Velocity Cards

Updated 3 August 2020

After entering into voluntary administration on April 21, Virgin Australia announced that it was placing a four-week ‘pause’ on Velocity Points redemptions. This news left Velocity’s ten million members wondering what the future would hold for the program, with many expressing concern over what might happen to their accumulated Velocity Points.

While no one yet knows what will happen to either Virgin Australia or Velocity, we can tell you what we know so far.

First up, while Velocity may be owned by the Virgin Australia Group, it is in fact a separate company. That means while Virgin Australia may be in administration, the Velocity program is not.

Virgin Australia’s administrator has stated clearly that it wants to “restructure and re-finance” the business to “bring it out of administration as soon as possible”. If successful, this may create a new Virgin Australia that is better equipped to succeed. Alternatively, the restructured business may be bought by another company, to create a new future for the airline. But, while the future of Virgin Australia remains unclear for now, the administrator has remained firm that Velocity will not be sold off without Virgin Australia. It is a package deal.

As a Velocity member, there is not much you can do right now but wait. In terms of what is happening right now, Virgin Australia announced in a statement that:

  • Velocity Points will remain in members’ accounts.

  • Velocity Points will not expire through this ‘paused’ period, so any points due to expire will be extended.

  • Members can continue to earn Velocity Points, but cannot redeem them.

  • The ‘pause’ period will initially last four weeks, starting from April 21. This may be extended.

If you already have a Velocity credit card, you have three options open to you. You can continue using your card to continue earning points, you can make the switch to another card, or you can ‘pause’ using your card until you know what’s going to happen to the program.

And if you are thinking of applying for a new Velocity credit card? As the situation stands, it’s probably a good idea to hold off any new applications for now until an announcement on the future of Velocity is made. If you’re keen on earning rewards, check out what’s on offer within our selection of rewards cards, or take a closer look at Qantas’s offering.

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Take off with Velocity Points

Earning Velocity Points on your credit card, your everyday spending could take you on the trip of a lifetime. Redeem your Velocity Points for flights and upgrades, hotel stays, holiday packages and more. Want to stay closer to home? Velocity Points can also be redeemed within Australia on everything from gadgets to gift cards, with some awesome options available online through the Velocity Rewards Store.

Velocity Card Essentials

With Virgin Australia in voluntary administration, the future of the Velocity program remains unclear. While you can still use your current Velocity credit card to continue to earn Velocity Points, it’s not yet known what those points will be worth once the Virgin Australia Group has been restructured.

For that reason, while you can still choose to apply for a direct earn Velocity credit card, it may be a better idea to hold off on making your application until we know for sure what will happen to the Velocity program.

We will keep this page updated as we find out more. Until then, read up on what’s been happening in our in-depth post on the Velocity topic. It provides all the need-to-know on what’s happened so far, some likely scenarios for the future, and what your options are as a Virgin credit cardholder.

You can also check out the statement Virgin Australia made to its members below in our FAQs.

Time For Change?

If Virgin Australia’s woes – and the uncertainty surrounding what’s going to happen to Velocity – is making you wonder whether a Velocity credit card is actually the right choice for you, here are some alternative options for you to consider.

Qantas Credit Cards

Virgin Australia’s main competition in the frequent flyer space is of course Qantas. There are plenty of Qantas credit cards to choose from, each of which allows you to earn Qantas Points on everyday spending.

It should be pointed out though, with travel restrictions expected to be in place for some time, it will be a while before you can earn points on flight purchases using your card, which with this type of card typically offers a higher earn rate. You would also be unable to redeem your points on travel. As flights and upgrades typically offer the best value on redemptions, this may lower the overall value of keeping a frequent flyer credit card – for now, at least.

Rewards Credit Cards

There is a lot more to rewards than just frequent flyer programs. Within Australia, there are heaps of rewards programs to choose from. Not only does each of the Big Four have its own rewards program, other providers such as American Express offer rewards programs of their own.

Check out our selection of rewards cards to find offerings from the big banks and beyond. When weighing up your options, be sure to take into consideration each card’s annual fee, its earn rate, and what kind of value it will offer on your spending.

No Annual Fee Cards

With the economic turndown causing so much financial uncertainty, you may decide that a rewards card – with its typically higher annual fee – is not for you. If you want to save on annual fees, take a look at our selection of no annual fee credit cards.

While these cards tend to be somewhat basic, they can work for cardholders looking to simplify their wallet – and can offer serious savings compared to premium cards and rewards offerings.

Low Interest Cards

To make a rewards card work for you, you need to clear your balance each month. Why? When you carry a balance, you pay interest. Given the fact that rewards cards typically have a higher interest rate, any interest you pay will quickly wipe out any value in rewards you receive.

So, if you tend to carry a balance, you may want to consider switching to a card with a low interest rate as an alternative to higher interest rewards cards. And while low rate cards tend to have fewer features, they could help you save big money.

