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Virgin Overview

Virgin group is a branded venture capital organisation made up of more than 200 companies worldwide, employing around 50,000 people throughout 29 countries, producing revenues in the region of £10 billion in 2006 alone.

Virgin was founded in 1970 by British business tycoon Sir Richard Branson, and has since become one of the world's most recognised and respected brands, spawning highly successful businesses in industries including mobile telephony, travel, leisure, music, holidays, publishing and retailing among others.
In 1995 the Virgin brand took on new ventures in the financial sector operating under the name 'Virgin Money', offering a range services including loans, credit cards and insurance products. Although Virgin are not classed as a bank, they do provide backing, promising the same values that they offer with any products associated to them.

Like all Virgin companies, Virgin Money was launched to give customers a better deal. They offer  a wide range of financial products that are easy to understand.

Virgin Money was founded in March 1995 and now offers a wide range of products, the majority of which are run in conjunction with other financial service providers. It currently offers the Virgin Credit Card which is issued by MBNA, loans provided by Co-operative Bank and Freedom Finance, mortgages provided by The One Account, a range of insurance products underwritten by UK Insurance and Scottish Widows, savings accounts and ISA's provided by The Royal Bank of Scotland.
The Virgin Credit Card offers highly competitive introductory interest free periods on both balance transfers and purchases. In addition, Virgin offers 50 interest free days and a variety of discounts for products and services across the virgin group. These include money off Virgin Wines, Holidays and other Virgin financial products.

Virgin also offers a pre-paid card for customers that have a limited financial history allowing customers to load money onto the card at one of many transfer stations and use it like a credit card.

A one off fee of just £9.95 is required on opening the account, then any additional cards cost just £4.95. Every time the card is used to make a purchase or to withdraw cash, a 2.95% transaction charge is deducted from the balance.

 

ISAs (Individual Savings Accounts) are provided by the Government as a way of encouraging people to save. In a normal savings accounts you are taxed 20% of your returns, or a higher percentage if  you pay higher rate taxes.

However, ISA accounts allow you to save up to £7,200 per tax year (either £3,600 an a cash ISA and £3,600 in a stocks and shares ISA, or the full £7,200 in a stocks and shares ISA) and pay no tax on the dividends or interest earned. You can add your annual allowance to your ISA account every year to build up your earnings. 

Virgin offer a range of stocks and shares ISAs. One of its well known ISAs is The Virgin Climate Change ISA. This account invests in businesses that are environmental leaders in their industry and Virgin believe have the potential for outstanding profit growth. Virgin has been quick to recognise pollution taxes that are imposed on heavy polluting companies and believe that by investing in greener businesses that have a smaller carbon footprint they can help your investment to grow.

Virgin News

Virgin credit card 'allows borrowers to give back to charity'
Charity supporters may want to consider a new credit card launched by Virgin Money. ...
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Thu 4th Mar, 2010
Virgin Money credit card's balance transfer offer commended
One writer has spoken in a favour of a Virgin credit card. ...
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Mon 1st Mar, 2010
Virgin Media to launch 'flagship' broadband
TV and broadband supplier Virgin Media is to offer 100 Mb access by the end of 2010. ...
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Thu 25th Feb, 2010
Mobile broadband package launched by Virgin Media
Virgin Media has launched a new mobile broadband package, giving users the chance to get on the internet from anywhere in the European Union. ...
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Tue 23rd Feb, 2010
Virgin Credit Card praised
The Virgin Credit Card's 0% balance transfer deal has been praised by one writer. ...
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Thu 18th Feb, 2010