Interest free period

How does the interest free period⁸ work?

You’ll enjoy interest free days on retail purchases when you pay your Interest Free Days Payment from your statement of account by the Payment Due Date. No interest free period is available on Cash Advances or Balance Transfers.

The Interest Free Period is up to 55 days for the Virgin Money Low Rate, Virgin Money No Annual Fee and Virgin Money Anytime Rewards Credit Cards.

The Interest Free Period is up to 44 days for the Virgin Australia Velocity Flyer Credit Card and the Virgin Australia Velocity High Flyer Credit Card.

Calculate minimum monthly repayment

You must pay the Minimum Payment Due by the Payment Due Date each month as advised in your statement.

The Minimum Payment Due is:

I. the greater of:

a.$25, or if the card balance is less than $25, the card balance; or

b.2.00% of the card balance as at the end of the Statement Period (rounded up to the nearest dollar);

II. plus any Monthly Instalment, initial interest charge, Fixed Payment Option fee or related interest on any of them, that is part of a Fixed Payment Option for that month.

Find out how you can make repayments on your credit card{link-button}

Withdraw cash

You can withdraw cash from an ATM / EFTPOS machine using your Virgin Money Credit Card and your ATM PIN.

You can withdraw up to your available cash limit however there is a maximum of $1000 cash per day.

You can also withdraw cash at any Bank@Post Australia Post outlet with your Virgin Credit Card and your ATM PIN and also over the counter at any bank in the world that displays the VISA symbol. You'll also need some photo ID.

It's important to remember that the Standard cash advance fees and charges may apply when withdrawing cash from your Virgin Money Credit Card Account. See the fees and charges that apply to your card.

Pay a bill using Bpay

You can make one-off bill payments with BPAY® through the Virgin Money app or Internet Banking.

Log in and then select Pay & Transfer then 'Pay A bill'.

Please note the following:

• Payments submitted before 6:00pm AEST/AEDT on a business day are usually received in one business day.

• Payments submitted after 6:00pm AEST/AEDT or anytime on a weekend/public holiday are usually received in two business days.

• It’s important to know that not all billers accept bill payments via credit card via BPAY. As a general rule if a biller charges a surcharge for credit card payments, then BPAY is not allowed. You can check if your biller accepts credit card payments via BPAY at bpay.com.au. Find your biller then check what payment methods they accept.

®BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

Transaction Disputes

A transaction dispute occurs when you, or an additional cardholder, questions a transaction charged to your debit or credit card account.

We aim to make the experience as easy for you as possible if you find yourself needing to dispute a transaction, by providing you with detailed information on the steps involved. Visa and MasterCard have set rules and timelines for the dispute process, which can sometimes take up to 180 days to resolve.

Please call us on 13 37 39

Credit card repayments

Options to pay your credit card account.

Direct Debit (Autopay)

Take the hassle out of making your repayments by setting up a Direct Debit.

Via BPAY®

You can use BPAY to make your repayments. Here's what you need:

* BPAY Biller code: 49551

* Customer Reference Number (CRN): This is your Virgin Money Credit Card account number, which you'll find on your statement.

Keep in mind, BPAY payments can usually take up to three business days to process. To avoid late fees or extra charges, check the cut-off and processing times to make sure your payment can be received before the Payment Due date (listed on your statement).

* BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518

At Australia Post

You can make your payments at any Australia Post* office displaying the "Bank@Post™ symbol using cash or EFTPOS and they'll be processed immediately.

Visit the Credit Card Payments page for full details{link-button}

Instalment Plans

Instalment Plans allow you to take advantage of an interest rate lower than the standard rate you currently pay on your credit card account, for a fixed term of your choice.
You select the transactions you’d like to include and your preferred available repayment term.
Instalment plans are an offer and are subject to your eligibility at the time of processing.

For more information on Instalment Plans, or to set one  up, call us at 1300 129 783.

Learn more

Statements

If you’re enrolled for online statements, we’ll send you an email or SMS to let you know when your statement is available. You can view your statement via Virgin Money Internet Banking or VMA app following these steps

1.  Log into your account

2.  Select ‘Profile’

3.  Select ‘Statements and documents’ and follow the prompts.

If you’re enrolled for paper statements, we’ll send your statement in the post. You may be charged a fee for paper statements.

