Virgin Australia Velocity High Flyer Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
Virgin Australia Velocity High Flyer Credit Card
APPLY BY 31 oct 17
Earn up to 80,000 bonus Velocity Frequent Flyer points. (Conditions Apply)
Earn Velocity Points on your everyday spend.
0% p.a. for 15 months on balance transfers.
Add to comparison
Velocity Frequent Flyer
Velocity Frequent Flyer
1 pt
per $1 spent
up to $8,000
then 0.5 pts
per statement period
more info
80,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Earn up to 80,000 bonus Velocity Frequent Flyer points when you spend $3,000 per month on eligible transactions in the first 5 months and receive 16,000 Velocity points each month.
Exclusive new $129 Virgin Australia Gift Voucher which cardholders get each year.
0% p.a. for 15 months on balance transfers.
Earn 1 Velocity Point per $1 spent on eligible transactions in the first $8,000 per statement period.
You can also enjoy two complimentary Single Entry Virgin Australia domestic Lounge passes, on us, each year.
Complimentary travel insurance for you and your family when you book with your card.
Access to Visa Platinum Concierge Service.
Complimentary extended warranty insurance and complimentary purchase cover insurance.
Your card is protected by Fraudshield.
Interest rates on purchases are up at the high end of the range.
$289 p.a. annual fee.
After spend threshold, the points earn rate reverts to 0.5 pts per $1 spent.

Basic details

About this card

Card setup
Single
Card tier
Black
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$75,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Velocity Frequent Flyer
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$89 p.a.

Credit limits

Minimum credit limit
$15,000
Maximum credit limit
$50,000

Repayments

Interest charged from
Statement date
Interest free period
Up to 44 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months0%80% of credit limit20.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Yes
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Virgin Australia Velocity High Flyer Credit Card at the promotional balance transfer rate from:

  • Bank of Queensland
  • Virgin Money

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months0%80% of credit limit 20.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.75% 20.99% p.a.
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$289 p.a.
Cash advance fee
2.7%
Dishonour fee
$15
Duplicate statement fee
$7
Foreign exchange fee
3.3%
Late payment fee
$10
Over limit fee
$40
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
N/A
Transaction verification fee
$7

Rewards

Cool stuff you can get with your points

Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

Earn rates

Spend typeSpend
Airline spend
Up to $8,000
1 pt per $1 spent
per statement period
0.5 pts per $1 spent
ResetN/A
Points capN/A

Rewards program basics

First purchase bonus
80,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Spend required for bonus points
N/A

Earning points with this card

ATO payment earns rewards
0 pts per $1 spent
Frequent flyer points
0.5 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Reward points
0.5 pts per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,341

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
$50
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
$10
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
$40
Travel
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
$290
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Total estimated value$1,341
Annual fee$289
Net customer value$1,052
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $75,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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