American Express Velocity Escape Card

Save with a $0 annual fee for life and earn up to 1.75 Velocity Points per $1 spent, uncapped.

The American Express Velocity Escape Credit Card gives you a way to earn uncapped Velocity Points without paying an annual fee. It offers a maximum earn rate of 1.75 points per $1 on spending with Virgin Australia and 0.75 points per $1 spent everywhere else, except for spend on government bodies in Australia which earns 0.5 points per $1 spent.

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Details

Product NameAmerican Express Velocity Escape Card
Rewards programVelocity Frequent Flyer
Purchase rate20.74% p.a.
Annual fee$0
Interest-free periodUp to 55 days on purchases
Min credit limit$2,000
Card typeAmerican Express
Foreign currency conversion fee3%
Minimum income$40,000
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • Ongoing $0 annual fee
  • Complimentary purchase and refund protection
  • Earn up to 1.75 Velocity Points per $1 spent on purchases made in Australia

Cons

  • Charges a 3% foreign transaction fee
Rewards programVelocity Frequent Flyer
Bonus pointsN/A
Rewards points per $ spent0.75
Rewards points capUncapped
Annual fee$0
Minimum monthly repayment2.5% of the closing balance or $30, whichever is greater
Late payment fee$30
Foreign currency conversion fee3%
Additional cardholder fee$0
Number of additional cardholders4

How to apply

You can apply for the American Express Velocity Escape card online in 10 minutes and receive a response within 60 seconds. Before you apply, check if you meet the eligibility criteria and have the necessary information to complete your application:

Eligibility criteria

  • Income. You must earn a pre-tax annual income of at least $40,000.
  • Residency. You must be an Australian citizen, permanent resident or holder of a current long term visa (12 months or more, not including student visas) to be eligible to apply.

Card benefits

  • Uncapped Velocity Points. Earn 0.75 points per $1 spent on eligible transactions and an additional 1 point per $1 spent on purchases with Virgin Australia. You will also collect 0.5 points per $1 spent on government transactions (such as your ATO bill).
  • No annual fee. Save on standard credit card costs with $0 annual fee for the life of the card.

Rates & fees

  • Purchase rate. The Velocity Escape charges a purchase rate of 20.74% p.a.
  • Interest-free days. Pay your account balance in full by the statement due date and you can get up to 55 days interest-free on purchases.
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Review by


Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The American Express Velocity Escape is the only no annual fee card that directly earns Velocity Points. The earn rate is competitive even when compared to cards that charge annual fees. However, the absence of a bonus points offer is the trade off for paying $0 annual fee.

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86 Comments

    Default Gravatar
    Charmaine
    September 25, 2018

    The one time 1% balance transfer fee, how does this work and why does this need to be done?

      Avatarfinder Customer Care
      John
      September 27, 2018

      Hi Charmaine,

      Thank you for leaving a question.

      The 1% credit plan establishment fee applies to the balance which you transferred. This is debited during the time of the balance transfer. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    Lyn
    December 9, 2016

    Can you please advise how to redeem reward points in Amex.

      Avatarfinder Customer Care
      Jason
      December 10, 2016

      Hi Lyn,

      Thank you for your enquiry.

      You may redeem your Velocity Reward from the American Express Velocity Escape Card by logging into your Velocity Rewards account and click on the redeem tab in the top menu.

      Please read through our Velocity Frequent Flyer Program guide to know more about how to redeem your Velocity reward points.

      I hope this helps,

      Kind regards,
      Jason

    Default Gravatar
    Lucie
    October 24, 2016

    How many points do you need to accumulate $100 value.
    Thank you.

      Avatarfinder Customer Care
      May
      October 28, 2016

      Hi Lucie,

      Thank you for your question.

      The American Express Velocity Escape Card lets you earn 2 Velocity Points for every dollar you spend with Virgin Australia and 1 Velocity point for every dollar you spend on other eligible purchases. The points you get do not have monetary value so we may not be able to compute the equivalent of points in dollars.

      Cheers,
      May

    Default Gravatar
    Gail
    October 23, 2016

    Hi I was just curious as to approximately how far the bonus 7,500 points would get me. Could I fly say from Brisbane to Honolulu or would it only be enough to get me to Sydney?

      Avatarfinder Customer Care
      Dee
      October 28, 2016

      Hi Gail,

      Thanks for your question.

      The number of points needed for a particular flight depends on your cabin class and destination.

      You could refer to the Velocity points table on their website to check how many points you will need for a particular flight.

      Cheers,
      Anndy

    Default Gravatar
    ayit
    September 6, 2016

    in the description it says earn 2 points for every $1 spent? but under “rewards program” it says 1 point per $1.. which one is it?

      Avatarfinder Customer Care
      Dee
      September 6, 2016

      Hi Ayit,

      Thanks for your question.

      With American Express Velocity Escape Card, you can earn up to 2 Velocity Points for every $1 spent when you use your card to pay for Virgin Australia tickets and 1 point for every $1 spent on other eligible purchases.

      Cheers,
      Anndy

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