The American Express Velocity Platinum Card has a $375 annual fee, with the benefits helping to offset this including a free domestic return Virgin flight, two Virgin Australia lounge passes for use in domestic Virgin lounges and two more American Express lounge passes to be used at either the Sydney or Melbourne American Express lounges.
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 American Express 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.
Digging into the benefits of the American Express Velocity Platinum Card
The American Express Velocity Platinum is the card to apply for if you usually fly with Virgin Australia and can take advantage of the bonus points from Virgin Australia spend and accompanying lounge passes.
|Card||American Express Velocity Platinum|
|Loyalty program||Velocity Frequent Flyer|
|Points earned from spend||1.25 Velocity points earned per $1 on all eligible spend except for government bodies
1 Additional Velocity point per $1 spent on selected Virgin Australia purchases
0.5 Velocity points per $1 on Government spend
|Earns points at ATO||Yes (reduced earn rate of 0.5 point/$)
|Travel benefits||Each year: 2x Virgin Australia lounge passes, 2x American Express Sydney/Melbourne 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|
Here’s a short video of all the features the card offers:
When using your card in Australia, you’ll receive 2.25 Velocity Points per dollar spent with Virgin Australia, and 1.25 Velocity Points per dollar on all other expenses except for government bodies where you will earn 0.5 Velocity Points per dollar spent.
Your Velocity Points will be swept over to your Velocity account on a monthly basis, and additional card members are free of charge.
With the American Express Velocity Platinum Card, you can also redeem a free domestic return flight with Virgin Australia to selected cities each Card Member year.
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.
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 Sydney, Melbourne and Adelaide to Perth but not the other way around.
The American Express Velocity Platinum Card comes with two free single-entry passes to Virgin Australia domestic lounges each year. You can use these passes prior to travelling on a Virgin Australia domestic flight (not a Virgin Australia international flight or any flight with another carrier).
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 an American Express Lounge at Sydney or Melbourne’s International Terminal, 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.
Another noteworthy ongoing benefit of the American Express Velocity Platinum Card is the Velocity Status Credits.
American Express are offering 100 Velocity Status Credits as a target for spending $50,000 in 12 months (your account membership year)—this applies to both existing and new Card Members and is a neat way of bumping up your Status Credits balance if you are on the hunt for Silver, Gold or Platinum Velocity status.
Calm App Offer for American Express Card Members
All American Express Card Members will receive a complimentary year of Calm Premium membership, which is an award winning Sleep, Meditation and Relaxation app, valued at $79.99. In the following year, if Card Members elect to renew, they will receive 50% off the standard rate. Click-through to https://www.calm.com/americanexpressglobal, to sign up for the offer.
Live Date: 26 August 2020
End Date: 31 October 2020
Eligible Products: All American Express consumer cards.
American Express Plan It
American Express launched ‘Plan It’ in mid-2020, which allows cardholders to create instalment plans that allow for equal payments to be distributed over a 3, 6 or 12 month payment period. There is a monthly fixed fee to access this feature, with up to 10 Plan It plans with a minimum of $150 balance able to be created.
There is also a range of insurances, including domestic and international travel insurance, and 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 American Express Velocity Platinum Card can be found here.
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
Unparalleled mobile wallet integration
American Express cards support Apple Pay, Google Pay and Samsung Pay, meaning you can use this card on your smartphone for easier payments.
With this feature set up, it means you could still use your NFC-enabled phone to make purchases with your American Express account, even if your physical card is lost or stolen and pending replacement.
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.
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.
American Express don’t allow existing Card Members, even for different types of American Express cards (e.g. Charge, Credit or Business) to be eligible for bonus points offers for cards in a different family.
The American Express Velocity Platinum Card 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.