Now you can lock in a lower fixed rate on your credit card from a range of available terms. You can take advantage of a Fixed Payment Option in two ways:
Choose to convert up to 5 retail purchases of $500 or more to a single Fixed Payment Option before they are billed to your monthly statement. This allows your purchase to be repaid at a lower interest rate over a range of available terms, in fixed Monthly Instalments, allowing you to have budget certainty provided repayments are met.
Missed Monthly Instalments will be charged the standard Annual Percentage Rate applicable to your account.
To find out whether there is a Fixed Payment Option offer currently available to you as well as the available interest rate, sign in to Virgin Money Online and go to: Rewards & Offers > My Offers.
Please note this offer is subject to eligibility criteria and Terms & Conditions apply.
Enjoy the things you want now and lock in a lower interest rate - what's not to love? Fund that special holiday or purchase using your available credit limit. As you repay the amount, your credit becomes available again to use for the next dream on your list.
Don’t let those large purchases linger around forever. By selecting from a range of available terms, you can set the repayment amount that suits you and pay it off in fixed Monthly Instalments. Plus, you get the added benefit of a lower interest rate too!
Thanks to a lower interest rate, you have the potential to save on the monthly interest that you would normally pay*. Plus, the fixed Monthly Instalment is rolled into the Minimum Payment Due and easily tracked on a separate section on your statement.
You can still enjoy up to 44 days interest free on your other purchases made outside the Fixed Payment Option when you continue to pay your closing balance off in full, less the total Fixed Payment Option outstanding, each statement period~.
It’s easy to set up a Fixed Payment Option. Sign in to your Virgin Money Online account at my.virginmoney.com.au then go to: Rewards & Offers > My Offers.
Here you can find out if you’re eligible and have a Fixed Payment Option on offer, including the available interest rate.
Enter your preferred repayment term
To see if you're eligible and have a Fixed Payment Option offer, as well as the available interest rate, sign in to your Virgin Money Online account at my.virginmoney.com.au and go to: Rewards & Offers > My Offers. The Fixed Payment Option is subject to eligibility, account status, and available credit limit. Missed Monthly Instalments will be charged at the standard Annual Percentage Rate applicable to your account. For the full terms and conditions, please see the Credit Card Terms and Conditions and Other Important Information available at virginmoney.com.au/forms.
*Savings assumes that you are or will be incurring interest at the Annual Percentage Rate on any retail purchases before they are converted to a Fixed Payment Option or that you would incur an interest rate which is higher than the Fixed Payment Option rate for any cash requested. The savings also assumes that once the Fixed Payment Option has been setup, you pay the Monthly Instalments by the payment due date each month.
~The maximum 44 days interest free period applies when you pay your closing balance off in full, less any Fixed Payment Option amount, for two consecutive months by the payment due date. If you carry a balance on your credit card from month to month (exclusive of the Fixed Payment Option amount), the 44 days interest free period does not apply and you are charged interest from the purchase date. No interest free period is available on Cash Advances or when you have Balance Transfers.