Showing credit cards based onan annual fee of
$
or less for a credit score of
Purchase Rate

Purchase Rate

20.49

% p.a

Interest Free Days

Interest Free Days

45

Annual Fee

Annual Fee

$300

Late Payment Fee

$15

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More details
Purchase Rate

Purchase Rate

20.49

% p.a

Interest Free Days

Interest Free Days

45

Annual Fee

Annual Fee

$99

for 12 months then $150

Late Payment Fee

$15

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More details
Purchase Rate

Purchase Rate

21.49

% p.a

Interest Free Days

Interest Free Days

55

Annual Fee

Annual Fee

$99

for 12 months then $199

Late Payment Fee

$30

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More details
Purchase Rate

Purchase Rate

20.74

% p.a

Interest Free Days

Interest Free Days

44

Annual Fee

Annual Fee

$289

Late Payment Fee

$30

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More details
Purchase Rate

Purchase Rate

20.74

% p.a

Interest Free Days

Interest Free Days

55

Annual Fee

Annual Fee

$64

for 12 months then $129

Late Payment Fee

$30

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More details

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Learn more about credit cards

What are Virgin Velocity frequent flyer points?

Many credit cards in Australia reward customer spending by allowing them to earn points on eligible purchases. These points may then be exchanged for various benefits and perks.

For Virgin Australia Velocity credit cardholders, their eligible purchases may earn them frequent flyer points within the Velocity program. When used correctly, these credit cards can be a worthwhile way to boost your frequent flyer points balance. You may then redeem points for a variety of travel related perks. 

Examples of the perks Virgin Velocity frequent flyer points may be able to be exchanged for include:

  • Domestic flights, such as to Sydney and Melbourne
  • International flights
  • Flight upgrades
  • Complimentary travel insurance (for yourself and family members)
  • Hotel bookings
  • Concierge services
  • Airport lounge access and lounge passes
  • Baggage upgrades and priority delivery
  • Extended warranty
  • Gift cards
  • Rental car insurance

Be sure to review the Terms and Conditions, as well as the product disclosure statement, for a full breakdown of the eligibility criteria of Virgin Velocity credit cards.

How can I earn Virgin Velocity frequent flyer points with my credit card?

You may be able to earn these frequent flyer program reward points by:

  • Flying or organising any Travel with Virgin;
  • Using your Virgin Velocity frequent flyer rewards credit card for your everyday purchases; and
  • Spending money at partner retailers.

As mentioned above, the main way to earn these frequent flyer points using your new card is to make eligible purchases using a Velocity points-earning card. You can expect to earn between 0.5 and 2 points for every $1 you spend on eligible purchases. An eligible purchase could be your weekly grocery shop or paying for petrol, but cash advances and BPay payments are generally not rewarded with points.

Who offers Virgin Velocity frequent flyer credit cards?

There are currently three main credit card issuers who offer Velocity membership rewards cards: Virgin Money, Westpac and American Express (AMEX). You can choose from Mastercard or AMEX from the Westpac card offerings, and Visa from the Virgin Money offerings.  

Some credit cards also may come with bonus Velocity points offerings on sign-up, so keep an eye out for any deals that may suit your financial needs and budget.

Generally speaking, most frequent flyer rewards credit card issuers offer Qantas rewards programs. But this range may potentially expand in future years. 

Normally, if the credit card earns Velocity points directly, you won’t need to do anything after you’ve made the eligible purchase; they’re usually transferred straight into your Virgin Velocity account.

Alternatively, if it’s a partner credit card, you’ll need to manually transfer any eligible reward points you earn into your Velocity account. Do your research on any additional fees the credit card issuer might charge for transferring the points across and which card gives you the best transfer rate.

How to compare Virgin Velocity credit cards

Much like any other credit card, cards that earn Virgin Velocity rewards points have different features and fees. Make sure that any card fees and interest rates don’t outweigh the benefits of earning points.

  • Earn rate

The more points you’ll earn for each $1 spent, or the higher the earn rate, the more you’re getting out of your plastic. 

If you’re comparing credit cards with Virgin Velocity points, check whether any of the credit cards offer bonus points when signing up. But remember, there’s more to a credit card than bonus points; while they can be worthwhile, it’s the ongoing costs of the card that you need to be comfortable committing to. 

  • Interest rate

When it comes to rewards cards like credit cards with Virgin Velocity points, the interest rate tends to be higher than standard credit cards with fewer features.

If you tend not to pay your card balance in full each month, a higher interest rate may cancel out the benefits of any rewards points. Look for cards that offer a lower interest rate and be wary of any potential interest you could accrue on your card balance.

Interest-free days are another feature to keep an eye out for. This grace period, usually between 45 and 55 days, when your purchases are not hit with interest can help you keep your card costs down.

  • Card fees

Much like interest rates, rewards cards like credit cards with Virgin Velocity points tend to have higher annual fees than cards with fewer features. While you may be earning points, you’ll also be paying for the luxury by way of higher rates and card fees.

On occasion, some cards may waive or discount the first year of fees as an incentive. Before you apply for a credit card with Virgin Velocity points, be sure to do your research to make sure that the standard annual card fee doesn’t outweigh the perks of earning points.

