Compare Virgin Money Credit Cards

Compare Virgin Money credit cards and their key features, interest, fees, earn rates, bonuses, and benefits. Get informed before applying.

By   |   Updated 12 Mar 2024

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Comparing Virgin Money credit cards

Virgin Australia Velocity High Flyer Credit Card

On website

Virgin Australia Velocity High Flyer Credit Card

Highlights

  • Up to 80,000 bonus Velocity Points upon spending $3,500 on eligible purchases within 4 months of card approval. Terms and conditions apply.
  • 0% p.a. interest for 12 months on balance transfers (no balance transfer fee applies). Reverts to cash advance rate of 21.69% p.a.
  • Receive an exclusive $129 Virgin Australia Gift Voucher annually. Terms and Conditions apply.

Pros

  • Earn up to 80,000 bonus Velocity Points when you meet the criteria.
  • Earn 1 Velocity Point per $1 spent on eligible transactions up to $8,000 and 0.5 points per $1 on spending thereafter.
  • Two single entry passes for Virgin Australia domestic lounges every year.
  • Flight voucher worth $129 each year.
  • Comes with International Travel Insurance and Extended Warranty Service.
  • Works with Apple Pay and Samsung Pay.

Cons

  • The ongoing annual fee of $289 p.a.
  • Earn rate is tiered, although the base tier is enough for more people.
  • Only up to 44 interest-free days on purchases.
  • There's an annual fee per additional card.
Virgin Money No Annual Fee Credit Card

On website

Virgin Money No Annual Fee Credit Card

Highlights

  • $0 annual fee for the lifetime of the card.
  • Transfer balance at 0% p.a. for 12 months on balance transfers (reverts to 20.99% p.a.).
  • 0% p.a. for 12 months on purchases (reverts to 18.99% p.a.).

Pros

  • No annual fee ever.
  • 0% p.a. interest rate for up to 12 months on balance transfers and purchases.
  • Up to 4 additional cards, also with $0 annual fee.

Cons

  • The revert interest rates for balance transfers and purchases are relatively high.
Virgin Money Low Rate Credit Card

On website

Virgin Money Low Rate Credit Card

Highlights

  • 0% p.a. for 15 months on balance transfers with no balance transfer fee. Reverts to the cash advance rate at 21.69% p.a.
  • Low ongoing purchase rate of 11.99% p.a.
  • Up to 55 days interest-free on purchases.

Pros

  • 0% p.a. for 15 months on balance transfers.
  • No balance transfer fee.
  • Low ongoing interest rate on purchases at 11.99% p.a.
  • Compatible with Apple Pay and Samsung Pay.

Cons

  • If you want additional cardholders, it will cost $29 p.a. per cardholder.
  • Doesn't earn Velocity Points.

Virgin Money credit cards cater to a wide range of spending habits, offering everything fromfrequent flyer rewards cards to low rate and no annual fee options. Depending on your selection, you might enjoy benefits like an introductory 0% interest rate onbalance transfers or0% purchase cards,bonus points, and platinum advantages, including complimentary insurance and flight vouchers.

Benefits of Virgin Money credit cards

Virgin Money credit cards come with various benefits that make them attractive options for consumers. Some of the key advantages of holding a Virgin Money credit card include:

  • Earn Velocity Points: Many Virgin Money credit cards are linked to the Velocity Frequent Flyer program, allowing cardholders to earn Velocity Points on eligible purchases. These points can be redeemed for flights, upgrades, and various rewards.
  • Complimentary insurances: Depending on the card type, Virgin Money credit cards may offer complimentary insurance policies such as travel insurance, purchase protection insurance, and extended warranty insurance, providing cardholders with added peace of mind.
  • Exclusive offers and discounts: Virgin Money often provides cardholders with exclusive offers, discounts, and rewards across a range of partners and merchants. These perks include travel, shopping, dining, and entertainment savings.
  • Flexible rewards programs: In addition to Velocity Points, some Virgin Money credit cards offer flexible rewards programs that allow cardholders to earn points that can be exchanged for gift cards, merchandise, or cashback.

