Virgin Money Flyer and High Flyer points earn reduction

[theevilmuppet]

Fellow cardholders (and those considering this card), best get the bonus that's going now and a few months of the best direct earn Velocity card in the market, as it's about to change for the worse:

Velocity Points | Frequent Flyer Points | Virgin Money

High Flyer cards see the earn rate cut by 20%, whilst the Flyer card sees the earn rate cut by 33%. Of course, the annual fees have not budged.

The fact that bonuses are being offered to new cardholders whilst existing cardholders get nothing but the news of this downgrade is seemingly very reminiscent of Citi's typical treatment of customers.

Unfortunately the actions of the RBA Payment Systems Board have made this inevitable for no benefit to cardholders, merchants or financial institutions.

 

[BRIS_VA_HAWK]

I sent a complaint email overnight and had a response waiting for me when I logged in this morning:

Hi [redacted],



Thanks for taking the time to get in touch



Industry-related changes have forced a review of the benefits we provide, resulting in a reduction to the rate at which customers can earn Velocity Points. Our rewards cards will continue to provide Velocity Points for everyday spend, and the new Points earn rate for all spend with Virgin Australia will be equal or better than the current state.



The decision to make these changes was not easy, but was deemed necessary to ensure we can continue to benefit our customers for the long-term.



Regards Steve

Head of Customer Operations

VIRGIN MONEY AUSTRALIA

Whilst I'm thinking it wasn't the Head of Customer Operations that personally wrote the email, I did respond with a fairly civil email to advise that there was probably a better credit card that offered me better recognition for the amount I spend per annum. It will be interesting to see if they cop a lot of backlash to this decision, and whether they reverse the change.

 

[zainman]

Have they removed points on BPAY?

 

[CJEMNMAC]

Have they removed points on BPAY?

Here is a snip from the new T&C on the website. My bolding

Change to your Financial TableEffective 1 March 2016, your Financial Table isamended as follows:• The International Transaction Fee for VisaTransactions is renamed “International TransactionFee” and is amended to include the words “or anytransaction made with an overseas merchant inAustralian Dollars”. As such, the definition is deletedand replaced with the following definition:InternationalTransactionFeeWe charge you an internationaltransaction fee of 3.3% on the AUDdollar conversion of any transactionmade in foreign currency; or anytransaction made with an overseasmerchant in Australian Dollars, ofwhich a 1% service and assessmentfee is payable by Us to Visa.Changes to your Rewards Program for High Flyerand Flyer Cardholders Terms and ConditionsEffective 1 April 2016, the terms and conditions areamended as follows:• BPAY transactions will no longer be eligible toearn Velocity Points. As such, the definition of‘Eligible Transaction’ is amended to exclude BPAYpayments.• Clause 3.1 (Accumulation of Points) is deleted andreplaced with the following:Velocity Points are awarded in respect of EligibleTransactions as set out in the table below. Thenumber of Velocity Points awarded is calculatedby reference to the dollar amount of the EligibleTransaction.© 2015 Virgin Money (Australia) Pty Limited ABN 75 103 478 897distributes the Virgin Money Credit Cards (“Credit Cards”) underan arrangement with Citigroup Pty Ltd ABN 88 004 325 080AFSL No. 238098, Australian credit licence 238098 (“Citibank”).Citibank is the credit provider and issuer of the Credit Cards.MCG15843_(1115)

 

[jmphoto]

Without doing my own research, what's the best Visa or Mastercard for Virgin Points? I typically use a combo of Amex Plat Edge and Amex Velocity, with the Flyer Card topping up if I can't use the Amex.

 

[Captain hum]

We've been using the high flyer visa for most everyday items not covered by the Amex Plat edge 3-2-1 or the Amex Velocity specials, as we get 1.25 per $.
I guess the only reason to use it now would be anywhere that won't take Amex... Time to ditch it maybe and look for another card with a bonus points start up offer.

 

[samas]

I was just having a look into this....

They are revamping the flight benefits too:
Reduced Price Flights - Velocity Benefits
Virgin Credit Cards | Virgin Money

Summary:
*Reduced flight "TWO41" offer disappears at 31 March 2016.
*Replaced by a $129 VA gift voucher
*High flyers will also get two single lounge entry passes each year (only valid for 6 months from issue).

I had my annual fee waived last year due to complaining about the TWO41 not being useful to me anymore after removing the ability for Flexi/Business TWO41 but I doubt that is going to be possible anymore given the $129 gift voucher = the cost of the annual fee of the flyer card.

Was going to try my luck when it comes for my fee renewal to be upgraded to the High Flyer ($289pa) for the cost of the Flyer ($129pa).​

 

[sjtaylor]

I called with the intention of cancelling my Virgin Flyer yesterday. All they could offer me was a 0% transfer offer which is really of no benefit to me. Was told to call back closer to the time of renewal to see if the offer had changed. I also queried the possibility of the High Flyer and was quoted the standard price, no exceptions.

