Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer

20.74% p.a.

0% p.a. for 18 months and then 20.99% p.a.

$129 $65 in the first year

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Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer Review

Rates and fees information correct as at 22 July 2018.

Review published: 15 February 2012

What's hot:

  • Mozo Experts Choice Awards Winner 2016

  • Earn up to 60,000 bonus points in the first 3 months (conditions apply)

  • 0% balance transfer rate for 18 months

What's not:

  • Velocity Points earning rate drops to 0.5 Points for $1 spent after $1500 per month

  • Annual card fee of $129

Mozo snapshot:

If you are looking to land yourself a new credit card with great rates and awesome rewards look no further than the Virgin Australia Velocity Flyer Credit Card - Bonus Points offer, awarded best value Rewards Credit Card in Mozo's Expert Choice Awards. You can earn up to 60,000 bonus Velocity Points plus enjoy 0% interest on any balances transferred for 18 months. You also get an exclusive reduced flights offer where you'll get a $129 Virgin Australia gift voucher each year to use on a flight or holiday package.

Key features:

You will be on your way to flying free fast with the 60,000 bonus Velocity points. Earning the bonus points is pretty simple and, right now you'll receive 20,000 points every month you spend $1,500 or more for the first 3 months. 

With this bonus point option there is also an introductory balance transfer rate of 0% for 18 months. While the introductory offers are a great way to save on repayments now, be sure to pay off your balance by the end of the honeymoon period or your balance will revert to the cash advance rate of 20.99%.

This credit card has a standard interest rate of 20.74% for purchases and you will be up for a $129 annual fee but the Virgin Australia Velocity High Flyer Card has a 44 day interest free period. Additional credit cards come at the cost of $39.

The card also comes with Visa PayWave functionality so you can tap and go for your next purchase under $100. If you use the card internationally you will pay a 3.30% foreign exchange margin on all transactions.

The reward program is linked to the Velocity Frequent Flyer Rewards program. Virgin Velocity Flyer Cardholders earn 0.66 Velocity points for every dollar they spend (up to $1500) and then 0.5 point for every $1 after. Virgin Australia Velocity Flyer cardholders also get access to a concierge service, exclusive Virgin family offers and free transit accident insurance.

One of the hottest features of the Virgin Australia Velocity Flyer credit card is the $129 Virgin Australia Gift Voucher you can redeem each year. Use it for a flight (including sale fares) or holiday package - you can redeem it anytime within 6 months of the voucher issue date. 


Who it's good for:

The Virgin Australia Velocity Flyer credit card is perfect for anyone who is prone to enjoy a bit of out-of-state retail therapy and is disciplined about paying off their credit card balance in full each month. Note that to be eligible for the credit card you have to earn a minimum of $35,000.

Any catches?

The rewards earning rate drops after you spend $1,500 each month to 0.5 point for every $1 spent so it could take a while to rack up a decent number of rewards points for things like overseas travel and accommodation.

How are Virgin Money credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
5.7

Based on 97
Virgin Money credit cards reviews

5.8 6.1 5.6 5.6 5.7

Read Virgin Money credit card reviews by the Mozo community

Latest reviews of Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer

Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer credit card review

Overall rating   9 / 10

Go for it!

Love the bonus points, good rates, really great bank

Full review

Love the bonus points, good rates, really great bank

    Price   6 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   7 / 10

Less

Julian (VIC), reviewed over 2 years ago

Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer credit card review

Overall rating   8 / 10

Customer service helpful & efficient

I have used my points for several holidays.

Full review

I have used my points for several holidays.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Shani (TAS), reviewed almost 3 years ago

Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer credit card review

Overall rating   10 / 10

Great bonuses

I love that you can earn great rewards with a Virgin Velocity Credit Card just by paying bills and everyday expenses and that you get free flights on their buy one get one free deal. It's the only rewards card where I actually get something back...

Full review

I love that you can earn great rewards with a Virgin Velocity Credit Card just by paying bills and everyday expenses and that you get free flights on their buy one get one free deal. It's the only rewards card where I actually get something back in return. My only negative comment is that internet banking is very hard to navigate.

    Price   6 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   2 / 10

    Trust   10 / 10

Less

Tracy (VIC), reviewed almost 4 years ago

Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer credit card review

Overall rating   7 / 10

Great rewards, sensible fees, good for flyers

Great to earn extra points when I shop that I can use when I fly (which is frequently). However, the internet management system is far from awesome (Citibank under written so am assuming their rubbish backend). It's tedious. I'm yet to...

Full review

Great to earn extra points when I shop that I can use when I fly (which is frequently). However, the internet management system is far from awesome (Citibank under written so am assuming their rubbish backend). It's tedious. I'm yet to successfully access a statement without having to go through some extra work to get it.

    Price   8 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Jen (VIC), reviewed about 4 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Revealing rewards

How do we do it?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,
  • figure out how many flights or gift cards or cashback credits you could get for those points,
  • work out what that's actually worth to you,
  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
  • Shopping rewards are based on $100 gift cards from a major national department store.
  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Rewards scheme

  • Points are credited to the Velocity Frequent Flyer program.
  • All rewards are redeemed via Velocity.
  • Receive a $129 Virgin Australia Gift Voucher each year.

Privileges

  • Guaranteed Pricing

Special offers

  • Receive 20,000 bonus Velocity Points for every month you spend $1,500 in the first 3 months from card approval.

Value of rewards points

  • Need to spend $30,240 (Visa)

  • Need to spend $11,818 (Visa)

  • Need to spend $233,440 (Visa)

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 0.66 points per dollar on Visa, up to $1,500 per month, then
    0.5 points per dollar on Visa, uncapped

  • 18000 points buys a Myer $100 Gift Card

  • 7800 points buys a Virgin Australia Sydney-Melbourne flight

  • 119600 points buys a Velocity partner Sydney-London flight

* How did we do it? Find out...

Rates

  • 20.74% p.a.

  • none

  • 0% p.a. for 18 months and then 20.99% p.a.

  • yes

  • 20.99% p.a.

  • 44

Fees

  • $129.00

  • $65 in the first 1 year

  • none

  • none

  • $10.00

  • 2.7%, Min $2.70

  • 3.30%

  • $7.00

  • $7.00

  • $39.00

Other financial bits

  • $30.00

  • 2.0

Features

  • 4

  • none

  • none

About Virgin Money

Virgin Money is a financial services company that differentiates itself with a high focus on customer service and a strong brand. It aims to offer great value banking and insurance products designed around what customers really want. In Australia, Virgin Money's banking products include savings accounts, credit cards, super and it also has a range of general insurance products including home and contents, car and travel insurance.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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