If you plan to use the card overseas, be aware of any international currency charges or additional fees. It’s worth noting that cash advances generally don’t earn Virgin Velocity points and tend to incur a high cash advance interest rate.

  • Card perks

Some credit cards with Virgin Velocity points come with bonus perks like complimentary travel insurance and other freebies. All of these will be outlined in the rewards program on the provider's website. 

In most cases, complimentary travel insurance is usually offered on platinum or premium credit cards. The upside of premium platinum cards is that they tend to have a lot more features, the downside is that the annual fees and interest rates are often higher.

If you’re a frequent traveller, paying the premium for a card that offers you extra features may work in your favour. But if you don’t travel often or you require complicated insurances, premium platinum cards might not be the best value. Always check the terms and conditions of the insurances to make sure that the level of complimentary cover and the inclusions suit your situation.

Other card perks may include a complimentary domestic flight, flight upgrades or vouchers or complimentary entry passes into the Virgin Australia lounge.

What to look out for when comparing credit cards with Virgin Velocity points

All credit cards come with the risk of overspending, especially when you’re spending the bank’s money before your own. Rewards cards that incentivise spending by offering rewards points can tempt cardholders to overspend for the sake of earning points. 

It’s important to remember that credit cards are essentially short-term unsecured loans from banks, which charge interest on the money you spend. If you don’t pay off the balance within the interest-free cycle, the points might not be worth the extra interest costs you’ll be charged.

Some frequent flyer cards will cap the number of points you can earn by using the card. As rewards cards tend to have higher fees and interest rates, do the maths to make sure that you’re still getting value for money and that the number of points you may potentially earn are still of value to you.

Frequently asked questions

What's the best credit card for rewards?

There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice. 

Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward. 

Can a pensioner get a credit card?

It is possible to get a credit card as a pensioner. There are some factors to keep in mind, including:

  • Annual income. Look for credit cards with minimum annual income requirements you can meet. 
  • Annual fees. If high fees are a concern for you, opt for a card with a low or $0 annual fee. 
  • Interest rate. Make sure you won’t have any nasty surprises on your credit card bill. Compare cards with a low interest rates to minimise risk.

How do you cancel a credit card?

It’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.

Can I transfer money from my American Express credit card to my bank account?

If you’re an American Express credit card customer, you may not be able to transfer money from your credit card to your bank account. However, you may be eligible for cash advances, which involves withdrawing money through an ATM. 

To qualify for a cash advance, you’ll likely have to enrol for American Express Membership Rewards. Consider checking your online credit card account to see if you can withdraw a cash advance and, if so, the fees and charges you’ll incur for this transaction. 

You should remember that cash advances are different from balance transfers, which were available with some American Express credit cards earlier. Balance transfers allow customers to consolidate debt from high-interest credit cards to a credit card offering a lower interest rate. If you only recently applied for an American Express credit card, balance transfers may not be available irrespective of the card you own. 

How easy is it to get a credit card?

For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.

Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.

Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.

Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.

How do you use a credit card?

Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.

What does ANZ credit card insurance cover?

ANZ offers complimentary insurance on some of its credit cards, which can provide some protection against unforeseeable incidents, like the theft of your card. Depending on the type of credit card you own, you may be eligible for different insurances. For instance, most ANZ credit card customers may qualify for Purchase Protection Insurance and Extended Warranty Insurance. Customers who own premium credit cards may also be eligible for Guaranteed Pricing, Rental Vehicle Excess, International Travel, and so on.

Consider checking your ANZ credit card insurance features listed in the Insurance Policy Information booklet to know which items are covered. Also, while ANZ issued the credit card, they are not the insurer. For this reason, you may need to send your insurance claims - and get your ANZ credit card insurance refund - to the insurance provider.

How do you use credit cards?

A credit card can be an easy way to make purchases online, in person or over the phone. When used properly, a credit card can even help you manage your cash flow. But before applying for a credit card, it’s good to know how they work. A credit card is essentially a personal line of credit which lets you buy things and pay for them later. As a card holder, you’ll be given a credit limit and (potentially) charged interest on the money the bank lends you. At the end of each billing period, the bank will send you a statement which shows your outstanding balance and the minimum amount you need to pay back. If you don’t pay back the full balance amount, the bank will begin charging you interest.

What should I do if my ANZ credit card has expired?

Your ANZ credit card is considered expired only after the last day of the month and year marked on your card. For instance, if your card’s expiry date reads 03/22, it is valid until 31 March 2022 and expires on 1 April 2022. Typically, you should have received a new credit card by that date, and you won’t have to request a new card. 

Once you get the new card, you should remember to switch any automatic payments you have - such as a utility or mobile phone bill - from your expired credit card to your new credit card. Equally, if you are using CardPay Direct to repay your ANZ credit card debt, you may need to update the credit card account details for that service as well. 

In case the new card doesn’t arrive by the expiry date of your current credit card, you can call ANZ on 13 22 73 to find out the reason and if you need to request an expedited card. Please note that if you were planning to close your credit card account or request a credit card upgrade, you may need to call ANZ at least before the 25th of the month your current credit card expires in, as that’s when they may send you the new credit card.

