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New Virgin ad announces entry to mainstream banking

Posted in 'Banking' by Barry Stamp

09 January 2012

Virgin's new glossy TV ad - showcasing space flight, Virgin trains, Virgin planes and the obligatory Virgin hot air balloon - is announcing its entry into the mainstream banking market and hints at a promise of new standards of service and innovation.

Certainly if the Virgin Credit Card is anything to go by, we can depend on Sir Richard and his team to deliver. The Virgin card has one of the lowest interest rates on offer on the market today at 16.8% APR - and with a 67% customer satisfaction rating from our Banking and Credit Card Survey - it is also highly rated by customers. A 20 month 0% balance transfer facility - with a 2.99% fee - is also very competitive.

Virgin also has a card in the 'Black' end of the market that offers a free companion fare on Virgin once spending exceeds a certain level. The Virgin Atlantic Black card costs £140 a year and has a hefty APR of 47.2%, but is not intented to be used for extended credit. Instead it is aimed at travellers (or would be flyers) who pay their cards in full every month.

We can't wait to see what their banking service offers the great British public.