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Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

Purchase rate
0% p.a. for 14 months then 20.74% p.a.
Balance transfer rate
0% p.a. for 6 months and then 20.99% p.a.
Annual fees
$129 $64 in the first year
Interest free days on purchases
55

Mozo editorial review Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

Last updated: 28 April 2020.

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What's hot
  • Receive a $129 Virgin Australia gift voucher each year
  • $64 annual fee in the first year ($129 after)
What's not
  • Velocity Points earning rate drops to 0.5 Points for every $1 spent after, $1500 per month
Mozo snapshot

UPDATE: This credit card is unavailable for new applicants 

Want interest free spending and a way to save on interest repayments from your existing credit card debt? The Virgin Australia Velocity Flyer Card - Balance Transfer and Purchase Rate offer could be for you. Yes, you read correctly. Enjoy 0% interest on purchases for 14 months and don't pay a cent on interest for 6 months on balances transfers transferred. Plus it comes with a $129 Virgin Australia gift voucher each year that you can use as you please on any Virgin Australia flight or holiday package. 

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Key features

The Virgin Australia Velocity Flyer Card has an annual fee of $129, but in the first year this is slashed in half to just $64, plus, you can get a 0% purchase rate for 14 months. This means for the first 14 months you won't pay a cent in interest on purchases but it is a good idea to get into the habit of paying your balance in full each month as the rate goes up to 20.74% after the interest free period ends. 

If you have debt on another credit card that is attracting high interest, the Virgin Australia Velocity Flyer Card also comes with a 0% balance transfer offer for 6 months.

You can use the card in Australia and around the globe where ever Visa is accepted, and the card comes with PayWave functionality so you can tap and good for purchases under $100.

The program is linked to the Velocity Frequent Flyer Rewards program. Cardholders earn 0.66 Velocity points for every $1 spent (up to $1500) and then 0.5 points per statement period.

One of the top features of the Virgin Australia Velocity Flyer card is the exclusive reduced flights offer. You'll get a $129 Virgin Australia voucher to use on any flight (including sale fares) or Virgin Australia holiday package each year. 

Other benefits of the card include the free transit accident insurance, access to a concierge service as well as exclusive Virgin Family offers. 

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Who is it good for

If you're a Virgin Australia fan earning over $35,000 and you like to get out of your city and check out what's going on around the country every couple of months.


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Any catches

While the 0% purchase rate offer can be a great incentive to spruce up the wardrobe, just remember that this doesn't mean you won't need to make a repayment for 14 months. You'll still have to make at least the minimum repayments each month on the card so watch that credit limit.

Rewards program details

Rates and fees information correct as at 25 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
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 Credit each year.

Value of rewards points

Spend $37,840 (Visa)

Spend $11,818 (Visa)

Spend $233,440 (Visa)

Uncapped

Never

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.

Close

Rate and fee details

Rates
  • 20.74% p.a.

  • 0% p.a. for 14 months

  • 0% p.a. for 6 months and then 20.99% p.a.

  • yes

  • 20.99% p.a.

  • 55

Fees
  • $129.00

  • $64 in the first 1 year

  • none

  • none

  • $30.00

  • 2.7%, Min $2.70

  • 3.30%

  • $7.00

  • $7.00

  • $39.00

Features
  • $30.00

  • 2.0

  • 4

  • Unavailable for new applications.

Payment options

Samsung Pay

Rewards privileges

Concierge

Customer Reviews

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

Overall
5.7/10
Price
6.1/10
Features
6.2/10
Customer service
5.4/10
Convenience
5.5/10
Trust
5.6/10

Latest review of Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

  • Overall 1/10
    Poor customer service

    High interest rates.

    Read full review

    High interest rates.

    Price
    2/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    2/10
    Trust
    1/10
    Less
    Clarito, Queensland reviewed about 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.

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