To change how you’re enrolled to receive your statements, please contact us.

Rental Vehicle Excess Insurance in Australia

Available to Virgin High Flyer Credit Cardholders

Rental Vehicle Excess Insurance in Australia is a benefit available to all Virgin High Flyer Credit Cardholders and is available when the entire payment for the vehicle rental was charged to the cardholder’s Virgin High Flyer Credit Card.

This cover begins when the rental vehicle is collected and ends when the rental vehicle is returned to the rental vehicle company or agency, or when the rental vehicle agreement expires.

Rental Vehicle Excess Insurance in Australia is issued by Allianz Global Assistance. This cover is provided automatically to Virgin Flyer Credit Cardholders and Virgin High Flyer Credit Cardholders under a Group Policy issued to National Australia Bank Limited by AGA Assistance Australia Pty Ltd trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited. It's important to know that it's not a comprehensive vehicle insurance policy.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

Rental Vehicle Excess Insurance in Australia – make a claim

Virgin Money High Flyer Cardholders

In the event of a claim, the Virgin High Flyer Credit Cardholder must contact Allianz Global Assistance directly on 1800 072 791. If calling from overseas, a reverse charge call to Australia can be made by calling +61 7 3305 7499. So that you know, the Virgin Money Customer Care Team won't be able to help you if you call them.

For full details please read the Terms and Conditions.

Domestic Travel Insurance

Available to all Virgin High Flyer Credit Cardholders

Interstate Flight Inconvenience⁶ is a benefit available to all Virgin High Flyer Credit Cardholders and is available on interstate travel where the return travel tickets are entirely purchased on the cardholder's Virgin High Flyer Credit Card.

Simply pay for the return interstate flights with your Virgin High Flyer Credit Card and you'll receive Flight Inconvenience Insurance for you, your spouse and any dependent children (provided they are travelling with you and the entire cost of their return interstate flight tickets were also charged to you your Virgin High Flyer credit card account) covering flight delays, missed connections, Loss of or damage to business items/personal items (limits apply to individual items), rental vehicle excess and more.

Flight Inconvenience Insurance is provided automatically to Virgin Australia Velocity High Flyer Credit Cardholders under a Group Policy issued to National Australia Bank Limited by AGA Assistance Australia Pty Ltd, ABN 52 097 227 177, AFSL No 245631 trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited AFSL No. 234708. It's important to know that it's not a comprehensive travel insurance policy.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

Domestic Travel Insurance – make a claim

Virgin High Flyer Credit Cardholders

In the event of a claim, the Virgin High Flyer Credit Cardholder must contact Allianz Global Assistance directly on 1800 072 791. If calling from overseas, a reverse charge call to Australia can be made by calling +61 7 3305 7499. So that you know, the Virgin Money Customer Care Team won't be able to help you if you call them.

For full details please read the Terms and Conditions.

International Travel Insurance

Available to all Virgin High Flyer Credit Cardholders

International Travel Insurance⁶ is a benefit available to all Virgin High Flyer Credit Cardholders and is available on travel outside of Australia where the overseas travel tickets are purchased on the cardholder's Virgin High Flyer Credit Card prior to leaving Australia. Simply pay for your overseas flights with your Virgin High Flyer Credit Card and you'll receive international travel insurance for you, your spouse and any dependent children who are travelling with you for the entire journey and whose overseas travel tickets were also obtained by use of the Virgin High Flyer Credit Card. Cover includes medical expenses for illness or injury, loss or theft of personal items (limits apply to individual items), legal liability and more for up to a period of six consecutive months for cardholders with a return overseas travel ticket (31 days for persons with a one-way overseas travel ticket.

International Travel Insurance is provided automatically to Virgin Australia Velocity High Flyer Credit Cardholders under a Group Policy issued to National Australia Bank Limited by AGA Assistance Australia Pty Ltd, ABN 52 097 227 177, AFSL No 245631 trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited AFSL No. 234708.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

International Travel Insurance - make a claim

Virgin High Flyer Credit Cardholders

In the event of a claim, the Virgin High Flyer Credit Cardholder must contact Allianz Global Assistance directly on
1800 072 791. If calling from overseas, a reverse charge call to Australia can be made by calling +61 7 3305 7499. So that you know, the Virgin Money Customer Care Team won't be able to help you if you call them.

