Eighteen months after relaunching its Australian business, Virgin Money has successfully re-established itself as a financial services brand. This is the view of its chief executive, Matt Baxby, who is preparing to expand the business with a couple of new product launches in the coming months.Baxby said Virgin money passed 100,000 customers "some time ago". He claimed that its main product, its credit cards, accounts for more than 10 per cent of new cards issued in the Australian market.And, he said, the group's superannuation product experienced its best sales year ever last year."The Virgin business proposition is still very valid in this market. Consumers don't like banks and there is not a lot of competition," said Baxby.Virgin Money hit the local market with a bang in 2003 when its no-fee, low-rate credit card attracted 500,000 customers. But the card was not a financial success for Virgin's then card partner, Westpac, and was withdrawn from the market in 2009Virgin took another hit during the financial crisis, when its home loan partner, Macquarie Bank, stopped selling mortgages.Virgin Money re-emerged in July 2010 with a new banking partner, Citibank. With their first credit card offerings they tried to repeat the original formula of low fees and low rates.However, it was not until they launched the High Flyer Card in January last year that the card business picked up. High Flyer is a direct-earn frequent flyer card linked to Virgin Australia's Velocity rewards program.Baxby said: "Cards are our most successful product. That is our heritage. The resurgence of the airline helped sell the card. "The market has changed. Consumers are cautious and they are deleveraging. We had not been in rewards before but that was our opportunity."Baxby said he was pleased with the progress of the deposit account, Virgin Saver, although he did not say what the inflows were.Virgin has been price leader in the high-interest savings account market since it launched the product. However, towards the end of last year it cut its introductory rate back by 66 basis points. Baxby said inflows have slowed as a result but the product is still selling. He said savers were more interested in a good ongoing rate (Virgin Saver's is 4.65 per cent) than a high introductory rate. Virgin Money's product suite also includes car insurance and life insurance products. The group's strategy is to tweak the product features of a standard product enough so the product will stand out as a good value alternative. The car insurance offer includes a "renewal price promise" that the premium will not change in year two. "We have a good renewal rate with that product," Baxby said.He said the brand was still very well recognised. Despite a modest marketing spend, Virgin Money's "consideration" was the second highest in the consumer finance market (consideration is a measure of people's propensity to buy one of the company's products).He put this down to effective use of social media. "A lot of banks just dip their toe in. We use Facebook and