expired 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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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…)

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closed Comments

  • +1 vote

    Minimum income of $75,000

    lame..

    • +2 votes

      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.

      • +3 votes

        Lol…Fully refundable business class flights booked in a year

        •  

          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?

        •  

          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.

        • +1 vote

          Or refundable hotel bookings that require upfront payment.

        • +1 vote

          @Zaenille:

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

        •  

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

    • +1 vote

      Minimum credit limit of $15,000

      lame…

  •  

    Wow! Definitely signing up for this for sure.

  •  

    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.

  • +3 votes

    $9k spend, pass

  • +1 vote

    Title should say spend $9000 not $3000 then?

  •  

    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

    •  

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

    • +1 vote

      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).

  • +3 votes

    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.

    •  

      Yeap that's the best way to do it

    •  

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

      •  

        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.

        • -1 vote

          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.

        •  

          @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.

    •  

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

    •  

      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.

  • +1 vote

    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.).

    •  

      Whats the comparison rate?

      • +1 vote

        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.

  • +1 vote

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

  •  

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

  •  

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

    •  

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

    •  

      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.

  • +2 votes

    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

  •  

    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.

    •  

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

    • +1 vote

      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).

  •  

    i applied 5 this year too..

  •  

    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.

  •  

    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.

  •  

    $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

  •  

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

    •  

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

  •  

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

  •  

    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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