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 $

Velocity Frequent Flyer from Virgin Australia 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-day spend on American Express, Visa or Mastercard, there are some high points earning options out there.

We’ve rounded up some of the highest Velocity Points-earning cards on the market, with American Express options earning more than 1 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.

Earn rate changes

Note that 2017 is proving to be a game changer 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. We are now seeing changes in a wide range of cards especially with regards to card benefits, points earn rates and transfer rates.

All figures in the tables below are updated with details from the latest announcements and we will do our best to keep this guide up-to-date.

Both ANZ and Citi were the first ones to announce changes to their range of credit cards this year. ANZ is severing ties with American Express but also increasing earn rates on Visa cards, albeit implementing a points cap across their lineup, effective 6 August 2017.

Citi’s changes also affect the majority of their points-earning credit cards, with both earn rate and transfer rate to partners being adjusted, effective 15 June 2017.

Recent announcements by Westpac, St. George group, NAB and Commonwealth Bank have seen even more changes coming into the scene with most changes effective from 1 July 2017 onwards.

You can keep up with all the upcoming changes here.

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 points (1 mile after points cap)-100,000 p.a.160
American Express Velocity Platinum ↓1.5 points on general spend except utilities and ATO
2.5 points with Virgin Australia
-uncapped375
American Express Explorer ↓1.5 points-uncapped395
ANZ Rewards Black ↓1.5 points until 5th August 2017 for existing cardholders1 point2,500 points per month
0.5 points per $ after cap reached
375
Westpac Altitude Business Platinum ↓1.5 points0.5 point domestic
1 point overseas
uncapped295
Westpac Altitude Black ↓1.25 points0.625 pointuncapped395
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 Charge ↓1 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
BoQ Specialist Signature Visa-1 point domestic
1.5 points overseas
10,000 pcm
0.625 points per $ after cap reached
400n/a
Virgin Money High Flyer Visa ↓-1 point8,000 points per month
0.5 point per $ after cap reached
289
Coles Rewards MasterCard ↓-0.87 points equivalent with transfer from flybuys to VelocityTransfer is capped at 60,030 Velocity Points per household p.a.89
NAB Rewards Platinum ↓-0.5 point on general spend
1 point in major dept. stores and hardwares
1.5 points on overseas spend
uncapped195
NAB Rewards Business Platinum ↓-0.5 point on general spend
1 point in major dept. stores and hardwares
1.5 points on overseas spend
uncapped175
Citi Prestige Visa-0.5 point on general spend
1 point on petrol, supermarkets
and national retailers
1.5 point at major restaurants,
hotel chains and
major airlines and overseas spend
uncapped700
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.


Some current offers for key Velocity Frequent Flyer earning Credit Cards



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 $200 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 Velocity Platinum - 100,000 Velocity Points

The American Express Velocity Platinum card has a 100,000 Velocity Point bonus, along with a number of Virgin Australia perks including lounge passes, bonus points, and a free domestic flight.

  • 100,000 Velocity point bonus
  • Two free Virgin Australia lounge passes each cardholder year
  • One free domestic flight with Virgin Australia each cardholder year
  • 2.5 Velocity points earned per $ spend on selected Virgin Australia purchases, 1.5 Velocity points earned per $ on everything else except for government bodies and the ATO
  • 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
  • $375 annual fee
  • Card Members who currently hold or who have previously held any 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
  • Offer ends: 31 July 2017

Find out more or apply →

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

The American Express Velocity Platinum card earns 1.5 Velocity point per dollar on general spend except for government bodies and the ATO, and 2.5 points per dollar on selected Virgin Australia products and services.

Government bodies and the ATO will earn 0.5 point per $ spent.



American Express Explorer - 50,000 Membership Rewards Gateway points

American Express 'Explorer' card has 50,000 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.

  • 50,000 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 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

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 - 75,000 ANZ Rewards Points

ANZ are offering 75,000 bonus ANZ Rewards Points when you spend $2,500 on eligible purchases in the first 3 months and $0 annual fee for the first year with the ANZ Rewards Black. Eligibility criteria, T&Cs, fees and charges apply.

  • 75,000 ANZ Rewards point bonus after $2,500 minimum spend in the first 3 months after 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: No annual fee for the first year, usually $375
  • Signup bonus points will be awarded within 2 months of meeting purchase criteria
  • Offer only available to new ANZ Rewards customers who meet eligibility criteria, exclusions apply.

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 for existing cardholders until 5th August 2017, read more about the ANZ changes here. Earn rate on the Visa-linked card is 1 Velocity point per dollar up to $5,000 per statement period and then 0.5 point per dollar thereafter when transferred directly from ANZ Rewards with no points cap.