For full details please read the Terms and Conditions.

Guaranteed pricing scheme

Available to Virgin High Flyer cardholders and Virgin Flyer cardholders

Guaranteed pricing scheme⁶ is a benefit available to Virgin High Flyer cardholders and Virgin Flyer cardholders when covered products are purchased by a cardholder anywhere in Australia (excluding internet sales), and the entire cost is charged to the cardholder’s Virgin High Flyer credit card account or Virgin Flyer credit card account.

This scheme guarantees the cardholder gets the best price if, within 60 days of the purchase, they advise us that they have, subsequent to their purchase, received a printed catalogue showing the same covered products for a lower price from a store within 25 kilometres of the store from where the covered products was purchased, and the price difference is greater than AU$75 and up to AU$500.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

Purchase Protection Insurance

Available to Flyer and High Flyer Credit Cardholders

Purchase Protection Insurance⁶ provides you with three months insurance against loss, theft, or accidental damage over a wide range of new covered products purchased anywhere in the world using your Flyer or High Flyer Credit Card.

Purchase Protection Insurance is provided automatically to Virgin Australia Velocity Flyer or High Flyer Credit cardholders under a Group Policy issued to National Australia Bank Limited by AGA Assistance Australia Pty Ltd, ABN 52 097 227 177, AFSL No 245631 trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited AFSL No. 234708.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

Purchase Protection Insurance – make a claim

Flyer and High Flyer Credit Cardholders

In the event of a claim, the Virgin Flyer or High Flyer Credit Cardholder must contact Allianz Global Assistance directly on 1800 072 791. If calling from overseas, a reverse charge call to Australia can be made by calling +61 7 3305 7499. So that you know, the Virgin Money Customer Care Team won't be able to help you if you call them.

For full details please read the Terms and Conditions.

Extended Warranty Insurance

Available to Flyer and High Flyer Credit Cardholders

With Extended Warranty Insurance⁶ you receive up to 12 months extended warranty (in addition to the manufacturer's expressed Australian warranty) on covered products purchased with your Virgin Flyer or High Flyer Credit Card provided the purchase is charged to your Virgin Flyer or High Flyer credit card account.

The insurance does not affect the rights of cardholders against a manufacturer in relation to contravention of statutory or implied warranties under Australia legislation. Only items with a manufacturer's unique identification serial number on them are covered under this insurance.

Extended Warranty Insurance is provided automatically to Virgin Australia Velocity High Flyer Credit Cardholders under a Group Policy issued to National Australia Bank Limited by AGA Assistance Australia Pty Ltd, ABN 52 097 227 177, AFSL No 245631 trading as Allianz Global Assistance on behalf of the insurer, Allianz Australia Insurance Limited AFSL No. 234708.

Terms, conditions, limits and exclusions apply. For full details please read the Terms and Conditions.

Extended Warranty Insurance - make a claim

Flyer and High Flyer Credit Cardholders

In the event of a claim, the Virgin Flyer or High Flyer Credit Cardholder must contact Allianz Global Assistance directly on

1800 072 791. If calling from overseas, a reverse charge call to Australia can be made by calling +61 7 3305 7499. So that you know, the Virgin Money Customer Care Team won't be able to help you if you call them.

For full details please read the Terms and Conditions.

CreditShield Edge & CardAssure Max policy

For claims relating to CreditShield Edge or CardAssure Max, the simplest way to make a claim is online:

• Make a new claim - CardAssure Max
• Make a new claim - CreditSield Edge

For all other claim enquiries:

• Call MetLife on 1300 555 625
• Or you can write to:
  MetLife Claims Department
  GPO Box 3319
  Sydney
  NSW 2001

You’ll receive notification of the status of your claim within 10 working days.

It’s important to know that waiting periods may be applicable to the benefit that you are claiming. Please check your Product Disclosure Statement or contact MetLife on 1300 555 625 for more information.

