Virgin Australia Velocity Flyer – 0% Balance Transfer

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

Virgin Australia Velocity Flyer Credit Card

Don’t you just love a great offer? Whether it’s the perfect pair of shoes that just happen to be on sale, or a buy-one-get-one-free offer on, well pretty much anything. When it comes to credit cards, you can find special offers all over the place. But while some of them certainly are great, some of them are not so special.

Luckily for us, the current offer on the Virgin Australia Velocity Flyer Credit Card fits firmly in the former category. Not only can you benefit from 0% p.a. on balance transfers for 24 months, you pay no annual fee the first year when you apply for a new card and you can earn an exclusive $129 Virgin Australia Gift Voucher, each year.

Phew. I think we might need to sit down.

Want to find out what else the card has to offer? Let’s take a look.

What we love...

First up, let’s look more closely at the card’s awesome introductory offers. This is a super long balance transfer offer, giving you a massive 24 months to pay down your transferred balance. If you are not moving over a balance and are looking to spend on the card there is another intro offer available on purchases for this same card - click here.

When we’re talking about frequent flyer cards, we usually expect to pay a substantial annual fee. Comparable frequent flyer cards include the Qantas Premier Everyday Credit Card and the ANZ Frequent Flyer Card- both earn Qantas Frequent Flyer points at a lower annual fee of $49 and $99, respectively. Yes, we know that these cards have a lower standard annual fee, but the Virgin Australia Velocity Flyer Credit Card has a trick up its sleeve.

As a cardholder, you can receive a $129 Virgin Australia Gift Voucher, each year. All you need to do to unlock this offer is make a retail purchase on your card within two months prior to requesting your voucher. You can then use the voucher when booking Virgin Australia flights (including sale fares) or selected Virgin Australia Holidays packages, any time within six months of the voucher issue date.

Want more? You got it. Let’s talk earn rates. You’ll earn 0.66 Velocity Points per $1 spent up to $1500 per month, then 0.5 Velocity Points thereafter.

What’s not so great...

As with any balance transfer offer, it’s best to pay off the transferred balance before the intro period ends. This is most definitely the case with the Virgin Australia Velocity Flyer Credit Card, as the balance transfer rate reverts to the cash rate of 20.99% p.a. at the end of the intro period.

It’s also worth noting that it features a purchase rate of 20.74% p.a., which could get pretty darn expensive if you carry a balance on this card.

Why should you choose this card?

This card would be a fantastic option if you want to pay off a substantial balance on an existing card. We think 0% p.a. on balance transfers for 24 months is a pretty good deal indeed. But, with its high purchase rate, be sure to pay off that transferred balance and any purchases before they start attracting interest.

If you’re looking for an affordable card that offers decent Points-earning potential – and you happen to like flying Virgin – then this could be the ideal choice. You can earn Points for everyday spending on the card, and higher Points when spending with Virgin Australia.

Any other nifty features? You can enjoy complimentary Purchase Protection and Extended Warranty insurance on purchases.

Overall Rating

Awesome intro offer on an affordable Velocity frequent flyer card. Gift voucher offer, long balance transfer plus other extras such as decent Points-earning potential for everyday spending.