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 2.25 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.
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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 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.
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* 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.