The Virgin Australia Velocity Flyer Card – Balance Transfer Offer

Virgin Australia Velocity Flyer Card - Balance Transfer Offer Find out more Go to site

Don't worry, by clicking "Go to site" this won't leave a mark on your credit file. An enquiry will only appear on your file once you have submitted a credit card application.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Take advantage of a balance transfer offer of 0% p.a. for 18 months with no BT fee and redeem your points for travel rewards with Virgin.

Receive a $129 annual fee refund for the first year and enjoy a yearly $129 Virgin Australia Gift Voucher. Take advantage of a long-term balance transfer offer and earn Velocity Points to put towards your next holiday.

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 date31 October 2017
Annual fee$129 p.a.
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$129 p.a.
Minimum Repayment2%
Late Payment Fee$10
Over Limit Fee$0
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.
  • Earn 3 bonus Velocity Points on top of the standard earn rate in the first 3 months on everyday spend.
  • Receive $129 Virgin Australia Gift Voucher each year.
  • Get the $129 annual fee refunded in the first year.

Cons

  • An interest rate of 20.74% p.a. applies on purchases.
  • $35,000 minimum income required per year to be eligible.
Rewards ProgramVelocity Rewards
Rewards Points per $ (VISA/MC)0.66
Rewards Points per $ (VISA/MC) Cap10,000
Points Expiry24 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 potentially save money on interest by transferring any 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:

  • Balance transfer offer. Choose to consolidate some of your debt by transferring credit and store card balances to your new Velocity Flyer card. Apply by 31 October 2017 and take advantage of 0% p.a. interest for 18 months with no balance transfer fee. After that 18-month period, the rate reverts to the cash advance interest rate of 20.99% p.a.
  • $129 gift voucher each year. You’ll receive a $129 Virgin Australia Gift each year – which can be used to cover your annual fee. Just make a retail purchase with your card within 2 months before requesting your voucher to unlock your benefit to be eligible for this perk. You may also use your voucher for booking 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 0.66 Velocity Points per $1 spent on eligible purchases up to $5,490 per month (you'll earn 0.5 Velocity Points per $1 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.

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. This card offers an annual fee refund of $129 in the first year, when you spend $1,000 per month on eligible transaction for the first 6 months.
  • Rewards program. You earn 0.66 Velocity Points for every dollar you spend up to $5,490 per month, after which every $2 you spend earns 1 Velocity Point.
  • 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 years old.
  • 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 0% p.a. on balance transfers and an annual fee refund 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

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.

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

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

Back to top
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

2 Responses

  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
      ElizabethJanuary 16, 2015Staff

      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 September 26th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Until 1 October 2017, exclusive to finder.com.au, enjoy a no BT fee, balance transfer offer with platinum privileges, including travel insurance.
St.George Vertigo Visa
13.24% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$55 p.a.
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.

Compare up to 4 providers

* 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.

Ask a question
feedback