American Express Velocity Platinum Card

Last updated: Oct 2, 2020

Earn 50,000 bonus Velocity Points, up to 2.25 points per $1 spent and 100 Status Credits.

Designed with travellers in mind, the American Express Velocity Platinum Card is a premium frequent flyer product that earns up to 2.25 Velocity Points per $1 spent. You can also collect 50,000 bonus Velocity Points when you spend $3,000 within the first 3 months from card approval.

Terms and conditions apply

Find out more Go to site

50,000

Bonus points

20.74% p.a.

Purchase rate

1.25

Reward points

Per $ spent

$375 p.a.

Annual fee

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Details

Product Name	American Express Velocity Platinum Card
Rewards program	Velocity Frequent Flyer
Purchase rate	20.74% p.a.
Annual fee	$375
Interest-free period	55 days
Min credit limit	$3,000
Max credit limit	$50,000
Card type	American Express
Foreign currency conversion fee	3%

Minimum income	$65,000
Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

50,000 bonus Velocity Points when you spend $3,000 within the first 3 months
Up to 2.25 points per $1 spent, uncapped
Additional cardholder at $0
100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 within the membership year
Complimentary Virgin Australia return Economy domestic flight each anniversary year

Cons

Relatively high annual fee of $375
Charges a 3% foreign transaction fee

Rewards program	Velocity Frequent Flyer
Bonus points	50,000
Rewards points per $ spent	1.25
Rewards points cap	Uncapped

Annual fee	$375
Minimum monthly repayment	2.5% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Additional cardholder fee	$0
Number of additional cardholders	4

Go to American Express's site More info

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

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

The American Express Velocity Platinum Card is suited to Velocity Frequent Flyers who want to reward their spending with bonus points and extra perks.

The number of points you’ll earn per $1 is also competitive compared to other Velocity frequent flyer cards. However, it charges a high annual fee, so you need to make sure that the value outweighs the costs. You can do this by taking advantage of the extra features like the domestic return flight, complimentary lounge access and travel insurance.

Keep in mind that while this card offers a return domestic Virgin Australia flight every year, there are other cards that offer Virgin Australia travel vouchers as well. However, this is one of the few cards that rewards cardholders with Velocity Status Credits.

How to apply

If you meet the eligibility requirements and have the key documents and details on hand, you can apply for the American Express Velocity Platinum card online in around 10 minutes.

Eligibility criteria

Minimum income. You must have a personal gross (pre-tax) annual income of $50,000 or more.
New cardholder. To be eligible for the bonus points offer, you must not hold or have held an American Express credit card in the last 18 months.

Residency. You must be an Australian citizen, permanent resident or hold a current long term visa (12 months or more). Student visas are not eligible.
Credit history. Applicants are required to have a good credit score, with no history of bad debt or payment default. If you don't know your credit score or what's on your file, you can get a free copy of your credit report through Finder.
Age. You must be at least 18 years of age.

Required documents

Personal details. You'll need to provide personal details such as your full name and address.
Identification. You'll need to provide proof of identity such as your driver's licence or birth certificate.
Proof of income. You'll be asked to provide proof of income and employment (such as recent pay slips).

Go to American Express's site More info

Card benefits

50,000 bonus Velocity Points. You'll be rewarded with 50,000 bonus Velocity Points when you spend $3,000 or more on eligible purchases within the first 3 months from card approval. This offer is available to new card members, as well as bank-issued American Express companion cardholders. The points will be awarded to your account within 8-10 weeks after meeting the spend requirement.
Velocity Frequent Flyer Status Credits. Receive 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases within the membership year. You can use Status Credits to climb the Velocity tiers to enjoy bonus points, lounge passes and travel perks like extra baggage and priority check-in.