We’re committed to keeping our members updated throughout these uncertain times of coronavirus and reduced travel.

We wanted to share some information regarding temporary changes to the Velocity program and what this means for our members.

You may be aware that some of the Virgin Australia Group companies have entered Voluntary Administration. Deloitte has been appointed as the administrators, meaning they have assumed responsibility for the business and operations of those companies in administration.

The intention of the administrators is to bring the relevant Virgin Australia Group companies out of administration as quickly as possible and return to normal operations.

Although Velocity is owned by the Virgin Australia Group, it is a separate company and it is not in administration. That means we’re still operating, but we’ve made some temporary program changes in the interests of members.

We’ve made the difficult decision to pause all redemptions for an initial period of four weeks, effective immediately. This means our members won’t be able to redeem their Points for rewards during the pause.

We know how much our members love to plan their travel and use their Points to redeem flights, however the ongoing travel restrictions and reduced flights have limited the options for them to use Points for flights. We’re seeing more members use Points to shop online for items such as gift cards, electronic goods, and wine. This unexpected demand has made it difficult for our suppliers to provide these offers and limits the availability for all members to redeem their Points.

What our members need to know:

  • Your Points aren’t going anywhere. They will remain in your account.
  • Your existing Points will not expire through this period. We will be extending the expiration period for your existing Points by the timeframe of the pause.
  • You can continue to earn Points with our partners, although you won’t be able to redeem them during the pause.
  • These changes take effect immediately. Although the initial timeframe for this restriction is four weeks, this period may be extended. We will come back to you with an update as soon as we can.

What’s next?

Velocity has a trustee in place to look after the interests of members. We will continue to assess a range of options for the program and we want that to include a continuation of our long-standing partnership with Virgin Australia.

We thank you for your patience, loyalty and understanding in these challenging times.

The Velocity Frequent Flyer team

Comparing Velocity cards is easy when you have CreditCard.com.au on your side. But, what should you look for when you’re comparing options? Here are some of the most important factors that will impact your decision.

  • Your Spending Habits: For your Velocity card to be worthy, your annual card spend must equate to a higher points value than your annual fee. To calculate this, first estimate your annual spend, and then work out what that equates to in Velocity points. Taking into account what you would redeem those points for, work out the dollar value of your annual spend in points form. Now, all you need to do is compare that to the amount you will pay in annual fees.
  • Your Travel Habits: Some Velocity cards offer a higher points earn on Velocity purchases, while others offer the same earn rate across the board. If you travel frequently with Virgin and its partners, opting for a card that rewards this style of spending may allow you to earn points faster and get more value from the card.
  • Your Repayment Habits: One of the most important things to remember about rewards options such as Velocity cards is that you need to minimise outgoings to maximise the value of the points you earn. That means avoiding unnecessary fees and interest by always paying your balance each month in full and on time.

As a member of the Velocity program, you can earn points in a number of ways.

  • In the air: You can earn Velocity Points when you purchase eligible flights with Virgin Australia and its airline partners, flying to more than 600 destinations worldwide.
  • With bonus points: If you climb the ladder to become a Silver, Gold or Platinum level member, you will earn a Velocity Points bonus when you book with selected Velocity travel partners, as well as on flights with Virgin Australia and its partner Etihad Airways.
  • On the ground: You can earn Velocity Points when you make a booking with Virgin’s global travel partners, as well as with its everyday partners, such as BP, Virgin Active, onsport.com.au or ride sharing company Ola.

Of course, if you also have a Velocity credit card, you have the opportunity to ‘double dip’ on your spending. When you use your Velocity card to book flights with Virgin, for example, you could earn more points per $1. The same applies when using your card with Virgin partners. Not only do you earn points for shopping with these partners, you also earn points on your card spending as standard.

Once you have accumulated enough points, you can redeem them for rewards.

  • Flights: You can redeem your points for flights to over 600 destinations worldwide.
  • Upgrades: You could opt for an upgrade when flying Virgin Australia, where you can experience the luxury of Business Class on Domestic and International Short Haul flights. You now also have the option of upgrading when you fly on an eligible Delta Air Lines flight with a VA flight number.
  • Travel: Redeem your points for travel with Virgin’s car hire and hotel partners, or book through Virgin Australia Holidays.
  • Velocity Rewards: Choose from hundreds of products and gift cards, with big names such as Dyson, Bose and Apple heading the bill.
  • Onsport.com.au: You can redeem your points or use a combination of Points + Pay to purchase a wide range of fitness and sporting goods from the world’s biggest sport and fitness brands.
  • Velocity Wine Store by Laithwaite's: If you fancy a tipple, use your points to pay for your choice of premium wines, beers and spirits.

