0% balance transfer
• Moves an amount from an existing credit card provider on your Virgin Money credit card.
• Typically sits at 0% interest for a pre-defined fixed length of time with no flexibility in the term length. A 0% balance transfer will include a transfer fee as an initial charge that is added to the total credit card balance.
• Payments on a 0% balance transfer are not calculated to ensure the balance is paid off before the 0% rate ends. That means, at the end of the 0% rate term, any remaining balance is moved to your standard balance transfer rate and you might have to pay interest.
Instalment plan balance transfer
• Moves an amount from an existing credit card provider on your Virgin Money credit card.
• An instalment plan balance transfer sits at 0% interest. You can choose the length of term you wish to spread the cost over. There is no interest to pay, just a fixed monthly fee that is spread across the term rather than upfront.
• You can cancel your balance transfer instalment plan at any point and you won't be charged ongoing fees. Any remaining instalment plan balance will be moved into your standard credit card balance, and you will pay interest on the balance at your standard rate for balance transfers.