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 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
Point Hacks earn a maximum of $200 per applicant for this card. More about this →
American Express are offering 50,000 bonus Velocity points for new cardholders with their Velocity Platinum credit card.
The card has a $375 annual fee, with the benefits of this card helping to offset this in both the first and subsequent years, including a free domestic Virgin flight, and two Virgin Australia lounge passes for use in domestic Virgin lounges.
American Express has also adjusted the earn rate on the card to 1.5 Velocity points per $1 on most eligible spend, with bonuses for dining and overseas spend removed. The annual fee has also been increased from $349 to $375. These are effective immediately for new cardholders, while existing cardholders will see these changes come into effect starting 3 October 2017.
This is still one of the highest Velocity points-earning cards in the market and is handy for ongoing use for Virgin Australia frequent flyers and Velocity points hunters.
The Velocity Platinum is a card to consider holding for the frequent Virgin flyer, especially for those who travel in Economy and can make good use of the included lounge passes and free flight.
Travel between Sydney/Melbourne and Perth in Virgin Australia’s A330 Business Class for 35,500 Velocity Points, one of our favourite ways to use Velocity Points
Digging into the benefits of the Velocity Platinum American Express
The Velocity Platinum American Express is a card to apply for if you usually fly with Virgin Australia and can take advantage of the bonus points from Virgin Australia spend and accompany lounge passes.
|Card||American Express Velocity Platinum|
|Loyalty program||Velocity Frequent Flyer|
|Points earned from spend||2.5 Velocity points earned per $ spent with Virgin Australia,
1.5 points earned per $ on all eligible spend except at government bodies including the ATO where you will earn 0.5 point per $ spent
|Earns points at ATO||Yes (reduced earn rate of 0.5 point/$)
|Travel benefits||Each year: 2x Virgin Australia lounge passes, 2x American Express Sydney lounge visits, free Virgin Australia domestic flight|
|Included insurances||Domestic and international travel insurance, travel inconvenience insurance, refund and purchase protection (PDS)|
|Overseas transaction fee||3% of the converted amount|
|Minimum income requirement||$65,000|
Earning Velocity points from spend
When using your card in Australia, you’ll receive 2.5 Velocity Points per dollar spent with Virgin Australia, and 1.5 Velocity Points per dollar on all other expenses except for utilities and the ATO.
Your Velocity Points will be swept over to your Velocity account on a monthly basis, and supplementary cardholders are free of charge.
Free Virgin Australia domestic Economy flight
With the Velocity Platinum card, you can also redeem a free domestic return flight with Virgin Australia to selected cities each cardholder year.
The city pair list that this flight can be redeemed for is wider than that offered with the Qantas Ultimate card.
It differs depending on your departure airport (Sydney in the map below), however, in a nutshell, it is to/from most cities within a couple of hours’ flight time of the departure airport. Read the full guide below for more information.
Image courtesy American Express
In all likelihood, the free domestic flight will cover the cost of the annual fee of the card alone – or close to, at least. In 2015, American Express removed the option to redeem the free flight from both Sydney and Adelaide to Perth but not the other way around, which reduces the value somewhat for those who frequent Western Australia.
Virgin Australia and American Express Lounge passes
The Velocity Platinum card comes with two free single entry passes to Virgin Australia domestic lounges each year.
Virgin Australia Melbourne Lounge
If you don’t have Velocity status, this is nice little perk which will see you enjoy their excellent domestic lounges. Save this up for a leisure trip, in my opinion.
On top of those, you’ll also receive two access passes to the American Express Lounge in Sydney’s International Terminal for you and a guest, plus two children travelling with you.
You can also buy additional access at $55 per visit.
Notably, this benefit is only available to the top-tier American Express cards at most banks, so this is quite a perk for a card with a lower annual fee.
Other American Express Velocity Platinum benefits
There is also a range of insurances, with domestic and international travel insurance, travel inconvenience insurance available for travel purchased on the card, as well as refund and purchase protection.
The full PDS outlining the details of all the benefits included with the Velocity Platinum card can be found here.
This guide references some of the benefits of insurance policies provided with this credit card.
You should read the PDS and obtain independent professional advice before obtaining this product.
Eligibility criteria for bonus points for existing American Express Card Members
American Express are quite specific about whether existing Card Members 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.
Previously American Express allowed Card Members of different family types (e.g. Charge, Credit or Business) to be eligible for bonus points offers for cards in a different family. This is now not the case, with this eligibility criteria being redefined to all previous Card Members of any ‘card products’ now being ineligible for bonuses.
The Velocity Platinum American Express is aimed at those really looking to maximise their Velocity earn from spend.
The additional lounge access, insurance and other perks are nice to have but are secondary in importance compared to the high Velocity points earn potential.
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