Virgin Money’s Velocity Flyer and High Flyer cards are offering less points per dollar

What-is-the-velocity-frequent-flyer-rewards-program

Virgin Money Velocity Flyer and High Flyer cardholders will lose bang for their buck when redeeming rewards. Here’s everything that’s changing.

22 January 2016: Virgin Money has announced that some changes to Frequent Flyer credit cards could mean that cardholders lose out on rewards.

Both Virgin Money’s Velocity Flyer and High Flyer cards are about to become much less valuable. Effective April 1 2016, the rate at which cardholders can earn Velocity Frequent Flyer Points has reduced by up to 33%. Virgin’s competitive two-for-one flight deal is also being nixed and will be replaced by flight vouchers and lounge passes. Read on to discover exactly how much you could lose.

Reduced rewards earn rates

Velocity Flyer cardholders no longer earn one Point per dollar, with the rate dropping to 0.66 Points. Your points earning ability is reduced even further consider the Points cap remains at $1,500 per month. However, you can earn a bonus of one Point per dollar on purchases with Virgin Australia.

Velocity High Flyer cardholders has also experienced a reduced earn rate. Rather than 1.25 Points per dollar, you now earn one Point per dollar with a new points cap of $10,000 per month. However, you get bonus three Points per $1 spent with Virgin Australia.

No more TWO41 flight deals

Currently, cardholders can take advantage of the popular “TWO41” flight deal to book two Saver seats for the price of one on Virgin Australia flights. Unfortunately, this feature will also be cancelled and replaced by an annual Virgin Australia voucher for 129 and two annual single-entry Virgin Australia lounge passes. Virgin Money has said that the benefit will be introduced from mid-2016, but there’s no specific date yet on when you can expect to receive your passes. If you’re interested in the latest flight offers you can keep up to date here.

No BPAY Points

Cardholders will no longer be able to earn Velocity Points on BPAY payments made with either of the Velocity credit cards. So if you use your Virgin Australia card for online shopping, you could be shortchanged on rewards if you use BPAY.

While these cuts could be a major blow for Velocity Frequent Flyers, there are other ways you can earn Velocity Points with your credit card. There are other co-branded credit cards that let you earn Velocity Frequent Flyer points directly, or you can opt for an indirect credit card that will allow you to transfer your points to your Velocity account. Begin comparing your options to get the most value out of your Frequent Flyer credit card.

Start comparing Velocity Frequent Flyer credit cards 

Sally McMullen

Sally McMullen is a journalist at finder.com.au who is a credit cards and travel money expert by day and music maven by night.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Credit Cards Comparison

Rates last updated June 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $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 Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. 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 2% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au 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.

Ask a question
feedback

Exciting news!

myNBN.info is now part of the finder.com.au family.

Read more about what this means

Win $200!

Tell us about your health insurance and you could win.

Take our quick survey