Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer

Purchase rate

20.74% p.a.

Balance transfer rate

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

Annual fee

$129 $64 in the first year

Rewards program

Velocity Frequent Flyer

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer

Purchase rate

20.74% p.a.

Balance transfer rate

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

Annual fee

$129 $64 in the first year

Rewards program

Velocity Frequent Flyer

Details

Details

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

Last updated: 30 August 2019.

What's hot:

Mozo Experts Choice Awards Winner 2016
Earn up to 70,000 bonus points (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 70,000 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 70,000 bonus Velocity points on offer with this card. You'll earn 20,000 Points for each month you spend $1,500 for the first 3 months after you're approved. Plus you can snag an extra 10,000 Points after your first anniversary of having the card.

Right now you'll also earn an additional 3 bonus Velocity Points per $1 spent in the first 3 months from the card approval date (up to 10,000 points per month).

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.

Rewards program details

What your points get you

Fly Sydney to London return

119,600 points

Fly Sydney to Melbourne one-way

7,800 points

$100 Giftcard

21,800 points

$100 Cash

Points earning

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

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.

Special offers

Earn 20,000 points each month $1,500 or more is spent on eligible transactions for the first 3 months. Receive 10,000 Points after the first year.

Value of rewards points

Earn $100 gift card reward

Spend $37,840 (Visa)

Earn domestic flight: Sydney-Melbourne one-way reward

Spend $11,818 (Visa)

Earn international flight: Sydney-London return reward

Spend $233,440 (Visa)

Are points capped?

Uncapped

Do points expire?

Never

How do we calculate these points?

How do we calculate the rewards?

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.

Rate and fee details

Rates

Purchase rate

20.74% p.a.
Intro purchase rate

none
Balance transfer rate

0% p.a. for 18 months and then 20.99% p.a.
Balance transfer revert to cash

yes
Cash advance rate

20.99% p.a.
Interest free days on purchases

44

Fees

Annual card fee

$129.00
Introductory annual fee

$64 in the first 1 year
Annual fee spend threshold

none
Reward program fee

none
Late payment fee

$30.00
Cash advance fee

2.7%, Min $2.70
Foreign exchange margin

3.30%
Duplicate statement fee

$7.00
Transaction verification fee

$7.00
Additional card fee

$39.00

Features

Minimum repayment amount

$30.00
Minimum repayment percent

2.0
Additional cardholders

4
Other restrictions

none

Payment options

Samsung Pay

Rewards privileges

Concierge

Customer Reviews

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

Overall customer rating

5.8/10

Based on 203 Virgin Money credit card reviews

Price

6.1/10

Features

6.4/10

Customer service

5.5/10

Convenience

5.5/10

Trust

5.7/10

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

Overall

9/10

Go for it!

Love the bonus points, good rates, really great bank

Read 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 | Victoria

reviewed over 3 years ago
Overall

10/10

Fantastic customer service

Love the points system

Read full review

Love the points system

Price

10/10

Features

10/10

Customer service

10/10

Convenience

10/10

Trust

10/10

Less

Judy | Queensland

reviewed over 3 years ago
Overall

8/10

Customer service helpful & efficient

I have used my points for several holidays.

Read 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 | Tasmania

reviewed almost 4 years ago
Overall

10/10

Great bonuses

I love that you can earn great rewards with a Virgin Velocity Credit Card just by paying bills...

Read 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 | Victoria

reviewed about 5 years ago
Overall

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,...

Read 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 | Victoria

reviewed over 5 years ago

Virgin Money

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.

See Virgin Money credit cards

Promoted

Virgin Money

Virgin Australia Velocity High Flyer Card

Purchase rate

20.74% p.a.

Balance transfer rate

0% p.a. for 15 months and then 20.99% p.a.

Annual fees

$289

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer

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

What's hot:

What's not:

Mozo snapshot:

Key features:

Who it's good for:

Any catches?

Rewards program details

What your points get you

Points earning

Rewards scheme

Special offers

Value of rewards points

How do we calculate the rewards?

Rate and fee details

Rates

Fees

Features

Payment options

Rewards privileges

Customer Reviews

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

Overall customer rating

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

Go for it!

Fantastic customer service

Customer service helpful & efficient

Great bonuses

Great rewards, sensible fees, good for flyers

About Virgin Money