Virgin credit card
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Virgin credit cards are one of a number of financial services offered by Virgin Money. Virgin's foray into the banking world began in 1995 when they began selling Personal Equity Plans in the UK. Business was soon booming and today Virgin are one of Britain 's leading finance companies. Virgin went global in 2003 by opening financial operations in Australia and they clearly have their sights set high. Much of Virgin's success is due to their 'no-nonsense' approach to finance and the promise of good value, clarity and straightforward access to accounts and information. As they say 'no funny stuff, just money stuff'. The question is can they live up to their own hype?
Virgin credit cards main selling point is their flexibility. They offer you a wide variety of APR rates and other benefits. There is a high degree of customer 'tailoring' available and you can customise your card to reflect your individual demands. For example: if you have a large balance to transfer you can choose a card with a low transfer rate but a higher APR. On the other hand; if you have a small amount of money to transfer you will be better off choosing a card with a lower APR.
With a choice of four credit cards and numerous APRs customers might feel daunted by all the available options. In a bid to quash any concerns Virgin has developed a user-friendly online wizard which will do all the hard work for you; simply key in your spending habits and you'll be recommended the best card for your needs. Once you have chosen your card you can select one of five designs (although they are all fairly similar to the untrained eye). All the cards offer no annual fee, up to £50,000 credit, telephone banking and an Internet account. In addition they include fraud protection, purchase protection and a degree of travel insurance. Arguably one of their most attractive incentives is a reward scheme which allows you to accrue points that you can spend in an exclusive 'members only' shop that sells CDs and DVD's among other things.
Anyone opting out of the reward system can still use the members shop and purchase discounted products with cash. In summary: if flexibility is your thing, then Virgin may well be your best bet. However, before you sign on the dotted line it's a good idea to spend some time shopping around.
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