Rewards program. This card earns 1.25 Velocity Points per $1 spent on everyday purchases, except on transactions with government bodies in Australia, where you earn 0.5 points per $1 spent. It also offers 1 additional Velocity Point per $1 spent on selected Virgin Australia purchases. Velocity Points don't expire as long as you earn or redeem points at least once every 24 months.
Complimentary domestic return flight. After your first card spend each year, the card offers a complimentary domestic return flight between select cities with Virgin Australia.
Complimentary lounge access. This card offers two single entry passes to Virgin Australia lounges each year that can be used at selected domestic airports. You'll also receive two complimentary entries to the American Express Lounge at Sydney International Airport or Melbourne International Airport per year.
Complimentary travel insurance. If you pay for eligible travel on your card, you can take advantage of complimentary domestic and international travel insurance for your trip.
Purchase insurances. This card offers complimentary Refund Protection if you've refused a refund on an unused eligible item within 90 days of purchase and Purchase Protection for eligible items if they are accidentally broken or stolen within 90 days of purchase.
Mobile payment technology. Whether you have an Android, Apple or Samsung device, you can save time at the cash register and pay with the convenience of your smartphone with Google Pay, Apple Pay or Samsung Pay.

Rates & fees

Annual fee. This card charges an annual fee of $375.
Purchase interest rate. Purchases attract a 20.74% p.a. interest rate.

Interest-free days. If you pay your balance in full by the due date on each statement, you can get up to 55 days interest-free on purchases.
Maximum credit limit. This card has a generous credit limit of up to $50,000.
Additional cards. You can request an additional card for a partner or family member at no extra cost. This allows you to share your account and maximise rewards. Note that you will still be responsible for keeping the account in good standing.

Go to American Express's site More info

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Ask a question

102 Comments

robert
August 3, 2019

Can you get frequent Flyer points paying your tax on American express card

Reply
- finder Customer Care
  
  Faye
  August 8, 2019
  
  Hi Robert,
  
  Thanks for contacting Finder.
  
  Yes. Most American Express credit cards offer 0.5 points per $1 for ATO payments, either through a frequent flyer program or through the Membership Rewards program.
  
  More information from this page.
  
  Kind Regards,
  Faye
  
  Reply
Helen
July 10, 2019

I have a David Jones AMEX card. Is the offer of AMEX Velocity Platinum Card with 100000 bonus points available to me?

Reply
- finder Customer Care
  
  Joshua
  July 11, 2019
  
  Hi Helen,
  
  Thanks for getting in touch with Finder. I hope all is well with you. 😃
  
  That’s an interesting question, Helen. You can do a lot of things with 100,000 bonus Velocity Points and it’s great to know more about how to earn them.
  
  Now regarding your question, I went to Amex’s website and it says this offer, the 100K bonus points, is only available for those new customers. Since you have a card that was issued by Amex, I’m afraid you won’t be eligible for the bonus points.
  
  Please note that the bonus points are available for people who didn’t or haven’t held any credit card issued by American Express in the previous 18 months.
  
  I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
  
  Have a wonderful day!
  
  Cheers,
  Joshua
  
  Reply
z28
October 29, 2018

I currently hold the Westpac Altitude Black Bundle (Westpac MC and Amex). Two questions:
1-Will I be eligible for bonus point from Amex ?
2-Will I earn Status Credit from the complimentary flight with Virgin ?
Thank

Reply
- Nikki
  October 29, 2018
  
  Hi z28,
  
  Thanks for reaching out!
  
  1-Will I be eligible for bonus point from Amex?
  
  Yes, previous and existing Amex companion cardholders are eligible for this offer.
  
  2-Will I earn Status Credit from the complimentary flight with Virgin?
  Status credits are earned only on purchased flights and not on complimentary flights.
  
  Hope this was helpful. Don’t hesitate to message us back if you have more questions.
  
  Cheers,
  Nikki
  
  Reply
Adrian
October 27, 2018

I presently have a commonwealth bank issued Amex/ MasterCard combo. If I sign up for the Amex express Velocity Platnum card will I be eligible to earn the 90,000 velocity points ?

