Point Hacks Credit Card Guide

The highest Velocity Point-earning credit cards – options for American Express earning over 1 point per $, Visa/MasterCard over 0.75 point per $

Virgin Australia’s Velocity is the second most popular frequent flyer program in Australia, with Velocity Points able to be used with a number of key airline partners including Etihad, Singapore Airlines and Delta.

Earning Velocity Points from credit card spend is one of the key ways that many Velocity members earn their points – if you happen to put a lot of your day to spend on any of American Express, Visa or MasterCard, there are some high points earning options out there.

We’ve rounded up some of the highest Velocity Point earning cards on the market, with American Express options earning more than Velocity Point per $, and the Visa / MasterCard options earning over 0.75 Velocity Points per $.

We’ve included an overview table so you can assess the cards that are out there, versus those you may have in your wallet. We also include some of the current sign up bonuses for new card applicants.

Note that 2017 will likely prove to be a changeable time in the Australian credit card market, with a number of changes from the Reserve Bank continuing to make themselves felt to consumers and business alike. It is likely we will see changes to card benefits, points earn rates, and annual fees. We will do our best to keep this guide up to date.

The highest earning Velocity Point credit cards

Card / OfferAmerican Express Velocity Points earned / $ spentVisa/MasterCard Velocity Points earned / $ spentPoints CapAnnual FeeOur Guide
American Express Business Accelerator ↓2 points100,000 p.a.160
Diners Club Card + World MasterCard2 points0.883 point389n/a
American Express Explorer ↓1.5 pointsuncapped395
ANZ Rewards Black ↓1.5 points0.625 pointuncapped375
Commonwealth Bank Diamond Awards1.5 points0.625 point1,000,000 p.a.349
Commonwealth Bank Business Awards Platinum1.5 points0.5 point300n/a
NAB Velocity Premium ↓1.5 points0.5 point20,000 per month150
Westpac Altitude Black ↓1.5 points0.625 point
1.5 points overseas
uncapped395
Westpac Altitude Business Platinum1.5 points0.5 point domestic
1 point overseas
uncapped295
Commonweath Bank Platinum Awards1.25 points0.5 point200,000 p.a.249
American Express Platinum Charge ↓1 point on general spend except utilities and ATO
3 points at selected restaurants
2 points on travel & overseas spend
300,000 p.a. 1,200
American Express Platinum Edge ↓1 point on general spend except utilities and ATO
3 points at supermarkets
2 points on fuel
uncapped195
American Express Business Platinum Charge1 point on general spend
2 points on selected business and advertising expenses
2 points at most restaurants in Australia
2 points on travel and overseas spend
375,000 p.a.1,500
American Express Velocity Platinum ↓1 point on general spend except utilities and ATO
3 points at selected restaurants and Virgin Australia
2 points on travel and overseas spend
uncapped349
BoQ Specialist Signature Visa1 point domestic
2 points overseas
2 points at Virgin AU
400n/a
Citi Prestige Visa ↓1 point domestic
2.5 points overseas
uncapped700
Virgin Money High Flyer Visa ↓1 point
3 points at Virgin AU
10,000 points per month
0.5 points per $ after cap reached
289
Coles Rewards MasterCard0.87 points equivalent with transfer from flybuys to Velocityuncapped89
American Express David Jones0.5 point on general spend
1 point at David Jones
1.5 points at supermarkets and on fuel
uncapped99
American Express David Jones Platinum0.5 point on general spend
1.5 points at supermarkets and on fuel
2 point at David Jones
uncapped295

How to analyse this list

For all the cards and offers listed on this page we are only touching on the ‘effective earn rate’ – this is when points in the parent bank / credit card rewards program are transferred to Velocity points, and is a way to compare the specific points earn rates for each card across various credit card rewards programs that offer different headline earn rates and transfer rates to frequent flyer programs.

Each card has other benefits too, along with other transfer partners, annual fees and terms and conditions – so be sure to check out the full guide to each card.

There’s also the signup bonus of a card to consider. A large signup bonus may help to offset a lower earn rate on a card, so bear that in mind. It depends how much spend you put through your credit card each month, and how long you keep the card for.

