Virgin Australia Velocity Flyer Card – Rates and Fees

Information verified correct on December 11th, 2016
Virgin Australia Velocity Flyer Card - Balance Transfer Offer Find out more Go to site

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Earn bonus Velocity Points as you spend, save with a reduced annual fee and access premium perks such as the Platinum Concierge Service and exclusive annual flight benefit with the Virgin Australia Velocity Flyer Card.

The Virgin Australia Velocity Flyer Card gives you the ability to earn bonus points for every $1 spent in your first three months from card approval. If you're looking to keep your credit card costs low, the promotional balance transfer offer and the reduced annual fee for the first year could come in handy. Plus, you'll also enjoy up to 44 interest-free days on purchases if you use your card in the right manner, and complimentary insurance covers. Compare the features and discover how you can earn rewards and cut costs with the Virgin Australia Velocity Flyer Credit Card.

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

If you’re a loyal Virgin Airlines customer, the Virgin Australia Velocity Flyer Card can be a good way to earn Velocity Points to fly to more than 600 destinations around the world. With your choice of a promotional balance transfer, a reduced annual fee or bonus Velocity Points, you can cater the features of the Velocity Flyer Card to suit your needs.

You can turn to a global concierge service for 24/7 assistance anywhere in the world. You'll also enjoy complimentary travel insurances for some added peace of mind and can look forward to making use of Visa Platinum Benefits to get first choice of seats to some of the best events in Australia.

Benefits of the Virgin Australia Velocity Flyer Card

Here are some of the benefits you can expect from this card:

  • Bonus Velocity Points. In your first three months, you can earn 2 bonus Velocity Points on top of the standard earn rates for every $1 spent on everyday purchases (10,000 capped points per month).
  • Balance transfer offer. You can use this card to transfer balances from existing cards and pay no interest on transferred balances for 18 months, thereby saving considerably in the form of interest. To take advantage of this balance transfer offer, you have to apply before 16 January 2017.
  • Complimentary insurances. Purchases you make using this card receive protection through the guaranteed pricing scheme, and when you use your card to book travel tickets you can make use of complimentary transit accident insurance.
  • Exclusive gift voucher each year. You'll receive an exclusive $129 Virgin Australia Gift Voucher each year. To be eligible for this perk, simply make a retail purchase with your card within two months before requesting your voucher to unlock your benefit and start booking your Virgin Australia flights or selected Virgin Australia holiday packages anytime within the first 6 months from voucher issue date.
  • Personal concierge. Like your own personal assistant, you can turn to this service at any time, from anywhere in the world for anything from booking a restaurant reservation, purchasing concert tickets or booking flights.

Features of the Virgin Australia Velocity Flyer Card

  • Annual fee. This card offers a reduced annual fee of $64 in the first year ($129 p.a. thereafter).
  • Balance transfer offer. Depending on the promotional offer you choose, you can take advantage of 0% p.a. on balance transfers for 18 months. At the end of the promotional period, any leftover balance starts attracting the card’s cash advance rate.
  • Rewards program. You’ll earn 1 reward point per $1 on any purchase with Virgin Australia, with the standard earn rate of  0.66 Velocity Points per dollar spent up to $1,500 per month and then 0.5 Points per dollar thereafter. Also, as an introductory offer, you can earn 2 bonus Velocity Points for every $1 spent within the first three months of card approval (capped at 10,000 bonus Points per month) and that's on top of your standard earn rates.
  • Interest-free days. If you pay your account’s closing balance in its entirety every month, you can make use of as many as 44 interest-free days on purchases.
  • Visa payWave. This card comes with payWave technology, so you can use your card to make contactless payments for purchases of up to $100 anywhere you see the payWave symbol.

How to apply for the Virgin Australia Velocity Flyer Card

You can complete and submit your Virgin Australia Velocity Flyer credit card application within 10 to 15 minutes. Before you apply, though, make sure you meet the eligibility criteria and include the necessary documents:

Eligibility criteria

  • You are over 18 years old
  • You are an Australian citizen or a permanent Australian resident
  • You earn $35,000 p.a. or more
  • $6,000 minimum credit limit
  • You have good credit rating

Required information

To complete the application successfully you have to provide the following information:

  • Personal details like your complete name, date of birth, marital status, and number of dependents
  • Contact details like your residential status, residential address, email address, and phone number
  • Employment related information like your employment status and your employer’s name and contact details
  • Information about your income and expenses
  • Any information about relevant assets and liabilities
  • Details of accounts you wish to transfer balances from (if applicable)

The Virgin Australia Velocity Flyer Card could be a worthwhile option for Velocity Frequent Flyers who are looking to get extra perks for paying on plastic. As its not the only frequent flyer card on the market, though, make sure to compare your options before applying.

Frequently asked questions

Can I redeem my Velocity Points only for flight tickets?

You can redeem your Velocity Points for flight tickets, flight upgrades, hotel reservations, car hire, or a range of merchandise through the Velocity store.

Will the Velocity Points I earn expire?

Your Velocity Points only expire if don't earn or redeem them at least once every 24 months.

Can I transfer my Velocity Points to any other frequent flyer program?

Yes, you can transfer your Velocity Points to your Singapore Airlines KrisFlyer account.

What is the minimum credit limit of the Virgin Australia Velocity Flyer Card?

The minimum credit limit of this card is $6,000.

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244 Responses to Virgin Australia Velocity Flyer Card – Rates and Fees

  1. Default Gravatar
    Peter | November 19, 2016

    Can I transfer my existing balance from an ANZ Platinum card to a Virgin credit card?