Does ING increase credit card limits?

You may want to increase your credit card limit for many reasons, such as having access to more spending money. However, if you are using the Orange One credit card issued by ING, you may not be able to do so. 

ING customers can choose a credit limit of their preference when applying for the Orange One credit card. Depending on your financial situation, this limit can be anywhere between $1,000 and $30,000. If you qualify for a Rewards Platinum card, the minimum credit card limit will likely be $6,000. 

Ideally, you should set your credit card limit knowing how much you can afford to repay each month and keep your expenses lower than this level. With most credit cards, you should have the option of requesting a credit card limit increase at a later time, although you will need to qualify for any increase. With an ING credit card, limit increases are out of the question (at the time this was published), which means you may want to apply for a higher credit card limit from the beginning. Remember that you have the option of decreasing your ING credit card limit at a later time.

How do I apply for a BOQ credit card limit increase?

If you’re an existing BOQ customer, you can request a BOQ credit card limit increase over a phone call. However, you should remember that owning and using a credit card is a matter of financial responsibility, so it might be worth thinking this decision through. 

When requesting a credit card limit increase, you’ll need to be just as responsible in terms of how much you earn and can set aside to repay the outstanding card balance. A credit card company may approve a credit limit increase only if you can show that you have either the income or the disposable income, which is the amount you have left after all expenses have been paid out.

For this purpose, you may need to submit your latest income documents and bank statements for an increase. You may want to estimate how much you usually have left after deducting your expenses, and then use this amount to try and convince the credit card company. Also, you may prefer to pay off the card balance in full each month and thus avoid paying interest on the card, helping you back up any claims of financial responsibility, as well. 

Remember that you may not be able to apply for a credit card limit increase beyond any limitations on the type of card you own. For instance, if you own a card whose ceiling is $10,000, and your current limit is $5,000, you won't likely be able to apply for a $10,000 credit card limit increase.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

How does credit card interest work?

Generally, when we talk about credit card interest, we mean the purchase interest rate, which is the interest charged on purchases you make with your credit card.

If you don’t pay your full balance each month (or even if you pay the minimum amount), you are charged interest on all the outstanding transactions and the remaining balance. However, interest is also charged on cash advances, balance transfers, special rate offers and, in some cases, even the fees charged by the company.

The interest rate can vary, depending on the credit card. Some have an interest-free period, otherwise you start paying interest from the day you make a purchase or from the day your monthly statement is issued. So avoid interest by paying the full amount promptly.

How to get money from a credit card

You can get money from a credit card, but generally it will cost you.

Withdrawing money from a credit card is called a cash advance, as it operates more as a loan than a simple cash withdrawal. Because it is a loan, you may be charged interest on your cash advance as soon as you make the withdrawal. Interest rates are also usually much higher for cash advances than standard credit card purchases.

In addition to the interest rate, you may also be charged a cash advance fee. This could be a flat rate, or a percentage of your total cash advance. If you are considering a cash advance, make sure to add up how much it will cost you before committing.

How to make a credit card online

If you’re wondering about how to make a credit card online application, here are some steps to follow:

  • Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
  • Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
  • Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
  • Review details. Ensure the information you’ve entered is correct.

What is a credit card?

A credit card is a payment method which lets you pay for goods and services without using your own money. It’s essentially a short-term loan which lets you borrow the bank’s money to pay for things which you can pay back – potentially with interest – at a later date. Credit cards can also be used to withdraw money from an ATM, which is known as a cash advance. Because you’re borrowing money from a bank, credit cards charge you interest on the money you use (unless you repay the entire debt during the interest-free period). When you apply for a credit card, the bank gives you a credit limit which sets the maximum amount you can borrow using your card. Credit cards are one of the most popular methods of payments and can be a convenient way of paying for goods and services in store, online and all around the globe.

What is a balance transfer credit card?

A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card. 

What should you do when you lose your credit card?

Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.

Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.

Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.

Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.

Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.

How is credit card interest charged?

Your credit card will be charged interest when you don’t pay off the balance on your credit card. Your card provider or bank charges you the individual interest rate that is associated with your card, which is usually between 10 and 20 per cent. 

The interest will be added onto your bill each month or billing period if you don’t pay off the balance, unless you are in an interest-free period.

You will be charged interest on anything that hasn’t been paid for inside the interest-free period. Usually you will receive a notice on your bill or statement saying you will be charged interest so you have some form of notice before you’re charged.

Which credit card has the highest annual percentage rate?

The credit card market changes all the time, so the credit card with the highest annual percentage rate is also liable to change.

Keep in mind that credit card interest rates are expressed as a yearly rate, or annual percentage rate (APR). A low APR is generally good but also consider:

  • There can be different APR's for each feature of the card (e.g. purchases may have an APR of 14 per cent, while cash advances on same card could have an APR of 17 per cent.
  • Credit cards with a variable rate can change throughout the year, affecting your APR, so check the full details.
  • If you pay your balance in full every month, having the lowest APR is not as important as the other fees associated with the card. However, if you carry a balance from month to month, then you want the lowest APR possible.