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Virgin Australia Velocity Flyer Card – Rates and Fees

Save with 0% p.a. on balance transfers for 18 months and a reduced annual fee in the first year, plus earn Velocity Points per $1 spent on new purchases.

This Virgin Australia Velocity Flyer offer combines an introductory 0% p.a. balance transfer rate with an annual fee of $64 in the first year (reverts to $129 p.a. thereafter).

It also offers bonus Velocity Points for every $1 you spend on eligible purchases in the first three months from card approval, in addition to the standard points earned for your spending. To take advantage of the introductory benefits, you need to apply and get approved by 30 June 2018.

Product NameVirgin Australia Velocity Flyer Card - Balance Transfer Offer
Rewards ProgramVelocity Frequent Flyer
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 date30 June 2018
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
Card TypeVisa
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
Minimum Income$35,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Minimum Monthly Repayment2% 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.
3.3%
of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$19 in the first year, then $39 p.a.
Number of Additional Cardholders4

Pros

  • A 0% p.a. rate is applied on balance transfers for the first 18 months.
  • Pay a discounted annual fee of $64 for the first year ($129 p.a. thereafter).
  • 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.

Cons

  • An interest rate of 20.74% p.a. applies on purchases.
  • A minimum annual income of $35,000 is required to be eligible for the card.
Rewards ProgramVelocity Frequent Flyer
Rewards Points per $ spent (VISA/MC)0.66

Virgin Australia Velocity Flyer Card review

This entry-level frequent flyer credit card gives you a way to get Velocity Points for your everyday spending, earning 0.66 Velocity Points per $1 spent on retail purchases up to $1,500 per statement period and 0.5 Velocity Points per $1 spent for the rest of the statement period. If you apply and are approved by 30 June 2018, you'll also get a bonus 3 Velocity Points per $1 spent on eligible transactions. This is on top of your standard earn rates and capped at 10,000 points per month.

As well as earning Velocity Points, this introductory offer also gives you a competitive balance transfer offer that you can use to consolidate debts from existing cards, personal loans or lines of credit that you have with other Australian financial institutions or providers. It also offers transit accident insurance, a guaranteed pricing scheme and access to the 24/7 Visa Platinum Concierge service.

Features and benefits of the Virgin Australia Velocity Flyer Card

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

  • Introductory balance transfer rate. This card offers 0% p.a. on balance transfers for the first 18 months when you apply and are approved before 30 June 2018. You must also request the balance transfer at the time of your application and can transfer balances from existing cards, personal loans and lines of credit when they are held in your name with other financial institutions. At the end of the promotional period, any leftover balance will be charged interest at the card’s cash advance rate.
  • Reduced first year annual fee. For the first year you hold the card you will be charged a $64 annual fee, reverting to $129 p.a. thereafter.
  • Bonus Velocity Points. In your first three months, you can earn 3 bonus Velocity Points on top of your standard earn rates for every $1 spent on eligible transactions (capped at 10,000 points per month).
  • Annual Virgin Australia Gift Voucher. This card offers you a $129 Virgin Australia Gift Voucher each year that you can use towards Virgin Australia flights or selected Virgin Australia holiday packages. You can claim your gift voucher 30 days after card approval in your first year (30 days after your card anniversary thereafter). You also need to make a retail purchase as the Primary Cardholder in the two months prior to requesting your voucher, keep your account in good standing and be a Velocity Frequent Flyer member. Note that the gift voucher can be used anytime within 6 months from voucher issue date.
  • Rewards program. Separate from any bonus points offer, you will earn 0.66 Velocity Points per $1 spent on retail purchases up to $1,500 (990 points) per statement period. After the $1,500 spend, you'll earn 0.5 Velocity Points per $1 spent thereafter.
  • Complimentary insurance policies. Purchases you make using this card receive protection through a guaranteed pricing scheme, which helps cover the cost if you buy an eligible item and then see it elsewhere at a lower price. If you use your card to book overseas travel, you can also get complimentary transit accident insurance to help cover the cost of any injuries you sustain while riding as a passenger outside Australia. For full details of this cover, refer to the Complimentary Insurance Terms and Conditions available on the Virgin Money website.
  • Personal concierge service. Like your own personal assistant, you can turn to this Visa Platinum service at any time, from anywhere in the world for help with tasks such as booking a restaurant reservation, purchasing concert tickets or organising flights.

