Virgin Australia Velocity Flyer Credit Card Points Offer | Review & Apply

Virgin Australia Velocity Flyer Credit Card Points Offer

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Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
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Sign up bonus
Points earned
Virgin Australia Velocity Flyer Credit Card Points Offer
Apply by 30 jun 19
Virgin Australia Velocity Flyer Credit Card Points Offer
Receive 75,000 bonus Velocity Points when you apply by 30 June 2019, are approved and spend $1,500 per month on eligible transactions in the first 3 months.
Save money with 0% p.a. for 18 months on balance transfers (Reverts to cash advance rate. No interest free days apply while you have a BT).
$129 Virgin Australia Gift Voucher which cardholders get each year.
Add to comparison
Velocity Frequent Flyer
Velocity Frequent Flyer
0.66 pts
per $1 spent
up to $1,500
then 0.5 pts
thereafter
More info
75,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Receive 75,000 bonus Velocity Points when you apply by 30 June 2019, are approved and spend $1,500 per month on eligible transactions in the first 3 months.
Save money with 0% p.a. for 18 months on balance transfers (Reverts to cash advance rate. No interest free days apply while you have a BT).
$129 Virgin Australia Gift Voucher each year.
Half year annual fee for the first year – that’s $64 p.a., reverting to $129 thereafter.
Personal Concierge Service.
Pay faster at the checkout using VISA payWave.
After the balance transfer has ended any unpaid balances revert to the 20.99% p.a. cash advance rate.
Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Virgin Australia Velocity Flyer Credit Card Points OfferReviewed by Yvonne Taylor

Bonus rewards points, points for everyday spending and an annual travel gift voucher will open up the skies to those who successfully apply for the Virgin Australia Velocity Flyer Credit Card Points Offer. And if that’s still not enough, there’s a long zero-interest balance transfer available, plus an annual fee that’s halved in the first year.

75,000 bonus points let you fly immediately

This version of the Velocity Flyer credit card is for anyone who wants to get their hands on bonus points because they’d like to fly sooner rather than later. During the first three months after card approval, you’ll receive 25,000 bonus points in each month where you spend at least $1,500 using the card. That’s a total of 75,000 points, on top of standard points earned, for spending $4,500.

What could you do with 75,000 bonus Velocity points?

Virgin Australia award seats start at 7,800 points + taxes for a one-way economy flight between Sydney and Melbourne or Brisbane. You could make that flight almost 10 times with 75,000 points. Add the 4,500 standard points earned for the $4,500 spending to earn the bonus points, and you would be well on your way to an economy return flight to Los Angeles (from 89,600 points + taxes).

Combine bonus points with annual travel voucher to open up even more options

Virgin Australia naturally want to keep you travelling – and spending – with them. So you’ll receive an annual gift of a $129 travel voucher, which you can use to purchase any Virgin Australia fares (including sale fares) or holiday packages.

But you don’t have to wait a year for your first $129 voucher. To qualify for this benefit, you simply need to make at least one retail purchase in the two months prior to requesting your voucher each year. And you can apply for your first voucher as early as 30 days after card approval. Which means that the combination of bonus points and travel voucher could see you flying high only a few months after your card is approved.

Continue to earn points on your everyday spending

If you remember to use your card for all your regular purchases at the supermarket, petrol station, department and hardware stores, coffee shops, restaurants and movies – in fact, almost everywhere – the points you earn will soon accumulate into a tidy amount. The points earning rates are:

  • 0.66 points per dollar spent up to a threshold of $1,500 per month
  • 0.5 points per dollar spent after the first $1,500 per month

The threshold is rather low, and if you think you’ll run up against it regularly, you might want to consider the Virgin Australia Velocity High Flyer Credit Card instead. It has a higher base earning rate as well as a much higher monthly threshold.

Meanwhile, if you decide to stick with this less expensive card, you can still take comfort from the fact that there is no absolute points cap – no limit beyond which points cease to be earned. Unlike the unfortunate holders of cards with a points cap, you will earn points on every dollar you spend on eligible purchases, even in those months where your spending goes well beyond your normal amount.

Other ways to spend Velocity points

You’ll probably get the best value from your points by redeeming them for airfares. In addition to the Virgin Australia award seat redemptions already mentioned, you can access additional options via ‘Any Seat’ redemptions, which do, however, require more points. And you’re not limited to Virgin Australia, since there’s a long list of partner airlines, opening up over 600 destinations worldwide.

