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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.

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 2.5 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 2 points per $1 spent with Virgin Australia and 1 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, 2 points per $1 for overseas purchases, and 1.5 point per $1 spent on other purchases. It also offers 0.5 points per $1 spent in utilities, telecommunication companies and government charges and includes a complimentary return domestic flight offer.
  • 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 utilities, insurance providers and 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

Rates last updated November 18th, 2017
Name Product Bonus Points Rewards Points per $ spent (AMEX) Balance transfer rate (p.a.) Annual fee Product Description
American Express Velocity Escape Card
1
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Earn uncapped Velocity points on purchases and redeem for a range of rewards including flights, accommodation, car hire and gift cards.
Qantas American Express Discovery Card
1
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Earn Qantas points that can be redeemed for a one way, return or multi-destination Classic Flight Reward on over 50 partner airlines.
American Express Explorer Credit Card
50,000 bonus points
2
0% p.a. for 12 months with 1% balance transfer fee
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
American Express Essential Credit Card
1
0% p.a. for 12 months with 3% balance transfer fee
$0 p.a.
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
Qantas American Express Ultimate Card
55,000 bonus points
1.5
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Take advantage of a high Qantas Points earn rate and two American Express Airport Lounge entries each calendar year.
Qantas American Express Premium Card
30,000 bonus points
1.25
0% p.a. for 12 months with 1% balance transfer fee
$249 p.a.
Enjoy two complimentary Qantas Club lounge invitations per year and the protection of complimentary travel insurance.
American Express Velocity Platinum Card
50,000 bonus points
1.5
0% p.a. for 12 months with 1% balance transfer fee
$375 p.a.
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
American Express Business Explorer Credit Card
100,000 bonus points
2
$395 p.a.
Earn 100,000 bonus points when you meet the requirement and 2 Membership Rewards points per $1 spent.
American Express Business Card
1
$109 p.a.
Consolidate your business expenses and extend your cashflow with up to 51 interest-free days on purchases.
American Express Platinum Edge Credit Card
1
0% p.a. for 12 months with 1% balance transfer fee
$195 p.a.
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
American Express Platinum Card
80,000 bonus points
1
$1,200 p.a.
Receive an annual $300 Platinum Travel Credit, membership to an elite tier of partner programs and access to more than 1,100 VIP lounges.
David Jones American Express
20,000 bonus points
1
$99 p.a.
Receive benefits through David Jones including complimentary standard delivery, gift wrapping and invites to exclusive fashion events.
David Jones American Express Platinum Card
40,000 bonus points
1
$295 p.a.
Receive invitations to exclusive Season Launch Parades and fashion events, complimentary priority delivery and personal shopping perks.
American Express Platinum Business Card
120,000 bonus points
1
$1,500 p.a.
Enjoy a platinum business concierge, complimentary Virgin Lounge access, worldwide travel insurance and luxury hotel benefits.
American Express Velocity Business Card
1
$249 p.a.
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.
American Express Gold Business Card
10,000 bonus points
1
$169 p.a.
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.
American Express Business Accelerator Credit Card
2
$160 p.a.
Receive up to 55 interest-free days on purchases, supplementary cards at no cost and data that feeds to MYOB accounting software.
American Express Qantas Corporate Green Card
0
$70 p.a.
Receive a discounted Qantas Club membership, entertainment invites, and insurance coverage for personal trips.
American Express Low Rate Credit Card
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Get up to 55 days interest-free on purchases, a 0% p.a. for 12 months balance transfer offer and global card support.
American Express Qantas Business Rewards Card
100,000 bonus points
1.25
$450 p.a.
Earn up to 2 Qantas Points per $1 spent on eligible purchases and enjoy up to 51 days interest-free on purchases.

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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 1:1. 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.

Comparison of American Express Membership Rewards Credit Cards

Rates last updated November 18th, 2017
Name Product Bonus Points Rewards Points per $ spent (AMEX) Balance transfer rate (p.a.) Annual fee Product Description
American Express Essential Credit Card
1
0% p.a. for 12 months with 3% balance transfer fee
$0 p.a.
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
American Express Platinum Edge Credit Card
1
0% p.a. for 12 months with 1% balance transfer fee
$195 p.a.
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
American Express Platinum Card
80,000 bonus points
1
$1,200 p.a.
Receive an annual $300 Platinum Travel Credit, membership to an elite tier of partner programs and access to more than 1,100 VIP lounges.
David Jones American Express
20,000 bonus points
1
$99 p.a.
Receive benefits through David Jones including complimentary standard delivery, gift wrapping and invites to exclusive fashion events.
American Express Gold Business Card
10,000 bonus points
1
$169 p.a.
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.
American Express Platinum Business Card
120,000 bonus points
1
$1,500 p.a.
Enjoy a platinum business concierge, complimentary Virgin Lounge access, worldwide travel insurance and luxury hotel benefits.
American Express Business Explorer Credit Card
100,000 bonus points
2
$395 p.a.
Earn 100,000 bonus points when you meet the requirement and 2 Membership Rewards points per $1 spent.
David Jones American Express Platinum Card - Qantas Frequent Flyer
30,000 bonus points
0.75
$295 p.a.
Fly faster with up to 3 Qantas Points per $1 spent and receive complimentary travel insurance when travel is booked on your card.

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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 you can transfer your points to, 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 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 3% of the total transaction and about 1% more than the surcharge applied for payments made with a Mastercard or Visa credit card.
    • 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.

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