American Express Velocity Gold Card – Rates and Fees

Information verified correct on December 10th, 2016

With the American Express Velocity Gold Card, you can get up to 15,000 Velocity Points on your first spend.

Important Information

The American Express Velocity Gold is no longer be available for new applications as this credit card is no longer available to new customers. The credit card cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.

If you would like to compare the current range of American Express credit cards: click here.

The American Express Velocity Gold Card rewards you for making purchases on your credit card through the Virgin Australia’s Velocity Reward Program. If you apply for the card and spend $500 or more on your card within the first 3 months, you can receive a bonus reward of up to 15,000 Velocity Points which you can redeem however you wish.

If the Velocity Gold Card isn’t right for you, American Express offers a range of other credit cards designed meet your varying needs.

American Express Velocity Gold Card Review

The American Express Velocity Gold Card is much more than just a generic credit card. The Velocity Gold Card provides you with plenty of rewards and incentives, going beyond a regular credit card. The card is designed to maximise your Velocity points and help you escape sooner and travel in style regularly. This is a competitive Velocity card, but you may also opt for the American Express Velocity Escape Card and the American Express Velocity Premium Card on offer.

Features of the American Express Velocity Gold Card

  • Annual fee. The American Express Velocity Gold Card has a regular annual fee of $199.
  • Rates. This card has an interest rate of 20.74% p.a. on purchases. Please note that American Express cards do not offer cash advances, so it is something you need to register for.
  • Interest-free period. The American Express Velocity Gold Card has an interest-free period of up to 44 days for purchases.
  • Rewards program. This card is a very rewarding credit card that allows you to reward yourself. When you use your Velocity Gold Card, you will receive 2.00 Velocity Points for every dollar spent on eligible purchases at Virgin Australia, as well as at major supermarkets and petrol stations in Australia. You will also earn 1.00 point for eligible card purchases on insurances offered by American Express, and on purchases with all other providers. If used as payment for utilities, other insurance companies, telecommunication providers, and Government bodies, you receive 0.50 points per dollar spent.
  • Maximum credit limit - The Velocity Gold Card has a maximum credit limit of $50,000.
  • Security features - American Express cards are secure, and you have the peace of mind knowing you are protected against fraudulent purchases.

Other Features

  • World class service. American Express provides you with world class service, including the ability to access and manage your account online, instant alerts, Gold Customer Service, refund protection, purchase protection, online fraud protection, and emergency card replacement.
  • Complimentary insurances. When you purchase travel on your American Express Velocity Gold Card, you will receive complimentary domestic and international travel insurance, as well as travel inconvenience cover. These provide you with the protection you need while travelling free of charge.
  • Rewards program. This card is linked to Virgin Australia's Velocity Rewards Program, and there's a range of lucrative rewards available for your selection to spoil yourself or someone special.

American Express Velocity Rewards Credit Card Comparison

How to apply for the American Express Velocity Gold Card

If the American Express Velocity Gold Card sounds like it could be a good card for you, you can apply online by following a few easy steps.

Application criteria

  • Applicant must be at least 18 years of age
  • Applicant is a permanent Australian resident or a holder of a Business Long Stay Visa
  • Applicant must be earning a personal annual income of $40,000 or more
  • Applicant must have good credit history
  • If you are self-employed, you must be trading for at least 18 months, or 12 months if you are a current American Express cardholder.

Required documents

  • Income details
  • Contact details
  • Driver's license
  • Velocity membership number (if you're already a member)

The American Express Velocity Gold Card is just one of the many rewarding credit cards available on the market. Start comparing credit cards today to find the one that's suitable for you.

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16 Responses to American Express Velocity Gold Card – Rates and Fees

  1. Default Gravatar
    Tony | September 13, 2015

    Is there a cap on how many points per month can be earned on velocity gold card

    • Staff
      Jonathan | September 14, 2015

      Hi Tony, thanks for your inquiry!

      The American Express Velocity Gold Card does not come with a points cap. Unfortunately this card is no longer available for new applications to new customers. If you would like to compare similar products from American Express, please visit this page. You may also like to compare Platinum & Gold credit cards on this page.

      I hope this has helped.

      Cheers,

      Jonathan

  2. Default Gravatar
    shirley | July 24, 2014

    which card gives me the most points per $ spend towards my velocity points

    • Staff
      Shirley | July 25, 2014

      Hi Shirley,

      Thanks for your question.

      Please see this page for a comparison of cards linked to the Velocity program.

      In the table on the far right you can see “Points per $ spent” – you can sort your cards through that function.

      Cheers,
      Shirley

  3. Default Gravatar
    Emma | January 15, 2013

    What at the foreign transaction fees for purchase made eg Thailand & ATM withdrawals (including cash advance fees?)

    • Staff
      Jacob | January 16, 2013

      Hi Emma. When you use your card to make a purchase you will be charged a foreign currency conversion fee. You will also be charged every time you use your card to withdraw money from an ATM – American Express do not allow cash advances, it’s something you have to register for, but if you’re using your own money loaded onto the card, there will be a local ATM operator fee, and there may also be a international ATM transaction charge from American Express. Please read the card’s product disclosure statement for a full list of applicable charges when your card is used overseas. Cheers.

  4. Default Gravatar
    Bruce | January 8, 2013

    To apply for this I have read that I cannot hold any other Amex card. I have a Commonwealth Bank Platinum Mastercard with a linked Amex card. Will this exempt me
    Thanks You can email or phone 0412 500 981

    • Staff
      Jacob | January 9, 2013

      Hi Bruce. You can still apply for this card, only the terms and conditions state that new applicants are eligible for a reduced annual fee and the 15,000 bonus points offer. Thanks for your question.

  5. Default Gravatar
    Michael | July 24, 2012

    When is the first year annual fee charged to the account. Is it on the second statement or at the end of 12 months. Cannot find any information about this. Thanks.

    • Staff
      Jacob | December 14, 2012

      Hi Michael. The annual fee is charged to the first statement, and then on the anniversary every statement after that. It will accrue at the purchase rate of interest if it’s not paid off that month. Cheers.

    • Default Gravatar
      Daniel | June 15, 2013

      Can you close the account after 11months before having to pay $200 for the next year with no charges?

    • Staff
      Jacob | June 16, 2013

      Hi Daniel. Thanks for your question. The annual fee is charged to the first statement period and every anniversary statement after that. Hope this helps. Jacob.

    • Default Gravatar
      Daniel | June 17, 2013

      I want to know if I get this card am I able to only have it for one year then terminate the account?

    • Staff
      Jacob | June 17, 2013

      Thanks for your question Daniel. You can cancel a credit card at any time provided that you’ve paid the card’s balance in full. It’s worth noting that the annual fee is charged to the first statement period. Hope this helps. Jacob.

  6. Default Gravatar
    Graeme | March 19, 2012

    Travel insurance for this card sounds good but what is covered and for what $ amounts

Credit Cards Comparison

Rates last updated December 10th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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