For more details on an existing CreditShield Edge policy or for a copy of the PDS, please contact our Customer Care team on 13 37 39.

Balance Transfer

Balance Transfer involves transferring the balance(s) of your other credit cards or loans to a Virgin Money Credit Card. The balances transferred will receive a promotional interest rate for a set period of time and can be a great way to save on interest charges.

Once your balance(s) have been transferred, you might consider closing the other credit facilities you transferred balances from, as this would not happen automatically

When considering a Balance Transfer promotion, it’s easy to focus on the low, or zero, interest rate being offered however don’t forget to consider the other features of the card and any applicable terms and conditions of the promotion.

Most credit cards or loans from other financial institutions are eligible to have balances transferred to a Virgin Money Credit Card, provided that the card details match the BPAY reference number details of the financial institution. Where those details do not match, we are unable to process a balance transfer.

We are aware of some financial institutions where card number and BPAY reference number do not match and which as a result are not eligible for a Balance Transfer, including:

- Bendigo Bank

- ING

- Latitude Finance

- Great Southern Bank

- Heritage Bank

- Adelaide Bank

- credit unions

- AMEX cards

Please note, that this is an indicative list only and may change from time-to-time.

How does a Balance Transfer work?

You can request a Balance Transfer as part of your initial application.

When you make the Balance Transfer request, we will ask you for information about the balances you are transferring and it will take up to 10 business days for the funds to be received at the other financial institution.

Once the balance(s) is transferred to your Virgin Money Credit Card, you will be charged interest at the rate offered to you at the time you requested the Balance Transfer, for the length of the promotional period. At the end of the Balance Transfer, any remaining balances (inclusive of a Balance Transfer fee, where applicable) will revert to the Annual Percentage Rate for Cash Advances.

Get the most out of a Balance Transfer

Below are some recommendations on how to get the most out of your Balance Transfer:

• Consider making additional payments (more than the Minimum Payment Due) throughout the promotional period to reduce the amount you owe
• Pay the outstanding balance prior to the end of the Balance Transfer promotional period. Any outstanding balances that were transferred will revert to the Annual Percentage Rate for Cash Advances at the end of the promotional period.

Please note: Balance transfers do not earn Velocity Points.

Balance Transfer Interest

Once a Balance Transfer is processed on your Virgin Money Credit Card, the interest charges will be as follows:

• Balances transferred to your Account will be charged interest at the promotional rate per the Balance Transfer offer and time period you accepted
• At the end of the balance transfer period, the interest rate on any outstanding transferred balance and balance transfer fee will revert to the Annual Percentage Rate for Cash Advances.

For example, if your Balance Transfer rate is 0 % p.a. for 12 months, during that 12 months all additional purchases will be charged interest at the Annual Percentage Rate for Retail Purchases. At the end of the 12 months, any outstanding balances from the Balance Transfer will revert to the Annual Percentage Rate for Cash Advances.

Credit card payments

If I have Balance Transfers at different rates, which one does my credit card payments get applied to first?

Payments will be allocated in the following order:

• Monthly Instalment(s) due in the current Statement Period (if applicable); and then
• to the portion of the Closing Balance of your most recent statement which attracts the highest interest rate; and then
• to the portion of your Closing Balance which attracts the next highest interest rate(and so on); and then
• Balances that have not yet been billed

Balance Transfer fee

Balance Transfer fee can be applicable on some promotional offers. This fee is calculated as a percentage of the total amount being transferred and is added to the Balance Transfer amount.

For example, a Balance Transfer amount of $10,000 with a 2% Balance Transfer Fee, will be charged a Balance Transfer fee of $200 and results in the outstanding balance of your Virgin Money Credit Card to increase by $10,200.

At the end of the Balance Transfer period, the interest rate on any outstanding transferred balance and the Balance Transfer fee will revert to the applicable Annual Percentage Rate for Cash Advances.

Make sure you take this fee into Account when you're working out your repayments as well as how much the Balance Transfer deal will really cost you. Balance Transfer fees will be clearly stated in the offer details so remember to read them carefully as well as the terms and conditions.

