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American Express Velocity Platinum Card

A frequent flyer credit card offer with 100,000 bonus Velocity Points if you’re a new card member.

The American Express Velocity Platinum Card gives you a way to earn 100,000 bonus Velocity Points when you apply as a new Amex card member, get approved and spend $3,000 in the first 3 months from card approval.

With this premium card, you'll also earn up to 2.25 Velocity Points per $1 spent, complimentary lounge passes and a return domestic Virgin Australia flight – with an annual fee of $375.

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Amy Bradney-George

Last Updated May 24, 2021

100,000

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 p.a.	20.74%
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

100,000 bonus Velocity Points
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	100,000
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

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The American Express Velocity Platinum is suited to people who want to earn more Velocity Points and status with a credit card – and is one of the only ones that offers bonus Status Credits when you meet a spend requirement. On top of that, this card's 100,000 bonus points offer would give you enough points for return premium economy flights between Sydney and Singapore (89,400 points plus fees) or $450 worth of Coles Group & Myer gift cards (98,100 for nine $50 gift cards).

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 $65,000 or more.
New cardholder. To be eligible for the 100,000 bonus Velocity 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

100,000 bonus Velocity Points. You'll be rewarded with 100,000 bonus Velocity Points when you apply for a new card, are approved and 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 bonus points will be awarded to your account within 8-10 weeks after meeting the spend requirement.
Velocity Frequent Flyer Status Credits per year. 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, you can get 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 card refund cover if you've refused a refund on an unused eligible item within 90 days of purchase and card purchase cover 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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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 a membership rewards program. You can check our article about credit card earning points for ATO payments for more details.
  
  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
Novie
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

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American Express Velocity Platinum Card