On website
American Express Velocity Platinum Credit Card
Highlights
- Receive 100,000 bonus Velocity Points when you apply by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. Available to new Amex Card Members only.
- Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year.
- Enjoy 2 complimentary Virgin Australia lounge passes each anniversary year at selected domestic airports.
Pros and cons
Pros
Cons
Our review
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The basics
- Additional cardholders. Add up to 4 additional cards for family and friends at no extra charge. The main cardholder will be responsible for the management of the account, for example, making sure repayments are on time and managing credit.
- 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. Amex automatically block any transaction classified as such.
Rewards and benefits
- Complimentary travel insurance. This card comes with complimentary international travel insurance. Cover is active on trips that begin and end in Australia and was paid for using the card. More detailed conditions are described on the American Express website. Includes medical emergency expenses cover, transport accident cover, up to $10,000 cover for loss or damage to baggage, money, or documents, plus travel inconvenience cover up to $200 if your flight is delayed.
- Concierge services. The American Express Velocity Platinum Credit Card comes with two passes for the Virgin Australia Lounge network each year. Additionally, you get two passes for The Centurion® Lounge at Sydney and Melbourne airports each year.
- Free flight. Get a complimentary free domestic flight each year. Available on flights between selected cities in Australia.
- Insurances. Items purchased with the card are covered by purchase protection, refund protection, and fraud protection guarantee.
- Sign-up bonus. American Express offers 100,000 bonus Velocity Points when you apply by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. Available to new Amex Card Members only.
- Status credits. Get 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on your card within a year of getting it.
Rates and fees
- Annual fee. The annual fee for this card is $375 p.a.
- Balance transfers. There is no balance transfer offer available on this card at this time.
- Foreign exchange fee. Purchases made in a foreign currency, for example, while travelling overseas or when shopping online, will attract a 3% fee. All fees will be charged in Australian dollars.
- Interest-free period. The American Express Velocity Platinum Credit Card has up to 55 days interest-free on purchases. There is no interest-free period when you carry a balance over from the previous statement period.
- Purchases. With no introductory offer on purchases currently available, all purchases made with the American Express Velocity Platinum Credit Card will attract an interest of 23.99% p.a.
Reviewed by Nilooka Dissanayake
Writer
User reviews
Convenience
Customer service
Rates and fees
Rewards
Trust
Perfect for domestic travel and online shopping
Reviewed by Tronsky14
While the $349 annual fee is on the high side, as a frequent traveller, the benefits more than make up for the fee. Living in Perth, I am able to treat myself to an annual flight to Sydney. It comes with two lounge passes, a perk normally reserved for Velocity Silver members and a decent travel insurance policy. In the internet connected world, ordering goods and services from online retailers will earn you two Velocity points per dollar. When travelling with Virgin Australia I earn 3 points per dollar, and when combined with the points from VA themselves you will net between 8 and 13 points per dollar, depending on your status level. The monthly bonus offers have proven to be worthwhile as well, as I have saved well over the annual fee on rebates from retailers I would normally use regardless.
It is true that American Express is not accepted everywhere, and that some places charge an additional fee, so this card is not the card for every situation, and you will have other cards at your disposal, but there are many situations where it does extremely well.
Overall I am happy that this card is a perfect match to my lifestyle and the rewards and bonus offers more than make up for the high annual fee.
I froth on this card
Reviewed by Zub Mombolor
This was an absolutely smashing offer. After analysing card upon card in the market, this offer exceeded all expectations. I have greatly benefited from this points offer! I purchased a flight to LA with this bad boy and I have used one of the airport lounge passes already. First class service.
I love it!
Great experience!
Reviewed by Stephanie
I loved maximising the platinum benefits of this card—great monthly partner offers, travel insurance, and an annual domestic flight free were the standouts. The card also gave free access to an international travel lounge at Sydney International, which we use quite a few times a year. All round, a great platinum AmEx offering for a low annual fee compared to other platinum cards on the market.
Well worth the annual fee
Reviewed by Ameng
The major draw was the 100,000 (or 80,000) Velocity points for signing up, and while some people might be put off by the $349 annual fee, this is balanced out by the 1 free domestic flight per anniversary year, 2 free domestic lounge entries, and 2 free AmEx Lounge entries at Sydney International airport. Add on the complimentary travel insurance (up to 60 days), 3 points per dollar booking Virgin flights, 2 points per dollar booking travel related items, plus 1 point per dollar for everyday purchases, and this card is very good value.
Small business supporter
Reviewed by Dominica
In the six months that I’ve had my AmEx card I have been extremely impressed with it. There are so many offers and benefits that it makes it very worthwhile. I would thoroughly recommend it to anyone who is eligible. I particularly like that they aim to support local small businesses and give users extra bonuses for shopping at these stores.
Great perks but high annual fee
Reviewed by Ryan
This card has good points earning potential, especially if you take advantage of a referral or sign-up bonus. The annual fee of $395 is quite high but it is offset by insurance, lounge passes and a return domestic flight each year.
This is my first year with the card and so far I am quite happy and will likely renew.
Free flight, insurance, referral bonus points
Reviewed by Ambarish
The best credit card I have used to date: free flight and so much insurance coverage, which allows me to shop online tension-free.
It rewards me with lots of Velocity points, which will help me with a lot of travelling. I also get bonus points for a referral. I love this card!
I mostly use Visa because AmEx is not accepted
Reviewed by Peter
I got this card for Velocity points and there is an annual fee. The worst thing is I mostly need to use my Visa card (which earns less points) because American Express can’t be used in a lot of places. Also some places charge an extra fee for American Express cards.
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