American Express Velocity Platinum Card
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
$375
Velocity Frequent Flyer
American Express Velocity Platinum Card
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
$375
Velocity Frequent Flyer
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
$375
Velocity Frequent Flyer
Mozo Review American Express Velocity Platinum Card Review
Last updated: 21 October 2019.
What's hot:
2019 Credit Card Provider of the Year
50,000 bonus Velocity points when you spend $3,000 in the first 3 months
1.25 Velocity points per $1 on regular spends
2019 Mozo Experts Choice Award winner
What's not:
$375 annual card fee
3% foreign exchange margin
Mozo snapshot:
There’s a lot going for the Velocity Platinum card from 2019 Mozo Experts Choice Credit Card Provider of the Year American Express. You’ll be able to score 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 per month in the first 3 months. You'll also be able to earn a free return domestic flight every year after your first annual spend and you can now bag 100 Velocity Frequent Flyer Status Credits, when you spend a minimum of $50,000 in a year.
The Velocity Platinum Card also took out a 2019 Mozo Experts Choice Award for best Velocity Frequent Flyer Premium Credit Card.
Key features:
Building up your Velocity Points balance is easy when you use the tier based system attached to AMEX’s Velocity Platinum Card to your advantage.
You can earn 1.25 Velocity Points per $1 spent. This excludes spends at government bodies, where you'll only earn 0.5 points per $1 spent. And when you're spending with Virgin Australia, you can also bag an extra point per $1 spent.
You can score 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 on your new card in the first 3 months. Just keep in mind, this offer is only available for new customers.
You can also bag 100 Velocity Frequent Flyer Status Credits, when you spend a minimum of $50,000 within a year of being a member.
And if you want to cash in your points with an airline, you don’t just have Virgin to choose from but Air New Zealand, Etihad Airways, Singapore Airlines and others too. The best part is points never expire and there’s no cap on the amount you can earn.
Benefits of the AMEX Velocity Platinum Card that we haven’t mentioned yet include free travel insurance, purchase protection and up to 4 complimentary lounge entries per year.
Who it's good for:
Rewards card lovers ready take advantage of the perks that the AMEX Velocity Platinum Card has to offer, while at the same time prepared to pay their bills in full and by the due date to avoid the hefty 20.74% purchase rate.
Any catches?
As well as having to fork out $375 for an annual card fee, you'll have to earn at least $65,000 a year and have a good credit rating to be eligible for the card. Plus, remember that the bonus point offer is only available to new cardholders.
Rewards program details
Rates and fees information correct as at 15 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
1.25 points per dollar on Amex, uncapped
Rewards scheme
Points automatically transferred to your Velocity account
Redeem Velocity points with Virgin, Air New Zealand, Etihad Airways, Singapore Airlines and other partners.
Earn 0.5 Velocity Points per $1 spent at government bodies, earn 2.25 Velocity Points per $1 spend on selected Virgin Australia products and services.
Complimentary Virgin Australia return domestic flight every year after first spend (not eligible for Velocity Points and/or Status Credits earn). Two single entry passes each year to selected Virgin Australia lounges. Two single entry lounge passes to American Express lounges in Australia annually.
Special offers
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months.
Value of rewards points
Spend $17,440 (AmEx)
Spend $6,240 (AmEx)
Spend $95,680 (AmEx)
Uncapped
Never
How do we calculate these points?
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.
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
-
$375.00
-
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
Travel Insurance,
Purchase Protection,
Account alerts by SMS
Customer Reviews
How are American Express credit cards rated by the Mozo community?
Latest reviews of American Express Velocity Platinum Card
- Overall7/10
Lots of points and great benefits
I'm really happy with Amex because I'm able to quickly accumulate enough points to buy flights...
Read full review
I'm really happy with Amex because I'm able to quickly accumulate enough points to buy flights and gift cards. They often have promotions for new customers, so I'd recommend holding out for one of those. The card I have allows you to have one free domestic flight every year which is a great bonus.
Price5/10Features9/10Customer service6/10Convenience7/10Trust9/10Less
Cass | Victoria
reviewed over 3 years ago
- Overall7/10
Very good service
The issue is that not many places accept the card in Australia . But I travel a lot
Read full review
The issue is that not many places accept the card in Australia . But I travel a lot
Price2/10Features7/10Customer service7/10Convenience7/10Trust10/10Less
Harry | Queensland
reviewed almost 4 years ago
- Overall10/10
Excellent promo offer, fantastic so far
Got this as part of the 100,000 Velocity points promotion. Exceptional value if you consider the...
Read full review
Got this as part of the 100,000 Velocity points promotion. Exceptional value if you consider the points alone, throw in free domestic flights annually and lounge passes makes this card a no brainer.
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Max | New South Wales
reviewed about 4 years ago
- Overall7/10
Lots of perks, best customer service
$349 annually, but came with 50,000 velocity points, free return domestic flight every year, free...
Read full review
$349 annually, but came with 50,000 velocity points, free return domestic flight every year, free travel insurance, 2 passes into virgin lounges = used everything up so pretty happy. Also comes with lots of frequent free perks such as spend $30 at Woolworth and get $10 cash back etc. Received the best customer service ever, all my questions were answered directly and within 24 hours, excellent.
Price5/10Features9/10Customer service10/10Convenience7/10Trust8/10Less
Tracey | South Australia
reviewed about 4 years ago
- Overall5/10
Good customer service if fraud is suspected
I do not feel that my bank is any different to any other. They are all as bad as one another as...