Each card offer, with bonus, fee and other offer information on this page will be up to date at the date of publication, however please note that we update offers over time.

Transferring to Velocity Points through KrisFlyer


Some current offers for key Velocity Frequent Flyer earning Credit Cards



Coles Rewards MasterCard - a great flybuys points earn rate with no overseas transaction fees on purchases

The Coles Rewards MasterCard earns flybuys points which can be transferred to Etihad Guest, Velocity Frequent Flyer or used at the checkout at Coles. There's a $89 annual fee, and the card also offers no overseas transaction fees.

  • $50 off a single Coles Supermarket shop for new customers until April 30th 2017 (terms apply)
  • Earn 2 flybuys points per dollar spent - with flybuys now transferrable to both Velocity & Etihad Guest
  • Equivalent earn rate of 0.87 Velocity points or 0.8 Etihad Guest Miles per $ spent, if transferred
  • No foreign transaction fees on purchases not in Australian Dollars
  • Combined flybuys and credit card - includes Coles Pay Tag for convenience
  • $89 p.a. annual fee
  • $50 off a single Coles Supermarket shop is activated on your flybuys account and available for use within 2 weeks of your first eligible purchase
  • To redeem the $50 off you must scan your flybuys barcode and spend a minimum of $50.05 after savings and discounts in one transaction at Coles Supermarket or BI-LO, excluding smoking/tobacco purchases and all gift cards
  • $50 can only be redeemed once and expires on 31st August 2017, and can't be used at Coles Express or Coles Online
  • Offer available to new customers only and ends April 30th 2017

Find out more or apply →

Point Hacks receives up to $135 per applicant for this card. More about this →

The Coles Rewards MasterCard earns the equivalent of 0.87 Velocity Points per dollar, with no points cap.


American Express Business Accelerator - 2 points per $ up to 100,000 points yearly

The American Express Business Accelerator offers business owners and sole traders 2 Membership Rewards per dollar up to 100,000 points earned each cardholder year, with 1 point per $ earned after for an annual fee of $160.

  • 2 Membership Rewards points earned per $ spent everywhere (except for utilities, insurance and the ATO up to 100,000 points per year)
  • 1 Membership Rewards point earned per $ after 100,000 points earned in a year
  • $160 p.a. annual fee

Find out more or apply →

Point Hacks earn a maximum of $100 per applicant for this card. More about this →

The American Express Business Accelerator earns the equivalent of 2 Velocity Points per dollar up to 100,000 points earned per year.



American Express Explorer - 100,000 Membership Rewards Gateway points

American Express 'Explorer' card has 100,000 bonus Membership Rewards Gateway points on offer. Includes $400 travel credit each year, free American Express lounge access plus a range of insurances and high points earn rates on spend.

  • 100,000 Membership Rewards Gateway point bonus
  • $400 travel credit every year
  • Free access to the Sydney Airport American Express lounge twice a year
  • 2 Membership Rewards points earned per $1 on all purchases except government bodies where you will earn 0.5 points per $1 spent.
  • Included Insurances - smartphone screen insurance and various travel insurances (PDS)
  • 0% p.a. on balance transfer for the first 12 months - A one-off credit plan establishment fee of 1% applies
  • $395 p.a. annual fee
  • Card Members who currently hold or who have previously held any Credit Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer
  • $1,500 minimum spend in 3 months required to earn bonus points
  • Offer ends: 15 May 2017

Find out more or apply →

Point Hacks earn a maximum of $250 per applicant for this card. More about this →

The American Express Explorer earns the equivalent of 1.5 Velocity Points per dollar with no points cap, including utlities. Government bodies earn at 0.5 points per $ spent.



ANZ Rewards Black Visa - $250 Westfield Gift Card

ANZ is offering a $250 Westfield Gift Card, when you spend $2,500 on eligible purchases in the first 60 days from approval plus $0 annual fee for the first year with the ANZ Rewards Black Visa. Eligibility criteria, T&Cs, fees and charges apply.

