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Review: The Virgin Money Travel Credit Card – save money abroad due to 0% FX fees

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This is my review of the Virgin Money Travel Mastercard credit card.

All miles and points credit cards charge a 3% foreign exchange fee.  Even if your card offers bonus points for spending outside the UK – the American Express Preferred Rewards Gold offers double points, for example – they are still not worth 3%.

EDIT:  This card was withdrawn in Spring 2020 and is no longer available

Of course, if you are travelling on business and your employer is paying you back then you might prefer a credit card with a good bonus for foreign spend even with a 3% fee.  This article looks at the best credit card bonuses for foreign spend.

It makes sense to carry a separate credit card without FX fees to use when travelling.  In this article we take a look at the FREE Virgin Money Travel Mastercard credit card.

Virgin Money Travel Credit Card review

Key link: Virgin Money Travel Mastercard application form

Key facts: No annual fee, 0% interest on purchases for 12 months, 0% interest on balance transfers for 12 months (2% fee), 0% interest on money transfers for 12 months (4% fee)

The representative APR is 21.9% variable.

About the card

The Virgin Money Travel Credit Card – issued by Virgin Money – is issued as a Mastercard which means it is widely accepted globally.

The key benefit is that there are no foreign exchange fees on overseas purchases.  You will, however, pay a 3% fee on any cash withdrawals you make on the card, either in the UK or abroad, so it is not completely free of charge when used overseas.

Any other benefits?

Yes, this card is not a one-trick pony.  Additional card benefits include:

  • Unlimited free access to Virgin Money lounges across the UK
  • Free global wi-fi access via Boingo
  • 0% interest for 12 months on balance transfers
  • 0% interest on purchases for 12 months
  • 0% interest for 12 months on money transfers

The lounge benefit is an interesting one if you live in the rights part of Britain.  I often used the one on Piccadilly to work and it was a pleasant place to hang out – here is our review of the old Virgin Money London lounge.  This lounge is now closed and has relocated to Haymarket, just around the corner.

Is there an annual fee?

No

Is this a good card to use when travelling?

Yes.

The Virgin Money Travel Credit Card charges no foreign exchange fees and you pay 0% interest on purchases for the first 12 months of card membership.

Conclusion

The Virgin Money Travel Mastercard credit card is a good choice for an FX fee-free credit card to use abroad.  It is a simple package with no annual fee and the ability to pick your own card design from a number of interesting options.

And depending on where you live, you’ll be able to pop into a Virgin Money lounge every time you go shopping to get a free cup of tea or coffee and a biscuit.

The application form for the Virgin Money Travel Mastercard credit card can be found here.


Want to earn more points from credit cards? – March 2024 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Virgin Atlantic Reward+ Mastercard

15,000 bonus points and 1.5 points for every £1 you spend Read our full review

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers:

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

American Express Business Platinum

Crazy 120,000 points bonus (to 9th April) and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

Huge 60,000 points sign-up bonus (until 9th April) and free for a year Read our full review

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.

Barclaycard Select Cashback credit card

2% cashback on all your business spend for 3 months (1% thereafter) and no annual fee Read our full review

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