Velocity Frequent Flyer

American Express Velocity Platinum Card – can now earn 100 Status Credits

American Express are offering holders of the American Express Velocity Platinum Card an opportunity to earn 100 Status Credits every year. Under the new ongoing offer, cardholders that spend $50,000 in a membership year will earn themselves 100 Velocity Status Credits.

American Express are also offering a sign up bonus of 50,000 Velocity Points.

Sign Up Bonus

In order to be in line for the 50,000 points, you will need to meet a few conditions:

  • Not held a directly issues Amerian Express card in the last 18 months. Having held an American Express companion card issued by one of the big four banks does not prevent you from taking part in this offer.
  • Be approved, and
  • Achieve eligible spend totalling at least $3,000 in the first three months

American Express Velocity Platinum card details

The American Express Velocity Platinum card is available to approved individuals that have incomes of more than $65,000 per annum. It does come with a rather hefty price tag, commanding a $375 annual fee.

Fortunately, the annual fee is largely offset by the inclusions that come with the card. First up, it provides a free return domestic Virgin Australia flight once a year.

On top of that, it comes with two free entry passes each year to Virgin Australia’s domestic lounges. In addition, a further two free visits to the American Express lounge at either Sydney or Melbourne Airport when flying overseas is available.

On the points earning front, the card offers

  • 1.5 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent
  • 1 additional Velocity Point per $1 spent with Virgin Australia

Card feature Summary

Card Features
Basic Details
Card Name American Express Velocity Platinum Card
Annual fee $375
Interest Rate 20.74% p.a. interest rate on purchases
Interest Free Period Up to 55 days
Point Earning
Loyalty program Velocity Frequent Flyer
Points Earning
  • Earn 1.5 Velocity Points for every $1 spent on eligible purchases, except at Government Bodies
  • Earn 0.5 Velocity Points for every $1 spent on eligible purchases at Government Bodies
 

Bonus Points

  • Earn an additional 1.0 Velocity Points for every $1 spent on eligible purchases with Virgin Australia
Points earn rate(Cap/Tier) Uncapped
Other Benefits
Travel benefits
  • Complimentary domestic return flight with Virgin Australia to selected cities, each
  • Two complimentary Virgin Australia lounge passes each year
  • Up to two entries per year to the American Express Lounge at Sydney or Melbourne International Airports
Included Protections
  • Medical Emergency Expenses Cover
  • Domestic and international travel insurance
  • Buyer’s Advantage
  • Purchase Protection
  • Refund Protection
Other Fees/Charges
Foreign Transaction Fee  3%
Supplementary Card Fee $0

Further information is available on the American Express website.

About the author

Mark B