  • $250 Westfield Gift Card when you spend $2,500 on eligible purchases within 60 days of approval
  • $0 annual fee for the first year
  • 24/7 Personal Concierge and exclusive entertainment and lifestyle offers
  • ANZ's highest point earn rate on spend with 2 ANZ Rewards points earned per $1 spent on eligible purchases uncapped until 5th August 2017
  • After 5th August 2017 points caps apply - earn 2 Reward Points per $1 spent on eligible purchases up to $5,000 per statement period, then 1 Reward Point per $1 spent on eligible purchases above $5,000 per statement period
  • Annual Fee: $375 p.a.
  • Signup bonus points will be awarded within 2 months of meeting purchase criteria

Find out more or apply →

Point Hacks earn up to $150 per applicant for this card. More about this →

ANZ Rewards Black earns the equivalent of 1.5 Velocity points per dollar on the American Express and 0.625 Velocity points per dollar on the linked Visa when transferred directly from ANZ Rewards with no points cap.



The NAB Velocity Premium earns 1.5 Velocity point per dollar on the American Express and 0.5 Velocity points per dollar on the linked Visa capped at $20,000 per statement period.



Westpac Altitude Black Amex & MasterCard - 50,000 Qantas or Altitude Rewards Points

Westpac's top-end Altitude Black card has a 50,000 bonus Qantas or Altitude points on offer plus a heap of ongoing card benefits, including Qantas or Priority Pass lounge invites and Starwood Preferred Guest Gold status.

  • 50,000 Qantas Points or Altitude Rewards points
  • 1.5 Qantas Points or 3 Altitude Points for every $1 spent on the American Express
  • 0.625 Qantas Points or 1.25 Altitude Points for every $1 spent on the MasterCard, plus 1.5 Qantas Points or 3 Altitude Points for every $1 spent overseas on the MasterCard
  • 2 x Qantas Club or Priority Pass invitations per cardholder year
  • Access to World MasterCard benefits, including Starwood Preferred Guest Gold status after one paid stay
  • Overseas Travel Insurance, Purchase Protection etc. (PDS)
  • $395 annual fee
  • $5,000 minimum spend in 90 days required to earn bonus
  • Bonus points offer not available with switches, upgrades, customers accessing employee benefits or packages.
  • Offer ends: 20th April 2017

Find out more or apply →

Point Hacks earn up to $300 per applicant for this card. More about this →

The Westpac Altitude Black and Altitude Business Platinum cards will earn 1.5 Velocity points per dollar on the American Express. The Altitude Black will earn 0.625 Velocity points per $ on the linked MasterCard, while the Altitude Business Platinum will earn 0.5 Velocity points.



Citi Prestige Visa - 70,000 Citi Rewards points (35,000 KrisFlyer / Velocity points if transferred)

70,000 Citi Rewards Points are on offer with the Citi Prestige Visa when signing up and linking to Citi Rewards - you can transfer these points to Virgin, Krisflyer or Asia Miles.

  • 70,000 Citi Rewards points after first eligible transaction
  • Ability to transfer points to Velocity, Krisflyer, Asia Miles or other international frequent flyer programs
  • Priority Pass lounge access, Visa Luxury Hotels service, and other premium benefits
  • 2 Citi Rewards points earned per $ or 1 Qantas point per $, 5 Citi Rewards points per $ earned on overseas transactions
  • Points earn equivalent to 1 Velocity points or KrisFlyer miles per $ spent domestically, or 2.5 per $ spent on overseas transactions
  • 0% interest p.a. on balance transfers for 6 months
  • $700 annual fee
  • $150,000 p.a. minimum income requirement
  • Offer expires: April 30th 2017

Find out more or apply →

Point Hacks earn a maximum of $280 per applicant for this card. More about this →

The Citi Prestige Visa earns the equivalent of 1 Velocity point per dollar with no points cap, and 2.5 Velocity points per $ on all overseas spend.



Virgin Money Velocity High Flyer Visa - Up to 50,000 Velocity points

Virgin Money have up to 50,000 bonus Velocity points on offer with their High Flyer Visa. This has one of the highest Visa earn rates for Velocity points out there along with Virgin Australia flight credit voucher and lounge benefits.

