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.
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% p.a. 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 $1,500) 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.
This card could be good if you're a Virgin Australia fan earning over $35,000 who likes to get out of your city and check out what's going on around the country every couple of months.
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.
Fly Sydney to London return
119,600 points
Fly Sydney to Melbourne one-way
7,800 points
$100 Giftcard
21,800 points
$100 Cash
-
0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
Points are credited to the Velocity Frequent Flyer program.
All rewards are redeemed via Velocity.
Receive a $129 Virgin Australia Credit each year.
Spend $37,840 (Visa)
Spend $11,818 (Visa)
Spend $233,440 (Visa)
Uncapped
Never
How do we calculate these points?
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.
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
$129.00
$64 in the first year
none
none
$30.00
2.7%, Min $2.70
3.30%
$7.00
$7.00
$39.00
$30.00
2.0
4
none
Apple Pay, Samsung Pay
Concierge
High interest rates.
Read full reviewHigh interest rates.
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.
Virgin Money
No Annual Fee Card
0% p.a. for 12 months then 18.99% p.a.
0% p.a. for 12 months and then 20.99% p.a.
$0
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 26 months and then 20.99% p.a.
$129 $64 in the first year
Bendigo Bank
Low Rate Credit Card
11.99% p.a.
0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)
$45
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
NAB
Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
$395 $295 in the first year
Qantas Frequent Flyer
Bankwest
Breeze Mastercard
10.99% p.a.
0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)
$49 $0 in the first year
St.George
Vertigo
13.99% p.a.
0% p.a. for 24 months and then 21.49% p.a.
$55 $0 in the first year
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Citi
Simplicity Credit Card
0% p.a. for 6 months then 21.49% p.a.
0% p.a. for 6 months and then 22.24% p.a.
$0
St.George
Amplify Signature
Amplify Rewards
$279 $139 in the first year
200,000
1.5 points uncapped
American Express
Qantas Ultimate Card
Qantas Frequent Flyer
$450
100,000
1.25 points uncapped
NAB
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
130,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
BankSA
Amplify Signature
Amplify Rewards
$279 $139 in the first year
200,000
1.5 points uncapped
American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
NAB
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250
30,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
American Express
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
Bendigo Bank
Low Rate Credit Card
0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)
11.99% p.a.
$45
Bankwest
Breeze Mastercard
0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)
10.99% p.a.
$49 $0 in the first year
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 26 months and then 20.99% p.a.
20.74% p.a.
$129 $64 in the first year
Velocity Frequent Flyer
St.George
Vertigo
0% p.a. for 24 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
Westpac
Low Rate
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59
St.George
Amplify Platinum
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 19.74% p.a.
$99 $0 in the first year
Amplify Rewards
Citi
Rewards Credit Card
0% p.a. for 30 months and then 22.24% p.a.
21.49% p.a.
$149 $49 in the first year
Citi Rewards Program
CUA
Low Rate Credit Card
0% p.a. for 20 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
Bendigo Bank
Low Rate Credit Card
11.99% p.a.
0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)
$45
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
St.George
Vertigo
13.99% p.a.
0% p.a. for 24 months and then 21.49% p.a.
$55 $0 in the first year
NAB
StraightUp Card
0% p.a.
No current offer
$120 $10/month - waived if no spend & no balance owing
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
ANZ
Low Rate
12.49% p.a.
0% p.a. for 20 months and then 20.24% p.a.
$58 $0 in the first year
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Bank of Melbourne
Vertigo
13.99% p.a.
0% p.a. for 24 months and then 21.49% p.a.
$55 $0 in the first year
