American Express Velocity Platinum Credit Card

On American Express' website

Apply by 31 May 2022

American Express Velocity Platinum Credit Card

Highlights

  • Receive 120,000 bonus Velocity Points when you apply by 31 May 2022, are approved, and spend $3,500 on your new Card within the first 3 months. Available to new 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

  • Receive 120,000 bonus Velocity Points when you meet the criteria.
  • 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.
  • 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.
  • Add up to 4 additional cardholders for free.

Cons

  • The interest rates applied to balances carried over is on the high end.
  • There is no balance transfer offer on this card.

Overview

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 were 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 exclusive American Express 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. Receive 120,000 bonus Velocity Points when you apply by 31 May 2022, are approved, and spend $3,500 on your new card within the first 3 months. Available to new 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 20.74% p.a.