Virgin Australia Velocity Flyer Credit Card (Balance Transfer Offer)

On Virgin Money's website

Virgin Australia Velocity Flyer Credit Card (Balance Transfer Offer)

3.1

Balance transfer

24 months at 0% p.a.

Purchase rate

20.74% p.a. ongoing

Interest-free days

Up to 44 days on purchases

Annual fee

$149.00 p.a. ongoing

Highlights

  • 0% p.a. for 24 months on balance transfers with a 1% balance transfer fee. Reverts to the cash advance rate at 20.99% p.a.
  • Earn 0.66 Velocity Points per $1 on eligible spending up to $1,500 per statement period, then 0.5 points per $1 after that.
  • Earn an extra Velocity Point for every dollar spent directly with Virgin Australia using your Flyer Credit Card.

Pros and cons

Pros

  • Receive a $129 Virgin Australia Gift Voucher every year, giving you savings on flights and making travel more affordable.
  • Redeem points for cashback, gift cards, Velocity Frequent Flyer transfers, partner hotel stays, or to pay off purchases.
  • Includes Purchase Protection and Extended Warranty Insurance.
  • Comes with security features such as Fraudshield, Zero Liability policy and more.
  • Compatible with Apple Pay, Google Pay and Samsung Pay.

Cons

  • The ongoing annual fee of $149 p.a.
  • The earn rate drops to 0.5 points per $1 after $1,500 in a statement period.

About this credit card

Basics

Card usage

Apple Pay Enabled
Yes
Card Type
Visa
Gambling Transactions Allowed
No
Samsung Pay Enabled
Yes

Eligibility

Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good, Very Good, Excellent
Minimum Income
$35,000.00
Temporary Residents Accepted
No

Additional cardholders

Additional Cardholders
4
Additional Card Fee Ongoing
$39.00

Credit limits

Minimum Credit Limit
$6,000.00
Maximum Credit Limit
$100,000.00

Repayments

Interest Charged From
Statement date
Interest Free Period
Up to 44 days on purchases
Minimum Repayment Percentage
2%

Balance transfers

Balance transfer offer

Balance Transfer Rate
0%
Balance Transfer Period
24 months
Balance Transfer Fee Percentage
1%

Balance transfer conditions

Balance Transfer From Personal Loan
Yes
Balance Transfer Limit Percentage
80%
Balance Transfer Revert Rate
20.99%

Rates, fees, charges

Cash advances

Cash Advance Rate
20.99% p.a.
Cash Advance Fee
$2.70
Cash Advance Fee Percentage
2.7%
Cash Advance Fee Threshold
N/A

Purchases

Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
20.74% p.a.

Account fees

Annual Fee Initial Year
N/A
Annual Fee Ongoing
$149.00
Dishonour Fee
$15.00
Duplicate Statement Fee
$2.00
Foreign Exchange Fee Percentage
3.3%
Late Payment Fee
$10.00

Rewards

Rewards program basics

Rewards Program
Velocity Frequent Flyer
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
24 months

Rewards points per $1 spent

Domestic Rewards Points Earn Rate
0.66
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
0.66

Additional perks

Insurance

Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
Yes
Cardholder's International Travel Insurance
No
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
Yes
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
No

Travel and lifestyle

Airport Lounge Access Included
No
Concierge Service Included
Yes
Complimentary Flight Voucher Included
Yes
Complimentary QFF Membership Included
N/A

Our review

Convenience

Customer service

Rates and fees

Rewards

Trust

0% balance transfer offer for 24 months

If you currently have unpaid balances on one or more of your existing credit cards, you can take advantage of this generous balance transfer offer. Transfer the balances (up to 80% of your approved credit limit) to your new card, and pay no interest at all for 24 months. It’s not the longest period available on the market (some cards offer 28 months), but it’s certainly long enough to let you either save or make a reasonable amount of money. Just note the 1% balance transfer fee ($40 on a $4,000 transfer), which slightly reduces your overall savings

Save money, even if you could afford to pay off the balance. Instead of repaying that $4,000 straight away, you could place it in a 5% p.a. mortgage offset account for 24 months and reduce your home loan interest by about $400, assuming monthly compounding.

