Point Hacks Credit Card Guide

The highest Velocity Points-earning credit cards

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.

Business Class redemptions on domestic Virgin Australia flights is one of the best uses of Velocity points

The highest-earning Velocity Point credit cards

Card / OfferAmerican Express Velocity Points earned / $ spentVisa/MasterCard/Diners Velocity Points earned / $ spentPoints CapAnnual FeeOur Guide
American Express Business Accelerator2 points-100,000 points p.a.
1 point per $ afterwards
160
American Express Velocity Platinum ↓1.5 points on general spend except utilities and ATO
2.5 points with Virgin Australia
-uncapped375
Westpac Altitude Black ↓1.5 points on general spend
2.5 points on foreign currency spend
(auto-redemption)
0.625 point
(auto-redemption)
uncapped$250 on the Mastercard
$199 on the Amex
American Express Explorer ↓1.5 points-uncapped395
American Express Business Explorer ↓1.5 points-uncapped395
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.1,450
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.1,750
Diners Club Card + World Mastercard2 points on Diners
0.75 points on Mastercard
uncapped299n/a
ANZ Rewards Black ↓1 point5,000 points per month
0.5 points per $ after cap reached
375
BoQ Specialist Signature Visa-1 point domestic
1.5 points overseas
10,000 pcm
0.5 points per $ afterwards
400
Virgin Money High Flyer Visa ↓-1 point8,000 points per month
0.5 point per $ afterwards
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.99
NAB Rewards Signature ↓-0.625 point on general spend
1.25 point in major dept. stores and hardwares
1.87 points on overseas spend
uncapped295
NAB Rewards Platinum ↓-0.5 point on general spend
1 point in major dept. stores and hardwares
1.5 points on overseas spend
uncapped195
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 Jones Platinum ↓0.5 point on general spend
1.5 points at supermarkets and on fuel
2 point at David Jones
-uncapped295
American Express David Jones0.5 point on general spend
1 point at David Jones
1.5 points at supermarkets and on fuel
-uncapped99

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


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.



The American Express Westpac Altitude Black when auto-redemption to Velocity Points is set up earns the equivalent of 1.5 Velocity points per dollar on general spend and 2.5 points per dollar on overseas spend with no points cap. The American Express account also earns 0.5 point per $ on government spend and the Mastercard variant earns the equivalent of 0.625 point per dollar on all spend.

If no Velocity auto-redemption is set up, the regular transfer rate of 3 Altitude Points to 1 Velocity Point applies. This reduces the effective earn rate to 1 Velocity Point per dollar on general spend, 1.67 Points per dollar on overseas spend and 0.16 Points per dollar on government spend for the American Express and 0.41 Point per dollar on all spend with the Mastercard.



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



The American Express Business Explorer’s earn rate is similar to the personal version of the card, which earns 1.5 Velocity points per dollar with no points cap, including utilities. Spend on government bodies earn 0.5 point per $.



ANZ Rewards Black earns 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.



The Citi Prestige Visa earns the equivalent of 0.5 Velocity point on general spend, 1 Velocity point on petrol, supermarkets and national retailers, and 1.5 point at major restaurants,
hotel chains and major airlines including overseas spend.



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.



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.



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.



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..



The NAB Rewards Signature Visa earns the equivalent of 0.625 Velocity point per dollar on general spend, 1.25 points per dollar in major department and hardware stores, and 1.87 points per dollar on overseas spend with no points cap.



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.



The American Express David Jones Platinum card earns the equivalent of 0.5 Velocity points per dollar on general spend, 1.5 points per dollar at Supermarkets and fuel, 2 points per dollar on spend at David Jones.

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.

The highest Velocity Points-earning credit cards was last modified: November 28th, 2018 by Keith

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Comments

  1. Kevin

    Hi Keith,

    The bonus offer (120,000 points) for Virgin Australia Velocity high flyer card. The terms and condition stated that “40,000 bonus Velocity Points will be awarded for every month $3,000 or more is spent on Eligible Transactions for 3 months from card approval. ”

    Does it mean that you have to spend $3000 every month for the first three months in order for a total bonus 120,000 points?

    Thank you

  2. 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)

  3. 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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