Virgin Credit Cards
The new Virgin credit cards launched in Australia offer card holders plenty of benefits, bonuses and advantages to choose from. Depending on your own credit card requirements, Virgin have an offer that could be ideal for your financial needs.
Best Virgin Credit Card
With the Virgin Flyer Card you will receive special offers such as 2-4-1 flights on selected services, as well as a free one-way `Go` fare on Virgin Blue
- Apply and Make your first purchase before October 15th 2010, and receive Virgin Blue ‘Go’ fare flight for free
- Purchase rate of 20.99% p.a.
- 6.9% p.a. for 6 months on balance transfers
- $99 annual fee
- 20.99% p.a. on purchases
- Up to 44 days interest free
Click here to read the Virgin Flyer Credit Card terms and conditions
Compare the Best Virgin Credit Cards
| Credit Card | Card Details | Interest Rate p.a. | Cash Advance Rate p.a. | Balance Transfer Rate p.a. | Annual Fee | Interest Free Days (Up To) | |
|---|---|---|---|---|---|---|---|
|
No annual fee for the life of the card, plus a reasonable purchase rate and balance transfer offer. |
16.95% | 20.99% | 2.9% for 6 months | $0 | 44 | |
|
This card is unique because it has special frequent flyer offers such as 2-for-1 flights on specific services from Virgin Blue |
20.99% | 20.99% | 6.9% for 6 months | $99 | 44 |
Comparing Virgin Credit Cards
The two new Virgin credit cards have some very different features and benefits to offer card holders. Before you submit your application for your new credit card, take a little time to compare the offers available to ensure you choose the right one for your needs.
Virgin No Annual Fee Credit Card – Benefits and Features
The Virgin No Annual Fee credit card offers customers several ways to save money and begin reducing credit card debt. If you’re struggling with high interest charges and large interest costs on your outstanding credit card debt, the Virgin No Annual Fee credit card could offer you a way to reduce costs and save money.
Low Balance Transfer Interest Rates
Aside from the benefit of never paying an annual fee on your credit card, you’ll also be able to pay a greatly reduced interest rate on your outstanding credit card balance.
Simply transfer your balance from your high interest credit card over to your Virgin No Annual Fee credit card and you’ll pay a low interest rate of 2.9% p.a. for 6 months. This means you’ll be paying far less interest on the amount you owe, which also means the minimum monthly payment due may be reduced on what you’re paying right now.
However, in order to really reap the benefits of this offer, it’s important to be diligent about putting your interest savings back towards reducing your balance amount as quickly as possible. Pay as much as you can afford to pay off your credit card bill each month when it arrives and you’ll soon notice your credit card debt dwindling away much faster than you would have thought possible.
Remember that while you’re repaying any balance amounts you’ve transferred over from other credit cards, it’s important not to use your card to make purchases until it’s completely repaid. Always use your card for its intended purpose and you’ll save money in the long run.
This is because most banks and credit card companies have a payment allocation policy. If you do make a purchase using your credit card and you have an amount outstanding from a balance transfer, your monthly repayments will continue to keep repaying the balance transfer amount, and not the purchase amount. You may find that the purchase rate will be applied to the amount you spent, which could mean losing some of the great benefits available on the balance transfer offer.
Low Purchase Interest Rates
If you still have a balance outstanding at the end of the six month introductory period and the low balance transfer rate expires, the interest rate will revert to the standard purchase rate, which is currently 16.95% on purchases.
This is a very competitive rate for credit card purchase interest rates, so you could still be saving money.
Interest Free Days
If you’ve managed to completely repay your outstanding balance and you’re careful to repay any new balances each month before the due date, you could also benefit from up to 44 days interest free on purchases.
Paying no interest on your purchases and paying no annual fee means you essentially have access to a free credit card.
Security Features
The Virgin No Annual Fee credit card is protected with Fraudshield® that helps to detect any irregular or suspicious transactions on your account. You’re also covered by Visa’s Zero Liability Policy that also offers you a level of protection against fraudulent use of your credit card.
Each credit card is fitted with state of the art secure micro-chip technology and if your card is lost or stolen, you can call for assistance, either online or over the phone at any time, 24/7 to arrange for a quick replacement card right away.
Qualification Criteria
Before you apply for your Virgin No Annual Fee credit card, be sure you meet the simple qualification criteria required for this particular card.
You must be over the age of 18 at the time of application and you should be a permanent Australian resident.
You will also need to verify that you earn more than $20,000 per year to qualify. This can mean providing income verification documents, such as pay slips or tax returns. If you’re self-employed, you may also need to provide your accountant’s details.
Virgin Money will also conduct a credit check to verify your credit history. You will need to have a clean credit history to qualify for this credit card.
Virgin Flyer Credit Card – Benefits and Features
The new Virgin Flyer credit card offers cardholders plenty of travel benefits and rewards.
