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Virgin Australia Velocity Flyer – 0% Balance Transfer
Virgin Australia Velocity Flyer – 0% Balance Transfer

Virgin Money Credit Cards

Virgin Australia Velocity Flyer – 0% Balance Transfer

Updated 1 July 2024

A champion of adventure, this card is big on earning frequent flyer points, $129 in free travel per year and great global experiences. 🌍

This version of the Virgin Australia Velocity Flyer also comes with a 0% p.a. balance transfer offer for 24 months to help you pay off debt interest-free. You’ll save even more with $0 annual fee the first year.

Terms and conditions apply

Purchase Rate (p.a)

20.74%

Balance Transfer (p.a)

0% for 24 months No balance transfer fee.
Reverts to 20.99% p.a.

Annual Fee (p.a)

$0 first year. Then $149 p.a.

$0 over 24 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Balance transfer: 24 months interest-free on your balance transfer, which includes personal loans and credit card balances (reverts to cash advance rate). Available to new cards who apply by 02 September 2024
  • Earning points: Earn 0.66 Velocity Points per $1 spent on eligible purchases, uncapped (up to $1500 in a statement period, and then it drops to 0.5 points per $1 after that).
  • Travel perks: Exclusive $129 Virgin Australia Gift Voucher, each year. Use the voucher when booking Virgin Australia flights (including sale fares) or selected Virgin Australia Holidays packages.
  • Extras: $0 annual fee the first year, then $149 after that. You can add up to 4 additional cardholders, and sync your card with Apple Pay, Google Pay and Samsung Pay.
  • Insurances: Complimentary Purchase Protection and Extended Warranty insurance covers, plus Guaranteed Pricing Scheme.

  • High standard interest rates like many rewards credit cards.
  • Earn rate drops to 0.5 points per $1 after $1,500 in a statement period.
  • $39 additional cardholder fee.

Creditcard.com.au review

Editor Review

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. about this card.

Who suits the Virgin Australia Velocity Flyer card?

Globetrotter: You love travelling and look for cards with extras that make globetrotting cheaper and easier. Deal Digger: You're always on the lookout for freebie perks and discounts like waived fees and free travel extras. Carefree Splurger: Budgets are a bummer, and you might need help with getting on top of debt. Low interest rates and low fees would be great.

Editor’s overall rating

The Virgin Australia Velocity Flyer card is like a scone on a Sunday afternoon; it’s great as is, but even better with its toppings of money-saving perks, Velocity Points and travel freebies.

It packs a lot in for a very low annual fee, which is waived the first year. Virgin Money calls it the adventurer's card, and I agree. The travel credit is fabulous and has very few strings attached. You can use it for a range of travel expenses, not just airfares, and you don’t have to spend it all at once.

The balance transfer is there if you want to pay off debt interest-free over 2 years, but just be warned you won’t get interest-free days while you have an active transfer.


Editor’s Review: What I love about the Virgin Australia Velocity Flyer - 0% Balance Transfer

The Virgin Australia Velocity Flyer is one card with several different deals to choose from. This review is specifically for the 0% p.a. balance transfer offer. You’ll still get the standard extras that make this card a great travel buddy and debt-buster.

I’ll walk you through the main features first, then look at the extras and some things to look out for.

Balance transfer offer: 24 months interest-free on a balance you transfer over from another credit card is a great deal and one of the longest promotional periods on offer. You’ll be able to transfer up to 80% of your credit limit and have 2 years to pay it off interest-free. Once the promotional period is up, you’ll pay 20.99% (the cash advance rate) on any balance left over.

$0 annual fee: you’ll pay no annual fee for the first year, and then $149 after that. That gives you a little extra cash to put towards paying off your debt.

$129 Virgin Australia Gift Voucher: every year you’ll receive a voucher in the form of a $129 Virgin Australia Travel Bank, which you can use towards flights and travel costs. You need to make a retail purchase within 2 months of requesting the voucher for it to activate.

The travel voucher is one of the reasons I like this card. It encourages you to travel more (at least once a year) and it can make travel easier if you’re a frequent flyer. It can be used towards fares with Virgin Australia and its partner airlines, fees and taxes, seat upgrades, pets in cargo fees and excess baggage fees.


Other extras

The Virgin Australia Velocity Flyer also comes with a range of other nifty extras, including exclusive Visa perks.

Complimentary insurances. You’ll get 90 days protection against loss, theft or accidental damage on eligible products purchased anywhere in the world.

Extended warranty insurance. Get up to 12 months of additional warranty on top of the product’s Australian warranty period when you buy the product on your card.

Visa Offers + Perks. As a Visa cardholder you can access exclusive offers, giveaways and discounts with restaurants and retailers around the world.