Rates and fees of the Virgin Australia Velocity Flyer Card

  • Annual fee. This card offers an annual fee of $64 in the first year before reverting to a standard fee of $129 p.a. thereafter.
  • Purchase rate. This card has a standard variable interest rate of 20.74% p.a. for purchases.
  • Interest-free days. If you pay your account’s closing balance in full by the due date on each statement, you take advantage of up to 44 interest-free days on purchases.
  • Cash advance rate. This card charges a cash advance interest rate of 20.99% p.a. Note that cash advance transactions are charged interest from the day they are made and also attract a cash advance fee.
  • International transaction fee. If you use this card overseas or online with an international retailer, you'll pay a fee worth 3.3% of the total transaction cost.
  • 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 apply for the Virgin Australia Velocity Flyer with this balance transfer offer online in around 10 minutes. Before you apply, make sure you meet the eligibility criteria and have all the relevant documents and details ready:

Eligibility criteria

  • Are you over 18 years old? You must be at least 18 years of age to apply for this credit card.
  • What is your Australian residency status? You should be an Australian citizen or a permanent Australian resident.
  • Do you meet the minimum income requirements? To apply for this card, you'll need to earn $35,000 or more per year.
  • Can you manage a $6,000 credit limit? This is the minimum credit limit available for this card.
  • Do you have a good credit rating? You're only eligible to apply for the Virgin Australia Velocity Flyer if you have a good credit rating. If you're not sure what your credit rating is, you can check out this guide on credit scoring and get a free credit score.

Documents and details

  • Personal information. This includes your full name, date of birth, contact details, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence or passport number.
  • Employment details. You'll need to provide information such as your employment status, salary and your employer’s name and contact details. You may also need to submit recent payslips or your latest tax assessment notice to verify your employment and income.
  • Financial information. This includes details of any other forms of income or assets, such as savings, as well as existing debts. You'll also need to estimate your regular household expenses, including rent or mortgage payments, electricity bills and grocery shopping.

The Virgin Australia Velocity Flyer offers Velocity benefits, including points per $1 spent and a $129 Virgin Australia Gift Voucher that could help offset the cost of the annual fee. As its not the only frequent flyer card on the market, make sure you compare your options before applying.

Frequently asked questions

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    265 Responses

    1. Default Gravatar
      August 28, 2017

      Hi just wondering if the points are still earned if I use this card for direct debits and bpay bills only?

      • finder Customer Care
        HaroldAugust 28, 2017Staff

        Hi Curious,

        Thank you for your inquiry.

        Generally, eligible Transaction means any purchase excluding (but not limited to) Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, bank fees and charges such as interest and ATM charges and government related transactions. Government related transactions include transactions with government or semi-government entities, or relating to services provided by or in connection with government (for example but not limited to transactions made at Australia Post, payments to the Australian Taxation Office, council rates, motor registries, tolls, parking stations and meters, fares on public transport, fines and court related costs).

        I hope this information has helped.

        Cheers,
        Harold

    2. Default Gravatar
      RobJuly 25, 2017

      What is meant by the no fee “long-term” balance transfer exclusive offer for applications by 31 July 2017. And to be eligible for this offer, does your application need to be made and approved by 31 July or can the offer stand if approved after 31 July?

      • Default Gravatar
        JonathanJuly 25, 2017

        Hello Rob,

        Thank you for sending your inquiry today. :)

        As per T&Cs of Exclusive Finder offer Virgin Australia Velocity Flyer Card, line #2 states:

        0% p.a. on Purchases for new Virgin Australia Velocity Flyer Credit Card customers only for the period shown above from the date your account is approved.

        Hence, it needs to be approved from 3 April 2017 to 31 July 2017 offer period.

        Hope this clarifies.

        Cheers,
        Jonathan

    3. Default Gravatar
      NatJuly 17, 2017

      What does 80% of available credit limit mean?

      • finder Customer Care
        LiezlJuly 17, 2017Staff

        Hi Nat,

        Thanks for your question.

        This is the maximum percentage of your credit limit which you can use to cover the debts you wish to transfer. Say your approved credit limit is $20,000, you can transfer debts from other credit cards up to $16,000. For more information on balance transfer limit, you may read our guide on this page.

        Cheers,
        Liezl

    4. Default Gravatar
      July 9, 2017

      Hi, it states in the information above on Virgin that if you apply through finder, there is no balance transfer fee. How do you do this when it redirects you to the Virgin site?

      • finder Customer Care
        RenchJuly 9, 2017Staff

        Hi Helen,

        Thanks for your inquiry.

        As long as you have clicked on the green ‘Go to Site’ button above this page, the exclusive offer for this card will be applied. You may continue submitting an online application form through Virgin Australia official site.

        Cheers,
        Rench

    5. Default Gravatar
      JonathanJune 6, 2017

      Hi Chris!

      Thanks for the comment.

      Yes, you may request a balance transfer from two card sources at the same time, as long as it is within 80% of the balance transfer limit and approved by the bank’s credit guidelines.

      Click “Go to Site” green button to proceed with your application.

