This is my review of the Virgin Money Travel Mastercard credit card.
EDIT: This card was withdrawn in Spring 2020 and is no longer available
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%.
(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.
If you want to check your credit record before applying for a new card, click here to get your free Experian Credit Score.
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?
Is this a good card to use when travelling?
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.
Anything else I need to know?
You can pick the design of your card! During the application process you can choose from a number of images:
I like the cassette:
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.
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.