Virgin Australia Velocity Flyer Card – Balance Transfer Offer

This card offers 0% p.a. on balance transfers for 28 months and a $0 first-year annual fee, but no interest-free days on purchases while you have a balance transfer.

If you want to pay off an existing debt, this Virgin Australia Velocity Flyer offer gives you 0% interest on balance transfers for the first 28 months. You'll also save with a $0 annual fee in the first year. But if you're still repaying your balance transfer after the introductory period, you'll be charged interest at the cash advance rate – currently 20.99% p.a.

The Virgin Australia Velocity Flyer credit card also offers a Virgin Australia Gift Voucher worth $129 every year and earns Velocity Points on eligible transactions. It doesn't offer interest-free days on purchases when you have a balance transfer, so it's usually better to focus on paying that off before using the card for new purchases. If you're more interested in points, check out the Virgin Australia Velocity Flyer's bonus points offer instead.

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Amy Bradney-George

Last Updated Sep 22, 2021

0% p.a.

Balance transfer rate

for 28 months

20.74% p.a.

Purchase rate

0.66

Reward points

Per $ spent

$0 p.a.

Annual fee

for the first year ($129 p.a. thereafter)

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Details

Product Name	Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Rewards program	Velocity Frequent Flyer
Balance transfer rate	0% p.a. for 28 months
Balance transfer revert rate	Cash Advance Rate (20.99% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	20.74% p.a.
Annual fee	$0 annual fee for the first year ($129 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	20.99% p.a.
Min credit limit	$6,000
Max credit limit	$100,000
Card type	Visa
Foreign currency conversion fee	3.3%

Minimum income	$35,000
Available to temporary residents	No
Joint application	No

Pros

0% interest on balance transfers for the first 28 months, with no BT fee
$0 first-year annual fee ($129 p.a. thereafter)
$129 Virgin Australia Gift Voucher each year

Cons

Purchase interest rate of 20.74% p.a. is relatively high
A 3.3% fee applies to transactions made in a foreign currency

Rewards program	Velocity Frequent Flyer
Bonus points	N/A
Rewards points per $ spent	0.66
Rewards points cap	Uncapped

Annual fee	$0 annual fee for the first year ($129 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.3%
Cash advance fee	2.7% or $2.70, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$39
Number of additional cardholders	4

Go to Virgin Money (Bank)'s site More info

Review by

Amy Bradney-George

[email protected]

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Virgin Australia Velocity Flyer is an entry-level frequent flyer credit card that is currently offering a long 28-month interest-free balance transfer and a $0 first-year annual fee.

While these are valuable features when you want to save on credit card costs, be aware that you don't get any interest-free days on new purchases while you have a balance transfer. So focusing on paying down your existing debt will help you make the most of this offer.

Beyond the introductory offer, this card also features a complimentary $129 Virgin Australia gift voucher each year, transit accident insurance and a guaranteed pricing scheme.

How to apply

You can apply for the Virgin Australia Velocity Flyer online in around 10 minutes and will need to apply by 30 September 2021 to take advantage of the balance transfer offer. To get started, make sure you meet the eligibility requirements and have the documents and details you'll need for the application.

Eligibility criteria

Eligible balance transfer debt. You can transfer from $500 up to 80% of your available credit limit from Australian accounts not issued by Citigroup; this includes credit cards, store cards, personal loans and lines of credit.
Minimum income. You must earn a minimum of $35,000 a year to apply for this card.

Residency. You must be an Australian citizen or permanent resident.
Minimum credit limit. You must be willing to accept a minimum credit limit of $6,000.
Credit history. You must have a good credit history. You can check your comprehensive credit report and score for free through Finder.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, mobile number, residential address, living situation and driver's licence number or passport.
Employment details. This includes your job title, salary and your employer's name and contact details. You'll also need to provide documents to verify your income, such as recent payslips or your last tax assessment notice.
Financial information. This includes details of your income and assets (such as savings or investments), as well as any existing debts and financial commitments such as bills.
Balance transfer information. To transfer a balance to this card, you will need to provide the card or account number(s) of any balances that you are applying to transfer.

Go to Virgin Money's site More info

Card benefits

Balance transfer. Apply by 30 September 2021 and save with 0% interest on your transferred balances for the first 28 months. After the introductory period expires, any unpaid balance will be charged interest at the cash advance rate, currently 20.99% p.a. Please note that you will not earn points on balance transfers and a balance transfer debt disqualifies you from interest-free days on new purchases.
Waived first-year annual fee. Save with a $0 annual fee for the first year, which goes to $129 from the second year on.

$129 gift voucher each year. You can enjoy a $129 Virgin Australia Gift Voucher each year. All you have to do is make a retail purchase with your card within two months before requesting your voucher to unlock your benefit. You can use your voucher to book Virgin Australia flights or selected Virgin Australia holiday packages anytime within the first 6 months from voucher issue date.
Velocity Points. For the first $1,500 spent on eligible transactions, you'll earn 0.66 Velocity Points per $1 spent. An earn rate of 0.5 Velocity Points per $1 spent will apply thereafter. Eligible purchases include most everyday spending but does not include things like balance transfers, cash advances, BPAY payments or government transactions.
Complimentary insurance. For travelling, transit accident insurance covers you in the event of an accidental injury or death while moving from one place to the next. This is contingent on you purchasing the tickets in advance with your Flyer credit card. Eligible items purchased on your card are also subject to the guaranteed pricing scheme.
Additional cards. To earn more Velocity Points, you can request an additional card for $39.
Samsung Pay. You can link your credit card with Samsung Pay to make contactless payments with your eligible smartphone or smartwatch.

Rates & fees

Annual fee. Outside of any promotions, this card charges an annual fee of $129.
Interest rates. This card charges an interest rate of 20.74% p.a. on purchases and 20.99% p.a. on cash advances.

Interest-free days. You can save with up to 55 days interest-free on purchases provided that you pay your balance in full by the due date on each statement. Please note that you are not eligible for interest-free days while you are carrying debt from a balance transfer.
Foreign exchange fee. When making purchases while travelling overseas, a fee of 3.3% of the transaction amount is charged. Fees charged will be reflected as a single amount on your credit card statement.
Minimum credit limit. The credit limit for this card starts at $6,000.

Go to Virgin Money's site More info

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Virgin Australia Velocity Flyer Card – Balance Transfer Offer