Velocity Platinum Card card image
Mini meca 2023

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: 17 May 2024

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What's hot
  • Earn up to 60,000 bonus Velocity Points (conditions apply)
  • Up to 2.25 Velocity points per $1 spent
What's not
  • $375 annual card fee
  • 3% foreign exchange margin
Mozo snapshot

With the Velocity Platinum 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 60,000 bonus Velocity Points when they apply online by 26 June 2024, are approved and spend $3,000 on eligible purchases on their card in the first 3 months. (T&Cs apply).

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Key features

Building up your Velocity Points balance can be easy when you use the tier based system attached to the 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 60,000 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. Available to new Card Members only. 

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


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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.

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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 23 June 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 60,000 bonus Velocity Points when you apply online through the referral link by 26 June 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. T&Cs apply. Available to new American Express 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

none

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
6.6/10
Price
5.5/10
Features
6.8/10
Customer service
6.7/10
Convenience
5.8/10
Trust
6.9/10
Based on 926 American Express credit card reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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