Velocity membership is tiered. When you join the Velocity program, you start at the Red level. From there, you can move up to Silver, Gold and Platinum levels, according to how many Status Credits you earn each year. With each tier you ascend, you gain certain privileges. These can include a higher points earn, Virgin Lounge access, priority check-in and extra luggage allowances.

No, Velocity points technically do not expire, however the Velocity website states that accounts which have no points earned or redeemed within a three year period may become inactive and be closed. Any remaining points balance would be terminated if that happened.

This is known as the ‘three year rule’ and applies from the date the Velocity account was opened.

Yes, you can transfer your Velocity points balance (up to a certain amount) to eligible family members. You can make up to four transfers per year, and should read the section entitled ‘Points Transfers’ in the Velocity terms and conditions to find out more.

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10 questions (showing the latest 10 Q&As)

drago

drago

21 June 2020
My current credit card has expired so can i renew it thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 June 2020
    Hi Drago, what card is it? Typically in the month that your card expires. You should be sent a new one from the bank.
Shammi

Shammi

22 February 2020
I need to know the BSB and account number in order to transfer money into my velocity card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 February 2020
    Hi Shammi, what is your actual card name? i.e. what bank is it with? Then you need to find the bpay number. Then your reference number will be your credit card number.
Kenneth

Kenneth

30 December 2019
Hi Roland I can't loginto my Velocitymembership to claim points?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 December 2019
    Hi Kenneth, if you have a Velocity Frequent Flyer membership then you should be able to login - https://experience.velocityfrequentflyer.com/. If you have forgotten your password or need to setup one you can do this on the Velocity site.
John spooner

John spooner

14 May 2019
I have a velocity master card will the total spend for the month be taken to pay off all at once
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    15 May 2019
    Hi John, I am not completely sure what you are asking. You need to at least pay off the minimum amount each month. You should be able to arrange with your credit card company, a direct debit. This would mean that your credit card is paid off automatically in full each month from a set bank account.
Matthew Hook

Matthew Hook

6 January 2018
my wife has a velocity visa debit card and is trying to put money on it to use it, what is the BSB and account numbers, She has not written anything down.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    8 January 2018
    Hi Matthew, she will need to contact the bank directly that issues the card or login online to access her account information.
eleanor skoien

eleanor skoien

29 December 2017
I have a velocity visa card but don't know how to use it. I can't access help on how to prepay the card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 January 2018
    Hi Eleanor, what bank is the issuer of the card? e.g. Virgin? Does it say Visa Debit on the card or is it a credit card?
Grasiela Swindale

Grasiela Swindale

11 November 2017
Can I use Velocity Card in Chennai India
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 November 2017
    Hi Grasiela, as long as they accept visa or Mastercard (depending on your card type), then you should be able to use your Velocity card in Chennai. I would check with your individual bank before leaving to see if there could be any issues. Also its good to let them know that you will be travelling so they don't try and block your card whilst overseas.
Caroline Worrell

Caroline Worrell

10 July 2015
Hi, I have a Commbank credit card with a Balance Of $4000 and am looking at getting a Velocity Visa card ... I am a velocity an d want a Velocity credit card to use just when I'm overseas on holidays. I am on a Pension of $24,488 ... I would only want a $2000 limit. Any thoughts
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 July 2015
    Hi Caroline - I would speak to Commbank themselves as you are a customer and this will make the process easier. Their awards credit cards can convert into Velocity points. If you have a branch nearby, pop in and have a chat to see what they say. You can apply online through Netbank also.
Steven Burn

Steven Burn

5 September 2014
I am looking for a Velocity credit card that gives me maximum points on my spend. I run a business and want to know can I set up a card through the company or do I have to do it through my personal name? My suppliers are not willing to accept Amex so Visa is preferred. Thanks for your help.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    8 September 2014
    Hi Steven - Highest earner appears to be https://www.creditcard.com.au/virgin-australia-velocity-high-flyer-credit-card/ - virgin high flyer - 1.25 per dollar uncapped on a visa. Issue with this card that it is personal and would require 51% of expenses to be personal for the business expenses to count. AMEX have a good business card but that is no go due to your supplies. All and all I dont know that many cards that drive Velocity points. I use the Citi Select - in my personal name - they do 2 points per dollar spent. They also convert points to Velocity - Velocity Frequent Flyer, the frequent flyer program of Virgin Australia 1.5 Citibank reward points = 1 Velocity point, redemptions must be in multiples of 15,000 Citibank reward points. This makes this card probably the best out there - https://www.creditcard.com.au/citibank-select-credit-card/ - high annual fee but when you are getting big rewards / a big spender - its worth it. Best of luck with your application
melanie

melanie

5 February 2014
What does it mean when it says go for a co-branded card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 February 2014
    Hi Melanie, a co-branded credit card is one that is issued by both a bank and a retail company. For example, the American Express Velocity Escape is co-branded between AMEX and Virgin whereas if you look at the American Express Platinum Edge , it is purely an AMEX platinum card.
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