When you use your Virgin Flyer credit card to pay for any Virgin products or items, you can take advantage of the great 2 for 1 flights offer. Book your seat on a Virgin Blue Flight and invite a friend to fly with you for free. When you buy a Virgin Blue seat, you’ll receive a second seat free up to 4 times a year. Your only cost is the associated credit card booking fees.
Free Flight Offer
If you apply for and use your new Virgin Flyer credit card to make a purchase before October 15th, 2010 you will automatically receive a free flight to selected destinations.
Interest Free Days
If you’re diligent in repaying your outstanding credit card balance each month before the due state shown on your statement, you can receive up to 44 days interest free on your purchases.
Pay for the things you need now and take the rest of the month to pay them off again without incurring any interest charges at all.
Balance Transfer Interest Rate
If you’re paying high interest rates on other credit cards, you could benefit by transferring your balances over to your Virgin Flyer credit card and pay a low 6.9% p.a. for 6 months on the amount you transfer.
This can help you save money on interest charges and make it easier to begin repaying your credit card debt more quickly.
When the introductory low balance transfer interest rate expires after six months, the rate will revert to the standard purchase rate of 20.99%
Annual Fee
The Virgin Flyer credit card charges an annual fee of $99.
Velocity Rewards Points
The first time you use your card, you’ll receive 1000 bonus Velocity points to help get you started. You will also be earning Velocity rewards points every time you make a purchase with your card. You can earn 1 point for each dollar you spend up to a limit of $1,500 each month, and earn 1 point for every $2 spent thereafter.
Your Velocity points can be redeemed for great rewards that include flights with Virgin Blue, Pacific Blue, V Australia and other international partners to more than 400 destinations worldwide.
You can also choose to redeem your points for other items, such as car hire, accommodation, gift cards and much more.
Security Features
Your Virgin Flyer card is equipped with state of the art security features. These include Fraudshield protection to help detect any irregular or suspicious activity on your credit card account.
You’re also protected by Visa Zero Liability Insurance, which covers you in the event of fraudulent use of your credit card.
Other Benefits of the Virgin Flyer Credit Card
Virgin Flyer credit card holders are also offers the optional CreditShield Edge, which can offer you a measure of protection in the event that you can’t meet your minimum monthly credit card payment obligations.
Card holders also receive Travel Accident Insurance to offer an extra level of protection while you’re travelling.
You’re given access to a Concierge and you can contact the Customer Service centre whenever you need to, 24/7, either online or over the phone. This is ideal if you need to report a lost or stolen card, or arrange a replacement card quickly.
Qualifying Criteria
Before you apply for your Virgin Flyer credit card, be sure you meet the minimum qualifying criteria.
You should be over the age of 18 at the time of application and you should also be a permanent resident of Australia.
You will need to verify that you earn more than $50,000 to be eligible for the Virgin Flyer card. Verification in the form of a pay slip or a tax return may be necessary. If you’re self-employed, you will have to give the contact details for your accountant.
Virgin Money will also conduct a credit check on you to verify the status of your credit history. In order to qualify for this credit card, you will need to have a clean credit rating.
Applying Online for a Virgin No Account Fee Credit Card or a Virgin Flyer Credit Card
It’s easy to submit your application for a credit card online. The online application forms are easy to fill out, the website is very secure and your information is completely confidential.
Before you begin your online application for your chosen credit card, be sure you have the relevant information you’ll need close at hand.
You will need the following information:
- Driver’s License Number
- Accurate Income amount
- Employer’s name, address and contact details
- Details of assets and current liabilities
- Monthly repayments you make on other credit cards, loans or debt
- Account details of any balance transfer requests
- Accountant’s contact information (if self-employed)
Keep this information close by before you begin the online application process, as you could find the secure website is timed. If you don’t complete the application within the allotted time available, you could end up logged out and have to begin again from the start.
However, the time period allowed is quite long, so you should have no trouble completing the form.
Be sure you fill in every field available and make sure you’ve spelled everything correctly. If you have nothing to answer or if you don’t have anything to add in a particular field don’t just leave it blank. Enter ‘zero’ or ‘N/A’ if you have no other response.
When you’re done, go ahead and submit your online application. You should receive a conditional approval for your new credit card almost immediately.
Editors Choice: Best Credit Card Deals
| Credit Card | Card Details | Interest Rate p.a. | Cash Advance Rate p.a. | Balance Transfer Rate p.a. | Annual Fee | Interest Free Days (Up To) | |
|---|---|---|---|---|---|---|---|
|
An excellent balance transfer offer of 1.9% p.a. for 12 months and a standard purchase rate of 12.24% |
12.24% | 17.99% | 1.9% for 12 months | $39 | 0 | |
|
Excellent credit card, with a 0% p.a. for 6 months balance transfer offer, and pay $0 for the life of the card |
16.99% | 20.75% | 0% for 6 months | $0 | 55 | |
|
Enjoy 1.9% p.a. for 12 months on balance transfers as well as earn 3 Skywards Miles for every dollar spent, plus all the benefits & privileges of a platinum card. |
20.74% | 20.74% | 1.9% for 12 months | $229 | 55 |