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Our verdict

This card offers 0% p.a. on balance transfers for 24 months and a $0 first-year annual fee, but no interest-free days on purchases while you have a balance transfer.

Finder Awards winner

The Virgin Australia Velocity Flyer is an entry-level frequent flyer credit card that is currently offering a long 24-month interest-free balance transfer and a $0 first-year annual fee.

While these are valuable features when you want to save on credit card costs, be aware that you don't get any interest-free days on new purchases while you have a balance transfer. So focusing on paying down your existing debt will help you make the most of this offer.

Beyond the introductory offer, this card also features a complimentary $129 Virgin Australia gift voucher each year.

Pros

0% p.a. interest on balance transfers for the first 24 months, with no BT fee
$0 first-year annual fee ($149 p.a. after that)
$129 Virgin Australia Gift Voucher each year
Velocity Points per $1 spent on eligible purchases

Cons

High 20.74% p.a. interest rate for purchases
No interest-free days on purchases if you have a balance transfer
3.3% international transaction fee

If you want to pay off an existing debt, this Virgin Australia Velocity Flyer offer gives you 0% interest on balance transfers for the first 24 months. You'll also save with a $0 annual fee in the first year. But if you're still repaying your balance transfer after the introductory period, you'll be charged interest at the cash advance rate – currently 20.99% p.a.

The Virgin Australia Velocity Flyer credit card also offers a Virgin Australia Gift Voucher worth $129 every year and earns Velocity Points on eligible transactions. It doesn't offer interest-free days on purchases when you have a balance transfer, so it's usually better to focus on paying that off before using the card for new purchases. If you're more interested in points, check out the Virgin Australia Velocity Flyer's bonus points offer instead.

Details

Product details

Product Name	Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Balance transfer rate p.a.	0% for 24 months, then 20.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	20.74%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	20.99%
Min credit limit	$6,000
Max credit limit	$30,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$35,000
Joint application	No

Rewards

Rewards program	Velocity Frequent Flyer
Bonus points	N/A
Rewards points per $ spent	0.66
Rewards points cap	Uncapped

Fees

Annual fee	$0 first year ($149 after)
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.3%
Cash advance fee	2.7% or $2.70, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$39
Number of additional cardholders	4

How to apply

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Congratulations, Virgin!

Virgin Australia Velocity Flyer Card won the award for 'Balance Transfer Credit Card' in the 2024 Product Awards.

Full list of 2024 winners

You can apply for the Virgin Australia Velocity Flyer online in around 10 minutes and will need to apply by 14 May 2024 to take advantage of the balance transfer offer. To get started, make sure you meet the eligibility requirements and have the documents and details you'll need for the application.

Eligibility criteria

Eligible balance transfer debt. You can transfer from $500 up to 80% of your available credit limit.
Minimum income. You must earn a minimum of $35,000 a year to apply for this card.

Residency. You must be an Australian citizen or permanent resident.
Minimum credit limit. You must be willing to accept a minimum credit limit of $6,000.
Credit history. You must have a good credit history. You can check your comprehensive credit report and score for free through Finder.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, mobile number, residential address, living situation and driver's licence number or passport.
Employment details. This includes your job title, salary and your employer's name and contact details. You'll also need to provide documents to verify your income, such as recent payslips or your last tax assessment notice.
Financial information. This includes details of your income and assets (such as savings or investments), as well as any existing debts and financial commitments such as bills.
Balance transfer information. To transfer a balance to this card, you will need to provide the card or account number(s) of any balances that you are applying to transfer.

Card benefits

Balance transfer. Apply by 14 May 2024 and save with 0% interest on your transferred balances for the first 24 months. After the introductory period expires, any unpaid balance will be charged interest at the cash advance rate, currently 20.99% p.a. Please note that you will not earn points on balance transfers and a balance transfer debt disqualifies you from interest-free days on new purchases.
Waived first-year annual fee. Save with a $0 annual fee for the first year, which goes to $149 from the second year on. Offer ends on 14 May 2024.

$129 Virgin Australia gift voucher benefit. You can get a $129 Virgin Australia gift voucher with this card. All you need to do is make an eligible purchase on your card within 2 months before requesting the voucher, which will be issued as a Travel Bank Credit. You'll then have 12 months to use the credit on eligible flights or travel services booked through the Virgin Australia website.
Velocity Points. For the first $1,500 spent on eligible transactions, you'll earn 0.66 Velocity Points per $1 spent. An earn rate of 0.5 Velocity Points per $1 spent will apply thereafter. Eligible purchases include most everyday spending but does not include things like balance transfers, cash advances, BPAY payments or government transactions.
Complimentary insurance. Purchases made using the Visa card are protected with purchase protection insurance and extended warranty insurance.
Additional cards. To earn more Velocity Points, you can request an additional card for $39.
Mobile wallets. You can link your credit card with Google Pay, Apple Pay and Samsung Pay to make contactless payments with your eligible smartphone or smartwatch.

Rates & fees

Annual fee. Outside of any promotions, this card charges an annual fee of $149.
Interest rates. This card charges an interest rate of 20.74% p.a. on purchases and 20.99% p.a. on cash advances.

Interest-free days. You can save with up to 55 days interest-free on purchases provided that you pay your balance in full by the due date on each statement. Please note that you are not eligible for interest-free days while you are carrying debt from a balance transfer.
Foreign exchange fee. When making purchases while travelling overseas, a fee of 3.3% of the transaction amount is charged. Fees charged will be reflected as a single amount on your credit card statement.
Credit limits. This card has a minimum credit limit of $6,000 and a maximum of $30,000, depending on your income and credit history.