Take your spending to new heights with a card that earns you points for flights and offers 0% p.a. interest on your purchases for the first 14 months.
The Virgin Australia Flyer gives you a choice of three introductory offers to suit different needs. With this option, you can enjoy a promotional 0% p.a. interest rate on purchases for 14 months and 0% p.a. on balance transfers for 6 months. You'll also earn Velocity Points per $1 spent on eligible purchases and can enjoy a $129 Virgin Australia gift voucher each year when you use this card. Offers end on 30 June 2018.
|Product Name||Virgin Australia Velocity Flyer Card - 0% Interest Offer|
|Rewards Program||Velocity Frequent Flyer|
|Balance transfer rate (p.a.)||0% p.a. for 6 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.)||0% p.a. for 14 months (reverts to 20.74% p.a.)|
|Offer end date||30 June 2018|
|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.
|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.
|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|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$129 p.a.|
|Minimum Monthly Repayment||2% or $30, whichever is greater|
|Late Payment Fee||$10|
|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|
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.
|Gambling Transactions Allowed||No|
|Additional Cardholder Fee||$39|
|Number of Additional Cardholders||4|
|Rewards Program||Velocity Frequent Flyer|
|Rewards Points per $ spent (VISA/MC)||0.66|
|Rewards Points per $ (VISA/MC) Cap||Uncapped|
Virgin Australia Velocity Flyer Card review
The Virgin Australia Velocity Flyer Card can help you earn frequent flyer points faster, offering 0.66 Velocity Points per $1 spent for the first $1,500 spent on eligible purchases and 0.5 points per $1 after that. It also offers you a $129 Virgin Australia gift voucher each year when you've made a retail purchase within two months of requesting the voucher and comes with complimentary transit accident insurance and a guaranteed pricing scheme.
During the introductory period, you get the added benefit of making purchases without interest charges for the first 14 months. When you couple that with the 0% p.a. interest for 6 months on balances transfers, you could save enough to fund your next holiday. In addition to these perks, the Velocity Flyer has an annual fee of $129 and a standard variable purchase rate of 20.74% p.a. that applies at the end of the introductory period.
Benefits of the Virgin Australia Velocity Flyer Card
When you shop using the Flyer credit card issued by Virgin Australia, you get to enjoy a number of unique benefits:
- Purchase rate offer. Apply and get approved by 30 June 2018 and you’ll pay 0% p.a. interest on purchases for the first 14 months. Any remaining balance attracts the standard variable purchase rate of 20.74% p.a. thereafter.
- Balance transfer. Enjoy no interest on your transferred balances for 6 months if you apply and get approved by 30 June 2018. After that introductory rate ends, the rate reverts to the standard cash advance rate of 20.99% p.a.
- Velocity Points. For the first $1,500 you spend on eligible transactions each month, you'll earn 0.66 Velocity Points per dollar spent. An earn rate of 0.5 Velocity Points per dollar spent will apply thereafter.
- $129 gift voucher each year. You will be able to enjoy a $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 6 months from voucher issue date.
- 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 through the "Guaranteed Pricing Scheme".
- Interest-free days. After your over 420 interest-free days expire, you can still save with up to 44 days of no interest on purchases provided that you pay your balance in full. Please note that interest-free days do not apply while you carry a balance transfer.
Features of the Virgin Australia Velocity Flyer Card
The Virgin Australia Velocity Flyer Card provides the following features:
- Annual fee. An annual fee of $129 applies for this card.
- Additional cardholders. If you want to share your account with someone, an additional cardholder annual fee of $39 applies for each additional card. Please note that you'll still be responsible for managing the account.
- Minimum payment. With this card, you'll need to pay 2% or $30, whichever is greater by the due date on each statement. Please note you need to pay at least the minimum each month, even during the introductory period.
- Cash advance fees. A domestic fee of $2.70 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.
- 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 want to take advantage of 0% interest on purchases for 14 months, you can apply for this card online in around 15 minutes. Before you get started, make sure you meet the following eligibility requirements and have all your relevant documents and details handy to speed up the process.
- How old are you? You must be at least 18 years old to apply for this card.
- Do you meet the minimum income requirement? As long as you earn $35,000 a year, you're eligible to apply for the Virgin Australia Velocity Flyer.
- What's your Australian residency status? Only citizens or permanent residents of Australia will be considered for this credit card offer.
- What's your credit score? You must have a good credit rating for this card.
- What sort of credit limit do you want? You must be willing to accept a credit limit of at least $6,000.
Required documents and details
Here's the information you'll need on hand to complete your application:
- Personal details. Your full name, address and driver’s license number will be required.
- Employment details. This includes the name and contact details for your current employer, as well as information about your role and the length of time you've worked there.
- Financial details. You will need to provide your annual pre-tax salary along with any other income sources and amounts, such those derived from dividends. You'll also need to share details of your financial commitments such as credit cards, loans and living expenses.
- Balance transfer information. If you decide to take advantage of the balance transfer offer, you'll need to provide the card or account number/s for any debts you want to transfer to the card.
While many credit cards come with an introductory offer for new cardholders, the Virgin Australia Velocity Flyer Card lets you choose between three. With this option, you can save on interest charges for new purchases during the first 14 months and also pay 0% p.a. on balance transfers for the first 6 months. Just remember to weigh up the ongoing features and fees of the card and compare it to other offers so you know you're applying for the one that suits your goals.