American Express Velocity Business Card

This Amex business card offers 75,000 bonus Velocity Points and Virgin Australia lounge passes, with a $249 annual fee.

The American Express Velocity Business Card offers no pre-set spending limit and convenient expense-tracking features, including MYOB integration. Right now, it also offers 75,000 bonus Velocity Points when you apply as a new Amex card member by 12 January 2022 and spend $3,000 in the first 2 months from card approval.

75,000

Bonus points

1

Reward point

Per $ spent

$249 p.a.

Annual fee

51 days

Interest free period

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameAmerican Express Velocity Business Card
Rewards programVelocity Frequent Flyer
Purchase rate0% p.a.
Annual fee$249
Interest-free periodUp to 51 days on purchases
Card typeAmerican Express
Foreign currency conversion fee3%
Available to temporary residentsNo
Joint applicationNo

Pros

  • 75,000 bonus Velocity Points
  • Up to 2 Velocity Points per $1 spent
  • 2 complimentary single entry passes to the Virgin Australia lounge per year
  • American Express AccessLine lets you pay merchants even if they don’t accept Amex directly

Cons

  • Relatively high annual fee of $249
  • Charges a 3% foreign transaction fee
  • Additional cards for employees attract a $99 annual fee per card
Rewards programVelocity Frequent Flyer
Bonus points75,000
Rewards points per $ spent1
Rewards points capUncapped
Annual fee$249
Foreign currency conversion fee3%
Additional cardholder fee$99
Number of additional cardholders99

Review by


Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

This is one of the few business cards that is directly linked with the Velocity Frequent Flyer program, giving you a way to earn Velocity Points per $1 spent even when you're not flying. The current bonus points offer sweetens the deal, giving you enough points for 2 return business class flights between Sydney and Melbourne (from 62,000 points) or a return business class flight from Brisbane to Perth (from 71,000 points), with points to spare.

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.
  • New card member. You must not hold or have previously held any card product issued by American Express Australia Limited in the proceeding 18-month period in order to receive the 75,000 bonus Velocity Points offer.

Card benefits

  • 75,000 bonus Velocity Points. You'll be rewarded with 75,000 bonus Velocity Points when you apply for a new card, are approved by 12 January 2022 and spend $3,000 or more on eligible purchases in the first 2 months from card approval. This offer is available to new card members, as well as bank-issued American Express companion cardholders. The bonus points will be awarded to your account within 8-10 weeks after meeting the spend requirement.
  • Velocity Points per $1 spent. You'll earn 1 Velocity Point per $1 spent on eligible purchases and 0.5 points per $1 on government transactions made with this card. You'll also earn 2 Velocity Points per $1 for eligible Virgin Australia purchases. 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.

Rates & fees

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