American Express are offering new cardholders the chance to earn 50,000 Velocity Points when taking out a new American Express Velocity Platinum card.
This card comes with the unique feature of offering the chance of gaining 100 Velocity Status credits every year. Cardholders that spend $50,000 in a membership year will earn themselves 100 Velocity Status Credits.
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 American 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 comes with an annual fee of $375, however this is offset by the inclusions that come with the card.
The card offers a high earning rate. You will earn
- 1.25 Velocity Points per dollar on eligible purchases, except at government bodies in Australia
- 0.5 Velocity Points per dollar at government bodies in Australia
- An additional 1.0 Velocity Point per dollar on selected Virgin Australia spend
Annual Return Domestic Flight
With the Velocity Platinum card, you can redeem a free domestic return flight with Virgin Australia between selected cities each cardholder year. This benefit becomes available after your first spend each year.
While there are a range options available, the flights vary by departure city. American Express have published a handy interactive map that you can view to see the options from your departure city.
This benefit alone could more than cover the cost of the annual fee for the card.
Earn 100 Velocity Status Credits when you spend $50,000 annually
This is probably the cards big X-Factor. Attain elite status with Virgin Australia faster by receiving 100 status credits when you reach $50,000 of eligible spend in a card membership year.
Eligible spend is all spend by you and additional card members – it does exclude some items such as cash like purchases (such as travellers’ cheques and foreign currencies), and interest, fees and charges on the account.
Relax with four airport lounge entries each year
Each year, the card offers two entries passes to both the Virgin Australia lounges and the American Express lounges in Sydney or Melbourne International Airport. All up, this will give you four airport lounge entries,
Each card membership year, two passes to a Virgin Australia lounge are made available. These passes are linked to your Velocity membership card, so you will need to present your Velocity card at the entry to the lounge.
Each calendar year you will have two entry passes to the American Express Lounge at Sydney Airport international or Melbourne Airport international. To take advantage of this offer, you simply present your Amex card.
Card Feature Summary
|Card Name||American Express Velocity Platinum Card|
|Interest Rate||20.74% p.a. interest rate on purchases|
|Interest Free Period||Up to 55 days|
|Loyalty program||Velocity Frequent Flyer|
|Points earn rate(Cap/Tier)||Uncapped|
|Foreign Transaction Fee||3%|
|Additional Card Fee||$0|