Frequent Flyer Credit Card Analysis: Virgin Australia Velocity Flyer

Information verified correct on October 27th, 2016

Are you someone who loves travelling? If so, you might be one of those people who could reap significant benefits from using the right rewards credit card.

Despite their slightly higher annual fee, rewards credit cards are still convenient commodities when travelling. As long as you pay your bills on time and you know the terms and conditions that go with it, you will be able to ensure the benefits outweigh the costs. This is even easier when you consider that credit cards today have given more and more perks and benefits to attract their customers. Things like travel insurance, discounted flights if you enroll in their frequent flyer programs, access to first class facilities, and many more.

If these things appeal to you, how does a $129 p.a. annual fee, 20.74% p.a. rate, or 50% off flights 4 times a year sound to you? If these sound appealing to you, then you might want to check the Virgin Australia Velocity Flyer Card.

Is It Worth It?

The Virgin Australia Velocity Flyer can be considered as one of the youngest credit cards in the market which have joined the frequent flyer program field. Released by Virgin Money, the revolutionary company likes to remind their customers that they are in business to keep the big banks honest.

One of its outstanding reward features is their 2 for 1 deal which you can use 4 times a year. But then you ask, is it worth it?

In order to see if the 50% savings is worth it, try to calculate a flight to a destination you want to go with all its rates and charges. A good example might be like this:

You are flying to Cairns with a friend. If you take advantage of their two for one deal, you will pay a total of $497. Then, say you include the $99 annual fee that will be a total of $596.

Now compare that with booking a flight to the same destination via Jetstar; but this time without using any credit card. You will have to pay $904. If you look at the figures, despite the annual fee, you could still save $300 more by using the Virgin Australia Velocity Flyer credit card.

Rewards and Risks

After looking at the savings you can get from its 2 for 1 promotional offer, will the Virgin Australia Velocity Flyer credit card still stand out after assessing all its upsides and downsides?

Features and Benefits of the Virgin Australia Velocity Flyer Rewards Credit Card

  • Travel Insurance. Virgin Australia Velocity Flyer credit card has some features that may not appeal to some and one of these is the absence of travel insurance.
  • Capped ratio. If you are someone who is trying to earn Velocity Rewards points, you might not want to be restricted by the capped ratio. Virgin Australia Velocity Flyer is capped to $1,500 a month which, once reached, would give you 1 point for every $2 spent. It may not seem to be a big deal for some; but for people who are really using their plastics for almost any kinds of purchase to earn points, then you might scratch the idea of getting this card.
  • A 20.74% p.a. interest rate for 6 months. This 0% applies to balance transfers and purchases. For a period of 6 months, as long as you pay on time, you can enjoy shopping and many other things without worrying about interest rates. It also gives you a lot of time to consolidate all your accounts into one card with zero interest.
  • Up to 44 days interest-free period. Once the 6 months 0% program has expired, you don’t need to worry. Virgin Australia Velocity Flyer gives you a 44-day interest-free period – that’s more than a month of extra time for you to pay off without any interests.
  • Low annual fee. Think of $99 every year – not that much compared to a higher annual fee incurred by other credit cards.
  • Security. Virgin Australia Velocity Flyer is protected by a special security protection 24/7 which automatically detects any questionable or fraudulent purchases. There’s also Visa’s Zero Liability protection which prevents customers from paying purchases that are not theirs.
  • Price Protection. If you make any purchases using your card and there is a $75 or more difference than the advertised price, you could have a refund within 60 days of purchase.
  • In-flight discounts. This gives you a 50% discount on in-flight entertainment services.

Other additional benefits are the convenience and availability of the card in over 29 million locations all over the world. And from the 3 colours available – black, red, and white, you could choose what colour to go with your credit card.

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How to apply for the Virgin Australia Velocity Flyer Card

If you are interested in getting a Virgin Australia Velocity Flyer, you could apply online or visit the nearest local office. And be sure that you meet all the following requirements:

  • You are at least 18 years old
  • You are a permanent Australian resident
  • You have an annual income of $40,000

Whether the features and benefits seem so inviting, ensure first that the frequent flyer credit card you are getting is applicable to the destinations you are eyeing for. So is it true with the Virgin Australia Velocity Flyer credit card.

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One Response to Frequent Flyer Credit Card Analysis: Virgin Australia Velocity Flyer

  1. Default Gravatar
    Jaybee | November 3, 2013

    I have a Virgin Velocity card. I have applied for the free flight on 9 occasions, during non-peak times, and have only succeeded once with a free flight. It was a small one; Melbourne to Hobart.
    I’ll ask Virgin for a free flight with relevant details. Normally, the response is “there’s no available free flights then”. So when would be a good time to apply fro a free flight? “sorry sir, we can’t tell you that.” It is very close to a consumer rip-off.

Credit Cards Comparison

Rates last updated October 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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