American Express Velocity Escape Card

On American Express' website

American Express Velocity Escape Card

Highlights

  • Earn Velocity Points and enjoy $0 annual card fee.
  • Velocity Points earned on your card are transferred directly to your Velocity account each month and can be redeemed for a range of rewards including flights, accommodation, car hire, gift cards and much more.
  • Earn 0.75 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent.

Pros and cons

Pros

  • No annual fee, but still earn points.
  • Earn 1.75 Velocity Points per $1 spent on purchases with Virgin Australia.
  • Get 0.5 points per $1 when paying tax to the ATO using the card.
  • 55 days interest-free on purchases when the previous balance has been cleared in full.

Cons

  • Doesn't come with complimentary travel insurance.
  • No complimentary lounge access.
  • No access to the concierge service.
  • There is no balance transfer offer for this card.

Overview

The basics

  • Additional cardholders. Add up to 4 additional cards for family and friends at no extra charge. The main account owner is responsible for managing the credit limit, repayments, etc.
  • Digital wallets. You can use this card with Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. This card cannot be used for gambling transactions.

Rewards and benefits

  • Complimentary travel insurance. This card does not offer international travel insurance.
  • Concierge services. The American Express Velocity Escape Card does not come with access to a concierge service.
  • Insurances. Purchases made with the card are covered by refund and purchase insurance, as well as standard fraud protection.
  • Rewards points. Use the American Express Velocity Escape Card to earn 1.75 Velocity points per $1 spent with the Velocity Frequent Flyer program. Earn 0.75 Velocity Points per $1 spent on all other purchases. Spend with government bodies, for example the ATO, earns 0.5 Velocity Points per $1 spent.
  • Sign up bonus. There is currently no sign up bonus for this card.

Rates and fees

  • Annual fee. This card has an annual fee of $0, making it one of the few rewards cards with no annual fee.
  • Balance transfers. There is no balance transfer offer on this card at this time.
  • Foreign exchange fee. All purchases made in a foreign currency will encounter a 3% foreign transaction fee.
  • Interest-free period. The American Express Velocity Escape Card has up to 55 days interest-free on purchases.
  • Purchases. With no introductory offer on purchases, purchases made with the American Express Velocity Escape Card will attract the interest rate of 20.74% p.a.