Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer

0% p.a. for 14 months then 20.74% p.a.

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

$129

Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate Offer Review

Rates and fees information correct as at 18 December 2017.

Review published: 14 April 2014

What's hot:

  • 0% p.a purchase rate for 14 months

  • 0% p.a balance transfer rate for 6 months

  • Receive a $129 Virgin Australia gift voucher each year

What's not:

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

Mozo snapshot:

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. 

Key features:

The Virgin Australia Velocity Flyer Card has an annual fee of $129 and you can opt for the 0% purchase rate for 14 months and 0% balance transfer offer for 6 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. 

Who it's 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.


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.

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

Virgin Money

Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer credit card review

Overall rating   1 / 10

Poor customer service

High interest rates.

Full review

High interest rates.

    Price   2 / 10

    Features   2 / 10

    Customer service   2 / 10

    Convenience   2 / 10

    Trust   1 / 10

Less

Clarito (QLD), reviewed over 2 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.

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.

  • 0% p.a. for 14 months

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

  • yes

  • 20.99% p.a.

  • 44

Fees

  • $129.00

  • none

  • 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.

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