The Virgin Australia Velocity Flyer Card – Balance Transfer Offer

Information verified correct on December 5th, 2016
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Lower your debt faster with a 0% p.a. balance transfer offer and redeem your points for travel rewards with Virgin.

Pay only $64 annual fee for the first year and enjoy an exclusive $129 Virgin Australia Gift Voucher each year. Take advantage of a low balance transfer offer and you'll end up with some extra cash to take on that holiday you've earned.

Product NameVirgin Australia Velocity Flyer Card - Balance Transfer Offer
Rewards ProgramVelocity 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 Limit80% of available credit limit
Purchase rate (p.a.)20.74% p.a.
Offer end date16 January 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 Repayment2%
Minimum Income$35,000
Card TypeVisa
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 InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
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 Repayment2%
Late Payment Fee$10
Over Limit Fee$40
Cash Advance Fee$2.70
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 AllowedNo
Additional Cardholder Fee$39 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingNo
Internet Banking TransfersNo
In BranchNo
MailYes

Pros

  • A 0% p.a. rate is applied for balance transfers for the first 18 months.
  • Half annual fee for the first year
  • Earn 2 bonus Velocity Points in the first 3 months on everyday spend.
  • $129 Virgin Australia Gift Voucher each year

Cons

  • Applies an interest rate of 20.74% p.a. for purchases.
  • $35,000 minimum income required per year to be eligible.
Rewards ProgramVelocity Rewards
Rewards Points per $ (VISA/MC)0.66
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap0
Points Expiry36 months

Virgin Australia Velocity Flyer Card review

One of three cards offered through the Virgin Money Velocity program, this one focuses on getting you your free flights quicker. You can save money as well by transferring all of your other credit card balances to this one interest-free for 18 months.

Benefits of the Virgin Australia Velocity Flyer Card

The Virgin Australia Velocity Flyer Card is versatile, providing you with both saving and spending money benefits:

  • Exclusive gift voucher each year. You’ll receive an exclusive $129 Virgin Australia Gift each year – which could be used to cover your annual fee. To be eligible for this perk, just make a retail purchase with your card within 2 months before requesting your voucher to unlock your benefit. You may use your voucher for booking your Virgin Australia flights or selected Virgin Australia holiday packages anytime within the first 6 months from voucher issue date. You’ll also be able to enjoy two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
  • Rewards program. This card is a part of the Virgin Australia frequent flyer program, allowing you to earn Velocity Points towards flights with the airline or any of their international partners. Earn 3 Points for every $1 on any spend with Virgin Australia and 1 Velocity Point per $1 spent on eligible purchases up to $10,000 per month and then 0.5 points per $1 spent thereafter.
  • Interest-free days. You get up to 44 days interest-free on your purchases so long as the account has no outstanding balance. This includes balances that you transferred from other credit cards.
  • Partner points. The frequent flyer program has a network of partners all around the world that include hotels, car rental companies, travel assistance and more. Using your card with any of these partners will earn you double points.
  • Balance transfer offer. Relieve some of your debt by transferring credit and store card balances to your new Velocity Flyer card and pay 0% p.a. interest for 18 months. After that 18-month period, the rate reverts to the cash advance interest rate of 20.99% p.a.

Features of the Virgin Australia Velocity Flyer Card

Before deciding that this is the right rewards card for you, its features should be weighed against some others. Compare the following to see how the Virgin Australia Flyer Card stands up to other cards in its class:

  • Annual fee. $129 will be charged to the card each year that it is open, except for your first year which only charges an annual fee of $64.
  • Rewards program. You earn 0.66 Velocity Point for every dollar you spend up to 1,500 per month, after which every $2 you spend earns 1 Velocity Point. When you use your card with Velocity partners, you can earn Points twice.
  • Credit limit. The minimum amount of credit given with this card is $6,000.
  • Interest rates. For balances on purchases, an interest rate of 20.74% p.a. will be applied, while cash advances are charged at a rate of 20.99% p.a.
  • Visa. This is a Visa credit card, allowing you to make purchases at millions of locations in Australia and around the world.
  • Additional cardholders. 4 additional cardholders are allowed with this account, with purchases made by them working towards your points balance.

How to apply for the Virgin Australia Velocity Flyer Card

Not only does this card make it easy to meet your travel plans, it’s easy to apply for.

Eligibility criteria

  • All applicants must be at least 18
  • Your annual income should be $35,000 or more
  • You must be a permanent resident of Australia
  • Your credit history should be in good standing, with no recent denials for credit on your report

Required documents

  • Your personal information including name, date of birth and address
  • Either your Australian driver’s licence number or your passport
  • Contact information for your employer or your accountant if you are self employed
  • Paystubs or bank statements that show your regular income
  • A list of all of your expenses and other liabilities, such as credit card and home loan statements
  • The full details of any credit card you are planning on transferring the balance from. This will have to include the institution name, your account number and the amount you want to transfer

The Virgin Australia Velocity Flyer Card for rewards points gives you a lot to think about. Bonus points are always a plus when you like travel rewards, while  on balance transfers and a discounted annual fee are features that could help save you money. Contemplate your choices carefully if you want to ensure that your rewards credit card is providing you with all of the benefits your point earning plans need.

Frequently asked questions

How will my payments be applied if I make purchases and have a balance transfer balance?

The newest items with the highest interest rates on your statement will always be paid first. In this case that would mean payments applied would go in the following order; cash advances, purchases, and then balance transfers. If you have plans on eliminating those transferred balances before the 18-month period ends, you will have to make payments that are greater than the combined total of your purchases and cash advances each month.

If my husband is an additional cardholder, will his purchases count towards a different rewards account?

No, any additional cards under the same account will be working towards the same rewards.

I want to learn more about the Velocity Frequent Flyer program.

Discover how you can earn points and redeem rewards with our Velocity Frequent Flyer guide.

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2 Responses to The Virgin Australia Velocity Flyer Card – Balance Transfer Offer

  1. Default Gravatar
    | January 15, 2015

    Hi

    Since the card offers the first year with no annual fee, do you have to pay any fees for cancelling the card early e.g. cancelling after 6 months use.

    Thanks,
    Ryan

    • Staff
      Elizabeth | January 16, 2015

      Hi Ryan,

      Thanks for your question.

      If you cancel your card before the 12-month period ends you will not incur any annual fees, as this is only charged after the first year. You also won’t be charged any fees for cancelling the card.

      I hope this has helped.

      Thanks,

      Elizabeth

Credit Cards Comparison

Rates last updated December 5th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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