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Virgin Money High Flyer Credit Card - Earn up to 120,000 Bonus Velocity Points over 3 Month - Spend $9000 within 90days $289 Fee

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Virgin Money High Flyer Credit Card - Earn up to 120,000 Bonus Velocity Points over 3 Month - Spend $9000 within 90days $289 Fee
Go to Deal
CDG on 02/08/2017 - 11:44 virginmoney.com.au (1352 clicks)
Last edited 04/11/2017 - 12:31 by 2 other users

Earn up to 120,000 bonus Velocity Points22
Receive 40,000 velocity points for each month you spend $3,000 on eligible transactions in the first 3 months.

Receive a $129 Virgin Australia Gift Voucher17 and two single entry Virgin Australia domestic lounge passes33 , each year
To unlock the $129 Virgin Australia Gift Voucher, simply make an eligible transaction in the 2 months prior to requesting your voucher. Valid for 6 months from voucher issue date.

Two Single Entry Virgin Australia domestic Lounge passes will appear in your Velocity account each year and are valid until your next card anniversary.

PS: Sorry Guys, I thought is $3000 3 months, after the discussion below, it looks like is $3000 each month spend for 3month, which is $9k!!!!! ( made it a hard deal…)

Referral Links

Referral: random (305)

Referees will receive 5,000 Virgin Money Points when they open their first Virgin Money Go Account before 31 July 2024 and meet the Welcome Offer Bonus Points Criteria (1 debit card purchase/direct debits/BPAY transaction in the first 30 days).

Referrer will receive 5,000 Virgin Money Points for each referee who meets the Welcome Offer Bonus Points Criteria, for up to 5 referees in a month.

Financial Credit Card

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closed Comments

  • Turd on 02/08/2017 - 11:46
    +1

    Minimum income of $75,000

    lame..

    • Zaenille on 02/08/2017 - 11:56
      +2

      Also need to spend $9000 to get full 120k points. Way too steep. I am struggling to spend $2.5k even for 3 months on my last credit card. Ended up having to pay utilities for up to a year in advance. Haha.

      • nightelves on 02/08/2017 - 11:58
        +3

        Lol…Fully refundable business class flights booked in a year

        • [Deactivated] on 02/08/2017 - 11:59

          That's actually a really novel idea, but have to be careful with the interest. What happens if the payment is refunded after you get the points?

        • Zaenille on 02/08/2017 - 12:07

          Can you point me to a fully refundable business class flight? I checked a few some time ago and some of them kept a few % up to a maximum amount, or some only give you credits to book another flight with.

        • PeteM on 02/08/2017 - 12:26
          +1

          Or refundable hotel bookings that require upfront payment.

        • nightelves on 02/08/2017 - 12:36
          +1

          @Zaenille:

          Sure for any domestic business class fare on the Qantas website and under their T&Cs it's says fully refundable.

        • Zaenille on 02/08/2017 - 14:49

          @nightelves: Oh wow, thanks. I was looking at international flights and those seem to be not fully refundable. Thanks for this info.

    • chubbychicken on 02/08/2017 - 12:09
      +1

      Minimum credit limit of $15,000

      lame…

  • nightelves on 02/08/2017 - 11:49

    Wow! Definitely signing up for this for sure.

  • [Deactivated] on 02/08/2017 - 11:49

    Yes there is 20% over & above what you'd see from most premium card deals with a 100k signup bonus, but the spending requirement is pretty high, and the travel offer is quite low ($129 voucher vs return domestic airfare - I just claimed BNE-DRW return ~$450 value), which more than offsets the $200 value of the the extra 20k points…it's OK, but I've definitely seen better deals.

  • socheap on 02/08/2017 - 11:59
    +3

    $9k spend, pass

    • nightelves on 02/08/2017 - 12:06
      +2

      Challenge accepted

  • setsuna on 02/08/2017 - 11:59
    +1

    Title should say spend $9000 not $3000 then?

    • [Deactivated] on 02/08/2017 - 12:06
      +3

      or 3000/month for 90days

  • DaHuntz on 02/08/2017 - 12:12

    40,000 bonus Velocity Points will be awarded for every month $3,000 or more is spent on Eligible Transactions for 3 months from card approval.

    so $3,000 per month x 3? that's a lot of money for 3 months spending lol

    • JohnHowardsEyebrows on 02/08/2017 - 12:28

      Unless you can put your rent onto it. Then it becomes eminently possible.

      • DaHuntz on 02/08/2017 - 12:34

        Unfortunately Landlord only accept EFT :(

        • JohnHowardsEyebrows on 02/08/2017 - 12:43

          Yeah, have to be renting through an agency.

        • droodle on 02/08/2017 - 12:54

          is EFT different to DEFT ?

