Virgin Money zeroes in on balance transfers and purchases

Virgin Money is further strengthening its market-leading credit card range with the launch of a card offering 0% for 12 months on card purchases and balance transfers (2.98% fee applies to balance transfers).

The card is now available to all potential applicants following a highly successful two-week exclusive promotion through the UK's number one comparison website moneysupermarket.com. As well as being available directly from Virgin, the card will continue to be offered through moneysupermarket.com.

The new Virgin Money 12/12credit card is among the longest on the market for purchase and balance transfers.

Scott Mowbray, spokesman at Virgin Money, said: "We are committed to expanding in the credit card market and the 12/12 credit card is another major step forward. Customers can use the card to pay down more expensive debt and also to plan spending. Feedback from the exclusive deal through moneysupermarket.com shows the 12/12 card is a popular choice for customers."

Once the introductory period ends the rate reverts to a typical APR of 18.9% (variable). Balance transfers attract a fee of 2.98%.

Peter Harrison, credit card expert at moneysupermarket.com, said: "Not surprisingly, the new Virgin Credit Card has been a real hit with customers who are looking to take advantage of the combined purchase and balance transfer offers. It's the perfect card for everyday use. It is great to see Virgin developing a card with the customer in mind - as it can be used for different purposes, which is what a credit card was originally designed for."

Virgin Money's 16 month 0% balance transfer deal has changed to 14 months 0% for balance transfers with 3 months 0% for card purchases (2.98% fee applies to balance transfers, typical APR is 16.6% (variable)).