Velocity Platinum Card card image

American Express Velocity Platinum Card

Advertiser disclosure
Purchase rate
23.99% p.a.
Balance transfer rate
No current offer
Annual fees
$375
Interest free days on purchases
55
Go to site

Mozo editorial review American Express Velocity Platinum Card - last updated: 8 February 2024

binocular icon
What's hot
  • Earn up to 100,000 bonus Velocity Points (conditions apply)
  • Up to 2.25 Velocity points per $1 spent
  • 2023 Mozo Experts Choice Award winner
What's not
  • $375 annual card fee
  • 3% foreign exchange margin
Mozo snapshot

The Velocity Platinum Card is a 2023 Mozo Experts Choice Award winner for best Velocity Frequent Flyer Premium Credit Card. 

You'll also be able to earn a free return domestic flight every year (conditions apply) and you can now bag 100 Velocity Frequent Flyer Status Credits when you spend a minimum of $50,000 in a year.

New customers can also now receive 100,000 bonus Velocity Points when they apply online by 15 May 2024, are approved and spend $3,000 on eligible purchases on their card in the first 3 months. (T&Cs apply).

key icon
Key features

Building up your Velocity Points balance is easy when you use the tier based system attached to the 2022 Mozo Experts Choice Award winning AMEX 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. The best part is points never expire and there’s no cap on the amount you can earn.

You can also earn 100 Velocity Frequent Flyer Status Credits when you spend a minimum of $50,000 on eligible purchases within a year of becoming a member.

What's more, if you're a new Amex member cardholder you can earn up to 100,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. T&Cs apply. New Card Members only. 

Other benefits include free travel inconvenience insurance, card purchase cover and up to four complimentary lounge entries per year.


snapshot
Who is it 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 23.99% purchase rate.

question icon
Any catches

As well as having to fork out $375 for an annual card fee, you'll have to have a good credit rating to be eligible for the card (among some other requirements). There's also a $30 late fee that you should be aware of. 

Rewards program details

Rates and fees information correct as at 19 March 2024. 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

19,500 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 100,000 bonus Velocity Points when you apply online through the referral link by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. T&Cs apply. New card members only.

Value of rewards points

Spend $15,600 (Amex)

Spend $6,240 (Amex)

Spend $95,680 (Amex)

Uncapped

Never

How do we calculate these points?

Rate and fee details

Rates

23.99% p.a.

none

No current offer

no

none

55

Fees

$375.00

none

none

none

$30.00

2%, min $2.50

3.00%

$10.00

$7.00

$0.00

Features

$30.00

2.5

up to 4

none

Payment options

Apple Pay, Google Wallet, Samsung Pay

Rewards privileges

Account alerts by SMS,
Card Purchase Cover,
Travel Inconvenience Cover

Other benefits

Receive two Virgin Australia Lounge passes each anniversary year at selected domestic airports and two entries per year to the Centurion Lounge.

Customer Reviews

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

Overall
Price
Features
Customer service
Convenience
Trust

Latest reviews of American Express Velocity Platinum Card Credit Card

About American Express

Thumbnail icon for American Express
American Express

Qantas Discovery Card

23.99% p.a.

No current offer

$0

Thumbnail icon for American Express
American Express

Qantas Ultimate Card

23.99% p.a.

No current offer

$450

Thumbnail icon for American Express
American Express

Platinum Edge Credit Card

23.99% p.a.

No current offer

$195 $0 in the first year

Thumbnail icon for American Express
American Express

Velocity Escape Card

23.99% p.a.

No current offer

$0

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for American Express
American Express

Explorer Credit Card

23.99% p.a.

No current offer

$395

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

Thumbnail icon for American Express
American Express

Platinum Edge Credit Card

23.99% p.a.

No current offer

$195 $0 in the first year

Membership Rewards

Thumbnail icon for American Express
American Express

Qantas Ultimate Card

23.99% p.a.

No current offer

$450

Qantas Frequent Flyer

Thumbnail icon for American Express
American Express

Explorer Credit Card

23.99% p.a.

No current offer

$395

Membership Rewards

Thumbnail icon for G&C Mutual Bank
G&C Mutual Bank

Platinum Visa Credit Card

19.99% p.a.

No current offer

$299

Qantas Frequent Flyer

Thumbnail icon for American Express
American Express

Velocity Platinum Card

23.99% p.a.

No current offer

$375

Velocity Frequent Flyer

Thumbnail icon for American Express
American Express

Qantas Discovery Card

23.99% p.a.

No current offer

$0

Qantas Frequent Flyer

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for American Express
American Express

Qantas Ultimate Card

Qantas Frequent Flyer

$450

100,000

1.25 points up to 100,000 points/year, then
1 point uncapped

Thumbnail icon for NAB
NAB

Qantas Rewards Premium Card

Qantas Frequent Flyer

$250 $150 in the first year

70,000

0.66 points up to $3,000/month, then
0.33 points up to $6,000/month

Thumbnail icon for American Express
American Express

Qantas Premium Card

Qantas Frequent Flyer

$249

20,000

1 point uncapped

Thumbnail icon for NAB
NAB

Rewards Signature Card

NAB Rewards

$295 $145 in the first year

160,000

1.25 points uncapped

Thumbnail icon for American Express
American Express

Qantas Discovery Card

Qantas Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for American Express
American Express

Velocity Escape Card

Velocity Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for NAB
NAB

Qantas Rewards Signature Card

Qantas Frequent Flyer

$395 $295 in the first year

120,000

1 point up to $5,000/month, then
0.5 points up to $20,000/month

Thumbnail icon for Westpac
Westpac

Altitude Black

Altitude Rewards

$295 $150 in the first year

150,000

1.25 points uncapped

Thumbnail icon for NAB
NAB

Low Rate Card

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

13.49% p.a.

$59 $0 in the first year

Thumbnail icon for Citi
Citi

Premier Credit Card

0% p.a. for 6 months and then 22.24% p.a.

21.49% p.a.

$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year

Citi Rewards Program

Thumbnail icon for Bank of Queensland
Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months and then 21.74% p.a.

0% p.a. for 9 months then 20.74% p.a.

$60

Q Rewards

Thumbnail icon for Virgin Money
Virgin Money

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

0% p.a. for 24 months and then 20.99% p.a.

20.74% p.a.

$149 $0 in the first year

Velocity Frequent Flyer

Thumbnail icon for Bankwest
Bankwest

More Mastercard

0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)

19.99% p.a.

$100

Bankwest More Rewards

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for HSBC
HSBC

Low Rate Credit Card

12.99% p.a.

0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)

$99

Thumbnail icon for Australian Unity
Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

Thumbnail icon for MOVE Bank
MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

Thumbnail icon for G&C Mutual Bank
G&C Mutual Bank

Platinum Visa Credit Card

19.99% p.a.

No current offer

$299

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for HSBC
HSBC

Low Rate Credit Card

12.99% p.a.

0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)

$99

Thumbnail icon for Australian Unity
Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

Thumbnail icon for MOVE Bank
MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

Thumbnail icon for Citi
Citi

Premier Credit Card

21.49% p.a.

0% p.a. for 6 months and then 22.24% p.a.

$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year

Thumbnail icon for Bank of Queensland
Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months then 20.74% p.a.

0% p.a. for 9 months and then 21.74% p.a.

$60

Compare other credit cards