 

[BRIS_VA_HAWK]

To be honest, the $129 voucher is of more use to me as I generally fly alone (hence TWO41 really hasn't been much of a boon).

Having said that, "mid-2016" sounds very vauge. :?

 

[Virgin Bart]

To be honest, the $129 voucher is of more use to me as I generally fly alone (hence TWO41 really hasn't been much of a boon).

Having said that, "mid-2016" sounds very vauge. :?

I was promised 1 April on phone.

 

[Deleted member 29185]

I was promised 1 April on phone.

Sounds fair. Anyone who persists with this card would have to be a bit of an April fool!

 

[Dannyism]

I have been thinking about this for a while and this is probably the final straw. I have a flyer card and a gold velocity amex, got great bonus points with them.

But now I intend to swap to the NAB package, get their bonus points then close my flyer and amex gold cards.

Then I intend to swap back and forth every year. Honestly I feel a bit silly for not doing that sooner.

 

[Virgin Bart]

I think it's a no brainer for us AFF that this is the end of the line. Cancel now if your annual fee is due before April 1, cancel after using voucher but before annual fee if due after April 1.

 

[smit0847]

I think it's a no brainer for us AFF that this is the end of the line. Cancel now if your annual fee is due before April 1, cancel after using voucher but before annual fee if due after April 1.

They've been waiving annual fees for years on both cards- if they continue to do so it'll be like getting a free $129 voucher every year just for keeping the card and not using it.

 

[Colin 2905]

Cancel now if your annual fee is due before April 1, cancel after using voucher but before annual fee if due after April 1.

I assume that the annual fee is due on my Flyer card at the end of April, based on the date on the paperwork when I got it earlier this year. Only time will tell if that's "mid-2016". My gut feeling is that it won't be.

EDIT: Given the latest "enhancements", I doubt that they'll waive the annual fee now. I guess I'll know in mid to late April.

 

[n7of9]

Without doing my own research, what's the best Visa or Mastercard for Virgin Points?

There is no 'best', just the least **** out a bunch of ****.
NAB AMEX/Visa combo 0.5/$1 on Visa
Enhanced Virgin Flyer Visa 0.66/$1
Enhanced Virgin High Flyer $1/$1

 

[theevilmuppet]

I wrote to Virgin Money last week, raising the following points:

* The annual fee is remaining the same whilst the earn rate is being cut by 20% and reducing the value of the card - how will this be addressed?
* In addition to the annual fee not being reduced to mirror the reduction in value of the card, Virgin Money is offering a reduced annual fee for new cardholders and bonus Velocity points whilst having demanded the full annual fee from existing cardholders coupled with no additional points and a reduction in value - how will this be addressed?

The response was from a script, asking that I call to see which promotions were available. I've written back, drawing attention to the respondent's inability to address the specific questions I asked however I am not hopeful of any movement until I threaten to cancel the card.

 

[Deleted member 29185]

I am not hopeful of any movement until I threaten to cancel the card.

I cancelled my card a few months ago, being very explicit that I wanted it cancelled completely. I noted last time I was home that a new statement had arrived :evil:. Yet another call I'll have to make.

 

[brebbles]

The removal of the TWO41 offer is a deal-breaker for me - getting a $129 voucher when the card costs $129 a year is not a benefit IMHO.

Needing to call their OS-based call-centre just to possibly get the annual fee waived is not a worthy substitute to the 4 reduced flights I was redeeming without fail year on year.

 

[AussieDuke]

Email received this morning....

These changes will take effect from 1 April 2016, unless otherwise indicated. Please read the brochure and retain for your records. Below is a summary of the changes:

1. The current flight benefit on your Virgin Australia Velocity High Flyer Card, known as the Exclusive Reduced Flights Benefit will end on 31 March 2016. It will be replaced with an annual $129 Virgin Australia Gift Voucher and 2 Single Entry Virgin Australia domestic Lounge passes per year from mid-2016. In response to customer feedback, we've made it easier for you to take advantage of our flight benefit

You'll still be able to fly using your Exclusive Reduced Flights Benefit as long as your booking is made on, or before, 31 March 2016, and in line with the applicable Terms and Conditions available at virginmoney.com.au/forms. For further information on the changes, including the new $129 Virgin Australia Gift Voucher and complimentary Lounge passes, visit virginmoney.com.au/flightbenefit T

2. The standard earn rate at which you earn Velocity Points will change to 1 Velocity Point per $1 for the first $10,000 of spend per Statement Period and then 0.5 Velocity Points per $1 thereafter. You'll also earn 3 Velocity Points per $1 spent on Eligible Transactions made with Virgin Australia Airlines, uncapped.

3. BPAY transactions will no longer be eligible to earn Velocity Points.

4. From 1 March 2016, you will be charged an International Transaction Fee on any transaction made with an overseas merchant in Australian Dollars.