American Express Velocity Escape card is an entry-level card with 7,500 Velocity Points on offer with no annual fee. The points earn rate of 1 Velocity point earned per $ spent for no ongoing fee is aimed at budget-conscious points-hunters.
- 7,500 Velocity points after $750 minimum spend in 3 months
- No annual fee
- 1 Velocity Point per dollar earned everywhere
- 0% p.a. on balance transfers for the first 12 months with 1% establishment fee - maximum balance transfer is $10,000 or 70% of your approved credit limit, whichever is less
- Card Members who currently hold or who have previously held any other Consumer Credit Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer
Point Hacks earn a maximum of $70 per applicant for this card. More about this →
There’s currently 7,500 Velocity points available for new applicants to the American Express Velocity Escape credit card – it has no annual fee, and as a result comes with very few additional benefits outside of earning points – but it does that one thing well.
The Velocity Escape card is a great entry-level offering as a gateway into the world of Velocity points earn.
|Card||American Express Velocity Escape|
|Loyalty program||Velocity Frequent Flyer|
|Points earned from spend||2 Velocity points earned per $ with Virgin Australia, 1 point per $ everywhere else|
|Earns points at ATO||Yes|
|Minimum income requirement||$40,000|
The Velocity Escape American Express is visually cut from the same cloth, but targeted at a different customer to the high-end sister card the Velocity Platinum.
The Escape offers few ongoing benefits, but with a bargain of an annual fee for free.
This means it’s one of the best no or low annual fee cards out there for Velocity point earn for those who don’t want a heap of benefits with their card and don’t want to stump up for the annual fee.
You’ll earn 2 Velocity points per $ spent with Virgin Australia, or 1 point per $ everywhere else. Interestingly, this card also offers 1 point per $ on ATO transactions which is better than many other cards American Express issue.
Supplementary cardholders are free of charge for those who want to earn more points by adding household members onto their account.
The card is also enabled for Amex Offers and Local Champion for more points and statement credit offers from Amex.
Considering this card for Business-related transactions?
American Express offer a range of both business and consumer charge and credit cards. They do permit business transactions to be made on personal cards, unlike some other banks, but you might find some of the other business-focused benefits of the business cards to be appealing or more appropriate.
So – if you’re a sole trader or a business looking to earn points with your business spend – this card would still work for that purpose.
There’s a full list of business and personal consumer American Express cards which might be suitable for earning points from business-related transactions here.
Eligibility criteria for bonus points for existing American Express cardholders
American Express are quite specific about whether existing cardholders will be eligible for bonus points if they apply for a card, are approved, and meet the minimum spend criteria.
Firstly, if you hold a bank-issued American Express – e.g. from Westpac or from ANZ – that alone won’t affect whether you’re eligible for bonus points with an American Express branded card offer. There’s more in our guide to this here.
If you do already hold an American Express-issued card, then the type you hold impacts whether you’re eligible for a new cardholder bonus. American Express offer consumer (or personal) credit cards, consumer Charge cards, and business credit cards. If you hold a card in one of these categories and apply for a card in the same category, then you won’t be eligible for a bonus.
However if you hold a card in one category and apply for a new card in a different category, then you are eligible for the signup bonus. We’ve explained this in more detail here.
The Velocity Escape American Express is a compelling no annual fee credit card given it’s full 1 point per $ earn rate and with no annual fee. It’s not only a great entry level card for ongoing points earn, but it usually comes with a decent sign up bonus to encourage new customers too.
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