In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
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Virgin Australia Velocity Flyer Card – Balance Transfer Offer

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Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Terms and conditions apply
Balance transfer rate for 24 months with no balance transfer fee
0% p.a.
Purchase rate
20.74% p.a.
Reward points per $ spent
0.66
Annual fee for the first year ($149 p.a. thereafter)
$0 p.a.

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.

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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.

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

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews

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.

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

Congratulations, Virgin!

The Virgin Australia Velocity Flyer Card consistently had a competitive balance transfer offer during the period of analysis. This included a 0% balance transfer interest rate for 24 months, with no balance transfer fee and no annual fee in the first year (then $129 per year). This card also accepts balance transfers from personal loans as well as cards, while many other credit cards only accept card debt.

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.

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.

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.

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