Virgin Australia Velocity Flyer Credit Card – Bonus Points

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.

The Virgin Australia Velocity Flyer Credit Card

With the Virgin Australia Velocity Flyer Credit Card, new cardholders can enjoy up to 40,000 Velocity Points when they spend $2,000 or more on eligible transactions in the first 2 months plus another 20,000 points when they spend $10,000 on eligible transactions in the first 12 months from card approval. Add to that a $0 annual fee for the first year, a $129 Virgin Australia Gift Voucher each year plus 0% p.a. on balance transfers for 20 months offer, and this card becomes very tempting indeed.

What we love...

First up, that bonus points offer. As a new cardholder, you will receive 20,000 Points when you spend $2,000 or more on eligible transactions in the first 2 months then you will earn another 20,000 Points when you spend $10,000 on eligible transactions in the first 12 months from card approval. With up to 40,000 Velocity Points on offer, this is a pretty sweet deal – especially if you would tend to spend that amount on your card in a year anyway.

Where could you go with 40,000 Velocity Points? If you fancy a holiday trip within Australia, you could fly roundtrip Economy from Brisbane to Adelaide for 37,800 or from Sydney to Gold Coast for 26,600 plus taxes, fees, and carrier charges. As soon as international flight redemptions are available, you can also use your points for travel to your favourite overseas destinations. Point calculations are accurate but may be subject to change without notice. All routes may have additional taxes and charges.

When it comes to everyday points earning, the Virgin Australia Velocity Flyer Credit Card offers an earn rate that is pretty standard for a mid-range card. Unfortunately, it does have points shaping, but this may still work for you if you aren’t too much of a big spender. You will earn 0.66 Velocity Points per $1 up to $1,500 per statement period, and 0.5 Velocity Points per $1 thereafter.

Something that may make up for that is the fact that you can enjoy a $129 Virgin Australia Gift Voucher each year you are a cardholder. All you need to do is make an eligible purchase in the two months prior to requesting your voucher. The voucher is valid for six months from the issue date, and can be used to book travel with Virgin.

At this point, it’s also worth noting that with the Virgin Australia Velocity Flyer Credit Card, you will benefit from a $0 annual fee in the first year. Reverting to $129 each year thereafter, the card’s standard annual fee kind of pays for itself with the gift voucher of the same amount on offer. You may add up to 4 additional cardholders for an extra cost of $39 p.a. each.

Last on the list of lovely things on this card is its balance transfer offer. New cardholders can take advantage of 0% p.a. on balance transfers for 20 months. If you have existing credit card debt that you want to clear, this balance transfer offer may just be the way you can do that, providing you with more than a year with no interest on that transferred balance.

What’s not so great...

Back to that balance transfer offer. Of course, balance transfer offers can provide an awesome money-saving tool – but, they need to be used correctly. Cardholders should know that if they fail to clear their transferred balance before the end of the intro period, their remaining balance will start accruing interest at the card’s cash advance rate.

Other things to be aware of with the balance transfer offer is the fact that you can only transfer up to 80% of your approved credit limit, and while you have a balance transfer on the card, you will not benefit from the card’s interest free period. On top of that, the card has a high purchase rate, so cardholders should avoid leaving a balance unpaid month-to-month.

Why should you choose this card?

If you’re looking for a card that earns Velocity Points on everyday purchases, but doesn’t break the bank in annual fees, the Virgin Australia Velocity Flyer Credit Card could be for you. If you enjoy travelling, you could benefit from up to 40,000 bonus Velocity Points, plus a $129 gift voucher to spend on Virgin products.

In terms of other features, the Virgin Australia Velocity Flyer Credit Card offers Fraudshield and Visa's Zero Liability policy, Transit Accident Insurance and Guaranteed Pricing Scheme. If you have debt on other credit cards that you want to pay off, check out the terms and conditions on the card to see whether its 0% p.a. balance transfer offer provides a good deal for you.

Overall Rating

The Virgin Australia Velocity Flyer Credit Card is a frequent flyer card that offers up to 40,000 bonus Velocity Points after a minimum spend, a $129 Virgin Australia Gift Voucher each year, a $0 annual fee in the first year, and 0% p.a. on balance transfers for 20 months.