Virgin Money will cut the Velocity Points earn rates on its Flyer and High Flyer cards from 1 October 2026. The update reduces how many points you earn on everyday spending.
NAB now issues Virgin Money credit cards after taking over Citibank’s Australian operations. The new earn rates align with changes across other NAB‑issued cards, including MyCard and NAB’s own credit card products.
High Flyer Card
Until 30 September 2026
Virgin Money currently gives 1 Velocity Point per $1 on the first $8,000 you spend each statement period. After you pass that cap, the earn rate drops to 0.5 Points per $1.
| Spend each statement period | Standard earn rate on retail purchases |
|---|---|
| First $8,000 | 1 Point per $1 on eligible transactions |
| After $8,000 | 0.5 Points per $1 on eligible transactions |
From 1 October 2026
From 1 October 2026, the earn rates fall. You will earn 0.75 Points per $1 on the first $5,000 in eligible purchases. Once you go past $5,000, the earn rate drops again to 0.25 Points per $
| Spend each statement period | Standard earn rate on retail purchases |
|---|---|
| First $5,000 | 0.75 Points per $1 on eligible transactions |
| After $5,000 | 0.25 Points per $1 on eligible transactions |
The new structure gives you fewer Velocity Points at every tier. The monthly spend caps also shrinks from $8,000 to $5,000, which limits how much you can earn through high‑value spending.
Flyer Card
Until 30 September 2026
Right now, Virgin Money gives 0.66 Velocity Points per $1 on the first $1,500 you spend each statement period. After you pass that cap, the earn rate drops to 0.5 Points per $1.
| Spend each statement period | Standard earn rate on retail purchases |
|---|---|
| First $1,500 | 0.66 Points per $1 on eligible transactions |
| After $1,500 | 0.5 Points per $1 on eligible transactions |
From 1 October 2026
From 1 October 2026, both tiers fall. You will earn 0.5 Points per $1 on the first $1,500 in eligible purchases. Once you go past $1,500, the earn rate drops again to 0.25 Points per $1.
| Spend each statement period | Standard earn rate on retail purchases |
|---|---|
| First $1,500 | 0.5 Points per $1 on eligible transactions |
| After $1,500 | 0.25 Points per $1 on eligible transactions |
The earn rates shrink at every level. The monthly cap stays at $1,500, but the value of each dollar spent drops. This means Flyer cardholders will earn fewer Velocity Points across all spending tiers.
Summary
The changes to Virgin Money’s card earn rates take effect on the same day Australia’s new, lower interchange rates begin. With interchange revenue dropping, banks have less funding available for rewards programs, which is why earn rates are being reduced.
