American Express Velocity Platinum Credit Card Exclusive Offer

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Save money
Earn points
My monthly spend: 
$5,000
 
Offer
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Rewards program
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Points earned
American Express Velocity Platinum Credit Card Exclusive Offer
Apply by 29 jan 18
PARTNER EXCLUSIVE: Receive 100,000 points when you apply online by 29 Jan 2018, are approved and spend $1,500 on your new card within the first 3 months.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
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Velocity Frequent Flyer
Velocity Frequent Flyer
1.5 pts
per $1 spent
100,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

PARTNER EXCLUSIVE: Receive 100,000 points when you apply online by 29 Jan 2018, are approved and spend $1,500 on your new card within the first 3 months.
Great points earning rates with up to 2.5 points per dollar spent on purchases with Virgin Australia. Meanwhile, earn 1.5 pts per $1 spent everywhere else.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
2 complimentary single entry passes to the domestic Virgin Australia lounge each year at selected airports.
Complimentary access up to two entries per year to the American Express Lounge at Sydney International Airport T1.
Receive 100 Velocity Frequent Flyer Status Credits, when you spend a minimum of $50,000 within your Card Membership year.
Complimentary domestic and international travel insurance.
No extra cost for additional cardholders.
The complimentary flight is not eligible for Velocity Points and/or Status Credits earn.
If you’re doing a balance transfer then there’s a 1% balance transfer fee.
The introductory points offer excludes existing American Express Card Members.

Previous and existing bank-issued American Express companion cardholders are eligible for this offer (cards issued by: Australia New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation).

Our review

Our review of the American Express Velocity Platinum Credit Card Exclusive OfferReviewed by Yvonne Taylor

Could you be looking for an instant way to turn an already attractive credit card into one that’s almost irresistible? Then take a long, hard look at the American Express Velocity Platinum Credit Card Exclusive Offer. The 50,000 first-purchase Velocity bonus points, available to mere mortals submitting an application in any other way, will be doubled to a staggering 100,000 points when you apply for the card via this website, in our exclusive partner offer.

Don’t forget that this offer is complemented by a superior ongoing points earning rate, as well as a free domestic return flight annually, both Virgin Australia and American Express lounge access and free travel insurance. Throw in all the extra flights you could score with those channel exclusive 100,000 points, and the coming year might see you spending more time in the skies than ever before.

100,000 bonus points gives you heaps of redemption options

Those bonus 100,000 points will be yours for spending just $1,500 in 3 months of first holding the card. That’s only $500 per month, and is likely to be easily reached with everyday purchases. And 100,000 points earns you a whole lot of rewards, such as almost 13 economy flights between Melbourne and Sydney (101,400 points) or $550 in gift cards to spend at major retailers.

There are plenty of redemption options for points earned in the Velocity Frequent Flyer program, including:

  • Flights and upgrades with Virgin and its worldwide airline partners
  • Travel and accommodation
  • Holiday packages
  • Car hire
  • Fuel from BP service stations
  • Retail gift cards
  • Movie tickets and other entertainment
  • Other merchandise from the Velocity Rewards online store

Ongoing earning rate will keep your points balance healthy

Even when you’ve spent the bonus points, you’re still likely to make regular redemptions, given the healthy points earning rate for all your eligible credit card spending. You’ll get:

  • 1.5 pts per $1 spent for all card purchases, except
  • 0.5 pts per $1 spent for spending with government bodies (e.g. ATO. Australia Post, vehicle registration, local government rates)
  • 2.5 points per dollar for spending with Virgin Australia

Enjoy a complimentary return flight every year

Each year, after your first card spend following the anniversary of your account opening, you’ll be entitled to a return flight between your choice of Virgin Australia’s main domestic destinations.

Travel in style with free airport lounge access

Again, each year, on your card anniversary, you’ll receive two single-entry passes to not one, but two airport lounge groups: Virgin Australia and the Sydney international airport American Express lounge. These make a great adjunct to your free flight and all the award flights you’ll earn with your bonus and regular Velocity points.

