ‘Ignite’ card by Westpac.
Virgin Money continues to offer financial products in Australia, launching Virgin Superannuation
in 2005 and Virgin Car Insurance in 2009. Virgin Money Australia also signed a strategic alliance with Citibank in 2009, with the view to launch new personal finance products from mid-2010.
The Virgin Credit Card has been relaunched in Australia on the 27th of July 2010 with 2 new cards the Flyer Credit Card and the No annual Fee Credit Card.
Richard Branson
Sir Richard Charles Nicholas Branson is an English business magnate, best known for his Virgin Group of more than 400 companies....
Virgin Group
Virgin Group
Virgin Group Limited is a British branded venture capital conglomerate organisation founded by business tycoon Richard Branson. The core business areas are travel, entertainment and lifestyle. Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding...
and is available in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
through Virgin Money
Virgin Money
Virgin Money is a UK-based financial services company owned by the Virgin Group and founded by Sir Richard Branson in March 1995. It was originally known as Virgin Direct, and pioneered index tracking by launching a value Personal Equity Plan into the market. In the 2000s Virgin Money expanded its...
.
United Kingdom
The Virgin Credit Card launched in the UK in January 2002, issued by MBNA Europe BankMBNA
MBNA Corporation was a bank holding company and parent company of wholly owned subsidiary MBNA America Bank, N.A., headquartered in Wilmington, Delaware, prior to being acquired by Bank of America in 2006...
based in Chester
Chester
Chester is a city in Cheshire, England. Lying on the River Dee, close to the border with Wales, it is home to 77,040 inhabitants, and is the largest and most populous settlement of the wider unitary authority area of Cheshire West and Chester, which had a population of 328,100 according to the...
. A range of card designs were initially offered including snakeskin and have subsequently been replaced by Virgin Red, Cool Black and Pretty Pink. Different cards are available with different offers including special balance transfer rates.
Currently the card is marketed predominantly on the basis of its promotional balance transfer period. Cardholders must be UK residents, aged 18 or over and have a UK bank account to qualify for the card.
A Virgin Atlantic branded American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
card is also available earning loyalty points with the airline's Flying Club.
The Standard Virgin Money card offers discounts across the Virgin Group, with the notable exception of discounts on Virgin Atlantic flights.
Australia
The Virgin Credit Card was launched in Australia in May 2003. Virgin Money signed a 5-year agreement with Westpac and Mastercard to manage the transactions.The card was Australia’s first no annual fee credit card. The card was marketed as a cheaper option to most other credit cards with up to 55 interest-free days and an interest rate of 12.99% (April 2007). Customers were entitled to offers through the credit card’s ‘Mates rates’ scheme, which included offers from other Virgin companies in Australia such as Virgin Blue, Virgin Mobile and Virgin Atlantic. A comprehensive restaurant discount scheme, operated by the Entertainment Book company, was also available.
The Virgin Credit Card was withdrawn from sale in Australia as of 3 April 2008 after the 5-year agreement with Westpac came to an end. Customers could continue to use their cards as normal, but no new Virgin credit cards could be issued. When a customer’s card expired, they were transitioned to the ‘Ignite’ card by Westpac.
Virgin Money continues to offer financial products in Australia, launching Virgin Superannuation
Virgin Superannuation
Virgin Superannuation is a superannuation, or pension fund, offered by Virgin subsidiary Virgin Money.-In Australia:Virgin Super launched in 2005 under the Virgin Money Australia brand...
in 2005 and Virgin Car Insurance in 2009. Virgin Money Australia also signed a strategic alliance with Citibank in 2009, with the view to launch new personal finance products from mid-2010.
The Virgin Credit Card has been relaunched in Australia on the 27th of July 2010 with 2 new cards the Flyer Credit Card and the No annual Fee Credit Card.