Virgin Money Credit Cards have been voted the best credit card by users of an online website thinkmoney.co.za, the results of the survey are in line with a similar analysis conducted a year ago, indicating that the Virgin Money brand has remained strong and users’ view of the card has remained consistent.
Consumer prefer Virgin Money Credit Cards
ThinkMoney encourages consumers to review financial products such as credit cards, bank accounts, insurance products and more. Users can give a product a rating out of five with regards to service, integrity, internet banking, retail discounts, rewards programmes, telephone banking and value for money.
Users gave the Virgin Money Credit Card a very high overall star rating of four out of five, with 81 percent of reviewers saying they would recommend the card to other people.
Unsurprisingly, the Virgin Money card is also one of the cheapest credit cards on the market, as they charge “no annual card fee” (although other fees apply).
In terms of other criteria, the top rated credit cards by ThinkMoney users were the Investec Private Bank card and the Nedbank Dezign card, both of which scored an average of 4.4 stars out of 5. However, as opposed to the wider target market of the Virgin Money card, the Investec card is only available to select consumers, and the Nedbank Dezign card is aimed at students.
Other popular credit cards were the Absa Silver credit card, which received 546 reviews and an average rating of 3.2 stars out of five. It received high marks for its internet banking facilities (3.4 out of five), but a low rating for the retail discounts it offers (only 2.1 out of five).
The Absa Gold card, Standard Bank Gold card and both the FNB Silver and Gold cards also received large numbers of reviews.
Gareth Mountain, CEO of ThinkMoney, commented on these findings: “Virgin has a very unique value proposition in the credit card space, which is their ‘no annual card fees’. Bank fees have always been a sticking point with consumers, which explains the popularity of the Virgin Money credit card.”