  • Up to 50,000 bonus Velocity Points (spend criteria apply)
  • $129 Virgin Australia flight credit voucher and 2 lounge passes
  • 1 Velocity Points earned per $ spent up to 10,000 Points per month, 0.5 Velocity Points per $ after
  • 1.9% p.a. on balance transfers for 15 months
  • $289 p.a. annual fee
  • Offer expires: 3rd April 2017
  • 10,000 bonus points for every month you spend $3,000 or more in the first 5 months

Find out more or apply →

Point Hacks earn a maximum of $80 per applicant for this card. More about this →

The Virgin High Flyer Visa earns 1 Velocity point per dollar on general spend capped at 10,000 points per month and 0.5 points per dollar once the cap is reached. The High Flyer Visa also earns 3 points per $ for spend with Virgin Australia uncapped.



The American Express Platinum Charge earns the equivalent of 1 Velocity point per dollar on general spend, 3 points at selected restaurants and 2 points on travel and overseas spend, uncapped.



American Express Platinum Edge - No annual fee on the first year

American Express are offering 5,000 bonus Membership Rewards points and no annual fee on the first year with the Platinum Edge. This includes $200 travel credit each year, 3 points per $ at supermarkets, and 2 points per $ on fuel.

  • 5,000 Membership Rewards point bonus
  • $200 travel credit each year which can be used for flight, hotel or rental car bookings with Amex Travel
  • Travel and purchase protection insurances (PDS)
  • 3 Membership Rewards points earned per $ spent at supermarkets, 2 points earned per $ on fuel, and 1 point per $ everywhere else except for utilities and the ATO
  • 0% p.a. on balance transfers for the first 12 months, with a 1% establishment fee - maximum balance transfer is $10,000 or 70% of your approved credit limit, whichever is less
  • Annual fee: Free on the first year (usually $195 p.a.)
  • Card Members who currently hold or who have previously held any Credit Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer.
  • $750 minimum spend in 3 months required to earn bonus points

Find out more or apply →

Point Hacks earn a maximum of $200 per applicant for this card. More about this →

The American Express Platinum Edge earns the equivalent of 1 Velocity point per dollar on general spend, 3 points at Supermarkets and 2 points on fuel spend, uncapped.



American Express Velocity Platinum - 50,000 Velocity Points

The American Express Velocity Platinum card has a 50,000 Velocity Point bonus, along with a number of Virgin Australia perks including lounge passes, bonus points, and a free domestic flight.

  • 50,000 Velocity point signup bonus
  • Two free Virgin Australia lounge passes each cardholder year
  • One free domestic flight with Virgin Australia each cardholder year
  • 3 Velocity points earned per $ spent at restaurants and with Virgin Australia, 2 points earned per $ on other travel, and 1 point per $ everywhere else except for utilities and the ATO
  • $349 annual fee
  • 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 Credit Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer
  • $1,500 minimum spend within the first 3 months required to trigger bonus points

Find out more or apply →

Point Hacks earn a maximum of $250 per applicant for this card. More about this →

The American Express Velocity Platinum card earns the equivalent of 1 Velocity point per dollar on general spend, 3 points at selected restaurants and Virgin Australia, and 2 points on travel and overseas spend, uncapped.

Cards in the table, but not mentioned above

Offers for some of the cards are not mentioned above as they don’t offer a sign up bonus, or we don’t have a guide for them yet.

The focus of this guide is to outline the highest earning Velocity Point credit cards out there – there are many other cards with differing points earn rates and annual fees that are also linked to Velocity Frequent Flyer. Check out the cards table for the list.

Jump back up to offer ↑

Point Hacks Credit Card Information

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We have not taken into consideration your circumstances or financial situation when providing the information on this website. It is important you read the relevant PDS from the product issuer and seek the independent advice of an appropriately qualified professional before making a decision on a product.

Comments Expand Comments

  1. What also needs to be considered is which cards transfer directly to velocity and which don’t. For those that don’t if you take advantage of transferring when velocity offer an additional 15% bonus you could be better off, but in saying that cards that do transfer directly may have a better conversion rate effectively making them a better card even if you don’t get the additional 15% transfer bonus.

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