    • Staff
      May | November 19, 2016

      Hi Peter,

      Thanks for your question.

      Yes, so long that you meet the eligibility criteria and requirements of the Virgin credit card, you can request a balance transfer from an ANZ credit card. Please note though that the total amount you can transfer should not exceed the credit limit you’re approved for the new card. 

      Hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    Beth | October 13, 2016

    Hi is a balance transfer possible from a westpac credit card or flexi loan to this card?
    Thanks

    • Staff
      May | November 4, 2016

      Hi Beth,

      Thank you for your inquiry.

      Yes, transferring a balance from your Westpac card or personal loan is possible for this Virgin Australia Velocity Flyer Card. Please note though that the total amount you can transfer onto this account should not exceed the 80% of the available credit limit.

      Cheers,
      May

  3. Default Gravatar
    Lynne | October 12, 2016

    Can I arrange a Balance Transfer from a business credit card?

    • Staff
      May | November 4, 2016

      Hi Lynne,

      Thank you for your question.

      Sorry for the delayed reply. Yes, you can, so long that the account name on both cards is the same.

      Cheers,
      May

  4. Default Gravatar
    Andy | September 26, 2016

    Do you get FF points for the balance transfer amount?

    • Staff
      May | September 26, 2016

      Hi Andy,

      Thanks for your question.

      Unfortunately, balance transfers are not classified as “eligible purchases”, so these do not let you earn frequent flyer points. The same is true for all other credit cards.

      Cheers,
      May

  5. Default Gravatar
    carl | September 6, 2016

    what is the minimum payment per month on this card? is it say 2% of outstanding balance per month or what please?

    • Staff
      May | September 6, 2016

      Hi Carl,

      Thanks for your question.

      The minimum monthly repayment for the Virgin Australia Velocity Flyer Card is 2% of your outstanding balance. If you want to know how you can calculate your minimum repayment each month, please feel free to visit this page.

      Cheers,
      May

  6. Default Gravatar
    Jayne | August 31, 2016

    Hi, I noticed the criteria for a balance transfer is that is must be from another financial institutions credit card. Can you tell me if the balance transfer is also available from another institutions loan account (not a credit card). Thanks

    • Staff
      May | August 31, 2016

      Hi Jayne,

      Thanks for your inquiry.

      Yes, it’s possible to transfer a balance from personal loans to a credit card, however, among the credit card issuers, only Citibank and Virgin Money let you do that. You can compare your balance transfer credit card options on this page.

      Hope this helps.

      Cheers,
      May

  7. Default Gravatar
    Tarrene | August 9, 2016

    I want to transfer my Once Credit card to Virgin how ca you help me do this please

    • Staff
      May | August 9, 2016

      Hi Terrence,

      Thanks for getting in touch.

      If you want to conduct a balance transfer from Once Credit card to Virgin Australia Velocity Flyer Card, you’ll need to apply for the Virgin card first. Any balance transfer promotional interest rates are available for a period of up to 30 days after you apply for the card and are approved for the card. Make sure you review the criteria and requirements before you submit your application.

      I hope this helps.

      Cheers,
      May

  8. Default Gravatar
    Mat | July 25, 2016

    My wife and I are pensioners supplementing our pension with a small business – combined our small business and our pension exceed the $35K requirement. Would we be eligible for a joint card?

    • Default Gravatar
      Mat | July 25, 2016

      Thanks May but I was referring specifically to the Virgin Velocity Card. The links in your reply take me to pages dealing generally with bank provided card requirements. I am unable to glean the information I am trying to obtain.

    • Staff
      May | July 26, 2016

      Hi Mat,

      Thank you again for your comment.

      I apologise if you were not able to get the information you need.

      Virgin Money (issuer of Virgin Australia Velocity Flyer Card) actually accepts credit card applications from pensioners but please keep in mind that they are not among the banks that allow joint credit card applications.

      If you or your wife will apply for the Virgin Australia Velocity Flyer Card, you must provide the bank with the following:

      1.) A letter from Centrelink showing your name and the permanent government pension amount.
      2.) 3 most recent bank statements showing applicant’s regular Centrelink payments.
      3.) Your annual superannuation statement, which includes an indexed pension amount, or one most recent self-managed superannuation tax return less than 15 months old.

      Hope this helps.

      Cheers,
      May

    • Staff
      May | July 25, 2016

      Hi Mat,

      Thank you for your question.

      Since you and your wife are already receiving a pension, you may want to check this page where credit card issuers are listed that accept applications from pensioners. When you click on the name of the bank, you’ll be redirected to our page where you can find the credit cards they offer.

      Meantime, for your guide, please feel free to visit this page so you would find which banks allow joint credit card applications.

      If you’ve already found a card that you wish to apply for, please read the criteria and requirements or yet contact the back to discuss your chances of approval before submitting your application. This way, you’ll be able to avoid enquiries on your credit file.

      Hope this helps.

      Cheers,
      May

  9. Default Gravatar
    Mario | July 21, 2016

    Hi, How much is the balance transfer fee for this card?

    • Staff
      Anndy | July 21, 2016

      Hi Mario,

      Thanks for your comment.

      There is no balance transfer fee for the Virgin Australia Velocity Flyer Card.

      Cheers,
      Anndy

  10. Default Gravatar
    Renee | July 19, 2016

    From approval of the card, how long does the process take until you receive your card?

    • Staff
      Ysa | July 19, 2016

      Hi Renee,

      You will typically receive your credit card within 1-2 weeks from the time your application has been approved.

      I hope this helps.

      Cheers,
      Ysa

Credit Cards Comparison

Rates last updated December 11th, 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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