MBNA And Virgin?

We see many UK credit card customers looking for answers to questions related to the relationship between MBNA and Virgin Money.

Some of the most recent questions on this topic have included the following :-

• Are Virgin credit cards MBNA?
• Are Virgin and MBNA the same company?
• Can I balance transfer from MBNA to Virgin?

Virgin MBNA Credit Card

The Virgin MBNA credit card was a UK credit card issued by MBNA, but marketed as a Virgin credit card. The credit card was promoted by Virgin, including to many Virgin Atlantic customers. Any customer applying for the card was actually given a MBNA issued card.

The cards included a number of Virgin balance transfer cards, as well as the Virgin Atlantic MBNA credit card. The branding and marketing alliance for these credit cards, was in place for several years.

The recent takeover of MBNA by Lloyds Banking Group, has resulted in a large number of MBNA issued credit cards being withdrawn. MBNA had previously issued a large number of branded cards for football clubs, airlines, charities and other partners. These cards are now, all no longer available in the UK credit card market.

All Virgin credit cards, in the UK, are now issued by Virgin Money.

Virgin MBNA

This past MBNA Virgin credit card branding and marketing alliance, has lead to some confusion amongst UK card customers.

Many UK customers now know that the credit card companies do not allow balance transfers, between cards that are issued by the same credit card company, or bank.

Virgin credit cards are now promoted by Virgin Money. However in past years, the cards themselves were actually issued by MBNA Bank Europe. As a result, this meant that balance transfers were not allowed between MBNA and Virgin credit cards.

When the branding and marketing alliance ended, Virgin Money transferred over many of the customer accounts. However not all of the card accounts were moved over from MBNA. Customers with older credit card accounts, may need to check the small print in their card terms and conditions, to find out who actually issued their Virgin credit card.

However we do know that all of the following featured credit cards will allow a balance transfer from any MBNA issued credit card. These cards will also allow a balance transfer from Virgin Money credit cards :-

Card Offers

HSBC Balance Transfer*

Balance Transfers:

0% for 29 months

Balance Transfer Fee:

2.75%

Purchases:

0% for 3 months

Representative APR:

21.9% APR (variable)

Card Details

HSBC Balance Transfer*

• 0% interest for 29 months on balance transfers made within first 60 days of account opening
• 2.75% balance transfer fee applies (minimum £5)
• 0% interest on purchases for 3 months from account opening
• At end of promotional period, balance transfers and purchases will revert to standard variable rate
• Worldwide offers and discounts with HSBC home&Away
• Manage your card online
• Annual Fee: None

Application Criteria

HSBC Balance Transfer*

• You have an annual income or pension before tax of £6,800 or more
• You are a UK resident
• You are aged 18 or over
• You do not hold an HSBC Basic bank account

Card Offers

M&S Transfer Plus*

Balance Transfers:

0% for 29 months

Balance Transfer Fee:

2.75%

Purchases:

0% for 3 months

Representative APR:

21.9% APR (variable)

Card Details

M&S Transfer Plus*

• 0% for 29 months on balance transfers made within 90 days of account opening
• 2.75% balance transfer fee, minimum £5
• 0% on purchases for 3 months from account opening
• Collect M&S points every time you shop anywhere in the world with your card
• One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
• Manage account online
• Annual Fee: None

Application Criteria

M&S Transfer Plus*

• You are a UK resident
• You have an annual income or pension of at least £6,800
• You are aged 18 or over
• You have not held a credit card with M&S Bank within the previous 12 months

Card Offers

HSBC Purchase Plus*

Balance Transfers:

0% for 18 months

Balance Transfer Fee:

2.9%

Purchases:

0% for 18 months

Representative APR:

22.9% APR (variable)

Card Details

HSBC Purchase Plus*

• 0% interest for 18 months on balance transfers made within first 60 days of account opening
• 2.9% balance transfer fee applies (minimum £5)
• 0% interest on purchases for 18 months from account opening
• At end of promotional period, balance transfers and purchases will revert to standard variable rate
• Worldwide offers and discounts with HSBC home&Away
• Manage your card online
• Annual Fee: None

Application Criteria

HSBC Purchase Plus*

• You have an annual income or pension before tax of £6,800 or more
• You are a UK resident
• You are aged 18 or over
• You do not hold an HSBC Basic bank account

Card Offers

Co-operative Bank Balance Transfer

Balance Transfers:

0% for 24 months

Balance Transfer Fee:

3%

Purchases:

0% for 4 months

Representative APR:

20.6% APR (variable)

Card Details

Co-operative Bank Balance Transfer

• 0% interest for 24 months for balance transfers made within 60 days
• 3% balance transfer fee, minimum £5
• 0% interest on purchases for 4 months from account opening
• All successful applicants will receive this exact rate and offer
• Online account management
• Annual Fee: None

Application Criteria

Co-operative Bank Balance Transfer

• Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
• You are a UK resident
• You have annual income of £10,000 or more
• You are aged 18 or over

Card Offers

M&S Shopping Plus*

Balance Transfers:

0% for 20 months

Balance Transfer Fee:

2.9%

Purchases:

0% for 20 months

Representative APR:

21.9% APR (variable)

Card Details

M&S Shopping Plus*

• 0% for 20 months on balance transfers made within 90 days of account opening
• 2.9% balance transfer fee, minimum £5
• 0% on purchases for 20 months from account opening
• Collect M&S points every time you shop anywhere in the world with your card
• One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
• Manage account online
• Annual Fee: None

Application Criteria

M&S Shopping Plus*

• You are a UK resident
• You have an annual income or pension of at least £6,800
• You are aged 18 or over
• You have not held a credit card with M&S Bank within the previous 12 months

Who Owns Virgin Money Credit Card

All of the Virgin credit cards are now issued by Virgin Money, using the Mastercard payment network. At one time the Virgin Atlantic cards were issued by MBNA, with both a Visa and an AMEX card. There are no longer any Virgin branded AMEX balance transfer cards in the UK.

Mastercard credit cards are accepted at millions of shops, hotels and restaurants all around the world. The cards are also accepted widely at online retailers as well as airlines and other travel companies.

Virgin Money was originally founded by Richard Branson, back in 1995. Virgin Money has now been taken over by the parent company of Clydesdale and Yorkshire Bank. These older bank names will now be phased out and replaced with Virgin Money branding.

This does mean that balance transfers are not allowed from any Clydesdale Bank or Yorkshire Bank credit card to a new Virgin Money credit card.

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