      Hope this helps.

      Cheers,
      Jonathan

    6. Default Gravatar
      TerriMarch 30, 2017

      Hi, if i sign up a new virgin credit card, do I need to arrange the balance transfer upon signing or can I do this shortly after approval?

      • finder Customer Care
        LouMarch 30, 2017Staff

        Hi Terri,

        Thanks for your question.

        With Virgin Money, you can apply for a balance transfer during the application process for a new Virgin Money credit card.

        If you are an existing customer or have already applied for a new card, you may call 13 37 39 to discuss your options should you wish to transfer a balance from another card.

        Cheers,
        Anndy

    7. Default Gravatar
      FaykisMarch 10, 2017

      Hi how is the personal loan balance transfer paid to the personal loan account? Do you offer check? Or BPay?

      • finder Customer Care
        LouMarch 10, 2017Staff

        Hi Faykis,

        Thanks for your question.

        Generally, balance transfer is a bank-to-bank transaction. Virgin Money will process the payment of your personal loan to the lender. However, you also have the option to request a cheque-to-self drawn on your account. A cheque-to-self is a cheque made out in your name that you can use for paying your personal loan or for any purpose.

        Cheers,
        Anndy

    8. Default Gravatar
      CaseyFebruary 9, 2017

      Hi,

      For the balance transfer it states that you need a min credit limit of $6000. But can i transfer less then that?
      also, once i get approved how do i transfer my credit debt from my other credit card?

      thanks

      • finder Customer Care
        MayFebruary 9, 2017Staff

        Hi Casey,

        Thank you for your question and for contacting finder.com.au – we financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site so can only offer a general advice.

        Basically, when you apply for a balance transfer credit card, you are assigned a “credit limit.” This limit affects your balance transfer as you can only use a certain percentage of it to move existing debts. For instance with this Virgin Australia Velocity Flyer Card, if you’re approved for the minimum credit limit of $6,000, you would only be allowed to transfer up to 80% of $6,000.

        To apply for a balance transfer, you need to go through the process of applying for the credit card, so it is important that you review the eligibility criteria of the card before you apply. Meantime, there’s a section in your application, where you’re asked whether or not you want to transfer a balance from another account. Select, or answer, “yes” and you’ll then be prompted to enter the account number, the amount you want to transfer and the name of the institution you’re transferring from. Please note though that you can’t transfer a balance to a credit card that is also underwritten by the same institution – for your guide please refer to this page. If you’re approved for the card, that means you’re also approved for the balance transfer.

        More information about how balance transfer works on this page.

        Hope this helps.

        Cheers,
        May

    9. Default Gravatar
      February 2, 2017

      Hi,

      I currently have a different credit card with Virgin Money with $0 owing.

      Would I be eligible to apply for this product and balance transfer from my other credit card?

      Thanks very much.
      Grace

      • finder Customer Care
        MayFebruary 3, 2017Staff

        Hi Grace,

        Thank you for your inquiry.

        If you think you’ve met the eligibility criteria set for the Virgin Australia Velocity Flyer Card, then you can apply. Simply click on the ‘Go to site’ button above to submit your application. Please note though that if you will conduct a balance transfer onto this card, you must not transfer a debt from a card that is underwritten by Citibank or a card issued by Virgin Money. Please see a guide here.

        Cheers,
        May

    10. Default Gravatar
      TonyJanuary 19, 2017

      Can I transfer a balance from a Citibank card ?

      • finder Customer Care
        LouJanuary 19, 2017Staff

        Hi Tony,

        Thanks for your question.

        Yes, you can transfer your balance from Citibank to Virgin Australia Velocity Flyer Card.

        You can check this page to know where else you can balance transfer to.

        Cheers,
        Anndy

    Credit Cards Comparison

    Rates last updated June 25th, 2018
    Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
    Westpac Low Rate Card
    13.49% p.a.
    0% p.a. for 24 months with 1% balance transfer fee
    $0 p.a. annual fee for the first year ($59 p.a. thereafter)
    Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
    American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
    20.24% p.a.
    $50 p.a. annual fee for the first year ($249 p.a. thereafter)
    Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
    HSBC Platinum Credit Card
    19.99% p.a.
    0% p.a. for 22 months with 2% balance transfer fee
    $0 p.a. annual fee for the first year ($129 p.a. thereafter)
    Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
    NAB Low Fee Card
    19.74% p.a.
    0% p.a. for 18 months with 2% balance transfer fee
    $30 p.a.
    Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
    Citi Platinum Credit Card - 100k Bonus Points
    20.99% p.a.
    0% p.a. for 15 months with 1% balance transfer fee
    $49 p.a. annual fee for the first year ($149 p.a. thereafter)
    Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.

    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.

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