How to Apply for a Virgin Money Credit Card

Applying for a Virgin Money credit card is a straightforward process that can typically be completed online. Here are the general steps involved in applying for a Virgin Money credit card:

  1. Research andcompare credit cards: Start by researching the range of Virgin Money credit cards available and comparing their features, benefits, fees, and interest rates to determine which card best suits your needs.
  2. Check eligibility: Ensure you meet the eligibility criteria for the card you wish to apply for. Eligibility requirements may include age, income, employment status, and credit history.
  3. Gather required documents: Prepare the necessary documents for your credit card application, which may include proof of identification, income documents, and details of your current financial situation.
  4. Complete the online application: Visit the Virgin Money website or a designated application portal to complete the online application form. Provide accurate information and double-check all details before submitting your application.
  5. Await approval: Virgin Money will review your details and conduct a credit check once you have submitted your application. If approved, you will receive your new credit card in the mail along with relevant account information.

Help choosing a Virgin Money credit card

Details about how their cards work and how you can make the most of yours.

  • FAQs

  • Pros & cons

Is there an annual fee associated with Virgin Money credit cards?

Virgin Money offers a range of credit cards with varying fee structures. Some cards may have an annual fee, while others, such as the No Annual Fee Card, do not charge an annual fee.

How can I earn Velocity Points with a Virgin Money credit card?

Most Virgin Money credit cards are linked to the Velocity Frequent Flyer program, allowing cardholders to earn Velocity Points on eligible purchases. The number of points earned may vary depending on the card type and spending behavior.

Can I transfer balances from other credit cards to a Virgin Money credit card?

Yes, Virgin Money offers balance transfer options on certain credit cards. Cardholders can transfer balances from other credit cards to a Virgin Money card at a promotional interest rate for a specified period.

What is the interest rate on Virgin Money credit cards?

The interest rate on Virgin Money credit cards varies depending on the card type and individual circumstances. It is recommended to review the specific terms and conditions of the card you are interested in for detailed information on interest rates.

How can I contact Virgin Money customer service?

Virgin Money provides customer service support via phone, email, and online chat. You can find contact details on the Virgin Money website or contact the customer service team for assistance with any queries or issues related to your credit card.

Pros

Competitive rewards program

Virgin Money Credit Cards offer a competitive rewards program, allowing cardholders to earn points on their purchases, which can be redeemed for various rewards such as flights, hotel stays, or cashback.

No annual fee options

Some Virgin Money Credit Cards come with no annual fee, providing cardholders with a cost-effective option to access credit card benefits without incurring additional yearly charges.

Low foreign transaction fees

Virgin Money Credit Cards typically have low foreign transaction fees, making them suitable for international travelers who frequently use their credit cards abroad without incurring hefty fees.

Frequent promotional offers

Virgin Money often provides promotional offers such as bonus points, cashback incentives, or discounted interest rates, enhancing the value proposition for cardholders.

Complimentary travel insurance

Many Virgin Money Credit Cards offer complimentary travel insurance, providing cardholders with peace of mind and financial protection when traveling domestically or internationally.

Cons

Limited acceptance outside

Australia Virgin Money Credit Cards may have limited acceptance outside Australia, particularly in regions where Visa or Mastercard networks are not as prevalent, potentially causing inconvenience for travelers.

Higher interest rates

Some Virgin Money Credit Cards may have higher interest rates compared to other credit cards in the market, making them less suitable for cardholders who carry a balance on their cards from month to month.

Eligibility criteria

Eligibility criteria for Virgin Money Credit Cards may be stringent, requiring applicants to meet specific income and credit score requirements, potentially limiting access for some individuals.

Limited customer service channels

Virgin Money's customer service channels may be limited compared to larger banks, which could lead to longer wait times or difficulty in accessing support when needed.

Rewards redemption restrictions

The redemption options for rewards earned through Virgin Money Credit Cards may be limited or subject to restrictions, potentially limiting the flexibility and value of the rewards program for cardholders