Virgin Credit Card
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.
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[edit] History
[edit] United Kingdom
The Virgin Credit Card launched in the UK in January 2002, issued by MBNA Europe Bank 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 A range of card designs were initially offered including snakeskin and have subsequently been replaced by Virgin Red, Cool Black and Pretty Pink.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.[1]
The Standard Virgin Money card offers discounts across the Virgin Group, with the notable exception of discounts on Virgin Atlantic flights.
[edit] 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The Virgin Credit Card was withdrawn from sale in Australia as of 3 April 2008 after the 5-year agreement with Westpac came to an end.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 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.
[edit] References
- ^ Virgin Atlantic MBNA American Express card from MBNA Virgin Money
2. http://www.credit-card-application.org.uk/article/what-you-should-know-about-virgin-credit-cards/ Virgin Credit Card Benefits & Facts
[edit] External links
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