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American Express Velocity Platinum Card
Earn 50,000 bonus Velocity Points, up to 2.25 points per $1 spent and 100 Status Credits.
The American Express Velocity Platinum Card is a premium frequent flyer credit card 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.
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 | Up to 55 days on purchases |
| 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 |
Expert review
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally 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.
