American Express Velocity Rewards Credit Card Comparison

Discover how you can earn Velocity rewards for your spending and get premium features with an American Express credit card.

Last updated:

American Express offers a range of Velocity Frequent Flyer credit cards, including no annual fee, platinum and business options. Here, we look at how you can get up to 2.25 Velocity Points for every $1 spent as well as other ways to rack up Velocity points with an Amex card. We also outline the key factors to consider so that you can decide if an American Express Velocity rewards credit card is right for you.

Which American Express credit cards earn Velocity frequent flyer points?

American Express has three cards that are directly linked to the Velocity rewards program:

  • American Express Velocity Escape. The American Express Velocity Escape is a no annual fee Velocity Frequent Flyer credit card with up to 55 interest-free days on purchases. It offers 1.75 points per $1 spent with Virgin Australia and 0.75 point per $1 spent on all other purchases.
  • American Express Velocity Platinum. This card offers additional 1 Velocity Point per $1 spent at restaurants in Australia and Virgin Australia, 1.25 points per $1 for overseas purchases, and 1.25 point per $1 spent on other purchases. It also offers 0.5 points per $1 spent in utilities, telecommunication companies and includes a complimentary return domestic flight offer and lounge passes.
  • American Express Velocity Business. Eligible business purchases using the American Express Velocity Business card are rewarded with 2 points per $1 spent with Virgin Australia, 1 point per $1 spent on purchases and 0.5 points per $1 spent on government bodies. You also get two complementary single-entry passes to the Virgin Australia lounge each year you have the account.

American Express Credit Cards Comparison

Updated December 9th, 2019
Name Product Bonus Points Rewards Points per $ spent (AMEX) Balance transfer rate Annual fee
0.75
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Earn uncapped Qantas Points on your purchases, pay $0 annual fee for life and take advantage of 0% p.a. for 12 months on balance transfers.
200,000 bonus points
2.25
$1,750 p.a.
Finder Exclusive for ABN holders w/ $75,000 revenue:
Get 200,000 bonus points, no pre-set spending limit, 55 days cash flow days, luxury travel perks and up to 2.25 points per eligible $1 spent.
0.75
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Earn uncapped Velocity Points on purchases and save with a $0 annual fee for life and a 0% p.a. for 12 months balance transfer offer.
50,000 bonus points
1.25
0% p.a. for 12 months with 1% balance transfer fee
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
55,000 bonus points
1.25
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Get 55,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations.
75,000 bonus points
1
$200 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Mastercard (issued by Westpac) & Amex (issued by Amex).
140,000 bonus points
3
$349 p.a. annual fee for the first year ($449 p.a. thereafter)
Up to 140,000 bonus Altitude Points with Mastercard (issued by Westpac) & Amex (issued & serviced by Amex). T&Cs apply.
80,000 bonus points
2.25
$1,450 p.a.
Get 80,000 bonus points, a $450 annual Platinum Travel Credit, dedicated personal service and luxury travel perks.
110,000 bonus points
2
$150 p.a. annual fee for the first year ($199 p.a. thereafter)
Collect up to 110,000 bonus Altitude Points when you meet T&Cs with Mastercard (issued by Westpac) & Amex (issued by Amex).
100,000 bonus points
1.25
$450 p.a.
ABN holders w/ $75,000 revenue. Get 100,000 bonus points, 3x points on eligible Qantas flights and 2 lounge passes.
50,000 bonus points
2
0% p.a. for 12 months with 1% balance transfer fee
$395 p.a.
Get 50,000 bonus points when you spend $3,000 in the first 3 months, a yearly $400 Travel Credit and 2 entries per year to the Amex Lounge.
30,000 bonus points
1
$295 p.a.
DJ's shoppers and Qantas travellers earn 30,000 bonus Membership Rewards points or 15,000 Qantas Points on eligible spend.
15,000 bonus points
1
$99 p.a.
Not just for David Jones shoppers, receive 15,000 bonus Membership Rewards points or 7,500 Qantas Points on eligible spend.

Compare up to 4 providers

Other options for earning Velocity points with an American Express credit card

If you have an American Express credit card enrolled in the Membership Rewards program, you also have the option of transferring rewards points to your Velocity Frequent Flyer account at a rate of 2:1 (for Business Ascent members the rate is 1.5:1). This option could give you more flexibility if you want to redeem other rewards, or if you are a member of several frequent flyer programs. It also allows you to consider a wider range of Amex cards to boost your Velocity points.

You can manually transfer points by logging into your Membership Rewards account and entering your Velocity member details. You can transfer a minimum of 2,000 points at a time and a transfer will take up to 3 business days.

There are also eight other airline loyalty programs to which you can transfer your points, including KrisFlyer, Emirates Skyward, Etihad Guest and Asia Miles. Other redemption options include merchandise and gifts such as televisions, electronics or purchases with David Jones and Ticketmaster.

Factors to consider

These factors should help inform your comparison of Velocity and American Express credit cards.

    • Annual fees. Some of these credit cards have high annual fees, so make sure the rewards you get will outweigh this expense. Alternatively, you may want to consider a no annual fee option such as the American Express Velocity Escape.
    • Points caps. While some Velocity credit cards limit the number of points you can earn in a year, American Express does not have caps on any of its direct-earn Velocity cards.
    • Interest rates. Frequent flyer credit cards have relatively high rates of interest. You can avoid purchase interest charges by taking advantage of the interest-free days available when you pay your balance in full by the statement due date. This strategy will help you get the most value from an American Express Velocity rewards credit card.
    • Card acceptance. American Express credit cards are accepted in fewer places than Visa and Mastercard. Compare companion credit cards so you can earn points for credit card spending in more places.
    • Surcharges. Businesses can charge more for transactions using American Express credit cards. While surcharge amounts vary, it is usually around 2.5% of the total transaction amount.
    • Complimentary extras. Amex cards often include value-adding features such as complimentary insurances, lounge access and complimentary flight offers, but these extras can add to the price of the credit card’s annual fee. Remember to weigh up the benefits versus the costs of each card based on your spending habits to decide if it is an affordable option for you.

American Express Velocity Rewards credit cards are designed to suit different spending habits and needs. Make sure you consider your own circumstances when comparing these options, and look at a range of other credit cards so that you can find a product that offers value as well as Velocity points.

Images: Shutterstock

Back to top
Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Credit Cards Comparison

Updated December 9th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
19.99% p.a.
0% p.a. for 18 months
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get 20,000 bonus Qantas Points per month for the first 6 months when you spend $1,500/month. Total of up to 120,000 bonus Qantas Points.
0% for 9 months, reverts to 14.99% p.a.
0% p.a. for 9 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.

Compare up to 4 providers

* 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.

Ask a question
Go to site