American Express Velocity Escape Card

20.74% p.a.

0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

$0

Velocity Frequent Flyer

American Express Velocity Escape Card

20.74% p.a.

0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

$0

Velocity Frequent Flyer

Mozo Review   American Express Velocity Escape Card Review

Last updated: 21 October 2019.

What's hot:
  • 2019 Credit Card Provider of the Year

  • 0.75 Velocity Points per $1 on regular spends

  • 2019 Mozo Experts Choice Award winner

  • $0 annual fee

What's not:
  • 1% credit establishment fee for balances transferred

  • 20.74% purchase rate

Mozo snapshot:

The American Express Velocity Escape Card is all about giving you the rewards you want faster, so that you can escape sooner. It took out a Mozo Experts Choice Rewards Credit Card Award for best Velocity Frequent Flyer Credit Card in 2019. With a standard earning rate of 0.75 Velocity Points per $1 spent and the potential to double that on purchases with Virgin Australia, not to mention the $0 annual fee, this is a card that is truly rewarding.



Key features:
The American Express Velocity Escape Card has a $0 annual fee, as well as a high 20.74% interest rate but if you pay off your card in full each month you'll get 55 interest free days. 

With a balance transfer offer of 0% for 12 months you'll be able to move across any debt you have on an existing card, but bear in mind that the card also comes with a 1% credit establishment fee which is paid upfront. It's also important to remember that while you're paying off a balance transfer, you won't get any interest free days on new purchases - so try to avoid spending until you've paid down that debt!

You'll get the usual American Express perks like refund and purchase protection and access to American Express travel assistance no matter where you are in the world, but watch out for the 3% foreign currency margin if you do make any purchases overseas with the card.

When it comes to earning rewards points, you'll bag 0.75 Velocity Points per $1 spent (excluding spends with government bodies, where you'll only earn 0.5 points per $1).

This card is linked to the Velocity Frequent Flyer program and you'll earn an extra point per $1 spent when you use your card to purchase flights with Virgin Australia. Points never expire so you can save them up for a big escape or use them for weekend escape essentials like car hire or hotels.

Who it's good for:

Anyone who wants to get great value for their rewards spend and wants to fly with Virgin or its partner airlines. It comes with a free supplementary card so the Velocity Escape card is particularly good for couples who want to combine their points earnings to get rewards fast.

Any catches?

You'll need to be earning over $40,000 to be eligible for the Velocity Escape card.

Rewards program details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

119,600 points

Fly Sydney to Melbourne one-way

7,800 points

$100 Giftcard

21,800 points

$100 Cash

-

Points earning

0.75 points per dollar on Amex, uncapped

Rewards scheme

Points automatically transferred to your Velocity account

Flights available with Virgin, Air New Zealand, Etihad Airways, Singapore Airlines and other partners.

Earn 0.5 Velocity Points per $1 spent at government bodies, earn 1.75 Velocity Points per $1 spend on selected Virgin Australia products and services.

Value of rewards points

Spend $29,067 (AmEx)

Spend $10,400 (AmEx)

Spend $159,467 (AmEx)

Uncapped

Never

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 20.74% p.a.

  • none

  • 0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

  • no

  • none

  • 55

Fees
  • $0.00

  • none

  • none

  • none

  • $30.00

  • none

  • 3.00%

  • $10.00

  • $7.00

  • $0.00

Features
  • $30.00

  • 2.5

  • up to 4

  • The maximum balance transfer that can be approved is $10,000 or 70% of approved credit limit, whichever is less. If you pay your Balance Transfer over time, an interest-free period will not apply to your purchases.

Payment options

Apple Pay, Google Pay, Samsung Pay

Rewards privileges

Purchase Protection,
Account alerts by SMS

Customer Reviews

How are American Express credit cards rated by the Mozo community?

Overall customer rating
6.6/10
Price
5.5/10
Features
6.8/10
Customer service
6.8/10
Convenience
5.8/10
Trust
7.0/10

Latest reviews of American Express Velocity Escape Card

  • Overall
    5/10
    Not accepted anywhere and often adds a fee for me.

    It's not accepted anywhere and often adds a fee for me to use that card. There are no branches,...

    It's not accepted anywhere and often adds a fee for me to use that card. There are no branches, only over the phone and internet banking.

    Price
    6/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    2/10
    Trust
    4/10

    Melissa | New South Wales

    reviewed 4 days ago

  • Overall
    3/10
    Too hard to Internet check acc

    Too complex.

    Too complex.

    Price
    3/10
    Features
    3/10
    Customer service
    4/10
    Convenience
    3/10
    Trust
    3/10

    Emma | Queensland

    reviewed over 4 years ago

  • Overall
    1/10
    Customer service is terrible

    I have been a member for a very long time however this doesn't seem to make any difference with...

    I have been a member for a very long time however this doesn't seem to make any difference with American Express. They treat you like a number or worse if you fall accidentally behind in a payment, their rewards program is not good value & the customer service is terrible.

    Price
    2/10
    Features
    3/10
    Customer service
    1/10
    Convenience
    4/10
    Trust
    3/10

    Name not supplied | New South Wales

    reviewed over 6 years ago

  • Overall
    7/10
    Meets my needs - good customer service

    This credit card meets my needs - rewards system could be better but then again could be worse -...

    This credit card meets my needs - rewards system could be better but then again could be worse - customer service good.

    Price
    10/10
    Features
    5/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    7/10

    Romaine | Victoria

    reviewed over 6 years ago

  • Overall
    2/10
    A bit unreliable as to who accepts these cards

    I just opened a credit card account with AMEX after spending about an hour on the phone working...

    I just opened a credit card account with AMEX after spending about an hour on the phone working out confusing issues with the card. The first shop I tried to use it in told me that they don't accept these cards. This makes me a bit nervous when shopping. The next shop accepted it though, so I have to look at it as a bit of a hit and miss kind of card. They do offer a lot of options for you like SMS and email alerts for just about anything to do with the card, like reaching set limits and reminders, I think that's pretty good.

    Price
    2/10
    Features
    5/10
    Customer service
    4/10
    Convenience
    2/10
    Trust
    2/10

    Gary | New South Wales

    reviewed over 6 years ago

American Express

About American Express

American Express is a global mega provider of credit cards, including gold cards, platinum cards, charge cards and more. With American Express, you can find a credit card to suit your lifestyle, tastes and aspirations. If you're a rewards points junkie, be sure to check out the hugely popular American Express rewards programs, including Qantas Frequent Flyer points and Qantas Club rewards.

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