There are also other ways to use your points. You can visit the Velocity Rewards Store to exchange them for retail shopping vouchers, movie ticket and travel gift cards, airport lounge access and a wide range of merchandise. If you don’t have quite enough points for your chosen redemption, you can pay for the balance in cash with Points + Pay.

Accumulated credit card debt can be transferred at 0% interest

Perhaps you like the look of this card, but you’d like to pay off your existing credit card debt first. If so, you can access a further benefit by taking advantage of this card’s balance transfer offer. You’ll pay no interest on the transferred amount for 18 months, saving you heaps. Even better, there’s no balance transfer fee to pay upfront. By transferring a $5,000 debt from a 20% p.a. card, you could save $1,454 in interest charges over the course of 18 months.

But do be aware that having an unpaid balance transfer means that you won’t qualify for up to 44 interest-free days on purchases until your balance is repaid in full. Perhaps keep another card for purchases, or use cash, for the first 18 months.

It could still be worth spending $4,500 in the first three months in order to collect those 75,000 bonus points. If you do have a balance transfer, whenever you make a purchase on your card, pay it off immediately if you can with a transfer from your bank account, instead of waiting until the end of the month. This will minimise your interest cost.

Two complimentary insurance policies

There’s no free travel insurance with this card, but there are two policies you might still use:

  • Transit accident insurance, paying compensation if you have a serious injury on a plane, bus, train or ferry during an overseas trip
  • Guaranteed pricing scheme, providing a refund if you see a major purchase (not made online) advertised locally at a much lower price a short time later

No good news in the interest rates department

Rewards cards like this are not designed for people looking for low interest rates. The only sensible way to use a rewards card is to pay off your purchases balance in full at the end of each month, otherwise your interest cost will far exceed the value of any rewards points you earn.

So the interest rates for this card are just as high as you would expect: 20.74% p.a. for overdue purchases balances, and 20.99% for cash advances. The cash advance rate is also the revert interest rate on any balance transfer not cleared after 18 months.

Annual fee halved in the first year

In the first year of holding the card, you’ll pay a $64 annual fee, half the standard rate. The fee reverts to $129 in subsequent years. And Virgin Money, unfortunately, charges for supplementary cards on your account – $19 per card in the first year, and $39 per card thereafter.

Check out the competition

If you’re committed to flying with Virgin Australia and want to earn Velocity points, your choices will be limited to cards issued by either Virgin Money or American Express. Compare them on the Velocity page in our Features section.

You could instead choose to earn rewards points in another card issuer’s program (such as the rewards programs of the Big Four banks) and then convert those points to Velocity points, which extends your options significantly. See our ‘All rewards’ page for details.

Or you could opt for Qantas points instead, since there is a very wide choice of Qantas Frequent Flyer points cards. Check out these cards on our Qantas page.

The choice is yours

The Virgin Australia Velocity Flyer Credit Card comes in three formats: the 0% p.a. Purchase Offer, the Balance Transfer and Annual Fee Offer, and this 75,000 Points Offer. This last option will suit you best if you are (or would like to be) a Velocity Frequent Flyer, expect to spend around $1,500 per month (but not much more) using your card and intend to pay off your purchases balance in full every month.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$35,000
Minimum income for pensioners
Same as standard
Pensioners
Yes
Rewards program
Velocity Frequent Flyer
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$39 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
$30,000

Repayments

Interest charged from
Statement date
Interest free period
Up to 44 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.18 months0%80% of credit limit20.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Yes
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Virgin Australia Velocity Flyer Credit Card Points Offer at the promotional balance transfer rate from:

  • Bank of Queensland
  • Virgin Money

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.18 months0%80% of credit limit 20.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.75% 20.99% p.a.
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$64 p.a.
Annual fee 2nd year
$129 p.a.
Cash advance fee
2.7%
Dishonour fee
$15
Duplicate statement fee
$2
Foreign exchange fee
3.3%
Late payment fee
$30
Over limit fee
$40
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
N/A
Transaction verification fee
$7

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Earn rates

Spend typeSpend
Airline spend
Up to $1,500
0.66 pts per $1 spent
thereafter
0.5 pts per $1 spent
ResetN/A
Points capUnlimited (Reduced after $1,500)

Rewards program basics

First purchase bonus
75,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Spend required for bonus points
$1,500 each month for the first 3 months from card approval

Earning points with this card

Frequent flyer points
0.66 pts per $1 spent up to $1,500 then 0.5 pts per $1 spent thereafter
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited (Reduced after $1,500)
Points cap per year
Unlimited
Points earned on ATO payments
0 pts per $1 spent
Reward points
0.66 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $35,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Joint applications are not allowed
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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