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Take your next holiday sooner with a card that allows you to earn up to 60,000 bonus points in the first 3 months.
The Virgin Australia Flyer lets you choose an introductory offer that meets your needs. Choose option number three and you are able to enjoy up to 60,000 bonus points in the first 3 months from card approval. As if that’s not enough, you also get 0% p.a. on any transferred balances for 18 months.
| Product Name | Virgin Australia Velocity Flyer Card - Bonus Points Offer |
|---|---|
| Rewards Program | Velocity Rewards |
| Balance transfer rate (p.a.) | 0% p.a. for 18 months |
| Balance Transfer Revert Rate The interest rate after the balance transfer ends. | Cash Advance Rate (20.99% p.a.) |
| Balance Transfer Limit | 80% of available credit limit |
| Purchase rate (p.a.) | 20.74% p.a. |
| Offer end date | 31 October 2017 |
| Annual fee | $64 p.a. annual fee for the first year ($129 p.a. thereafter) |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 44 days on purchases |
| Cash advance rate (p.a.) | 20.99% p.a. |
| Min credit limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $6,000 |
| Max credit limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $100,000 |
| Minimum Monthly Repayment | 2% |
| Minimum Income | $35,000 |
| Card Type | Visa |
| Late Payment Fee | $10 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3.3% of transaction value |
| Complimentary Travel Insurance | No |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Income | $35,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available to Temporary Residents | No |
| Credit Rating Requirement Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here. | Good |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $6,000 |
| Max Credit Limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $100,000 |
| Annual Fee | $64 p.a. annual fee for the first year ($129 p.a. thereafter) |
|---|---|
| Minimum Repayment | 2% |
| Late Payment Fee | $10 |
| Over Limit Fee | $0 |
| Cash Advance Fee | $2.70 per transaction on cash advance <$100; 2.7% of the transaction amount for $100 & over |
| Overseas Cash Advance Fee | $5 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3.3% of transaction value |
| Gambling Transactions Allowed | No |
| Additional Cardholder Fee | $39 p.a. |
| Number of Additional Cardholders | 4 |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | No |
| Internet Banking Transfers | No |
| In Branch | No |
| Yes |
Pros
- Earn 20,000 Velocity Points each month you spend $1,500 on eligible transactions for the first 3 months (up to 60,000 points).
- Balance transfer offer of 0% p.a. for 18 months with no BT fee.
- Earn Velocity Points on everyday spend.
- Receive a complimentary Transit Accident Insurance.
Cons
- Relatively high purchase rate of 20.74% p.a. if you carry a balance.
- You only receive up to 44 days interest-free on purchases as opposed to other platinum card, which offer up to 55 interest-free days.
| Rewards Program | Velocity Rewards |
|---|---|
| Bonus Points on Sign-up | 60,000 |
| Rewards Points per $ (VISA/MC) | 0.66 |
| Points Expiry | 24 months |
Virgin Australia Velocity Flyer Card review
The Virgin Australia Velocity Flyer Card is partnered with one of Australia’s premiere airline loyalty programs, giving you the opportunity to earn unique rewards on flights and receive travel benefits that allow you to enjoy your holiday more. Jet set around the country with a friend up to four times a year and receive a reduced airfare from Virgin Australia Domestic, or fly overseas with the security of complimentary travel insurance.
You get the added benefit of up to 60,000 bonus points in the first 3 months when you meet the spending requirements. When you couple that with the 0% p.a. interest for 18 months on balance transfers, you could save enough to help finance your travels. If these perks pique your interest, then add this card to your list of those that you want to examine more closely.
Benefits of the Virgin Australia Velocity Flyer Card
When you shop using the Flyer credit card issued by Virgin Money, you get to enjoy a number of unique benefits:
- Bonus points offer. Receive up to 60,000 bonus points. Earn 20,000 Velocity Points each month you spend $1,500 on eligible transactions for the first 3 months (up to 60,000 points).
