Velocity Platinum Card card image
Mini meca 2021

American Express Velocity Platinum Card

Advertiser disclosure
Purchase rate
20.74% p.a.
Balance transfer rate
No current offer
Annual fees
Interest free days on purchases
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Mozo editorial review American Express Velocity Platinum Card - last updated: 14 December 2021

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What's hot
  • Earn 100,000 bonus Velocity Points (conditions apply)
  • 1.25 Velocity points per $1 on regular spends
  • 2021 Mozo Experts Choice Award winner
What's not
  • $375 annual card fee
  • 3% foreign exchange margin
Mozo snapshot

The Velocity Platinum Card is a 2021 Mozo Experts Choice Award winner for Best Velocity Frequent Flyer Credit Card. New cardholders can receive 100,000 bonus Velocity Points when they apply online, are approved and spend $3,000 within the first three 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.

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Key features

Building up your Velocity Points balance is easy when you use the tier based system attached to the 2021 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 within a year of becoming a member.

What's more, if you're a new cardholder you can earn 100,000 bonus Velocity Points when you apply online, are approved, and spend at least $3,000 on your new card within the first three months. 

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

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 20.74% 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 earn at least $65,000 a year and have a good credit rating to be eligible for the card (among some other requirements).

Rewards program details

Rates and fees information correct as at 20 January 2022. 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, are approved and spend $3,000 on your new Card within the first 3 months. New Card Members Only

Value of rewards points

Spend $15,600 (AmEx)

Spend $6,240 (AmEx)

Spend $95,680 (AmEx)



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


20.74% p.a.


No current offer


















up to 4


Payment options

Apple Pay, Google Pay, Samsung Pay

Rewards privileges

Travel Insurance,
Purchase Protection,
Account alerts by SMS

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