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Virgin launches 12-month 0% purchases card

Interest-free deal is good but service is poor

Virgin money logo

Virgin Money has launched a new credit card deal on its MasterCard offering 12 months interest-free on both purchases and balance transfers.

Purchases made on the card attract no interest for the first 12 months, after which they revert to the card’s standard APR, currently 18.9%. Balance transfers made within the first 60 days are also charged at 0% for 12 months, with a balance transfer fee of 2.98%.

If you’re only looking for a balance transfer offer, Virgin currently has an alternative 14-month 0% deal. The standard APR on purchases on this card is 16.6%.

Spread the cost 

Which? credit card expert Martyn Saville commented: ‘If you’re planning a large purchase, the new card could offer a great way to spread the cost, interest-free, over 12 months.

‘Traditionally it was never wise to use the same credit card for both balance transfers and new purchases, due to the negative order of payments used by most providers, including Virgin. However, as the 0% deal for both purchases and balance transfers is the same at 12 months, you can safely use this card for both, but only if you pay off both balances in full before the 0% deal runs out. After 12 months the APR goes up to a very uncompetitive 18.9%.

‘Make sure you choose the correct card though, as the credit card offering 14 months on 0% balance transfers is not at all competitive for purchases.

‘And if good customer service is important to you, you may want to give Virgin Money a wide berth as it scores a poor 56% on our customer satisfaction survey, a long way behind the market leader, John Lewis/Waitrose, on an impressive 88%.’

Which? Best Buy credit cards

If you need advice to choose the best credit card for your needs, read the free Which? guide to choosing a credit card. And if customer service is important to you, make sure you check our Which? Recommended Providers before choosing a card.

Once you know the best type of card for you, check out Which? Best Rate credit cards to find the most competitive deal available today, whether it’s a cashback card, a card offering 0% on purchases or the longest 0% deal on balance transfers.

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