Westpac Altitude Business Platinum American Express & Visa

Westpac's Altitude Business Platinum card is one of the few cards that can transfer points to Qantas Frequent Flyer as well as other airline programs on demand, and no annual fee in the first year.

  • No annual fee in first year
  • 3 Altitude Points for every $1 spent on the American Express (=1.5 points if transferred to Qantas or Velocity points, and 1.2 miles to Krisflyer miles or Asia Miles)
  • 1 Altitude point per $ on the Visa domestically, 2 points per $ on overseas transactions and 0.5 points per $ on government spend
  • No points capping
  • 0% p.a. interest for 12 months on purchases
  • Business and travel insurances
  • $295 annual fee ongoing
  • 0% interest p.a. on purchases for first 12 months
  • Offer ends: 31st May 2017
  • Applicants must have ABN or ACN

Find out more or apply →

Point Hacks earns a range of commissions per applicant for this card. More on my featured credit card policy →

The Westpac Altitude Business Platinum cards earns 1.5 Velocity points per dollar on the American Express and 0.5 points on domestic spend and 1 point on overseas spend with the linked Mastercard.



Westpac Altitude Black Amex & MasterCard - 80,000 Qantas or Altitude Rewards Points

Westpac's Altitude Black card is offering 80,000 bonus Qantas or Altitude points plus $200 off the 1st year annual fee. There are many ongoing card benefits, including Qantas or Priority Pass lounge invites and Starwood Preferred Guest Gold status.

  • 80,000 Qantas Points or Altitude Rewards points
  • $200 off the first year annual fee, making it $195 (usually $395)
  • 1.25 Qantas Points or 2.5 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
  • 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)
  • $195 annual fee for the first year (usually $395 p.a.)
  • $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: 28th June 2017

Find out more or apply →

Point Hacks earns a range of commissions per applicant for this card. More about this →

The Westpac Altitude Black earns 1.25 Velocity points per dollar on the American Express and 0.625 Velocity points per $ on the linked Mastercard.



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: 15th June 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 8,000 points per month and 0.5 points per dollar once the cap is reached.



American Express Platinum Charge - 80,000 Membership Rewards points

With a 80,000 Membership Rewards points bonus available on sign up, the American Express Platinum Charge is a great card for those who want to earn Membership Rewards points on everyday spend with lots of additional benefits. Read the Point Hacks guide for the full rundown.

  • 80,000 Membership Rewards points signup bonus
  • $300 travel credit annually
  • Unlimited access to certain airline lounges - including Virgin Australia Domestic, Delta and American Express lounges globally
  • Access to American Express Fine Hotels & Resorts perks & discounts
  • 3 Membership Rewards points earned per $ spent at restaurants, 2 points earned per $ on travels, and 1 point per $ everywhere else except for utilities and the ATO
  • $1200 p.a. annual fee
  • Card Members who currently hold or who have previously held any 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.
  • Bonus points require $1,500 minimum spend in first 3 months
  • Charge card, not credit card - balance requires payment in full each month but with no pre-set spending limit - more about this

Find out more or apply →

Point Hacks earn a maximum of $330 per applicant for this card. More about this →

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 $200 travel credit each year and no annual fee on the first year with the Platinum Edge. Offers 3 points per $ at supermarkets, and 2 points per $ on fuel.

  • $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 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.

Find out more or apply →

Point Hacks earn a maximum of $180 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 Platinum Business Charge - 100,000 Membership Rewards points

With a 100,000 Membership Rewards bonus, the American Express Platinum Business Charge card is aimed at small and medium size businesses who want to maximise their points earn and travel benefits.

  • 100,000 Membership Rewards points on approval
  • 2 Membership Rewards points earned per $ spent at restaurants, airlines, accommodations and business expenses, 1 point per $ everywhere else except for utilities and the ATO
  • A vast range of Small and Medium Enterprise specific benefits, insurances (PDS), rewards and travel options
  • Unlimited access to Virgin Australia and American Express airline lounges globally
  • $1500 p.a. annual fee
  • Spend $5,000 in first two months of ownership to qualify for signup bonus
  • Card Members who currently hold or who have previously held any other 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.
  • Offer expires: 31st May 2017

Find out more or apply →

Point Hacks earn a maximum of $330 per applicant for this card. More about this →

The American Express Platinum Business Charge earns the equivalent of 1 Velocity point per dollar on general spend, 2 points on selected business and advertising expenses, 2 points at selected restaurants and 2 points on travel and overseas spend, capped at 375,000 p.a..



Coles Rewards MasterCard - $100 off a single Coles Supermarket shop

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 international transaction fee on purchases.

