Virgin Money Credit Cards

Virgin money

Virgin Money is a provider of credit cards, home loans, car insurance, home insurance, life insurance, travel insurance, savings accounts, and superannuation funds.

What credit cards does Virgin Money offer?

Virgin Money currently offers four credit card products:

  1. Virgin Australia Velocity Flyer Card
  2. Virgin Australia Velocity High Flyer Card
  3. No Annual Fee Card
  4. Low Rate Card

We have summarised below some of the key features of these credit cards, according to the information available on Virgin Money’s website at the time of writing. Please note that Canstar does not currently compare Virgin Money credit cards. 

Please note that Velocity Frequent Flyer members can now redeem points for travel on certain domestic flights with Virgin Australia, as well as redeem points for flight upgrades. Velocity points can also be redeemed for certain hotel stays, to book car hire with Europcar and some shopping. Some redemptions are still currently unavailable. Please check with your credit card provider directly for details before making any decision relating to your card or points.

Virgin Australia Velocity Flyer Card

Features

  • Virgin Velocity High Flyer CardCard type: Visa
  • Minimum credit limit: $6,000
  • Minimum income required for eligibility: $35,000 p.a.
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave allows you to make contactless payments for purchases under $100. Through Samsung Pay, you can also tap and pay for purchases under $100 using a compatible Samsung device. 
  • Online management: Card can be managed through online banking and the Virgin Money mobile app. 
  • Security: Card is protected by Fraudshield and Visa’s Zero Liability Policy against unauthorised transactions.
  • Rewards program: Earn Velocity Points for money spent using the card. Cardholders also receive a Virgin Australia gift voucher each year, a personal concierge service and access to Visa Platinum Benefits such as pre-sales to concerts and sporting events.
  • Insurance: Receive Guaranteed Pricing Scheme and Transit Accident Insurance cover. Terms and conditions apply.

Compare Rewards Credit Cards

Virgin Australia Velocity High Flyer Card

Virgin Velocity Flyer

Features

  • Card type: Visa
  • Minimum credit limit: $15,000
  • Minimum income required for eligibility: $75,000 p.a.
  • Interest-free period: Up to 44 days
  • Contactless payments: Visa payWave allows you to make contactless payments for purchases under $100. Through Samsung Pay, you can also tap and pay for purchases under $100 using a compatible Samsung device. 
  • Online management: Card can be managed through online banking and the Virgin Money mobile app. 
  • Security: Card is protected by Fraudshield and Visa’s Zero Liability Policy against unauthorised transactions.
  • Rewards program: Earn Velocity Points for money spent using the card. Cardholders also receive a Virgin Australia gift voucher each year, a personal concierge service and access to Visa Signature Benefits such as discounts on hotels and resorts. 
  • Insurance: Receive international travel insurance, extended warranty insurance, purchase cover insurance and more.

Compare Rewards Credit Cards

No Annual Fee Card

Features

  • No Annual Fee Credit CardCard type: Visa
  • Minimum credit limit: $2,000
  • Minimum income required for eligibility: $25,000 p.a.
  • Annual fee: $0
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave allows you to make contactless payments for purchases under $100. Through Samsung Pay, you can also tap and pay for purchases under $100 using a compatible Samsung device. 
  • Online management:  Card can be managed through online banking and the Virgin Money mobile app. 
  • Security: Card protected by Fraudshield and Visa’s Zero Liability Policy against unauthorised transactions.

Compare Low Fee Credit Cards

Low Rate Card

Features

  • Virgin low rate cardCard type: Visa
  • Minimum credit limit: $6,000
  • Minimum income required for eligibility: $35,000 p.a.
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave allows you to make contactless payments for purchases under $100. Through Samsung Pay, you can also tap and pay for purchases under $100 using a compatible Samsung device. 
  • Online management: Card can be managed through online banking and the Virgin Money mobile app. 
  • Security: Card protected by Fraudshield and Visa’s Zero Liability Policy against unauthorised transactions.

 Compare Low Rate Credit Cards

Virgin Money Credit Card FAQs

To apply for any of the Virgin Money Credit Card products, you must be able to satisfy the following criteria:

  • Be at least 18 years of age
  • Be a permanent resident of Australia
  • Have a good credit rating
  • Earn the minimum income specified for the chosen card

First, check whether you are eligible to apply for a Virgin Money credit card. See above for the eligibility requirements.

If you meet the eligibility requirements, you can apply online or over the phone. Virgin Money says it will take about 10 minutes to apply online. 

Virgin Money says you will need to have the following details handy:

  • Your income and living expense details
  • The credit limit (or outstanding balance) of any credit cards or loans you have
  • The card or account number/s of any credit card balances that you want to transfer

You will have to activate the credit card when it arrives before you are able to use it. Once you’ve set up a Virgin Money Online Account, Virgin Money says you can activate your card by going to your online profile.

You can manage your Virgin Money credit card through online banking or via the Virgin Money mobile app. Use online banking to do things like view your recent transaction history, view your balance, and more.

You will need to register for Virgin Money Online when visiting the online banking website for the first time.

When interest is charged

Interest is charged when you carry a balance on your Virgin Money credit card. Interest is charged on cash advances from the date of withdrawal and on balance transfers from the date of transfer. Fees and charges may apply, visit the Virgin Money website for more details.

When interest is not charged

Up to 55 interest-free days apply to Virgin Money credit card purchases, depending on the credit card product. 

Interest-free days only apply if you have paid the balance in full for the previous month’s statement and for the current month’s statement (the statement on which the purchases are listed).

Your credit limit for a Virgin Money credit card will be determined based on the information you provide in your application, keeping in mind the minimum and maximum credit limits available for each card.

You can request to increase or decrease your credit limit at any time. Virgin Money says an increase will be approved subject to it’s lending criteria and your financial situation. Virgin Money says you can make a request online, by phone or through the mail.

You can close your Virgin Money credit card account at any time by contacting Virgin Money online or over the phone.

Your card balance will need to be repaid in full even after the card is closed. You will continue to receive monthly statements until your card balance is fully repaid.

If you are experiencing financial hardship, contact Virgin Money and you may be able to get help in making repayments.

If you are closing your Virgin Money credit card because you’re not satisfied with it, consider your other options when it comes to credit cards:

Compare Credit Cards

Since landing in Australia in 2000, Virgin have been well-known for their flight services as an airline. Virgin Money was established in 1995 in the UK and subsequently launched in Australia in 2003.

If you’re currently comparing credit cards, the comparison table below displays some of the low interest credit cards currently available on Canstar’s database for Australians looking to spend around $2,000 per month. Please note that this table features links direct to the provider’s website, and is sorted by Star Rating (highest to lowest), followed by provider name (alphabetical). Use Canstar’s credit card comparison selector to view a wider range of credit cards.

Table only displays five products. Click here to see more. Be sure to read the full terms and conditions of each deal before signing up.

Compare Rewards Credit Cards

Written by: TJ Ryan | Last updated: November 5, 2019