Virgin Money App. The app lets you track your spending, stay on top of payments and report your card as lost or stolen. It’s available on Google Play and the App Store.

Fixed Payment Options. There are a range of plans available to help you pay off debt or access more cash using Virgin Money’s instalment plans. You can access up to 90% of your credit as cash, or convert purchases into a simple monthly repayment plan. Check the terms for interest rates and fees.


Earning points

You’ll earn Velocity Frequent Flyer points with this card, which is the rewards program for Virgin Australia. It’s a great program to be in if you regularly hit the skies, but there are also some great ways to redeem your points on the ground too.

Redeeming points with airlines
  • You can use points to book Reward Seats to more than 500 destinations with Virgin Australia and its partner airlines.
  • Partner airlines include Singapore Airlines, United Airlines, Etihad Airlines, Virgin Atlantic and Air Canada.
  • Upgrade to Business class or Economy X (where you get premium seating, priority boarding and preferred overhead locker space) on eligible Virgin Australia flights.
  • Use Points + Pay to pay part of your flight with points and the rest with cash.
Redeeming points for anything else
  • Use points to treat yourself to homewares, technology, gift cards and fashion items at the online Velocity Rewards store.
  • Redeem points for wine at Virgin Wines Redemption.
  • Shop at Myer online and use points for purchases.
  • Use points to pay for hotel stays at over 400,000 locations globally.
  • Book a car hire using Points + Pay.
  • Redeem points with Luxury Escapes, which offers hotels, resorts, cruises, tours and more.

You’ll need to be a Velocity member to earn points, which is free to join through the Velocity website.


What’s not so great

If you want to add extra cardholders, be prepared to pay $39 per person, per year. Extra cardholders can’t use the Virgin Australia Travel Voucher; that’s reserved for the primary cardholder only.

While you have an active balance transfer, you won’t get the 55 days interest-free on purchases and you’ll start paying interest immediately. So, try to avoid using the card for everyday purchases while you’re paying off your debt. You’ll still get the travel voucher, but remember the eligibility criteria for the voucher states you need to make at least 1 purchase on your card within 2 months of requesting it.

Lastly, the Velocity Points you’ll earn per $1 drops from 0.66 to 0.5 points once you’ve spent $1500 on your card in a statement period. It’s not a huge difference in points, but it’s worth noting.


Who suits this card?

While the name suggests this is a card for frequent flyers, it’s also a good offer for people wanting to pay down debt from another credit card. It would suit travellers, points earners and those getting savvy with their debt.

User reviews

Virgin Australia Velocity Flyer – 0% Balance Transfer ( based on 61 Creditcard.com.au user reviews )

71% rating based on 61 reviews

Rates
Fees
Rewards
Customer Service
Value
66%

Gerard Connolly

28 January 2013

If you want to get virgin points then this is a good choice. I fly mostly virgin and this gets me 1 point for every dollar. It does have the restriction that stops you earning as many points after you spend $1500 in a month but you still earn points after that.

Recommends this card

Rates and fees

Interest rates



Purchase rate 20.74% p.a.

Cash advance rate 20.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 24 months

Balance transfer revert rate 20.99% p.a.

Balance transfer from personal loan Yes

Balance transfer fee No fee

Balance transfer limit 80% of approved credit limit

Brands you can't balance transfer from NAB, Virgin Money

Credit limits

Minimum credit limit $6,000

Maximum credit limit $30,000

Fees & repayments

Annual fee $149 p.a.

Additional cardholder fee $39

Foreign transaction fee 3.3%

Minimum repayment $30 or 2%, whichever is greater

Annual fee the first year $0

Cash advance fee 2.7% or $2.70 whichever is greater (domestic) ; $5 (international)

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Velocity Frequent Flyer Velocity Frequent Flyer

Bonus points N/A

Annual points cap uncapped

Bonus points spend criteria N/A

Earning points with this card

Velocity Rewards points 0.66 points per $1 spent

Points cap per month Capped at $1500, then 0.5 pts per $1 spent

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance No

Extras

$129 Virgin Australia Gift Voucher each year

Eligible with Apple Pay, Google Pay and Samsung Pay

Overview

Virgin Australia Velocity Flyer – 0% Balance Transfer

If you are a frequent flyer with Virgin, you’re sure to see the benefits of the Virgin Australia Velocity Flyer credit card, and if you sign up today you can also take advantage of 0% interest on balance transfers for the first 24 months. Pay no annual fee the first year when you apply for a new card, $149 p.a. thereafter. Plus, get an exclusive $129 Virgin Australia Gift Voucher, each year. Now that’s value.

Points can be redeemed for travel with Virgin Australia and other international partners. Earn 0.66 Velocity Points per $1 spent up to $1,500 per month, then 0.5 Velocity Points thereafter.

