Just came across this Virgin Velocity frequent flyer card when looking for credit card deals.
Offer 3 looks quite good:
* Bonus 20,000 frequent flyer points (10,000 at first spend and 10,000 for spending $5000 within the first 3 months)
* $0 Annual Fee for first year
* $129 Virgin voucher (covers annual fee) every year (this feature begins mid 2016)
* International travel insurance included.
Its a fairly low earning card from a points perspective, but as long as you make one virgin flight a year worth $129 or more its essentially free for life (via gift card worth same as annual fee). Worth it even if just for the insurance.
Bonus points terms:
10,000 bonus Velocity Points offer is provided to new approved Virgin Australia Velocity Flyer Card account holders who apply by 29 February 2016 and make an Eligible Transaction with the card within 3 months of card approval. You will earn an additional 10,000 bonus Velocity Points under this offer if you also spend $5,000 on Eligible Transactions within 3 months of card approval. (Continues - see website)
A bit misleading to say it's $0 annual fee when it's $129 minus $129 voucher.
Also, $5k is a big spend for 3 months for a low earning card…