Reply
- Nikki
  October 27, 2018
  
  Hi Adrian,
  
  Thanks for getting in touch.
  
  As it says on the American Express Velocity page, all existing AMEX members of partner banks are eligible for the 90k bonus offer.
  For more information, you may visit their website. As a friendly reminder, review the eligibility criteria of the card before applying. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the card.
  
  Hope this was helpful. Don’t hesitate to message us back if you have more questions.
  
  Cheers,
  Nikki
  
  Reply
Novianti
September 13, 2018

My husband previously held AMEX issued card but canceled it on 22 Feb 2017. He is now a secondary cardholder on my AMEX card. If he apply for the AMEX Velocity Platinum by 17 Sept , will he qualify for the 70k Velocity Bpnus points offer?

Regards.

Reply
- Joel
  September 13, 2018
  
  Hi Novie,
  
  Thanks for leaving a question on finder.
  
  Your husband will not be eligible for this offer. Unfortunately, card members who currently hold or who have previously held any card product issued by American Express Australia Limited in the preceding 18-month period are ineligible for this card’s offer.
  
  Cheers,
  Joel
  
  Reply
JT
September 10, 2018

What’s the definition of New Card Member?

Reply
- finder Customer Care
  
  Jeni
  September 10, 2018
  
  Hi JT,
  
  Thank you for getting in touch with finder.
  
  New card member is a credit cardholder who has recently approved for this card. Previous and existing bank-issued American Express companion cardholders are eligible for this 70,000 bonus Velocity Points offer (cards issued by ANZ, CommBank, NAB and Westpac) therefore they are also considered new card members if they are approved for this card. Card members who currently hold or who have previously held any card product issued by American Express Australia Limited in the preceding 18-month period are ineligible for this card’s offer.
  
  Please feel free to reach out to us if you have any other enquiries.
  
  Thank you and have a wonderful day!
  
  Cheers,
  Jeni
  
  Reply
Benjamin
March 19, 2018

I live in Darwin. Is Darwin included in the return flight for selected cities?

Reply
- Nikki
  March 26, 2018
  
  Hi Benjamin!
  
  Thanks for your message and for contacting finder.
  
  Darwin is not included in the list of return flights. You may check with the airline provider for more details.
  Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product/service that is rightfully fit for you.
  
  Should there be anything else you need help with, feel free to message us anytime.
  
  Thanks and best regards,
  
  Nikki
  
  Reply
Gill
August 28, 2017

I applied for an Amex Platinum card by 31/7/17. I have been charged the annual $375 and I believe that for this card the annual charge for the first year was waived? IS this not true.

Reply
- finder Customer Care
  
  Dee
  August 29, 2017
  
  Hi Gill,
  
  Thanks for your question.
  
  The annual fee for this card is $375 and it is not waived in the first year. This means that you’ll be charged with this amount on your first billing statement after card approval.
  
  Cheers,
  Anndy
  
  Reply
Ian
June 24, 2017

Hi,
You mentioned that the AMEX card rewards 1.5 points for each dollar on everyday purchases. However, AMEX website states that 0.5 Velocity points is earned for each dollar spent. Can you please advise?
Ian

Reply
- Jonathan
  June 25, 2017
  
  Hi Ian!
  
  As per AMEX website:
  
  Earn 1.5 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent
  
  Hope this clarifies,
  
  Cheers,
  Jonathan
  
  Reply
mike
June 17, 2017

I have a AMEX card issued by the Institute of Chartered Accountants (Platinum Edge Card). If I apply for this card, will I still be eligible for the 100,000 points?

Reply
- Jonathan
  June 17, 2017
  
  Hi Mike!
  
  Thanks for the comment.
  
  Eligibility for 100,000 is when you apply online by 31 July 2017, are approved and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members, as well as Bank- issued American Express companion cardholders.
  
  Hope this clarifies,
  
  Cheers,
  Jonathan
  
  Reply

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American Express Velocity Platinum Card