          If so is DEFT valid

        • DaHuntz on 02/08/2017 - 13:54

          @JohnHowardsEyebrows: i actually pay through the real estate agent but it's a small family owned one, doubt they have facilities to accommodate credit card payments :(

        • DaHuntz on 02/08/2017 - 13:55

          @droodle: EFT: Electronic funds transfer, not sure if they're the same though

    • nalgene on 02/08/2017 - 14:17
      +1

      Note on eligible transactions below:

      Eligible Transaction means any purchase excluding (but not limited to) Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, bank fees and charges such as interest and ATM charges and government related transactions. Government related transactions include transactions with government or semi-government entities, or relating to services provided by or in connection with government (for example but not limited to transactions made at Australia Post, payments to the Australian Taxation Office, council rates, motor registries, tolls, parking stations and meters, fares on public transport, fines and court related costs).

      • JohnHowardsEyebrows on 02/08/2017 - 14:21

        Since when is VicRoads excluded from points earn? Obscene.

      • MrTweek on 02/08/2017 - 15:37

        Wat? Can't even top up my myki?
        Very lame…

        • JohnHowardsEyebrows on 02/08/2017 - 19:10
          +1

          Of course 7-Eleven top ups wouldn't be able to be tracked.

      • nightelves on 02/08/2017 - 19:07

        I'm surprise they haven't included gambling. There's one way to meet the spend.

  • keepa on 02/08/2017 - 12:16
    +3

    Make hotel bookings with free cancellation up to 12 months in advance.
    Pay for parents / siblings / friends bills, rates, shopping, rego, insurance etc. in exchange for cash.

    • nightelves on 02/08/2017 - 12:38

      Yeap that's the best way to do it

    • cheaponos on 02/08/2017 - 12:54

      With the hotel booking scenario, would the credit card company check for refunds/reversals?

      • keepa on 02/08/2017 - 12:58

        Generally you forefeit the points for that purchase when the refund is processed. I would only cancel after the points have posted.

        You can try to ask for the refund to be processed on another card by the booking agent, not sure if this would work as I've never done it this way.

        • MrTweek on 02/08/2017 - 15:45
          -1

          Most booking agents will refuse to do that, unless the refund fails because the card is cancelled.

          Otherwise you'd have a perfect loophole:

          • Spend 10k or something on refundable airfares/hotels/goods and refund on a different (ideally debit) card straight away
          • Use refunded money to pay back your credit card.
          • Zero cost, plenty of points.
          • Repeat once per day.
          • 300 000 points for free every month.

          So yeah, they will try everything to prevent you from doing that. Even most in-store transactions can only get refunded on the same card you paid them with.

        • JohnHowardsEyebrows on 02/08/2017 - 16:09

          @MrTweek: Which means you have to effectively loan that money to the airline until you receive the points. Cancel the card, refund the flights, then ask for the credit to be made back into your bank account.

    • cynicor on 02/08/2017 - 13:05

      Most hotels that allow free cancellations don't charge you until checkout.

    • JeCCo on 02/08/2017 - 15:21

      In the same vein, you can make full fare airline bookings in J or F via your travel agent and refund at a later date or keep as future credit if you have spare cash flow.

  • [Deactivated] on 02/08/2017 - 12:26
    +1

    Great find for premium applicants :)

    As an interesting point to note, if you take a Virgin Money home loan the annual fee for the High Flyer card is halved. You also earn points on your outstanding home balance.

    We have a lot of clients with Virgin Money home loans (issued by BOQ) and overall the feedback has been excellent. So for people who meet the minimum requirements of this offer there could well be some traction in examining whether it is worth taking this offer and also switching into one of their home loans (their headline rates start at 3.69%p.a.).

    • nightelves on 02/08/2017 - 12:39

      Whats the comparison rate?

      • [Deactivated] on 02/08/2017 - 12:55
        +1

        Whats the comparison rate?

        3.83%p.a. for the variable (other comparison rates apply to fixed loans). Bear in mind, however, that publicly quoted comparison rates are based upon $150,000 loan size over 25 years.

        If you wanted to calculate your individual comparison rate a tool like this one would come in handy NB: Naritas provides $1000 cashback to cover switching costs. So in our experience most borrowers have individual comparison rates that are nearly indistinguishable from the headline rates.

        It's probably worth mentioning (despite others alluding to this already), that Virgin High Flyer offers are targeted to premium applicants vis a vis large monthly spends and high incomes (it says $75,000 minimum, however, in our experience the average applicant has nearly double this size of annual income). Similarly their home loan offers for such applicants are best suited to people borrowing $1mil+ (which may sound like a lot, but bear in mind that the average loan size for Sydney and Melbourne is ~$500K these days).