Complimentary insurance to complement your travelling lifestyle

Still with the traveller in mind, AmEx will give you complimentary multi-trip annual overseas and domestic travel insurance: overseas emergency medical expenses, personal effects and trip cancellation or delay cover, and more. Simply pay for your travel with your card, and you’re covered.

Shoppers are not forgotten

Bearing in mind that credit cards are used for retail therapy as well as travel, AmEx will cover your purchases against theft, loss or accidental damage for 90 days. And if a retailer refuses return of an unused item, AmEx will step in instead and give you a refund.

Velocity Status Credit available

Frequent flyers appreciate the extra benefits that come with airline status credits, and there are 100 Velocity Frequent Flyer status credit up for grabs in any year where you spend $50,000 using your card.

A zero interest balance transfer if you need it

Since this is a premium rewards card, a 12 months balance transfer at 0% p.a. (with a 1% upfront fee) may not be high on your priority list. Having an unpaid balance transfer on your account will prevent you from taking advantage of interest-free purchases, since the 55 interest-free days will be suspended until your balance transfer is repaid. No purchases means no points (including no bonus points), no free flights and no complimentary insurance.

However, if you can make good use of the balance transfer to ease temporary liquidity problems, all those benefits (with the exception of the bonus points) will still be waiting for you when the balance has been repaid. Tip: In fact, you could still spend just the first $1,500 to earn the 100,000 points, transferring cash into your card account as you make each purchase in order to avoid interest charges.

Nothing special about the interest rate

Once again, prospective cardholders are unlikely to be choosing this card for its 20.74% p.a. interest rate for purchases (cash advances not available). Premium rewards cards like this are not aimed at anyone who expects to make regular use of credit beyond the normal 55 days allowed each statement period.

Digital wallet enabled

If you’d like to pay with your smartphone or other mobile device, and access other digital wallet features, AmEx have all bases covered. The card is eligible for Apple Pay, Samsung Pay and Android Pay.

Annual fee quickly recouped

It’s been all good news so far, but the annual fee of $375 p.a. (with no charge for a supplementary card) brings things down to earth to some extent. However, you’ll recover the fee immediately in the first year, even if you only use the bonus points for $550 worth of retail gift cards. In subsequent years, the $375 is swallowed up by the very comprehensive travel insurance (worth about $1,000 in any year where you use it to its full extent), free flight (at least $300) and lounge passes (an estimated $240). And all this is without counting the value of any ongoing rewards points you will earn.

Clearly, the bonus 100,000 points you can secure through this channel exclusive is a standout deal.

A card for the regular Virgin traveller

You’ll need to be a regular Virgin Australia traveller to make the most of this deal, but if you aren’t one already you soon will be, after receiving the annual free flight and earning bonus and ongoing Velocity points. Add these to the points you’ll earn for any Virgin Australia flights you actually have to pay for, take advantage of the airport lounge access and free insurance, and you may find yourself wondering how you ever managed before you had this card.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
American Express
Card use
Personal
Credit rating
No bad credit history
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$65,000
Minimum income for pensioners
Same as standard
Pensioners
N/A
Rewards program
Velocity Frequent Flyer
Temporary residents
N/A

Cardholders

Additional cardholders
99
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$3,000
Maximum credit limit
$100,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit20.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
$10,000 or 70% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the American Express Velocity Platinum Credit Card Exclusive Offer at the promotional balance transfer rate from:

  • American Express

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit 20.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances N/A N/A
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$375 p.a.
Cash advance fee
None
Dishonour fee
$6
Duplicate statement fee
$10
Foreign exchange fee
3%
Late payment fee
$30
Over limit fee
$15
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
N/A
Overseas emergency card replacement fee
N/A
Transaction verification fee
$7

Rewards & points

Cool stuff you can get with your points

Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

Rewards program basics

First purchase bonus
100,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Spend required for bonus points
$1,500 in 3 months

Earning points with this card

Frequent flyer points
1.5 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
0.5 pts per $1 spent
Reward points
1.5 pts per $1 spent

Additional benefits

Airport lounge access
Yes
Complimentary flight voucher
Yes
Concierge service
No

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $65,000 per year
Have no history of bad credit
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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