Heading explains itself, given the half price annual fee you are already ahead by just claiming the voucher. Bonus point minimum spend is drawn out ($1,500 per month for 3 months to get the 60k) but the monthly threshold itself is achievable for most and if you only get 2 out of 3 months you still get 20k per month that you hit the threshold (so 40k etc.)
It isn't the points deal of the century, but if you are accumulating points most of you wouldn't have applied for a card through Virgin Money before!
Seems like a repeat of this deal from Jan this year -> https://www.ozbargain.com.au/node/354054
Don't forget the fine print…
"60,000 bonus Velocity Points offer is available to new approved Virgin Australia Velocity Flyer Card account holders who apply by 30 June 2018. 20,000 bonus Velocity Points will be awarded for every month $1,500 or more is spent on Eligible Transactions for 3 months from card approval. 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). Full details and definition available here. Credit Card application must be submitted through this page or by calling 13 37 39 and indicating that you would like the Flyer Card 60,000 Velocity Points offer. Points will be credited to the Primary Cardholders Velocity Account up to 60 days after the qualifying purchases. To earn and redeem Velocity Points, there must be an active Velocity Frequent Flyer Membership linked to the Virgin Australia Velocity Flyer Card account. Velocity membership and Points earn and redemption are subject to the member Terms and Conditions, available at velocityfrequentflyer.com, as amended from time to time. This offer can’t be used in conjunction with other Virgin Flyer Card promotions or offers. Offer is not available to existing Virgin Money Credit Card holders (including upgrades)."
So if you're like me where a huge sum of your spend is going towards government payments, etc, then think twice before signing up.