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Virgin Australia Velocity Flyer Card (Balance Transfer & Annual Fee Offer)

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Basic

Electronic Wallet Service

Important Rates

Rates

Balance Transfer

Overseas spending

Rewards

Eligibility

Earn Rates

RateCard TypeEarnsCondition
0.66 points for $1 spentVisaUp to $1,500 monthlyeligible transactions
0.5 points for $1 spentVisauncappedeligible transactions
  • Price Guarantee If you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 60 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75 and less than $500.
  • Concierge
  • Special Events

Features

The Virgin Money Virgin Australia Velocity Flyer Card has a moderately low annual fee, high interest rate and a moderately low number of interest-free days.

The card has an associated rewards scheme that earns Velocity Frequent Flyer points. With the Virgin Australia Velocity Flyer Card’s Annual Fee offer, card holders will enjoy 0 per cent interest for 18 months on balance transfers, as well as an additional 20,000 bonus Velocity Points when you spend $3000 or more in the first three months from card approval. The offer also boasts an ongoing annual fee discount where you pay just $50 for your annual fee (normally $129).

The Virgin Australia Velocity Flyer Card earns 0.66 Velocity Points per $1 spent on retail purchases for the first $1,500 spent within the statement period. After this threshold, card holders will earn 0.5 Velocity Points per $1 spent.

Pros
  • Earns upfront bonus Velocity Points, and ongoing Velocity Points
  • A Virgin Australia Gift Voucher each year
  • Complimentary insurances
  • 0% balance transfer offer
Cons
  • High interest rates
  • Charges an annual fee
  • No free additional cardholders

 

Who is it good for?

The Virgin Money Virgin Australia Velocity Flyer Card may be best for those who are frequent customers of Virgin Australia. The card's earn rate, along with the introductory points offer, will allow card holders to consistently increase their Velocity Points, which can be redeemed for flights, accommodation and more.

The rewards scheme is designed as a travel program, which makes may make this card less beneficial to non-travellers. However, with 0 per cent balance transfers for 18 months and an ongoing annual fee discount, the card could still offer value to the right cardholder. 

The Virgin Money Virgin Australia Velocity Flyer Card is also not a good fit for those who are not confident about paying their credit card bill in full each month. This card has high interest rates and a moderately low interest-free period, which may become challenging if monthly bills are not paid fully. 

What RateCity says

If you’re looking to boost your Velocity Points, the Virgin Money Virgin Australia Velocity Flyer Card is a practical choice. Offering ongoing Velocity Points earn on everyday spend, as well as 20,000 bonus Velocity Points (spend criteria and T&Cs apply) it may be a good choice for those looking to travel.

This card offers fewer advantages to travellers who are not regular Virgin Australia customers. Because the card earns Velocity points, card holders can redeem their earnings for Virgin flights and related benefits, which makes the rewards scheme less than ideal for those who prefer an airline other than Virgin.

Even non-travellers may be able to benefit from the card's discounted annual fee, a $129 Virgin Australia Gift Voucher each year, and 0 percent interest for 18 months on balance transfers. 

Budget card holders should keep in mind that this card charges a moderately low annual fee, as well as foreign transaction fees.

Applying/eligibility

Applying for the Virgin Australia Flyer credit card takes only 10 minutes through a secure online application. You must be at least 18 years old to apply, as well as be a permanent Australian resident and have a good credit rating. You’ll also need a minimum annual income of $35,000 or higher. When applying, you’ll need to provide your income and living expense details, as well as the credit limit or outstanding balance of any current credit cards you have. 

About Virgin Money

Virgin Money Australia is known for providing simple financial products for Australian consumers. Virgin Money’s current offering includes credit cards, home loans, life insurance, income protection, car insurance, home and contents insurance, travel insurance and superannuation. Although Virgin Money Australia carries the famous Virgin brand, it was sold to Bank of Queensland in 2013. Virgin partners include Velocity Frequent Flyer, Citibank, Auto & General Insurance Company, Allianz Worldwide Partners, TAL Life and Mercer.

FAQs

Paying or transferring debt from one lender to the other is called a balance transfer. This involves transferring part or all of the debt from a credit card with one lender to a credit card with another. As part of the process, your new lender will pay out the old lender, so that you now owe the same amount of money but to a new institution.

Many credit card providers offer an interest-free period on balance transfers to help new applicants better handle their debt. During this period, cardholders are not required to pay interest on the debt they brought over from the other card. This can be a great opportunity for consumers to pay off credit card debt with no interest. There are often fees associated with balance transfers; normally, these are a percentage of the amount transferred.

So make sure you read the terms and conditions of the card before transferring any debt across.

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