In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
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American Express Velocity Business Card

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American Express Velocity Business Card
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Terms and conditions apply
Bonus points
200,000
Reward point per $ spent
1
Annual fee
$249 p.a.
Interest-free on purchases
Up to 51 days

Our verdict

This Amex business card offers 200,000 bonus Velocity Points and Virgin Australia lounge passes, with a $249 annual fee.

The American Express Velocity Business Card offers up to 2 Velocity Points per $1 on eligible spending, cards for employees and no pre-set spending limit. If you’re a new Amex card member, you’ll also get 200,000 bonus Velocity Points when you apply by 15 May 2024 and spend $5,000 in the first 2 months from card approval. That’s enough for a return business class flight from Sydney to Los Angeles (191,000 Velocity Points, plus fees and taxes).

Pros

  • 200,000 bonus Velocity Points offer
  • Up to 2 Velocity Points per $1 spent
  • 2 complimentary single-entry passes to the Virgin Australia lounge per year
  • Complimentary 12-month gold membership offer

Cons

  • $249 annual fee for the account
  • $99 annual fee for each employee card
  • 3% foreign transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews

This is one of the few business cards that’s directly linked with Velocity Frequent Flyer, giving you a way to earn Velocity Points per $1 on eligible business spending, including ATO payments. As a charge card, there’s no interest rate and you get up to 51 days to pay for purchases in each statement period. It also offers automatic feeds for MYOB, Microsoft Excel and Quicken, as well as complimentary domestic and overseas travel insurance. Just make sure you weigh the value of points and perks against the card’s annual fee costs to decide if it’s right for your business.

Details

Product details

Product Name American Express Velocity Business Card
Purchase rate p.a. 0%
Interest-free period Up to 51 days on purchases
Card type American Express

Eligibility

Available to temporary residents No
Joint application No

Rewards

Rewards program Velocity Frequent Flyer
Bonus points 200,000
Rewards points per $ spent 1
Rewards points cap Uncapped

Fees

Annual fee $249
Foreign currency conversion fee 3%
Additional cardholder fee $99
Number of additional cardholders 99

How to apply

You can apply for the American Express Velocity Business Card online in minutes and Amex will review your application in as little as 30 seconds. Before you get started, check that you meet the eligibility criteria and have the necessary information to complete the application.

Eligibility criteria

  • Business revenue. Your business must have an annual revenue of $75,000 or more.
  • New card member. To be eligible for the introductory offer, you must not hold or have previously held any card product issued by American Express Australia Limited in the proceeding 18-month period in order to receive the 200,000 bonus Velocity Points offer.

Card benefits

  • 200,000 bonus Velocity Points. You'll get 200,000 bonus Velocity Points when you apply as a new card member by 15 May 2024 and spend $5,000 or more on eligible purchases in the first 2 months from card approval. The bonus points will be added to your account within 8-10 weeks of meeting the spend requirement.
  • Complimentary 12-month gold status offer. If you meet the bonus point spend requirements, you can also get a 12-month Velocity Frequent Flyer Gold Membership if you join Virgin Australia Business Flyer within the first 2 months of from approval and are eligible to be fast-tracked to Tier 2 of the loyalty program. You'll also be eligible if you're an existing Tier 1 Virgin Australia Business Flyer member and meet these requirements.

Rates & fees

  • Annual fee. This card charges a $249 p.a. annual fee.
  • Additional cardholders. You can request additional cardholders for your account for a fee of $99 p.a. per card.

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