- Balance transfer. No interest on your transferred balances for 0% p.a. for 18 months following activation of your card. After that introductory rate ends, the rate reverts to a 20.99% p.a.
- 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.
- Complimentary insurance. For travelling, transit accident insurance covers you in the event of an accidental injury or death while moving from one place to the next. This is contingent on you purchasing the tickets in advance with your Flyer credit card. You are also insured for the balance of any purchase you make where you find the same item at a lower price within 60 days.
- Interest-free days. You can save with up to 44 days of no interest on purchases provided that you pay your balance in full by the due date on each statement.
- Exclusive gift voucher each year. You will be able to enjoy an exclusive $129 Virgin Australia Gift Voucher each year – that’s your annual fee covered. All you have to do is make a retail purchase with your card within two months before requesting your voucher to unlock your benefit. You can use this when booking Virgin Australia flights or selected Virgin Australia holiday packages anytime within the first six months from voucher issue date.
Features of the Virgin Australia Velocity Flyer Card
The Virgin Australia Velocity Flyer Card provides the following features:
- Annual fee. A discounted annual fee will be charged for the first year ($129 p.a. thereafter) along with an annual fee of $39 for each additional card.
- Cash advance fees. A domestic fee of $2.70 per transaction is charged for cash advances of $100 or less. Upwards of $100 a fee equal to 2.7% of the amount advanced will be applied. The international cash advance fee of $5 applies for amounts of $1,000 or more withdrawn with the Velocity Flyer Credit Card.
- Foreign exchange fee. When making purchases while travelling overseas, a fee equal to 3.3% of the transaction amount is charged. Fees charged will be reflected as a single amount on your credit card statement.
- Overlimit fee. As long as cardholders don't exceed their credit limits, they avoid paying the $40 fee. In certain cases, clients can request that charges taking them over the limit not be processed until a later date.
- Over-the-counter fees. Cardholders are charged $2.50 for every transaction made over the counter at a Bank@Post office. To avoid this fee, transactions can be conducted online, by telephone or by direct debit.
- Late payment fee. This fee is charged every seven days following a late payment. Simply ensuring that the account balance covers the minimum payment being debited will spare cardholders this fee. The late payment fee is $10 per week.
- Card type. You get the flexibility of Visa, which is accepted around the world and online as a preferred form of payment.
- Minimum credit limit. The credit limit for this card starts at $6,000 but can go as high as $100,000 depending on your income and credit history.
How to apply for the Virgin Australia Velocity Flyer Card
If you have decided which card offer is right for you, complete the secure online application to apply for this card. There are some requirements you will have to meet before Virgin Money will consider your application.
Eligibility criteria
- You must be at least 18 years old.
- You will need to be earning at least $35,000 a year.
- Only permanent residents of Australia will be considered for this credit card offer.
- Your recent credit history should be in good standing.
- Virgin Money will find you ineligible if you have recently had your application for another credit card denied.
- You must be willing to accept a credit limit of at least $6,000.
Required documents
- Your full name, address and driver’s license number will be required
- Have ready your full name and contact information for your current employer
- You will need to reveal your annual pre-tax salary along with any other income sources and amounts, such those derived from dividends.
- A complete listing of all of your expenses including your share of living expenses and active credit cards and loans
While many credit cards choose to combine all of their benefits, the Virgin Australia Velocity Flyer Card maximises each one by offering it separately. Look at other offers before committing to this one to make sure you find one to give you notable benefits.
Frequently asked questions
Will I be charged a fee for the balance transfer?
No, there is no balance transfer fee with this card.
Am I eligible for this credit card offer if I am in Australia on a temporary work visa?
Unfortunately, this card is only available for permanent residents of Australia.
Are the points I can earn capped each year?
No, you can earn as many points as you want, but there is a $1,500 spend limit for each statement period for the higher points earn rate.
Does the spend limit apply to my additional cardholder?
Yes, the combined amount of the primary and additional cards work towards the spend limit.
