Earn up to 30,000 bonus Velocity Points on sign up and points on everyday purchases to redeem for flights, accommodation and more with a Virgin Money credit card.
Virgin Money is the financial services arm of the Virgin Group. Launching the first Virgin credit card in Australia in 2003, hundreds of thousands of Australians now enjoy the benefits that come with a Virgin Money credit card. Whether you're looking for a way to earn Velocity Points on everyday purchases, save with no annual fee or save on interest with a 0% promotional offer on balance transfers or purchases, there are plenty of Virgin Money credit cards to suit different types of cardholders. If you're considering a Virgin Money credit card, you can use this guide to compare your options, understand how they work and compare the fees, features and benefits of owning this type of credit card.
Virgin Money Credit Card Offer
Earn 2 bonus Velocity Points on top of your standard earn rate per $1 spent in the first 3 months, combined with a reduced annual fee for the first year and a long-term balance transfer offer.
- $64 p.a. annual fee for the first year ($129 p.a. thereafter) annual fee
- 20.74% p.a. on purchases
- 0% p.a. for 18 months with 1.5% balance transfer fee on balance transfers
- Cash Advance Rate of 20.99% p.a.
- Up to 44 days interest free
- Minimum Income Requirement of $35,000 p.a.
Comparison of Virgin Money Credit Cards
Rates last updated April 23rd, 2017.
- Virgin Australia Velocity Flyer Card - Balance Transfer Offer
1.5% BT fee has been added to the existing balance transfer offer which is valid until 15 June 2017.
April 3rd, 2017
- Virgin Money Low Rate Credit Card
Balance transfer period has changed from 6 months to 12 months and is valid until 15 June 2017.
April 3rd, 2017
- Virgin No Annual Fee Credit Card
$100 cashback offer has been replaced by a BT fee refund, which is valid until 15 June 2017.
April 3rd, 2017
Types of credit cards from Virgin Money
Since launching their credit card business in Australia, Virgin Money has expanded their range of credit cards to include low rate and no annual fee products. Their frequent flyer products have been, and remain to be, some of the most popular in the market. These cards reward you with Velocity Points when you make an eligible purchase as well as offer you a range of competitive card features. You can compare your different options with Virgin Money below.
Balance transfer credit cards
If you want to get in control of your debt, Virgin Money offers competitive balance transfer offers ranging from 0% for up to 18 months. Taking advantage of the balance transfer promotion could help you save on interest costs and pay down your debt faster. It's important to note that you can balance transfer up to 80% of your available credit limit from any eligible non-Virgin credit cards and the cash advance rate will apply when the promotional offer ends. For more details, see our step-by-step guide to conducting a balance transfer with Virgin Money.
No annual fee credit cards
If you want to cut down on standard credit card costs, look at a Virgin Money card that charges no annual fee. If you're an irregular credit card user, a $0 annual fee card will ensure your card isn't burning a hole in your wallet while you're not using it. The Virgin No Annual Fee card also offers a 0% balance transfer offer. As this card comes with a higher interest rate on purchases, make sure you pay your balance in full each statement period to avoid picking up debt.
Low rate credit cards
If you struggle to repay your balance each month, a low rate credit card from Virgin Money could help keep your interest costs low and protect you from falling into debt. If the card has 0% p.a. on purchases for a promotional period, you'll need to make sure you repay your balance before the offer ends to avoid interest. Otherwise, if the card comes with a low ongoing balance, paying your balance in full before the statement period ends will give you access to up to 44 interest-free days on purchases.
Frequent flyer credit cards
Virgin frequent flyer credit cards reward you with Velocity Points for every dollar you spend on eligible purchases. These points are directly debited in your Velocity frequent flyer account, which you can then redeem for flights with Virgin Australia and its airline partners, accommodation, fuel discounts with BP, car hire and everything from fashion and beauty to tech and gadgets from the Velocity Rewards Store. Some of these cards also offer bonus points on sign up or for a promotional period, which is another easy way to boost your Velocity balance. To ensure you're getting maximum value from your Virgin Australia frequent flyer credit card, make sure the value of the rewards you're earning each year outweighs the cost of the annual fee.
Keep an eye out for promotional offers too. Interest-free terms and balance transfer offers can also add extra value. Compare these cards by the extras against the fees and charges, like the annual fee.
