Virgin Credit Cards

An Overview of Virgin Credit Cards

Sir Richard Branson’s Virgin Money brand entered the Australian credit card market in May 2003 with the launch of the Virgin Credit Card. Virgin Money teamed up with Westpac and MasterCard for a five-year deal to present Australia’s first no annual fee credit card, aiming to offer customers a cheaper alternative to cards from the country’s other providers. The card featured 55 interest free days and a low interest rate of 12.99%, and also offered access to rewards schemes including offers from other Virgin companies and restaurant discounts.

In 2008, the five-year agreement came to an end and the Virgin Credit Card was withdrawn from the Australian market, although Virgin Money continued to operate a number of financial services in Australia. In 2010, Virgin relaunched a new selection of credit cards offering a very attractive mixture of no fees, low rates and beneficial reward programs.

Virgin’s Credit Cards

Virgin offers a choice of credit cards to suit different types of customer, as presented on our simple comparison table including Virgin Flyer credit card, Virgin High Flyer credit card and Virgin No Annual Fee credit card.

The Virgin No Annual Fee credit card offers really great value with, as the name suggests, no annual fee. The card also features a very competitive ongoing purchase rate, up to 44 days interest free on purchases, plus the option of a low balance transfer rate. It also provides access to the Velocity Rewards program and customers can personalise their card with a choice of six colours.

Virgin’s Flyer credit card is a rewards credit card linked to the Velocity Rewards program, and is also a great choice if you are a looking for a card to make a balance transfer. Customers can transfer a debt from another card and enjoy a low interest rate on the balance transferred. Cardholders are also treated to four flights per year with Virgin Australia.

The Virgin High Flyer credit card is a premium credit card offering valued customers with a range of generous rewards and benefits, although it attracts higher rates and fees than Virgin’s standard credit cards.

Q: How do I earn Velocity Rewards points? A: You can earn points on all sorts of retail purchases you make using your Virgin credit card. The number of points you earn depends on the conversion rate applicable to the type of card you are using. Check all the terms and conditions on each card’s reward program before applying.

Q: How are they transferred to my Velocity Rewards account? A: The number of points you earn are calculated at the end of each statement cycle according to the rate applicable to the Virgin card you are using. Your points are automatically credited to your Velocity Rewards account within three business days of the end of your statement cycle.

Q: Do Velocity points expire? A: Your points do not expire as long as you maintain your Velocity membership and keep up-to-date with repayments on credit card bills. Check the Velocity Rewards terms and conditions for full details of points’ validity.

Q: What can I redeem points for? A: There’s a wide range of products and services you can exchange Velocity Points for including domestic and international flights to numerous destinations with Virgin Australia, V Australia, Pacific Blue, Polynesian Blue and other international Velocity partners. You can also exchange Velocity Rewards for accommodation at selected hotels and resorts, car rentals, gift cards and vouchers, and various other products.