American Express Velocity Business Card

Enjoy a bonus 100,000 Velocity Points with a new American Express Velocity Business Card.

The American Express Velocity Business Card offers no pre-set spending limit and convenient expense-tracking features, including MYOB integration. If you're new to American Express, you'll earn a bonus 100,000 Velocity Points when you apply by 30 June 2021 and spend $3,000 in the first 2 months of card membership.

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100,000

Bonus points

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 periodUp to 51 days on purchases
Card typeAmerican Express
Foreign currency conversion fee3%
Available to temporary residentsNo
Joint applicationNo

Pros

  • 100,000 bonus Velocity Points
  • Up to 2 Velocity Points per $1 spent
  • 2 complimentary single entry passes to the Virgin Australia lounge per year

Cons

  • Relatively high annual fee of $249
  • Charges a 3% foreign transaction fee
  • American Express is not as widely accepted as Mastercard or Visa
Rewards programVelocity Frequent Flyer
Bonus points100,000
Rewards points per $ spent1
Rewards points capUncapped
Annual fee$249
Foreign currency conversion fee3%
Additional cardholder fee$99
Number of additional cardholders99
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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 a return business class flight between Sydney and Perth (from 71,000 points). If you want to save up points for your next trip overseas, they'd also get you a one-way business class flight between Sydney and Los Angeles (from 95,500 Velocity Points).

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 100,000 bonus points.

Card benefits

  • 100,000 bonus Velocity Points. Boost your frequent flyer points balance and status with this offer when you apply by 30 June 2021 and spend $3,000 in the first 2 months. The bonus 100,000 Velocity Points will be awarded within 8-10 weeks of meeting the eligible spending criteria. This offer is only available to new card members who have not held an American Express card in the past 18 months.
  • Velocity Points per $1 spent. 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.

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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