Balance transfer calculator

See how much you could save in interest with our balance transfer calculator3. Take advantage of one of our balance transfer offers by transferring an existing balance or balances from another provider to your new Virgin Money Credit Card.

* Minimum balance transfer amount is $500 and may not exceed 80% of your credit limit. Balance Transfer amount will revert to cash advance rate. Balance transfer calculations may not reflect the product maximum credit limit. No interest free days apply to retail purchases while you have a balance transfer.

What you could save3 over the promotional period


Virgin Australia Velocity Flyer Card – Balance Transfer & Points offer

0% p.a. for 18 months on balance transfers1 (Reverts to cash advance rate).


No Annual Fee Card

6.9% p.a. for 36 months on balance transfers1. (Reverts to cash advance rate).


Virgin Australia Velocity High Flyer Card

0% p.a. for 15 months on balance transfers1 (reverts to cash advance rate)


Virgin Australia Velocity Flyer Card - Purchase & Balance Transfer offer

0% p.a. for 6 months on balance transfers1 (reverts to cash advance rate)


Low Rate Card

0% p.a. for 14 months on balance transfers1 (reverts to cash advance rate)

What is a credit card balance transfer?

A credit card balance transfer is where you move an existing debt from a credit card, store card or personal loan to your credit card.

When you request a balance transfer with Virgin Money, you are asking your existing debt provider (lender) to move your outstanding debt to your new Virgin Money credit card.

Balance transfers can be used to consolidate and help manage debt obligations. Moving debt to a credit card with a low promotion or introductory interest rate can help reduce the amount of interest payable on the debt.

When considering a balance transfer promotion, it’s easy to focus on the low, or zero, interest rate being offered however don’t forget to consider the other features of the card and any applicable terms and conditions of the promotion.

What is a Balance Transfer fee?

Virgin Money doesn't charge any Balance Transfer fees currently, but it’s a good idea to keep this in mind when considering taking out a Balance Transfer. A balance transfer fee (BT fee) is a fee charged to you to transfer an existing balance from one credit provider to another. This fee is often a percentage of the amount you are transferring and is usually added to the balance on the new card.

For example, if the BT fee is 2% and the balance transferred is $500, the BT fee payable would be $10.

Make sure you take this fee into account when you're working out your repayments as well as how much the balance transfer deal will really cost you. BT fees will be clearly stated in the offer details so remember to read them carefully as well as the terms and conditions.

What types of balances can be transferred?

When you apply for a new Virgin Credit Card, you can apply for a balance transfer. Any credit account balances with other financial institutions/stores, such as:

  • Visa and MasterCard (all banks)
  • Most store cards (e.g. David Jones and Myer)
  • Personal Loans
  • Lines of credit

Are there minimum and maximum amounts I can balance transfer?

On Virgin Money credit cards, the minimum amount you can transfer is $500 and your total balance transfer may not exceed 80% of your maximum available credit limit the day the balance transfer is completed.

How do I make a balance transfer?

You can apply for a balance transfer during the application process for a new Virgin Money credit card. Existing customers can call 13 37 39 to discuss options should you wish to transfer a balance from another card provider after you have already applied for a card.

It's important to know that the credit account you want to transfer must be in the name of the Virgin Credit Card primary account holder.