Virgin Money Virgin Australia Velocity High Flyer Card

20.74% p.a.

1.90% p.a. for 15 months and then 20.99% p.a.

$289 $144 in the first 1 year

Virgin Money Virgin Australia Velocity High Flyer Card Review

Rates and fees information correct as at 23 January 2017.

Review published: 17 October 2012

What's hot:

  • Mozo's Experts Choice Awards Winner 2016

  • Earn up to 30,000 bonus Velocity points

  • Receive a $129 Virgin Australia gift voucher each year

What's not:

  • 20.74% purchase rate

Mozo snapshot:

With the Virgin Australia Velocity High Flyer credit card you will get exclusive flight benefits including a $129 Virgin Australia gift voucher (to be used on any flight or holiday package) and two single entry Virgin Australia domestic lounge passes. The card comes with a 1.90% balance transfer offer for 15 months, complimentary international travel insurance, and for every dollar you spend you'll earn 1 Velocity Point. Plus, you can get 10,000 bonus points each month you spend $3,000 or more on purchases for the first 3 months. Is it any wonder why this credit card was awarded a Mozo Experts Choice Award for Best Value Premium Rewards Credit Card?

Key features:

The Virgin Australia Velocity High Flyer credit card has a high interest rate of 20.74% so this is not a card to accrue debt on. Pay your balance in full each month and you'll get up to 44 days interest free. There is a competitive 1.90% balance transfer rate for 15 months but make sure you pay off the debt in the time period otherwise you'll end up paying the high 20.74% on any remaining balance.

The $289 ongoing annual fee might seem like a lot to pay for a credit card each year but when you consider all of the top travel goodies that come with the card, you'll more than cover your costs. The exclusive reduced flights offer means you will get a $129 Virgin Australia gift voucher each year to be used on any Virgin Australia flight including sale fares or holiday package. You'll also get two single entry passes to the Virgin Australia Domestic lounge. There is also the free overseas travel insurance, transit accident insurance, purchase cover and extended warranty cover. To help with all that high flying you'll be doing you also have round-the-clock access to the Visa Platinum Concierge Service.

You'll earn 1 Velocity Point for every $1 spent up to $10,000 (and 0.5 points after $10,000) per statement period. Points are uncapped so every purchase made on the card will be going towards getting you your next reward.

If you use your Virgin Australia Velocity High Flyer overseas, you'll be charged a 3.30% foreign exchange margin on top of every purchase.


Who it's good for:

It's perfect for Velocity Point seekers but you need to be an Australian resident to be eligible for the Virgin Australia Velocity High Flyer card.

Any catches?

If you decide to transfer an existing balance to take up the balance transfer offer just be aware that all payments now must go to paying down the most expensive debt first. So if you make any new purchases with the credit card, any payments will go towards these first and your balance transfer second.

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 High Flyer Card

Virgin Money

Virgin Money Virgin Australia Velocity High Flyer Card credit card review

Overall rating   5 / 10

Great extras

Difficult to get hold of, accents can be an issue - difficult to understand, awesome velocity points

Difficult to get hold of, accents can be an issue - difficult to understand, awesome velocity points

    Price   4 / 10

    Features   8 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   3 / 10

Less

Steena (QLD), reviewed about 1 year ago

Virgin Money

Virgin Money Virgin Australia Velocity High Flyer Card credit card review

Overall rating   8 / 10

Good reward program

As a Velocity Frequent Flyer member, the card fits in well with the Velocity Rewards program with a higher reward structure which is good if you are a member and want to maximise your returns.

As a Velocity Frequent Flyer member, the card fits in well with the Velocity Rewards program with a higher reward structure which is good if you are a member and want to maximise your returns.

    Price   7 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

David (QLD), reviewed about 1 year ago

Virgin Money

Virgin Money Virgin Australia Velocity High Flyer Card credit card review

Overall rating   9 / 10

Great rewards points

Earning heaps of reward points for flights, no negatives.

Earning heaps of reward points for flights, no negatives.

    Price   7 / 10

    Features   10 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Tim (WA), reviewed over 1 year ago

Virgin Money

Virgin Money Virgin Australia Velocity High Flyer Card credit card review

Overall rating   7 / 10

Great card...never had any problems

Able to use c/c for more than just credit purchases.

Able to use c/c for more than just credit purchases.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Pat (VIC), reviewed over 1 year ago

Virgin Money

Virgin Money Virgin Australia Velocity High Flyer Card credit card review

Overall rating   9 / 10

Great product.

Great incentive to earn free points to fly to destinations more regularly.

Great incentive to earn free points to fly to destinations more regularly.

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   6 / 10

    Trust   8 / 10

Less

Elizabeth (NSW), reviewed over 1 year 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

  • Concierge
  • Travel Insurance
  • Extended Warranty
  • Purchase Protection
  • Guaranteed Pricing

Special offers

  • Receive 10,000 bonus Velocity Points for every month you spend $3,000 in the first 3 months from card approval.

Value of rewards points

  • Need to spend $18,000 (Visa)

  • Need to spend $7,800 (Visa)

  • Need to spend $119,600 (Visa)

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Visa, up to $10,000 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 Syd-Mel flight

  • 119600 points buys a Velocity partner London flight

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

Rates

  • 20.74% p.a.

  • none

  • 1.90% p.a. for 15 months and then 20.99% p.a.

  • yes

  • 20.99% p.a.

  • 44

Fees

  • $289.00

  • $144 in the first 1 year

  • none

  • none

  • $10.00

  • 2.7%, Min $2.70

  • 3.30%

  • $7.00

  • $7.00

  • $89.00

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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