Virgin Money credit cards (linked to Velocity rewards)

[DeKa]

Who knows. If they don't call me tomorrow I guess I'll cancel in writing.

What is the value to Virgin Money for someone holding a card fee free that they don't use?

It took them a few days to catch me when they called me back, but I ended up getting offered 5k points, a year fee free and a 0% 12 month balance transfer. I kept the card...

 

[JohnK]

It took them a few days to catch me when they called me back, but I ended up getting offered 5k points, a year fee free and a 0% 12 month balance transfer. I kept the card...

That's interesting. Can't work out the inconsistency.

 

[smit0847]

It took them a few days to catch me when they called me back, but I ended up getting offered 5k points, a year fee free and a 0% 12 month balance transfer. I kept the card...

Ive been offered similar with this card in the past.

 

[robd]

I rang to cancel this card today. Like DeKa, I was offered fee free for the next year, 5,000 pts and 0% balance transfer for 15 months. I'll hang on to it (damn it).

 

[JohnK]

Received an email offering 0% balance transfer for 6 months.

They are smart. Annual fee due December. Took up balance transfer today. Won't be cancelling card now.

 

[Sojourner]

I rang to cancel this card today. Like DeKa, I was offered fee free for the next year, 5,000 pts and 0% balance transfer for 15 months. I'll hang on to it (damn it).

Same experience here. I actually forgot I even had this card and was charged the annual fee last month. Rang up to see if I could get it reversed and cancelled, and then offered 5k in points and the fee reversal as well. I also provided feedback on how their limits to the reduced flight offer to only saver fares along with 30 day advance booking requirement made it almost impossible for me to use now.

I think they must be bleeding customers given so many other programs are offering huge sign on bonuses and their enhancement of their own rewards program.

 

[Colin 2905]

I received a letter and leaflet in the mail from Virgin Money today, advising of some "enhancements" to take effect from the 1st of April, 2016. Main points.....

• The points earn rate with the Flyer card is to drop from 1 ppd to 0.66 ppd for the first $1500, then 0.5 ppd thereafter. ("Eligible Transactions" with Virgin Australia will still earn 1 ppd.)
• The points earn rate with the High Flyer card is to drop from 1.25 ppd to 1 ppd for the first $10,000, then 0.5 ppd thereafter. ("Eligible Transactions" with Virgin Australia will earn 3 ppd.)
• The "TWO41" deal is to be scrapped, and they'll be replacing it with a $129 Virgin Australia gift voucher some time from mid next year. Those with the High Flyer card will also get a couple of lounge passes.

More details on their web site.

 

[bcworld]

Sounds diabolical!

TWO41 still works for me from a value point of view but if changes are as above this card is a gonner for sure!

 

[Colin 2905]

but if changes are as above

Yep, they are. See Velocity Points | Frequent Flyer Points | Virgin Money - "Changes to our credit card earn rates" and Reduced Price Flights - Velocity Benefits

BPAY transactions won't earn points either, and they're also broadening what constitutes an "International Transaction" so they can charge the 3.3% fee on it (most banks have already done this).

My annual fee is due in April, so I was intending to call them with a view to cancelling my Flyer card anyway. For me to bother keeping it after 1/4/16, they'd need to waive the annual fee and give me a $129 Virgin Australia gift voucher, but I can't see that happening.

 

[quokka77]

The enhancements continue

 

[Colin 2905]

The enhancements continue

In one of the Citibank threads, someone mentioned that they expected something similar to happen with the Virgin cards, given that they are issued by Citibank. I was half expecting it, too.

FWIW, whilst the letter is dated the 14th of December (ie; two days ago), there's a code (or something) on the brochure that says, "MCG15843_(1115)". The cynic in me says that "1115" = November 2015*, and these "enhancements" were developed at the same time as the "enhancements" to the Citibank Signature, etc.

[SUB]* I just dug out my Virgin Flyer folder, and sure enough, all the brochures have a code in the same format, and (MMYY) fits.[/SUB]

 

[mark4217]

One would have thought the high flyer card would have no cap considering it's sort of a premium card. No real reason to hold this one now. I particularly hate the 10k or 20k cap then half points.

 

[Mogul]

I received a letter and leaflet in the mail from Virgin Money today, advising of some "enhancements" to take effect from the 1st of April, 2016. Main points.....

• The points earn rate with the Flyer card is to drop from 1 ppd to 0.66 ppd for the first $1500, then 0.5 ppd thereafter. ("Eligible Transactions" with Virgin Australia will still earn 1 ppd.)
• The points earn rate with the High Flyer card is to drop from 1.25 ppd to 1 ppd for the first $10,000, then 0.5 ppd thereafter. ("Eligible Transactions" with Virgin Australia will earn 3 ppd.)
• The "TWO41" deal is to be scrapped, and they'll be replacing it with a $129 Virgin Australia gift voucher some time from mid next year. Those with the High Flyer card will also get a couple of lounge passes.

More details on their web site.

Time to find another card, but it is near impossible finding a good Velocity card.

I put around $70K a month through my High Flyer, but not after March next year $10k a month it will be if I decide to keep the card at all.

 

[kamchatsky]

Time to find another card, but it is near impossible finding a good Velocity card.

I put around $70K a month through my High Flyer, but not after March next year $10k a month it will be if I decide to keep the card at all.

Right now the best Velocity card that is not Amex is the ANZ Rewards Black card (1:1 on Visa). Not sure if it will also get devalued though.

 

[daveozsydney]

Right now the best Velocity card that is not Amex is the ANZ Rewards Black card (1:1 on Visa). Not sure if it will also get devalued though.

or citi prestige which is currently 1.33 but 1 after devaluation. ANZ Rewards Black is pre-devaluation earn rate... so expect it to drop by about 30% too

 

[Pele]

Gday

I have had the High Flyer for years and it was a solid earner off the bench if Amex wasnt accepted. The loss of the 2 for 1 flights is a big blow too.

Is there any visa or mastercard still out there with greater than 1 point per dollar spent?

Thanks.

Pele.

 

[bcworld]

Virgin Credit Cards | Virgin Money
Why is the Exclusive Reduced Flights Benefit ending?

Virgin Money has listened to customer feedback and is improving the overall value and useability of the flight benefit offered, by introducing an annual $129 Virgin Australia Gift Voucher. This makes the flight benefit more accessible for our customers.

 

[smit0847]

Virgin Credit Cards | Virgin Money
Why is the Exclusive Reduced Flights Benefit ending?

Gosh those Woolworths Rewards executives found new jobs quickly!

 

[travelislife]

What a joke. 0.66 points per dollar spend! Ridiculous, I need to find a new velocity Visa/Mastercard as the AMEX I have got unfortunately is nearly useless for a lot of my day to day spend.

Also the removal of the '2 for 1' or exclusive flight benefit is a major loss for me. I actually have found it reasonably useful and have been using all of our 8 allotted sectors across my wife and I. What a bugger.

 

[andye]

Mrs andye has just picked up this card largely because of the long 0% balance transfer offer.
I know the two4one is finishing soon but hope to take advantage before 31 March. Can you use gift vouchers to part pay for the flights?
Do you still have to pay the booking surcharge if using the Flyer card?