Make money if you don’t have a mortgage. Putting the same $4,000 in a 3.5% p.a. high-interest savings account for 24 months would earn you roughly $290 in interest, depending on the compounding frequency.

Planning to use the card for purchases? Keep in mind that while your balance transfer is unpaid, your monthly 44 interest-free days on purchases won’t apply — any purchases will be charged interest immediately. You’ll also miss out on earning Velocity Points for purchases until the balance is cleared, and you’ll forfeit any first purchase bonus points, since making a purchase would trigger interest.

Also, be aware that any remaining balance left unpaid at the end of 24 months will start costing you interest at a whopping 20.99% p.a. This is the cash advance rate, which, along with the purchase interest rate of 20.74%, is a fairly normal rate for a credit card. Escape paying these high rates by avoiding both cash advances and overdue purchase balances.

Enjoy an exclusive $129 Virgin Australia gift voucher

Get a $129 Virgin Australia flight voucher each year. All you need to do is make a retail purchase in the two months before you request it. The voucher works on any Virgin Australia flight — even sale fares — and some holiday packages too. For example, if you spot a sale fare from Melbourne to Brisbane for $152, you’d only have to cover the $23 difference out of your own pocket.

Some limited insurance cover

This is Virgin Australia’s entry-level Velocity Points card, so it doesn’t include international travel insurance or the full suite of perks that come with the High Flyer version. But you still get two handy types of purchase protection:

  • Purchase Protection Insurance – If something you buy with the card is lost, stolen, or damaged within 90 days, you’re covered, provided the full purchase was charged to your credit card.
  • Extended Warranty Insurance – This extends the manufacturer’s warranty by up to one extra year. Coverage is capped at $10,000 per item and $40,000 total per year and applies only when you pay with the card.

Visa benefits

Some of the advantages accompanying this card come courtesy of Visa rather than Virgin.

  • Visa concierge service. A virtual personal assistant online or by phone, anywhere in the world, for restaurant, theatre, travel and entertainment bookings and recommendations.
  • Visa offers + perks. Get access to exclusive offers, giveaways, and benefits.
  • Visa payWave. Fast and easy contactless payments under $100.
  • Verified by Visa. A one-time password delivered by SMS for online shopping adds an extra level of security.
  • Visa Checkout. Optional enrolment to simplify and speed up online shopping by storing your card and shipping details
  • Visa Zero Liability policy. You won’t be held responsible for fraudulent or unauthorised use of your card, but do advise your card issuer at once if it’s lost or stolen. (This comes in addition to the Fraudshield service provided by Virgin Money, the card issuer, which advises you of any irregular or suspicious transactions on your account.)

And the cost is...

$149 p.a.—with no first-year discount. While it’s slightly higher than the value of the annual $129 flight voucher, it’s easy to offset most of the cost if you use the voucher for a trip you were planning anyway. Just keep in mind that this is a fixed yearly fee, so it’s worth weighing up how often you’ll fly with Virgin Australia or take advantage of the other card features.

You can have up to four supplementary cards on your account, but unfortunately, you’ll have to pay $39 for each one. This brings the continuing cost to $168 for a couple wanting two cards on the same account.

What makes the Virgin Australia Velocity Flyer Credit Card (Balance Transfer Offer) a good fit?

If you’re a Velocity Frequent Flyer and regularly fly with Virgin Australia, this card makes sense, especially if you’re looking to earn points on everyday spending without a hefty annual fee. You’ll earn 0.66 Velocity Points per $1 on eligible purchases up to $1,500 per statement period and 0.5 points per $1 after that. Plus, the $129 annual flight voucher goes a long way toward offsetting the $149 annual fee, especially if you fly even once a year.

The 0% p.a. balance transfer offer for 24 months is a standout for anyone trying to clear existing credit card debt while avoiding interest for a generous period. Just be mindful that you’ll want to hold off on using the card for purchases during that time to avoid losing interest-free days and bonus points.

Overall, it’s a practical choice for those who value simplicity, fly with Virgin often, and want a way to earn rewards and manage debt without jumping into premium card territory.


account

Reviewed by Credit Card Compare Staff

History

    User reviews

    Convenience

    Customer service

    Rates and fees

    Rewards

    Trust

    Application was so quick!

    Reviewed by Hollie


    Application progress too slow

    Reviewed by Revanth


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