Velocity frequent flyer credit cards. The options, fees and points

If you frequently travel with Virgin Australia, domestically or internationally then you’re no doubt familiar with their Velocity frequent flyer program.

A great way to be rewarded for loyalty while flying, this program sees you earn points towards future travel each time you fly with Virgin.

If you’re not accruing points as quickly as you would like or you’d like to boost your balance for an upcoming trip, opting to use a frequent flyer credit card can be beneficial.

In this guide, we’ll take a look at the top Velocity frequent flyer credit cards, their benefits, how they work and what to keep in mind before deciding if this is right for you.

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What’s a frequent flyer credit card and how does it work for Velocity

Not only an option with Virgin Australia, several banks and financial institutions offer credit cards with airline frequent flyer points benefits attached.

These cards work by rewarding you with frequent flyer points per eligible dollar spent on the card. These can then be redeemed for flights or other rewards with the applicable airline.

Points earning is usually tiered with some purchases attracting a higher points ratio than others. Many of these cards also offer the potential to earn bonus points with approved partners or by meeting minimum spend limits each statement period.

In addition to boosted points, most of these frequent flyer credit cards will also offer extras such as lounge access, insurance, status credits with the airline, flight upgrades, travel vouchers annually or similar.

Earning options for Velocity

For Virgin Australia’s Velocity program, there are typically two options with regard to points accrual via credit card:

1. A credit card that rewards you with Velocity points based on your eligible spend.
2. A credit card that accrues reward points that can be transferred to Velocity at an agreed redemption ratio when initiated by you.

In this guide, we will be focusing on the dedicated options for Velocity linked credit cards.

Top Velocity frequent flyer supported credit cards

There are several options available for Velocity credit cards. Below are 7 of the top options as listed by Virgin Australia.¹

• Virgin Australia Velocity High Flyer Card (backed by Virgin Money)
• Virgin Australia Velocity Flyer Card (backed by Virgin Money)
• Westpac Altitude Black Credit Card with Velocity Points
• Westpac Altitude Platinum Credit Card with Velocity Points
• American Express Velocity Platinum Card
• American Express Velocity Business Card
• American Express Velocity Escape Card

What are the benefits of a Velocity frequent flyer credit card

Arguably the biggest benefit and the reason most Velocity members apply for one of these credit cards is the points earning potential.

Points

While each of these cards will vary in the way they allow you to earn points and each card will offer a different earning rate, you can expect to earn anywhere from 0.5 Velocity points per $1 spent up to 2.25 points per $1 spent.

Differences in bonus points offered, what is considered eligible spend, monthly or yearly points caps and more will also apply so consider this carefully based on how you plan to use the card.

Extras

There are several additional benefits to holding a Velocity frequent flyer card, depending on which card you opt for, you may enjoy¹:

• A sign up bonus points offer of between 60,000 and 100,000 Velocity points
• A complimentary domestic return flight with Virgin Australia annually
• Upgrade vouchers for domestic travel once per year
• Complimentary domestic and international insurance
• Boosted status credits with Velocity
• Domestic Virgin lounge access
• Virgin gift voucher annually

How to get a Velocity frequent flyer credit card

Using Virgin Australia’s own Virgin Money backed card the Velocity High Flyer Card as an example, we’ve outlined the process of how to get one of these cards if desired.²

Eligibility criteria

Before applying, it is essential to check that you meet the eligibility criteria outlined by the card provider.

For Virgin Money, you must be:

• Aged 18 years or over
• An Australian citizen or resident
• Earn over $75,000 annually
• Able to manage a minimum credit limit of $15,0000
• Able to prove a good credit history

Making an application

1. Applications are made online via Virgin Money so head to their website to get started – they estimate applications to take around 10 minutes.
2. You’ll need to have a few documents at hand such as;

• Identification and personal details
• Income and living expense details
• Information regarding any existing credit balances or loans you have
• Your Velocity frequent flyer number (if you have one)

1. Once completed, submit your application online and await approval.

Timelines for this are not published online, should you have queries about this, we suggest contacting the Virgin Money customer care team for details.

Once you receive your card, you can start spending and earning points immediately.

How to use your Velocity points and rewards

The Velocity frequent flyer program allows you to spend your points and access rewards in a variety of ways.

Once logged into your member account online, you can elect to redeem your points towards a flight within their network or at their rewards store.³

Simply navigate to your chosen reward in their store or their flight booking page and follow the prompts on how to redeem.

Through their online store, points can be used towards gift cards with major stores, other travel arrangements, to purchase electronics, homewares, entertainment and even charitable donations.

For flights, where you do not have enough points or there is no redemption flight available you can elect to do a points plus pay option.

How many points are needed for a free flight

Velocity points can be redeemed on reward seats on flights across the Virgin Australia Network with options starting at 6,200 points.⁴

Redemption seats may also be used towards flights with selected international airline partners.

The exact amount of points required for your chosen flights will vary based on the route and destination in question. As rewards seats are limited and subject to availability, Virgin recommends booking early.

Other supported credit cards that can be linked to Velocity

In addition to the cards listed at the start of this article, there are some other dedicated credit cards that can be used to boost your Velocity points balance.

These are¹:

• Bank of Queensland (BOQ) Specialist Signature Card
• BOQ Specialist Platinum Card

What if I already have reward points on another credit card?

Outside of these, as previously mentioned, many credit card reward programs will permit you to transfer your points to an airline program of your choice including Velocity.

While accrual and redemption rates for these cards may be less favourable than a dedicated frequent flyer product, it may be worth checking with the provider of any current reward credit cards you hold to see if this is an option.

Banks and financial institutions that allow points transfers from non-frequent flyer reward credit cards to Velocity currently include⁵:

• American Express
• ANZ
• CommBank
• NAB
• Westpac
• Citi Bank
• St. George
• Bank Of Melbourne
• HSBC
• Suncorp
• Diners Club and others

What to keep in mind

The credit cards mentioned in this article may not be suited to your needs. Before pursuing a Velocity frequent flyer credit card we suggest considering the following.

• Do any annual fees or membership costs outweigh the potential cost savings of accruing additional points and redeeming them?
• Not all flights and all routes will offer redemption flights or may limit the available number of these making it harder to use your points balance
• Some cards apply points earning caps per statement period so it is worthwhile assessing this against your spend habits before committing to a particular card product
• Not all purchases made using the card are eligible for points accrual so be sure to read the fine print regarding this
• If transferring points from an existing reward card, be mindful of the transfer ratios and ensure this is the best value option

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Sources:

1. Virgin Australia – Card Comparison
2. Virgin Money – How To Apply
3. Velocity Frequent Flyer – Using Your Points
4. Velocity Frequent Flyer – Reward Seats
5. Velocity Frequent Flyer – Card Partners

Sources checked on: 01 December 2023