American Express Velocity Business Card

The basics

• Additional cardholders. The American Express Velocity Business Charge Card allows up to 99 additional cardholders for a fee of $99 per year per card. This is a great way to share your account with multiple family members and colleagues. You will be responsible for managing the account and making repayments.
• Digital wallets. This card is compatible with Apple Pay, Google Pay, and Samsung Pay.
• Gambling transactions. American Express has blocked this card from making any gambling-related purchases.

Rewards and benefits

• Airport lounge passes. Comes with two complimentary single-entry passes for select domestic Virgin Australia airport lounges.
• Complimentary travel insurance. None.
• Concierge services. The American Express Velocity Business Charge Card does not include a concierge service.
• Insurances. Cardholders get complimentary travel insurance, fraud protection, purchase protection insurance, medical emergency expense cover, personal liability cover, business trip completion, trip cancellation, and amendment cover.
• Rewards points. Earn 1 Velocity point per $1 spent on eligible purchases. Points can be redeemed with the Velocity Frequent Flyer program and will not expire as long as you have an active account. Earn points with ATO payments at a lower rate.
• Sign-up bonus. Get 150,000 Bonus Velocity Points upon applying by 6 November 2024, getting approval, and fulfilling the minimum spending requirement of $5,000 within 2 months of approval. Plus join the Virgin Australia Business Flyer program and enjoy a $250 Virgin Australia Business Flyer Travel Bank credit when you meet the eligibility criteria. The offer is valid for New American Express Card Members exclusively.

Rates and fees

• Annual fee. The ongoing annual fee for this card is $249, which is similar to other business cards of this type.
• Balance transfers. This card does not have a balance transfer offer.
• Foreign exchange fee. This card has a 3% foreign transaction fee on all purchases made in a foreign currency, either overseas or online.
• Interest-free period. The American Express Velocity Business Charge Card offers up to 51 days interest-free on purchases.
• Purchases. This is a charge card, so the balance must be paid in full each month.