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American Express Velocity Business Card

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Earn Velocity Points, enjoy interest-free days and save with complimentary insurance covers with the Amex Velocity Business Card.

Enjoy features including no pre-set spending limit, convenient expenditure tracking and complimentary insurance covers while earning Velocity points for your business spending.

1

Reward point

Per $ spent

$249 p.a.

Annual fee

51 days

Interest free period

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Details

Product NameAmerican Express Velocity Business Card
Rewards programVelocity Frequent Flyer
Purchase rateN/A
Annual fee$249
Interest-free period51 days
Card typeAmerican Express
Foreign currency conversion fee3%
Available to temporary residentsNo
Joint applicationNo

Pros

  • No pre-set spending limit and up to 51 days cash flow
  • 2 complimentary single entry passes to the Virgin Australia lounge every year
  • Up to 2 Velocity Points per $1 spent

Cons

  • Relatively high annual fee of $249
Rewards programVelocity Frequent Flyer
Rewards points per $ spent1
Rewards points capUncapped
Annual fee$249
Foreign currency conversion fee3%
Additional cardholder fee$99
Number of additional cardholders99

Expert review

Sally McMullen

Review by


Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

This is one of the few business cards that is directly linked with the Velocity Frequent Flyer program. If you regularly travel with Virgin Australia for business, you could earn more Velocity Points per $1 and travel in style thanks to the complimentary Virgin Australia lounge passes.

How to apply

You can apply for the American Express Velocity Business Card online in minutes and Amex will review your application in as little as 30 seconds. Before you get started, check that you meet the eligibility criteria and have the necessary information to complete the application.

Eligibility criteria

  • Business revenue. Your business must have an annual revenue of $75,000 or more.
  • Residency. You're an Australian citizen or permanent resident.

Card benefits

  • Earn Velocity Points. You'll earn 1 Velocity Point per $1 spent on eligible purchases with this card. When you use the card to make valid Virgin Australia purchases, you'll earn 2 Velocity Points per $1 spent and you can also earn 0.5 points per $1 spent on government transactions. Your Velocity Points are automatically transferred to your frequent flyer account each month and you can redeem them for flights with Virgin Australia and its partners, accommodation, products from the Velocity Store and much more.
  • Virgin Australia lounge passes. Travel in style with two complimentary single entry lounge passes to the Virgin Australia lounge at selected domestic airports every year. The perks will vary between lounges, but you can usually look forward to complimentary snacks, buffet meals and a full-stocked bar as well as work stations, desktop computers and high-speed Wi-Fi.

Rates & fees

  • Annual fee. This card charges a $249 p.a. annual fee.
  • Additional cardholders. You can request additional cardholders onto your account for a fee of $99 p.a.
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