Other features of the card include 24/7 account access, FraudShield, Purchase Protection and Extended Warranty insurance covers.

Key features

  • Enjoy 0% balance transfer rate for 24 months, reverts to cash advance rate. Transfer a personal loan as well as a credit card balance
  • Pay no annual fee for the first year when you apply for a new card, $149 p.a. thereafter
  • Enjoy an exclusive $129 Virgin Australia Gift Voucher, each year
  • Earn 0.66 Velocity Points per $1 spent up to $1500 per month, then 0.5 Velocity Points thereafter.
  • Add up to 4 additional cardholders at $39 p.a. each
  • Complimentary Purchase Protection and Extended Warranty insurance covers
  • Pricing Guarantee on purchases
  • Eligible with Apple Pay, Google Pay and Samsung Pay.

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia

  • Minimum income of $35,000 p.a.

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask our credit card expert a question.

168 questions (showing the latest 10 Q&As)

Maggie

Maggie

2 April 2024
Hi, I have 2 existing credit cards that I would like to combine the debt into one. Can I transfer both to this option?
    Pauline - CreditCard.com.au

    Pauline

    11 April 2024
    Hi Maggie, you can combine the balances from your two existing credit cards into one as long as they are not issued by Virgin Money or NAB. However, please note that you can only transfer up to 80% of the approved credit limit. For instance, if your approved credit limit is $10,000, you can transfer a maximum of $8,000. Feel free to refer to our guidelines on balance transfers for more information.
Fed

Fed

1 March 2024
Hello, I have a credit card at 15k limit, owning approx $10k. What does the balance owing need to be in order to be eligible for a balance transfer?
    Pauline - CreditCard.com.au

    Pauline

    1 March 2024
    Hi Fed, interesting question. You'll need to make sure that the amount you are transferring is 80% or less of your approved credit limit. So you'll need to take your actual current balance and work out what that is 80% of. Hope that helps!
Danni

Danni

5 January 2024
I have read that you can not balance trasfer a Citi credit card balance - is this true?
    Pauline - CreditCard.com.au

    Pauline

    9 January 2024
    Hi Danni, NAB has updated its balance transfer policy to allow transfers from other NAB-issued cards, including Citi, to Virgin Money. For your peace of mind, I recommend confirming this directly with Virgin at 13 37 39.
Kate

Kate

2 January 2024
With this offer - can you balance transfer amounts where the balance is not in your name (ie in the name of supplementary cardholder and not primary cardholder)? Or can you apply for this card and then add a joint primary cardholder?
    Pauline - CreditCard.com.au

    Pauline

    4 January 2024
    Hi Kate, I had a dig through the T&C’s of the Virgin Money cards, and found this line - “You can apply for a balance transfer with a Virgin Money Credit Card and transfer any credit account balances with other financial institutions… “ You should check all details of the offer with the institution before you apply. Hope this has helped.
Tamara

Tamara

6 November 2023
Will I receive any charges if I close the account after a balance transfer is fully paid should I wish too
    Pauline - CreditCard.com.au

    Pauline

    15 November 2023
    Hi Tamara, you can request to close or cancel your credit card account at any time. Please note though that you still need to make your monthly payments for any fees, charges, and the like that aren’t posted yet at the time of account cancellation.
Mike

Mike

9 October 2023
Hi, can the Balance transfer be from part of a home loan (eg $10k from a $50k loan?)? Or does it need to be classified as a personal loan only?
    Pauline - CreditCard.com.au

    Pauline

    13 October 2023
    Hi Mike, I knew the answer was no but I double-checked with Virgin Money anyway - definitely a no! The acceptable transfers are from credit cards, personal loans and buy now pay later services. Thanks Mike!
Jean

Jean

4 September 2023
Virgin Australia Velocity Flyer – 0% Balance Transfer will it able to do balance transfer from Citi? According to “Rates & fee”Brands you can't balance transfer from Bank of Queensland ,Coles ,IMB ,NAB ,Qantas Money ,Suncorp ,Virgin Money. This does not include Citi?
    Pauline - CreditCard.com.au

    Pauline

    5 September 2023
    Hi Jean, NAB has just revised its balance transfers and now you can transfer from other NAB-issued cards like Citi. I’d still advise giving them a call directly first to confirm, but that’s what we’ve been told by NAB’s customer service. I’ve updated our rates and fees section. Thank you!
Leonardo Introna

Leonardo Introna

20 December 2022
does this card have travel insurance for over seas travel
    Pauline - CreditCard.com.au

    Pauline

    21 December 2022
    Hi Leonardo, I checked the Virgin Australia Velocity Flyer Balance Transfer offer card’s terms however, it does not include international travel insurance. You can compare some of the other credit cards that have free travel insurance for your options. Have a great trip!
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