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Prepaid Card Review Directory

Virgin Prepaid MasterCard®



What Prepaid? Summary

Date Reviewed: July 2007

Which Prepaid Rating

What's Good

So, you can fly Virgin Atlantic, travel on the train with Virgin, or perhaps watch Virgin Media, whilst drinking a nice bottle of red from Virgin wines.. You could even pay for all of this on your Virgin credit card! But, if credit cards just aren’t your thing, you are under 18, or perhaps you have had bad credit in the past, Virgin now has yet another product for your wallet or purse. The Virgin Prepaid MasterCard.

It’s accepted wherever you see the MasterCard brand mark, and can be reloaded with cash for free at the Post Office. It also has no monthly fee and gives you loads of discounts off other Virgin products.

What's not so good?

Whilst there is no monthly fee, you are charged a 2.95% fee on all retail and cash transactions made in the UK. Whilst this is only around 30p per £10 spent, it can work out expensive if you use the card regularly. Whilst you may be initially put off by cards with monthly fees, they do generally work out very cost effective for frequent spenders. For example, if you spent £500 per month on the Virgin Prepaid MasterCard, it would cost you around £15 in usage fees! You would save around £10 per month with some other card issuers offering a prepaid card with a fixed monthly fee. 		Virgin Prepaid Card
Key Features
Features

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Application Process
5 Stars

Well, like most Virgin products, the application process if first class. It’s easy to apply and pay for your Virgin prepaid card, and it will arrive on the door mat in no time at all.

Card Designs
3 Stars

Only one card design is available, but does it matter? Its red, and it says Virgin on the front. What more could you want.

Fees
3 Stars

Bottom line – The Virgin Prepaid MasterCard is expensive if you intend to use the card frequently for purchase transactions. Watch those fees, as they will add-up.

However, it you don’t want to pay a monthly fee, or want to make lower value cash advances from the ATM, the Virgin card can be quite a good option. You also get the added bonus of Virgin discounts, and these will save you a bit more cash.

You will get charged a 3.5% fee for transactions performed outside of the UK. There are certainly cheaper prepaid cards on the market, so do your homework if you are looking for a card to use abroad.

Self Servicing
4 Stars

You can update your personal details, check your balance, review your recent transactions and add new cardholders, all via the Virgin Money website.




The Virgin prepay Card is promoted by Virgin Money Ltd. This card is issued on behalf of PrePay Technologies by Clydesdale Bank PLC pursuant to license by MasterCard International or its affiliates. PrePay Technologies is authorised and regulated by the Financial Services Authority.
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