Virgin Australia Velocity High Flyer Card

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Basic

Card Level
Card Level
Premium
Interest Free Days
Interest Free Days
44
Maximum credit limit
Maximum credit limit
$50,000
Minimum credit limit
Minimum credit limit
$15,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$289
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$40
Duplicate statement fee
Duplicate statement fee
$7
Supplementary card annual fee
Supplementary card annual fee
$89
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Premium
Interest Free Days
Interest Free Days
44
Maximum credit limit
Maximum credit limit
$50,000
Minimum credit limit
Minimum credit limit
$15,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$289
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$40
Duplicate statement fee
Duplicate statement fee
$7
Supplementary card annual fee
Supplementary card annual fee
$89
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
20.74%
Cash advance rate
Cash advance rate
20.99%
Purchase Rate
Purchase Rate
20.74%
Cash advance rate
Cash advance rate
20.99%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 15 months then 20.99%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
0%
for 15 months then 20.99%
Transfer Limit
Transfer Limit
80%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3.3% on Visa
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost
$14.9
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3.3% on Visa
Overseas charges
Overseas charges
$5
Estimated ATM Cost
Estimated ATM Cost
$14.9
for AU $300 withdrawal

Rewards

Program name
Program name
Velocity Frequent Flyer
Rewards Available
Rewards Available
Gift Card, Domestic Flights, International Flights
Program name
Program name
Velocity Frequent Flyer
Rewards Available
Rewards Available
Gift Card, Domestic Flights, International Flights

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$75,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$75,000
Eligibility conditions
Eligibility conditions

Earn Rates

RateCard TypeEarnsCondition
1 point for $1 spentVisaUp to $8,000 monthlyeligible transactions
0.5 points for $1 spentVisauncappedeligible transactions

Perks

  • Concierge
  • Special Events
  • Extended WarrantyWarranty is extended for the same duration as the original warranty up to 1 year.
  • Free International Travel InsuranceAvailable for covers up to $16,000 for loss or damage to personal property, $600 for loss or damage to travel documents and $2.5 million of personal liability cover
  • Free Travel Insurance DaysCover lasts for 31 days for One-way ticket holders
  • Price GuaranteeIf you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 21 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.
  • Purchase Protection
  • Airport LoungeUp to two Virgin Australia lounge passes per year at selected domestic airports
Other Benefits
$129 Virgin Australia gift voucher each year if you have made a retail purchase in the 2 months prior to requesting your voucher and your account is active and in good order.

Features

The Virgin Money Virgin Australia Velocity High Flyer Card features a high interest rate, a high annual fee and a moderately low number of interest-free days. It also comes with a moderately high minimum credit limit.

Cardholders of the Virgin Money Virgin Australia Velocity High Flyer Card can earn Velocity Points on eligible everyday purchases, which can be used for flights, upgrades and other travel rewards. Customers can also earn bonus points for meeting spending thresholds.

In terms of insurance, this card comes with complimentary international travel insurance, extended warranty insurance, transit accident insurance, guaranteed pricing cover and 90-day purchase cover insurance.

People wanting to transfer debt from another card to the Virgin Money Virgin Australia Velocity High Flyer Card can also do so at a 0 per cent interest rate for a limited period of time.

Pros
  • Velocity Frequent Flyer program
  • Bonus points offer
  • Complimentary insurances
Cons
  • High interest rate
  • High annual fee
  • Moderately low interest-free days

Who is it good for?

The Virgin Money Virgin Australia Velocity High Flyer Card would be suitable for people who typically spend a lot on their credit card and want to earn travel rewards rather than merchandise or gift cards.

This card’s balance transfer deal also makes it an attractive option for people considering changing credit card providers.

Additionally, the Virgin Money Virgin Australia Velocity High Flyer Card’s allowance for four supplementary cards might make it an appealing choice for couples, families and other people wanting to share an account.

However, it’s not particularly suitable for people who don’t always pay off their card balance on time as it has a high interest rate and high annual fee – so debt can add up quickly.

People looking for a rewards card that can be used to redeem a variety of rewards might also prefer another card with a more varied rewards program.

What RateCity says

For frequent spenders and travellers, the Virgin Money Virgin Australia Velocity High Flyer Card offers several advantages: rewards-earning potential, insurance coverage, free supplementary cards, a balance transfer offer and various other perks.

As such, there are reasons to choose this card if you aren’t too concerned about interest rates and fees.

However, if you want to cut down on costs or are planning to use a credit card when you need to spend above your usual budget, it might be worth doing some additional research to find a card that is more cost-effective.

If you’re already a member of another frequent flyer program (like Qantas Frequent Flyer), you might also be better off choosing a credit card that is associated with your current frequent flyer program, so you don’t have to manage multiple memberships.

Applying/eligibility

To be eligible for the Virgin Money Virgin Australia Velocity High Flyer Card, you need to be 18 years of age or older and a permanent Australian resident. You must also earn at least $75,000 a year. When you apply, you will need to provide your income and living expenses, the credit limit (or outstanding balance) of any credit cards or loans you have, and the card or account number/s of any balances that you wish to transfer. 

About Virgin Money

Virgin Money is a financial services provider based in Australia, South Africa and the United Kingdom. In Australia, Virgin Money has around 150,000 customers and is owned by Bank of Queensland. Virgin Money provides finance products such as credit cards, home loans, superannuation and insurance policies. Customers can manage their finances via the Virgin Money website and mobile app, or get support through Virgin Money’s phone support line or email address.

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