American Express Velocity Platinum Card
The American Express Velocity Platinum is no longer available.
Due to Virgin Australia going into voluntary administration, the American Express Velocity Platinum is not available for new applications. We've left the current review up for those who may already own this card. You can compare other American Express credit cards here.
50,000
Bonus points
20.74% p.a.
Purchase rate
1.25
Reward points
Per $ spent (American Express)
$375 p.a.
Annual fee
Details
| Product Name | American Express Velocity Platinum Card |
|---|---|
| Rewards program | Velocity Frequent Flyer |
| Purchase rate (p.a.) | 20.74% p.a. |
| Annual fee | $375 p.a. |
| Interest free period | 55 days |
| Min credit limit | $3,000 |
| Max credit limit | $50,000 |
| Card type | American Express |
| Foreign currency conversion fee (American Express) | 3% |
| Complimentary travel insurance | Yes |
| Minimum Income | $65,000 |
|---|---|
| Minimum age | 18 years of age |
| 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 bonus points |
| Rewards Points per $ spent (AMEX) | 1.25 |
| Rewards Points per $ Cap (American Express) | Uncapped |
| Annual fee | $375 p.a. |
|---|---|
| Minimum monthly repayment | 2.5% of the closing balance or $30, whichever is greater |
| Late payment fee | $30 |
| Foreign currency conversion fee (American Express) | 3% |
| Additional cardholder fee | $0 |
| Number of Additional Cardholders | 4 |
Expert review
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally 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.
