Virgin Money Australia - Virgin Australia Velocity Flyer Credit Card
Balance Transfer Offer
The Velocity Flyer credit card (balance transfer offer) has a balance transfer rate of 0% p.a. for 24 months. After this time, the rate reverts to 20.99% p.a.. There are up to 55 days interest-free on any purchases. The first-year annual fee is reduced from $149 to -.
This card earns 0.66 Velocity Points per dollar spent on eligible transactions, up to $1,500 per statement period. Beyond this, 1 points are earned per dollar spent, uncapped. Cardholders get an annual $129 Virgin Australia Gift Voucher.
A balance transfer offer of 0% p.a. for 24 months and earn up to 0.66 Velocity Points per $1 spent on Eligible Transactions.
Annual Fee
$149 per year
Balance Transfer
0% for 24 months reverts to 20.99% p.a.
1% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
1% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
Purchase Rate
20.74% p.a.
Interest Free Period
up to 55 days
Details
Card Type
Visa
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$6,000
Fees
Annual Fee
$149
per year
Late Payment Fee
$30
per statement
Cash Advance Fee
2.70% or $2.70
per transaction, whichever is greater
Additional Card Holder Fee
$39
Additional Card Holder Cap
up to 4
additional holders
Rates
Purchase Rate
20.74% p.a.
Cash Advance Rate
20.99% p.a.
Balance Transfer
Balance Transfer
0% for 24 months
reverts to 20.99% p.a.
1% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
1% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
Balance Transfer Limit
80%
of credit limit
Balance Transfer Fee
1%
per transaction
Transfer Interest Free Days
No
Overseas Spending
Foreign Currency Conversion Fee
3.30%
per transaction
Overseas Cash Advance Fee
3.30%
per transaction
Eligibility
Minimum Age
18
years old
Minimum Income
$35,000
per year
Temporary Residents
No
Joint Application
No
Rewards
Program
Velocity Frequent Flyer
Types
Velocity points, Gift vouchers, Online shopping
Reward Rates
Rewards Rate One
0.66 point(s) per AUD$1
On eligible transactions up to $1,500 per statement
Rewards Rate Two
1 point(s) per AUD$1
On directly spent with Virgin Australia
Perks
Complimentary Travel Insurance
No
Airport Lounge Access
No
Who is the product designed for?
The retail clients for whom this product has been designed are individuals who:
- are seeking a line of credit facility for everyday spending to earn up to 0.66 Velocity Points per dollar on certain purchases and the ability to access complimentary insurances and Product benefits
- are Velocity Frequent Flyer members or are looking to become members
- meet eligibility criteria and serviceability requirements for the Product
- are unlikely to hold substantial balances for prolonged periods except to take advantage of reduced interest rates and/or instalment repayments on a Fixed Payment Option or a Balance Transfer (including holding a Balance Transfer for longer than the period during which a reduced interest rate applies).
Visit Virgin Money Australia to view Target Market Determination Effective From: 2024-03-05.
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