Virgin Australia Velocity Flyer Card – Balance Transfer Offer

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Save with 0% p.a. on balance transfers for 22 months and 50% off the annual fee for the first year.

Save money with this introductory offer from Virgin Money by taking advantage of 0% interest on balance transfers for the first 22 months (with a 1% balance transfer fee). Plus, a $64 annual fee for the first year when you apply by 02 December 2019.

0% p.a.

Balance transfer rate

for 22 months with 1% balance transfer fee

30,000

Bonus points

20.74% p.a.

Purchase rate

0.66

Reward points

Per $ spent (Visa/Mastercard)

Details

Product NameVirgin Australia Velocity Flyer Card - Balance Transfer Offer
Rewards ProgramVelocity Frequent Flyer
Balance transfer rate0% p.a. for 22 months with 1% balance transfer fee
Balance Transfer Revert RateCash Advance Rate (20.99% p.a.)
Balance Transfer Limit80% of available balance
Purchase rate (p.a.)20.74% p.a.
Annual fee$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Interest Free Period55 days
Cash Advance Rate20.99% p.a.
Minimum Credit Limit$6,000
Maximum Credit Limit$100,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3.3% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Joint ApplicationNo

Pros

  • 0% interest on balance transfers for the first 22 months
  • Discounted first year annual fee of $64
  • 3 bonus Velocity Points per $1 spent in the first 3 months
  • $129 Virgin Australia Gift Voucher each year

Cons

  • Charges a 1% balance transfer fee
  • Purchase interest rate of 20.74% p.a. is relatively high
  • A 3.3% of transaction value fee applies to transactions made in a foreign currency
Rewards ProgramVelocity Frequent Flyer
Bonus Points30,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)0.66
Rewards Points per $ Cap (Visa/Mastercard)Uncapped
Annual fee$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Minimum Monthly Repayment2% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (Visa/Mastercard)3.3% of transaction value
Cash Advance Fee2.7% or $2.70, whichever is greater
Overseas Cash Advance Fee$5
Additional Cardholder Fee$39
Number of Additional Cardholders4

Expert review

Amy Bradney-George

Review by


Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Expert review

The Virgin Australia Velocity Flyer is an entry-level frequent flyer credit card that is currently offering a long 22-month interest-free balance transfer, a reduced $64 first year annual fee and up to 30,000 bonus Velocity Points.

While these are all great features, if you're taking advantage of the balance transfer offer, you should focus on paying down your existing debt and make sure not to spend beyond your budget for the sake of bonus points. This is especially true as you do not get any interest-free days on new purchases while you have a balance transfer.

How to apply

You can apply for the Virgin Australia Velocity Flyer online in around 10 minutes and will need to apply by 02 December 2019 to take advantage of the balance transfer offer. To get started, make sure you meet the eligibility requirements and have the documents and details you'll need for the application.

Eligibility criteria

  • Eligible balance transfer debt. You can transfer from $500 up to 80% of your available credit limit from Australian accounts not issued by Citigroup; this includes credit cards, store cards, personal loans and lines of credit.
  • Minimum income. You must earn a minimum of $35,000 a year to apply for this card.

Card benefits

  • Balance transfer. Apply by 02 December 2019 and save with 0% interest on your transferred balances for the first 22 months with a one-time, 1% balance transfer fee. After the introductory period expires, any unpaid balance will be charged interest at the cash advance rate, currently 20.99% p.a. Please note that you will not earn points on balance transfers and a balance transfer debt disqualifies you from interest-free days on new purchases.
  • $64 first year annual fee. Save $65 with 50% off the first year's annual fee when you apply by 02 December 2019 (annual fee reverts to $129 per year thereafter).

Rates & fees

  • Interest rates. This card charges an interest rate of 20.74% p.a. on purchases and 20.99% p.a. on cash advances.
  • Interest-free days. You can save with up to 55 days interest-free on purchases provided that you pay your balance in full by the due date on each statement. Please note that you are not eligible for interest-free days while you are carrying debt from a balance transfer and that statements issued after 1 November 2019 will reflect an increased interest-free period of up to 55 days.

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265 Comments

  1. Default Gravatar
    Curious
    August 28, 2017

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

    • AvatarStaff
      Harold
      August 28, 2017

      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
    Rob
    July 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
      Jonathan
      July 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
    Nat
    July 17, 2017

    What does 80% of available credit limit mean?

    • Default Gravatar
      Liezl
      July 17, 2017

      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
    Helen
    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?

    • AvatarStaff
      Rench
      July 9, 2017

      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
    Jonathan
    June 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
    Terri
    March 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?

    • AvatarStaff
      Dee
      March 30, 2017

      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
    Faykis
    March 10, 2017

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

    • AvatarStaff
      Dee
      March 10, 2017

      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
    Casey
    February 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

    • AvatarStaff
      May
      February 9, 2017

      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
    Grace
    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

    • AvatarStaff
      May
      February 3, 2017

      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
    Anthony
    January 19, 2017

    Can I transfer a balance from a Citibank card ?

    • AvatarStaff
      Dee
      January 19, 2017

      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

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