Virgin Money Everyday Cashback Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
- Earn rate
- 1p per £4 spent
- Foreign transaction charge
- 0%
- Account fee
- £0
Our verdict
Earn 0.5% cashback on your purchases with Virgin Money's Everyday Cashback credit card, plus enjoy no annual fees.
The Virgin Money Everyday Cashback Credit Card could be a good option if you’re after a cashback credit card that has no annual or monthly fee.
You earn 0.25% cashback on every £1 you spend with this card, up to a maximum of £15 per month.
There are other credit cards on the market with higher ongoing cashback rates, but those cards tend to come with an annual fee, or the monthly cashback is capped at around £15 anyway.
With this Virgin Money card, you could also earn an extra 15% cashback when you shop at selected retailers. You’ll need to register using the Virgin Money credit card app to see all those offers, and the £15 monthly cashback cap still applies.
A nice perk with this card is that you can also earn cashback on purchases you make abroad, and you won’t pay any foreign exchange fees on your overseas spending.
Once you’ve earned yourself some cashback you have the option to transfer it into your current account, pay it to your Virgin Money Credit Card to reduce your balance, or trade it for an e-gift card to use at participating retailers.
You can have additional cardholders with the Virgin Money Everyday Cashback Credit Card, and their purchases will also earn cashback. However, the £15 monthly cashback cap covers all cardholders within the same card account (so you don’t each get a £15 allowance), plus the cashback total will go to the main cardholder at the end of the month.
Pros
-
Earn up to £15 per month cashback
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Get cashback on overseas spending
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No foreign exchange fees on purchases made abroad
-
Can have additional cardholders
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No annual card fee
Cons
-
Higher cashback rates are available with some other cards (though they tend to have an annual fee)
-
You’ll need to register in the app to see the extra cashback offers
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You don’t get an additional £15 cashback allowance if you have an additional cardholder
Details
Product Overview
| Issuer | Clydesdale Bank |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 24.9% |
| Balance transfer fee | 0% |
| Purchases | 24.9% |
| Purchases interest-free period | Up to 50 days |
| Money transfers | 24.9% |
| Cash advances | 29.9% |
| Minimum credit limit | £0 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Additional Rewards Info | Enjoy exclusive offers and rewards on the Virgin Red app. Customers choosing a Man Utd card design will benefit from the United Reward scheme where each month customers can win a range of prizes including: matchday tickets, signed replica t-shirts, hospitality tickets and other exciting prizes. Earn up to 15% cashback with Virgin Money Cashback at selected major retailers through the app (offers allocated automatically). |
| Cashback details | 0.25% on £1 to £6000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Bank Account. Earn up to 15% cashback on participating Retailers, registration via mobile app required. |
| Potential costs | 4.0 ★★★★★ |
| Doing its job | 2.5 ★★★★★ |
| Extras | 4.2 ★★★★★ |
| Overall Finder Score | 3.5 ★★★★★ |
Fees and charges
| Minimum monthly payment | 2% or £25 (whichever is greater) or 2 times the month's interest plus 2 times default charges due. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 0% |
| Money transfer fee | 5% |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 5% (min. £0) |
| Late payment fee | £12 |
| Replacement card fee | £0 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Availability | Available to new customers |
The Virgin Money Everyday Cashback Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
How does it compare?
Virgin Money's card
Other popular cashback deals
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Virgin Money Everyday Cashback Credit Card features
- Cashback. Get 0.25% cashback on all purchases, plus an additional 15% at select retailers, and earn up to £15 in cashback each month.
- Add additional cardholders. You have the option to add additional cardholders, allowing family members or trusted friends to benefit from the same account and manage expenses collectively.
- No FX fees. Enjoy no foreign exchange fees on overseas spending, allowing you to make purchases abroad without extra charges and get the most out of your travel budget.
- Mastercard. This credit card is a Mastercard, which is accepted in more than 100 million places worldwide
- Manage your account via an app. Easily manage your credit card account with the Virgin Money Credit Card app.
"The Virgin Money Everyday Cashback Credit Card offers a decent ongoing cashback rate for a card with no annual fee. You can earn up to a maximum of £15 per month in cashback, so it’s worth checking out the extra 15% cashback offers via the Virgin Money Credit Card app."
Repayment options
You can make manual repayments through Virgin Money's app by logging in to your online banking or over the phone (0800 389 2875). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
How to apply
If you've compared cards and settled on the Virgin Money Everyday Cashback Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
Frequently asked questions
Can I withdraw cash using the Virgin Money Everyday Cashback Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Virgin Money Everyday Cashback Credit Card is 5%.
The interest rate on this part of your balance will be 29.9%, which is 20% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 50 days interest-free" grace period won't apply).
How much does it cost to use the Virgin Money Everyday Cashback Credit Card abroad?
Non-sterling transactions are subject to a 0% charge. For example, if you spend 200 euros (£164.83), it'll cost you around £0.00 in fees.
What is the minimum payment on the Virgin Money Everyday Cashback Credit Card?
Each month, you must pay at least 2% of your balance at that point or £25.00 – whichever of the 2 figures is greater. So if you had, say, £1,225.00 outstanding, you'd pay £25.00, and if you had £5,000.00 outstanding, you'd pay £100.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.
Can I request an additional Virgin Money Everyday Cashback Credit Card?
Yes, in fact, you can request up to 3 more. There's no fee for additional cards. Plus, with additional cards, you could earn cashback at a faster rate. Bear in mind that card debt accrued by additional cardholders is the sole responsibility of the account holder – not the additional cardholder.
Finder credit card scores
Our experts score cashback credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any limits or restrictions to earning cashback, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
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