Read full review
I do not feel that my bank is any different to any other. They are all as bad as one another as far as interest rates and flexibility is concerned. My score would be much higher if the interest rates were not so high. Also there is little flexibility as far as payments are concerned and certainly little recognition for on time payments and loyalty.
Price0/10Features2/10Customer service8/10Convenience8/10Trust8/10Less
Julie | Victoria
reviewed almost 6 years ago
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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0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
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Qantas Ultimate Card
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0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
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0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
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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
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Explorer Credit Card
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
$395
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Citi
Rewards Platinum Credit Card (Balance Transfer)
0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)
21.49% p.a.
$199 $0 in the first year
Promoted
American Express
Qantas Ultimate Card
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
20.74% p.a.
$450
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Latitude
Low Rate Mastercard
No current offer
9.89% p.a.
$69
Promoted
Citi
Rewards Signature Credit Card
0% p.a. for 15 months and then 22.24% p.a. (1.00% balance transfer fee)
21.49% p.a.
$395 $199 in the first year
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Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0% p.a. for 6 months and then 20.99% p.a.
0% p.a. for 14 months then 20.74% p.a.
$129 $64 in the first year
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Latitude
28 Degrees Global Platinum Mastercard
No current offer
21.99% p.a.
$0
Promoted
Citi
Clear Platinum Credit Card
0% p.a. for 9 months and then 22.24% p.a.
0% p.a. for 9 months then 14.99% p.a.
$99 $0 in the first year
Promoted
Citi
Rewards Platinum Credit Card (Bonus Points)
1 point per dollar on Visa, up to $10,000 per month
21.49% p.a.
$149 $49 in the first year
Promoted
American Express
Qantas Ultimate Card
1.25 points per dollar on Amex, uncapped
20.74% p.a.
$450
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
20.74% p.a.
$129 $64 in the first year
Promoted
ANZ
Frequent Flyer Black
1 point per dollar on Visa, up to $7,500 per month, then
0.5 points per dollar on Visa, uncapped
20.24% p.a.
$425
Promoted
Citi
Rewards Platinum Credit Card (Balance Transfer)
1 point per dollar on Visa, up to $10,000 per month
21.49% p.a.
$199 $0 in the first year
Promoted
Suncorp
Clear Options Platinum
1.25 points per dollar on Visa, uncapped
20.74% p.a.
$129 $49 in the first year
Promoted
American Express
Velocity Escape Card
0.75 points per dollar on Amex, uncapped
20.74% p.a.
$0
Promoted
Heritage Bank
Platinum
0.002 points per dollar on Visa, uncapped
17.49% p.a.
$125 $0 when you spend over $35,000 p.a
Promoted
Citi
Rewards Platinum Credit Card (Balance Transfer)
0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)
$199 $0 in the first year
21.49% p.a.
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0% p.a. for 6 months and then 20.99% p.a.
$129 $64 in the first year
0% p.a. for 14 months then 20.74% p.a.
Promoted
Citi
Platinum Credit Card (Purchase Rate)
0% p.a. for 13 months and then 22.24% p.a. (1.00% balance transfer fee)
$149 $49 in the first year
0% p.a. for 13 months then 21.49% p.a.
Promoted
Suncorp
Clear Options Platinum
0% p.a. for 14 months and then 21.99% p.a.
$129 $49 in the first year
0% p.a. for 14 months then 20.74% p.a.
Promoted
American Express
Velocity Escape Card
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
$0
20.74% p.a.
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 22 months and then 20.99% p.a. (1.00% balance transfer fee)
$129 $64 in the first year
20.74% p.a.
Promoted
Citi
Rewards Platinum Credit Card (Bonus Points)
0% p.a. for 15 months and then 22.24% p.a. (1.00% balance transfer fee)
$149 $49 in the first year
21.49% p.a.
Promoted
Latitude
Low Rate Mastercard
9.89% p.a.
$69
No current offer
Promoted
Citi
Clear Platinum Credit Card
0% p.a. for 9 months then 14.99% p.a.
$99 $0 in the first year
0% p.a. for 9 months and then 22.24% p.a.
Promoted
Bankwest
Breeze Mastercard
9.90% p.a.
$79 $0 in the first year
0% p.a. for 6 months and then 9.90% p.a.
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0% p.a. for 14 months then 20.74% p.a.
$129 $64 in the first year
0% p.a. for 6 months and then 20.99% p.a.
Promoted
Bankwest
Breeze Platinum Mastercard
9.90% p.a.
$99 $0 in the first year
0% p.a. for 6 months and then 9.90% p.a.
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
$49 $0 in the first year
0% p.a. for 13 months and then 21.74% p.a.
Promoted
Latitude
Low Rate Mastercard
9.89% p.a.
No current offer
$69
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0% p.a. for 14 months then 20.74% p.a.
0% p.a. for 6 months and then 20.99% p.a.
$129 $64 in the first year
Promoted
Citi
Clear Platinum Credit Card
0% p.a. for 9 months then 14.99% p.a.
0% p.a. for 9 months and then 22.24% p.a.
$99 $0 in the first year
Promoted
Bankwest
Breeze Mastercard
9.90% p.a.
0% p.a. for 6 months and then 9.90% p.a.
$79 $0 in the first year
Promoted
Suncorp
Clear Options Platinum
0% p.a. for 14 months then 20.74% p.a.
0% p.a. for 14 months and then 21.99% p.a.
$129 $49 in the first year
Promoted
Bankwest
Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