        PS If you wanted some further detail please feel free to send us a PM (we'd post a link here but it is against rep policy).

        Hope this helps.

  • glassyan on 02/08/2017 - 12:34
    +1

    Nice deal, anyone know how hard it is to get a credit card approved through them?

  • tajid on 02/08/2017 - 12:44

    Any exclusions if recently held Virgin card in the last 12-18 months?

  • JeCCo on 02/08/2017 - 15:18

    The 9k minimum spend shouldn't really be a barrier. Plenty of manufactured spending opportunities in Australia.. Have a look on google for ideas

    • dtox on 03/08/2017 - 00:01

      Interested to hear some of these MS options. Feel free to PM if you'd rather not post here

      • tajid on 03/08/2017 - 13:42

        me too please :)

    • ely on 06/08/2017 - 13:55

      Not quite manufactured, as you'll have to pay them eventually anyway, but

      a) gift cards (Woolies, Coles, wherever you shop - cashrewards for 5% off the Woolies ones)
      b) bring forward other bills, e.g. prepay phone, power, gas, internet etc

      If you have a $75k income (minimum for the card) then paying these off is easy and it doesn't require that you actually spend any more - just that you spend it a bit earlier than you otherwise would have.

  • Ufens on 04/08/2017 - 17:37
    +2

    Instead of the High Flyer, the Flyer has a great offer at the moment. 60,000 Velocity points (20,000 per month you spend $1,500) and $129 flight voucher for annual fee of only $64. https://virginmoney.com.au/credit-card/apply-now?oc=OWE8MYDM

    • illumination on 08/08/2017 - 17:00
      +1

      Annual fee $289 vs $64
      $245 for an extra 60k Velocity Points… hmmm that's a tough one but generally should be considered worth it.

      • JohnHowardsEyebrows on 08/08/2017 - 17:21

        It's more the risk that you fall short of the hurdles.

      • ilubbargains on 08/08/2017 - 17:37

        Agreed. Velocity points are harder to come by compared to qantas.

  • starburstyellow on 06/08/2017 - 00:04

    Going to get this card in October. Just applied for Westpac Black 2 months ago. Dont want a big hit on the report. Wonder whats the maximum any1 can apply for a card a year. This year for me is 3 atm.

    • JohnHowardsEyebrows on 06/08/2017 - 00:31

      I've already had 5 approvals the past two months. :p

      • starburstyellow on 06/08/2017 - 00:53

        Oh my! did you check your score before each and everyone? Whats were the cards and when? mines currently:

        Explorer (nov16) , Car loan (May17) , Westpac (Jun17)

        • starburstyellow on 13/10/2017 - 09:41

          Applied for this card last week and is approved. Now for the spend!

    • ely on 06/08/2017 - 14:06
      +1

      Banking and mortgage broker colleagues have indicated that you'll probably be fine with a new application every three months. Still depends on exactly what you're applying for though, may get tricky for a mortgage with some lenders later on (but most will still be fine).

  • CDG on 06/08/2017 - 08:34

    i applied 5 this year too..

  • ely on 06/08/2017 - 13:59

    I already have this card, but there doesn't seem to be anything in the T&Cs that prevents me from cancelling and applying again. Current card holders are blocked, but once I cancel I won't be a current holder any more… Anyone see something I'm missing? Definitely worth it for 120k points (business class return to Thailand from Melbourne is 130k). Already used by $129 voucher this year, renewal is not far away, so time to cancel soon anyway.

  • BargainBenno on 09/08/2017 - 07:29

    Excluding all government payments such as council rates is steep. We spend $200 a week at Coles so a year if Coles groceries will cover the 9k but then you have to factor in the holding cost as opposed to having the money in your home loan.

  • Gooddeal21 on 01/09/2017 - 09:26

    $9000 seems like a lot to spend ! paying childcare won't be enough. and it's not a free card so not too sure if it's a great deal on the end

  • Uppers on 15/10/2017 - 15:53

    Anyone know if you have cancelled a card with them about 12 months ago would you still get points?

    • BigSalad on 16/11/2017 - 22:47

      I cancelled my last virgin money card (velocity flyer) in March, and still received the points over the last 3 months

  • ilubbargains on 08/11/2017 - 16:04

    Has anyone received their first lot of 40k velocity points?

    • Meconium on 09/11/2017 - 14:00

      Haven't even got my card yet, applied two weeks ago

  • BigSalad on 16/11/2017 - 22:45

    Received 80,000 of my points for 2 months, fell painstakingly short on the middle month because of "ineligible" spend - so I called and asked them if i could still get the points, they put in a request, and the next day my points were approved!! So now have all 120K!

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