Premium frequent flyer credit cards
If you're a regular spender looking to boost your Velocity Points balance, a premium frequent flyer credit card from Virgin Money could help you redeem your rewards faster. With a higher earn rate than other Virgin Money frequent flyer cards, a 30,000 bonus points offer and a reduced annual fee for the first year, there are plenty of ways to rack up extra points with this card. As it comes with a less competitive annual fee and interest rate, though, you'd need to pay your balance in full each month and ensure the dollar value of your rewards exceeds the annual fee to ensure the card is offering more than it costs.
The benefits of banking with Virgin Money
When you apply for a credit card with Virgin Money, these benefits are on offer.
Earn Velocity Frequent Flyer Points on eligible purchases
You can earn Velocity Points for every dollar spent on eligible purchases with a Virgin Money frequent flyer credit card. You can then redeem these rewards for flights with Virgin Australia and its airline partners, accommodation packages and products from the Velocity Rewards Store. While some of these cards come with bonus points on sign up, you can also earn extra points by using your frequent flyer credit card with Velocity partners such as BP fuel stations. If you're a regular credit card spender that usually pays their balance in full, a Virgin Money frequent flyer card is a simple way to be rewarded for your credit card purchases.
0% balance transfer offers
If you have a debt that's collecting high interest, Virgin Money offers a number of credit cards with 0% balance transfer promotions for up to 18 months. This means you can transfer a balance from a non-Virgin Money credit card or personal loan and pay down your debt without interest for the duration of the balance transfer period. Once the promotion ends, though, the standard cash advance interest rate will apply, so it's wise to pay your entire debt before this happens.
Visa credit card perks
All Virgin Money credit cards belong to the Visa payment network, meaning you can access global acceptance and a variety of exclusive Visa perks. You'll be able to use Visa payWave for contactless tap and go payments of up to $100 and receive peace of mind with Visa's No Liability Policy in case your card is ever lost, stolen or used for a fraudulent transaction. You'll also receive access to presale concert tickets, entertainment offers and discounts courtesy of Visa Entertainment.
How to apply for a Virgin Money credit card
If you've compared your options and decided a Virgin Money credit card is for you, you can complete a secure online credit card application within 15 minutes and should receive a response in a matter of minutes. Before you apply, though, make sure you've met the eligibility requirements and organised the necessary documents to ensure a smooth application process.
- Age. All applicants must be at least 18 years old.
- Residential status. You'll need to be an Australian citizen or permanent Australian resident.
- Minimum income. Depending on the card, you'll need to meet a specific income requirement to qualify for the card.
- Credit rating. You'll need a good credit history to receive approval.
You will need to provide information about the following if you wish to apply for a Virgin credit card.
- Personal information. You’re required to provide basic personal information like your address and date of birth. You’ll also need to verify your identity using an accepted form of identification such as your drivers licence number.
- Financial information. You will need to submit information about your income, your living expenses, details of any assets and liabilities and information about any accounts you wish to include in a balance transfer.
While Virgin Money offers many types of credit cards to suit different types of Australian credit cardholders, you'd benefit from comparing your options first to ensure you're applying for the right card for you.
Frequently asked questions
We’ve provided answers to some of the most frequently asked questions about Virgin Money credit cards below. If you have a question that hasn’t been answered, get in touch with us using the form below.
How do I know I’m eligible for a Virgin credit card?
The application requirements for each Virgin credit card are different. You can find the eligibility requirements for Virgin credit cards on our review pages. Generally speaking, you will need to answer yes to the following if you want to apply for a Virgin credit card.
- Be over the age of 18
- Be a permanent Australian resident
- Have a good credit rating
If you're still unsure, you can get in touch with Virgin Money directly to discuss your likelihood of acceptance.
How do I apply for a balance transfer?
If you are a new customer with Virgin requests for a balance transfer can be made in the application for the new credit card. If you did not apply for the balance transfer during the application process, any special offer rates are still available 30 days after your card has been approved.
Existing cardholders can apply for a balance transfer by contacting Virgin Money directly on their dedicated customer service line.
See our how to apply for a Virgin Money balance transfer credit card guide for further details.
What happens after I apply for a Virgin Money credit card?