Balance transfer limits

On Virgin Money Credit Cards, the minimum amount you can transfer is $500 and your total balance transfer may not exceed 80% of your credit limit the day the Balance Transfer is completed.

Apply for a Balance Transfer

You can apply for a balance transfer during the application process for a new Virgin Money Credit Card.

It's important to know that the credit account balance you want to transfer must be in the name of the Virgin Credit Credit Card primary account holder.

Transfer balance

Balance transfers can take up to 10 business days to process.

You should allow additional time for the funds to be received by the other financial institution however please ensure you continue your payment obligations with the other financial institution whilst the Balance Transfer is being processed. You can monitor your Account via Virgin Money Online to check if the balance transfer has appeared on your Account.

How does Virgin Money Credit Cards manage financial crime and sanctions obligations?

We're committed to protecting our customers by meeting our legal and regulatory requirements in the areas of financial crime and creating a hostile environment for criminal activity.

This includes:

• Implementation of an anti-money-laundering and counter-terrorism financing (AML/CTF) program.
• Education to help our customers understand and protect themselves from the risk of fraud.
• Compliance with international anti-bribery and corruption rules and regulations, including making our Anti-Bribery and Corruption Policy available.
• Implementation of our Sanctions Program.

You can learn more about how we manage our financial crime and sanctions obligations here.

Paying off your Closing Balance

The best way to reduce the amount of credit card interest you pay, is to pay off your Closing Balance or Interest Free Days Payment, if you have an Instalment Plan or Balance Transfer, by the Payment Due Date displayed on your statement.​

The Closing Balance is the total amount outstanding on your credit card account at the end of the Statement Period. ​

The Interest Free Days Payment amount is displayed on your statement if you have a Balance Transfer or Instalment Plan.​

If you want to pay off your entire credit card debt as at the end of the Statement Period, you’ll need to pay the Closing Balance. If you pay this amount by the Payment Due Date, you won't be charged interest on your purchases because purchases have an interest free period.

Pay more than your Minimum Payment Due

Firstly, pay any Overdue amount immediately. ​

If you can't pay the Closing Balance in full each month, consider paying a little more than your Minimum Payment Due instead. ​

By paying a little more than your Minimum Payment Due each month, you can pay off your credit card debt faster and pay less interest. Check out the ASIC Repayment Calculator to see how much you can save by making higher repayments. ​

The thought of paying that little bit extra can be daunting. A budget might help you stay on top of your expenses and even help you work towards paying off your credit card balance in full.

Take advantage of your interest-free period

We offer up to 44 or 55 days, interest free for retail purchase transactions. This does not mean you get 44 interest-free days for every retail purchase transaction. If you’re not already paying retail interest, the ‘up to’ 44 days begins when you make a transaction and ends on your Payment Due Date on the statement the transaction appears on. This is what we mean by 'up to'.​

If you have a balance transfer or instalment plan, you'll need to pay the Interest Free Days Payment shown on your statement by the due date each month, to keep the benefit of an interest free period you may have, or to start an interest free period on any retail purchases.​

If you don’t pay the full Closing Balance, or the Interest Free Day Payment amount if you have a Balance Transfer or Instalment Plan, by your Payment Due Date, you’ll be charged interest from the day after the Payment Due Date. This interest is charged against everything you’ve purchased during the Statement Period, minus any payments you’ve made.

Avoid cash advances, if possible

A standard cash advance is withdrawing cash from your credit card account. Since this isn't considered a purchase, interest-free days don’t apply. This means interest starts to add up from the date you make the withdrawal. ​

Cash advances should be a last resort or in case of an emergency. If you need cash, it’s a way to get it if you’re stuck. But remember, the interest charged for cash is higher than the interest charged on purchases, so try to pay it back as soon as possible. ​

Other cash advance examples include: ​

• cash out from your credit card account at an ATM, or over the counter​
• bills paid with your credit card over the counter at another bank or at a post office (online bill payments are usually okay, but you should check with your biller first)​
• traveller’s cheques or gift cards​
• any remaining transferred balance after a Balance Transfer has expired

Get in touch if you're facing financial difficulty

contact us if you need assistance.​