- 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.
- 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: 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.
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Virgin Money Credit Cards
Virgin Australia Velocity Flyer – 0% Balance Transfer
Updated 15 November 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.
Terms and conditions applyPurchase Rate (p.a)
20.74%
Balance Transfer (p.a)
0% for 24 months
1% balance transfer fee applies.
Reverts to 20.99% p.a.
Annual Fee (p.a)
$149
Pros and cons
- 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 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
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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.
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.
$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.
- 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 44 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
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 44 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 1% one off
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 $100,000
Fees & repayments
Annual fee $149 p.a.
Additional cardholder fee $39
Foreign transaction fee 3.3%
Minimum repayment $30 or 2%, whichever is greater
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
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. 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
- 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
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Be over 18 years old
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Good Credit and have not applied for multiple credit cards recently
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Resident or citizen of Australia
-
Minimum income of $35,000 p.a.
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 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.
Ask a question173 questions (showing the latest 10 Q&As)
My daughter is 19years old works fulltime on wage $73,000pa with very little expenses.. Has never applied credit card. She is interested in apply for first credit with reward points. Do youthink application for the VA velocity card would be accepted?
Hi Elizabeth, it sounds like your daughter is doing super well already! Still, even with great income, credit scores and history are a big part of the application criteria. It's likely your daughter has no score or history yet (unless she already has another line of credit like a mortgage or student loans or even just a phone plan). Most first-time cardholders look for more basic cards with easier eligibility criteria to build up a credit history and score, before shooting for cards with more difficult eligibility like rewards cards. Good cards to look at are ones with no annual fee or low fees. We’ve also compiled cards in our First Time Cards guide here. Some food for thought for you both, and good luck!
Can I pay latitude personal loan using the balance transfer??
Hi Sweety, I've looked into this, and upon checking, yes, it does allow balance transfers from personal loans. Make sure to read the PDS and T&C’s closely to see if your banking institution is listed
Hi, regarding the balance transfer for eg we have 12k loan approved and we did balance transfer for about 10k to pay personal loan what amount of fees will be added if we decided to pay in 12 months??
Hi Sunny, there are no early repayment fees with this balance transfer. It gives you 24 months interest free (as long as you make the regular repayments) and if you pay it off earlier, then awesome! 👏You’re a winner!
I have tried to apply for balance transfer credit card and it's declined me. Why? I am not applying for more than covers the what I want to transfer
Hi Lorraine, I’m sorry to hear about your decline. There are so many reasons it could have happened, and it would be more to do with the credit card than the balance transfer. It could be something to do with income, expenses, home or personal loans, other debts, credit rating, type of income…the list goes on. You can try calling to ask why you were declined (no guarantee you’ll find out, but worth asking) which can be helpful when you try next time. Thanks Lorraine
shall we transfer money to savings account or home loan account from this credit card?
Hi Theju, if you make transfers to a savings account or home loan it’ll be treated as a cash advance, which is charged 20.99% p.a. on this card. Probably best to avoid cash advances where
Hi, I have 2 existing credit cards that I would like to combine the debt into one. Can I transfer both to this option?
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.
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?
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!
I have read that you can not balance trasfer a Citi credit card balance - is this true?
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.
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?
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.
Will I receive any charges if I close the account after a balance transfer is fully paid should I wish too
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.
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?
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!
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?
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!
does this card have travel insurance for over seas travel
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!
Gerard Connolly
28 January 2013If 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