You should receive a response from Virgin Money within minutes of submitting your online application for a credit card. You will be contacted on the email you provided to Virgin when you applied. If they don’t get in touch with you, contact Virgin on 13 37 39, and quote your 13 digit application reference number and Virgin will be able to let you know about the status of your credit card application.
How do I balance transfer to a Virgin Money credit card?
To take advantage of a balance transfer promotional offer so you can save on interest repayments, elect to transfer a balance to a Virgin credit card when you apply online. The following account balances can be included in a balance transfer to a Virgin Money credit card.
- Visa and Mastercard credit cards
- Store cards and charge cards
- Personal loans and lines of credit
Keep the following in mind if you want to transfer a balance to a Virgin credit card
The account you want to transfer from must be in the same name as the Virgin credit card primary account holder
You can use up to on your Virgin credit card towards a balance transfer
At the end of the balance transfer promotional period, the cash advance rate of interest is charged on any unpaid amount from a balance transfer promotion
You are not eligible for interest-free days as long as you’re carrying forward an outstanding amount from a balance transfer.
If you’re approved for the account, you will also generally be approved for the balance transfer offer. Once you receive and activate the credit card, the balance transfer will be automatically processed by Virgin. Balance transfers can take up to five to 10 business days to process.
How do I find out my credit limit?
Your credit limit is how much money Virgin are willing to lend to you. During your application, you can nominate a specific credit limit or note that you'd like to access the maximum amount of credit. The credit limit you're approved for will depend on factors such as your income and credit history. You can also apply for a credit limit increase if you've demonstrated the ability to repay further into your card ownership.
How do I add an additional cardholder to the account?
Refer to our Virgin credit card review pages to find out how many additional cardholders you can add to each Virgin credit card account. You can apply for an additional cardholder when you apply for the credit card. If you’re an existing Virgin credit card account holder, you can request to add a supplementary card on your account by completing and sending in an additional cardholder request form, which is available from the Virgin website. Please note that if the additional card incurs an annual fee, it will be charged to the primary cardholder's account when the supplementary card is issued. It may take up to 10 business days to process and issue an additional cardholder request.
How do I make a repayment on my Virgin Money credit card?
You have the following options to make repayments to a Virgin Money credit card.
- Direct debit. Jump on the Virgin website to complete and submit a Virgin Money Direct Debit Auto Pay Application Form. This method of payment allows you to automatically pay your entire account balance, just the minimum repayment or a specific amount when your statement comes. The money is taken from a savings or transaction account linked to your Virgin credit card account.
- BPAY. You can pay your Virgin credit card from another lender’s internet banking facility using BPAY. The Virgin Money BPAY biller code is 49551 and your customer reference number is your 16 digit credit card number.
- Cheque. Virgin credit card statements are issued with a payment slip. Complete this form and mail it with a cheque to Virgin Money at GPO Box 4299, Sydney, NSW, 2001. Make the cheque payable to your Virgin Money credit card account number and be sure to include the type of credit card you hold. Make sure you write your account number on the back of the cheque.
- In person at Australia Post. You can pay your Virgin Money credit card at Australia Post using cash or EFTPOS.
What do I do if my credit card is lost or stolen?
If you have lost your credit card or it has been stolen, contact Virgin 24/7 on 13 37 39 (or +6 12 8288 2222 if you’re overseas). A member of the Virgin Money will block your card and arrange for a new one to be sent out to your location.
How secure is my Virgin Money credit card?
Each Virgin Money credit card comes with Fraudshield. This is an automatic system that will raise a red flag if any suspicious activity is detected on your account. Visa’s Zero Liability policy also protects you against fraudulent use (online and offline) if your account is compromised. All you have to do is call the customer assistance line, which is open all day every day, and they will instantly put a block on your card.
How do I register for online banking?
When you get your credit card head to the Virgin Money website and look for the icon that allows you to register your account as a first-time user. Simply follow the steps to complete the registration and you’ll be able to manage your account online.
What’s my minimum monthly repayment?
You're required to pay a minimum repayment of at least 2% or $30, whichever is greater, of your total balance each month. You must pay this fee by the due date listed on your credit card statement, or you'll incur a late payment fee. However, if you want to avoid collecting interest, you should pay your balance in full before this due date.