Virgin has just released Virgin Money in South Africa. Virgin is a company with an excellent public image, and this is a GREAT thing to happen for numerous reasons, the 4 main reasons being:
Standard Bank
ABSA
Nedbank
FNB
What do I mean by this? Well, these are the major banks in South Africa, and probably 4 of the biggest con-artists, charging customers RIDICULOUS amounts just to gain access to THEIR OWN MONEY!
Anyway, on a more serious note, here are some of the benefits of using Virgin Money (as found on their website):
- You have 25 days in which to pay for anything you’ve bought before you are charged interest
- The interest rate is only 15.75% – as opposed to 17% for ANY other credit cards in the country (South Africa)
- If you have a Credit Balance, you will earn 5% on that money – ALSO the highest Credit Interest Rates on most savings and Investment accounts
- No Annual Credit Card fee
- No fees when you swipe your card
- No Internet Banking fees
So, do YOU think this is worth it??? You can leave a comment below
6 Comments to 
Hi , cool site . I wanted another credit / debit card ( I work at Nedbank ) and liked the idea ofa Virgin credit card . When I looked at the info on the site , I thought that the R30 fee for withdrawing at an ABSA ATM was very expensive . I will check out the fees for a Discovery credit card .
Thanks for the compliment. But, regarding the R30 that Virgin Money charges you, I wouldn’t even bother drawing the money… I draw directly from Standard Bank once a week, if not less, otherwise I transfer money onto my Discovery Credit Card, and swipe that most of the time. You could do the same with the Virgin Credit Card…
[...] In a recent post entitled “Virgin Money in South Africa” I mentioned some of the benefits and features of getting a Virgin Money Credit Card. Well, Mr Branson and his Virgins are still taking over South Africa. And it seems like a good thing. [...]
Richard Branson is a legend and a true entrepreneur.
I Have a Virgin Credit Card and I am Loving it… I feel the need to cancel my other credit card and just have the Virgin Card.
Darren Drake
Do you offer the free transfer of your current credit card balance to Virgin Credit on applying?
I’m afraid you’ll have to go ask Virgin Money that question… Take a look at this site: http://www.virginmoney.co.za/vmsa/