Virgin Money

Virgin Money Australia is passionate about helping Australians realise bigger possibilities through the delivery of beautifully simple and rewarding financial products, all backed by Virgin’s legendary customer service. They reject the notion of complex financial services. Instead, they aim for clarity and simplicity in everything they do.

Virgin Money credit cards

Compare

Virgin Australia Velocity High Flyer Credit Card

Highlights

Earn up to 80,000 bonus Velocity Points when you spend $3,500 on eligible purchases within 4 months of card approval. Terms and conditions apply.
0% p.a. for 12 months on balance transfers (no balance transfer fee applies). Reverts to cash advance rate of 21.69% p.a.
Get an exclusive $129 Virgin Australia Gift Voucher each year. Terms and Conditions apply.

Pros

Earn up to 80,000 bonus Velocity Points when you meet the criteria.
Earn 1 Velocity Point per $1 spent on eligible transactions up to $8,000 and 0.5 points per $1 on spending thereafter.
Two single entry passes for Virgin Australia domestic lounges every year.
Flight voucher worth $129 each year.
Comes with International Travel Insurance and Extended Warranty Service.
Works with Apple Pay and Samsung Pay.

Cons

The ongoing annual fee of $289 p.a.
Earn rate is tiered, although the base tier is enough for more people.
Only up to 44 interest-free days on purchases.
There's an annual fee per additional card.

Virgin Money Low Rate Credit Card

Highlights

0% p.a. for 15 months on balance transfers with no balance transfer fee. Reverts to the cash advance rate at 21.69% p.a.
Low ongoing purchase rate of 11.99% p.a.
Up to 55 days interest-free on purchases.

Pros

0% p.a. for 15 months on balance transfers.
No balance transfer fee.
Low ongoing interest rate on purchases at 11.99% p.a.
Compatible with Apple Pay and Samsung Pay.

Cons

If you want additional cardholders, it will cost $29 p.a. per cardholder.
Doesn't earn Velocity Points.

Virgin Money No Annual Fee Credit Card

Highlights

$0 annual fee for the life of the card.
Transfer your balance at 0% p.a. for 12 months on balance transfers (reverts to 20.99% p.a.)
0% p.a. for 12 months on purchases (reverts to 18.99% p.a.)

Pros

No annual fee ever.
0% p.a. interest rate for up to 12 months on balance transfers and purchases.
Up to 4 additional cards, also with $0 annual fee.

Cons

The revert interest rates for balance transfers and purchases are relatively high.

Q&As

Isn’t Virgin an airline?

Yes, but Richard Branson is a busy guy who likes to start companies, hence Virgin Money.

In 2008, the five-year agreement came to an end and the Virgin Credit Card was withdrawn from the Australian market, although Virgin Money continued to operate a number of financial services in Australia. In 2010, Virgin relaunched a new selection of credit cards offering a very attractive mixture of no fees, low rates and beneficial reward programs.