  • $100 off a single Coles Supermarket shop for new customers until June 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 international transaction fee on purchases not in Australian Dollars
  • Combined flybuys and credit card - includes Coles Pay Tag for convenience
  • $89 p.a. annual fee
  • $100 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 $100 off you must scan your flybuys barcode and spend a minimum of $100.05 after savings and discounts in one transaction at Coles Supermarket or BI-LO, excluding smoking/tobacco purchases and all gift cards
  • $100 can only be redeemed once and expires on 30th September 2017, and can't be used at Coles Express or Coles online
  • Offer available to new customers only and ends June 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. Transfer to Velocity points however is capped at 60,030 Velocity points per household per calendar year.



NAB Rewards Platinum Visa - 80,000 NAB Rewards Points

The NAB Rewards Platinum Visa has 80,000 bonus points and $0 annual fee for the first year. NAB Rewards allows you to transfer points to Velocity, Asia Miles and Air NZ Airpoints, and offers bonus points for overseas spend and purchases at major department and hardware stores.

  • 80,000 bonus NAB Rewards points - transfers to 40,000 Velocity Points, or 26,666 Asia Miles
  • $0 annual fee for the first year
  • 1 NAB Rewards point earned per $1 spend on everyday purchases
  • 3 NAB Rewards points earned per $1 spend overseas and 2 NAB Rewards points in major department and hardware stores
  • NAB Rewards points can be transferred to Velocity Points, Asia Miles or Air NZ Airpoints
  • 7 complimentary insurances including overseas travel (PDS)
  • $0 for the first year ($195 p.a. ongoing)
  • Offer expires: 31st May 2017
  • Spend $2,500 on everyday purchases within the first 90 days to receive bonus points
  • Offer unavailable if closing/transferring from another NAB credit card account

Find out more or apply →

Point Hacks earn a maximum of $110 per applicant for this card. More about this →

The NAB Rewards Platinum Visa earns the equivalent of 0.5 Velocity Points per dollar on general spend, 1 point in major department and hardware stores, and 1.5 points overseas with no points cap.



NAB Rewards Business Platinum Visa - 80,000 NAB Rewards Points

The NAB Rewards Business Platinum Visa currently has 80,000 bonus points and $0 annual fee for the first year. NAB Rewards allows you to transfer points to Velocity, Asia Miles and Air NZ Airpoints, and offers bonus points for overseas spend and purchases at major department and hardware stores.

  • 80,000 bonus NAB Rewards points - transfers to 40,000 Velocity Points, or 26,666 Asia Miles
  • $0 annual fee for the first year
  • 1 NAB Rewards point earned per $1 spend on Business purchases
  • 3 NAB Rewards points earned per $1 spend overseas and 2 NAB Rewards points in major department and hardware stores
  • NAB Rewards points can be transferred to Velocity Points, Asia Miles or Air NZ Airpoints
  • 7 complimentary insurances including overseas travel (NAB Card Insurance PDS)
  • $0 for the first year ($175 p.a. ongoing)
  • Offer expires: 31st May 2017
  • Spend $15,000 spend within the first 90 days to receive bonus points
  • Offer unavailable if closing/transferring from another NAB credit card account

Find out more or apply →

Point Hacks does not earn a specific commission for applicants of this card. NAB is a Point Hacks site sponsor. More about this →

The NAB Rewards Business Platinum Visa has the same earn rate as the personal Rewards Platinum card, with an equivalent of 0.5 Velocity Points per dollar on general spend, 1 point in major department and hardware stores, and 1.5 points overseas with no points cap.


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

Point Hacks is published by Newformula Media. Newformula PTY LTD (ACN: 609 361 051) is a credit representative (486568) of Eurofinance Corporation Pty Ltd (Australian Credit License: 393845). In some instances, Newformula PTY LTD receives a commission or benefit for referring you to the services of a credit provider. This commission or benefit is disclosed at the point of referral to the credit provider. This website does not provide credit, assist you in obtaining credit, or advise you to apply for any particular product from a provider.

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.

While we invest a great deal of time and energy into ensuring we provide with you with the most up to date and accurate information, we do not warrant the accuracy of statements or information contained on the Website relating to third party goods and services, including credit card information, loyalty schemes and rewards. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability arising from any person acting on those statements or information to the fullest extent permitted by law. Where conditions or warranties are implied by law and cannot be excluded, our liability will be limited to the re-supply of information. You should confirm the accuracy of information provided on this Website with the third party product provider before acting on it.

Comments Expand Comments

  1. Nicky

    Hi Keith. Is the Westpac Black AMEX devaluation happening after a certain date? I haven’t been contacted about it by Westpac, and my Altitude account still tells me it’s 3ppd (1.5 Velocity)

  2. 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.

Leave a Reply