The new credit card will donate 1% of all spending to a specific charity that was selected by user, with an automatic add GiftAid to donation.
The credit card also allows users to change the nominated charity to any other charity, to benefit from the money, as per customer’s wish.
The new card charges an interest rate of 12.9% and offers a rate of 8.9% for life on balance transfers, on which consumers pay a 2% fee.
It pays cashback of 0.8% of all spending, which increases to 1% when the impact of Gift Aid is taken into account.
Scott Mowbray, spokesman of Virgin Money, said: “The Virgin Money Charity Credit Card is an easy and convenient way to support good causes and the addition of Gift Aid ensures charities get the maximum benefit from donations.”
