Good to see RB in town to spruik the new virgin money credit...

Good to see RB in town to spruik the new virgin money credit card. The card links directly to Velocity and includes ability to get a few 2-4-1 flights each year with VB.

Next steps would seems to be getting a larger retailer to take up the Velocity program, Coles would seem the logical choice but they are still aligned with Flybuys.

The Qantas FF program has been said to be worth circa $2bn (JPMChase) which puts it at about 1/3 to 1/4 of mkt cap. Conversely, I have rarely seen anyone give any value to the Velocity business when discussing VB's prospects.

All IMO.