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.
- Velocity Frequent Flyer program
- Bonus points offer
- Complimentary insurances
- 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.
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.