Virgin Flyer Credit Card

• An impressive balance transfer rate of 1.9% p.a. for the first 12 months, reverting to the cash advance rate after 12 months.
• You'll earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2 spent. Redeem your Velocity Points for more flights or other great rewards.
• Buy a Virgin Australia domestic seat and we’ll give you a complimentary seat on the same flight up to 4 times every year! Just cover the credit card booking fees. Flights subject to availability, conditions apply.
• Enjoy up to 44 interest free days.
• Get access to some great Virgin family offers.
• You'll get all this for just a $50 annual fee in the first year.
• Apply before 30th June 2012.
• Read the terms and conditions

• 4 complimentary flights with Virgin Australia inside Australia every year for you and a friend.
• Earn Velocity Points on a $1 = 1 point basis
• Low balance transfer rate for the introductory period.
• Interest rates on purchases is up at the higher end of the range.
• Getting the free seat deal may be restricted to F class tickets which are the early morning and late at night flights.
• The 1 to 1 Velocity points earning ratio is capped when you spend above $1,500 per month. After this it drops to 1 point per $2 spent.

How does the Virgin Flyer Credit Card compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	Virgin Flyer Credit Card	20.99%	20.99%	$50	1.9%	12 months
	The Average Credit Card	17.17%	21.04%	$95	3.04%	7 months

You can transfer from:



• ANZ
• Aussie
• Bank of Melbourne
• Bank SA
• Bankwest
• Coles
• Commonwealth Bank
• HSBC
• NAB
• St.George
• Westpac
• Woolworths

You cannot transfer from:



• Bank of Queensland
• Citibank
• CUA
• IMB
• Suncorp
• Virgin

This card has all the features and bonuses a regular traveller could want. The Virgin Flyer credit card will give you great earning potential for Velocity Points, buy 1 get 1 free flight deals, excellent security and convenience features with competitive rates.

Pros

The best thing the card has to offer is its travelling benefits. If you spend enough you can earn Velocity Points that can be redeemed on flights, accommodation, car hire, shopping, travel and more, or you can donate the extra you earn to various charities. Virgin also offer the possibility of getting a second seat free on Virgin Australia Flights up to 4 times a year when you use your Virgin Flyer Credit Card.

These bonuses are a catch if you can use them but the card also gives you convenience and peace of mind with its many security benefits. You’ll be protected with Fraudshield (an irregular transaction detection system); Visa’s Zero Liability policy; advanced online security; no fuss, quick replacement for lost or stolen cards; assistance when you need it, 24/7; and state of the art secure chip technology. The card has competitive rates and a very reasonable $50 p.a. annual fee with some short but excellent introductory offers as well.

Cons
With cards like this you always have to read the fine print and work out whether the annual fee is worth your while for what you will get out of the card. You can earn points with the use of the card but you need to realise the huge amount of points you actually need to be able to redeem even something fairly small.

Realise too that if you’re a big spender and if you’re therefore counting on earning loads of points, there may be limitations set so that after you’ve spent a certain amount you’ll only earn half the points from then on.

As with any card, if you’re not on top of your monthly repayments, you’ll lose out on the points you could earn or money you could be saving and may actually spend more than you planned. This would mean that the card isn’t actually doing you any favours at all and is instead costing you. It’s important to be in control of spending and repayments so that you can maximise the card’s benefits.

Conclusion

The Virgin Flyer card suits the mid to high income earner, and particularly the regular traveller. If the card will benefit your lifestyle and if you keep well aware of all the little ins and outs, it could well be worth your while considering.