In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

American Express Velocity Escape Card

  • Avatar
American Express Velocity Escape Card
Go to site
Terms and conditions apply
Purchase rate
23.99% p.a.
Reward points per $ spent
0.75
Annual fee
$0 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Offers a $0 annual fee and up to 1.75 Velocity Points per $1 spent, but doesn’t have a lot of other frequent flyer perks.

The American Express Velocity Escape gives you the rare combination of no annual fee and points per $1 spent. It earns 0.75 Velocity Points per $1 on most eligible purchases, which is competitive even among cards with annual fees. And the bonus 1 point per $1 for eligible Virgin Australia spending is great if you regularly fly with the airline. But the lack of a bonus points offer and perks like lounge passes could be a trade-off, especially compared to frequent flyer cards that charge an annual fee.

Pros

  • $0 annual fee
  • 0.5 to 1.75 Velocity Points per $1
  • Complimentary card purchase cover and card refund cover

Cons

  • 3% foreign transaction fee
  • Doesn’t offer travel perks like lounge passes or complimentary travel insurance

In this guide

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

The American Express Velocity Escape Credit Card is one of the few cards to offer frequent flyer points on your spending and no annual fee. It has a relatively high earn rate of 1.75 Velocity Points per $1 for eligible spending with Virgin Australia, but you'll earn 0.75 points per $1 on most everyday spending (and 0.5 points per $1 spent with government bodies). It also has a 23.99% p.a. interest rate for purchases that is at the higher end of the scale, but still similar to other frequent flyer cards.

Details

Product details

Product Name American Express Velocity Escape Card
Purchase rate p.a. 23.99%
Interest-free period Up to 55 days on purchases
Min credit limit $2,000
Card type American Express

Eligibility

Available to temporary residents Yes - Conditions apply
Minimum income $40,000
Joint application No

Rewards

Rewards program Velocity Frequent Flyer
Bonus points N/A
Rewards points per $ spent 0.75
Rewards points cap Uncapped

Fees

Annual fee $0
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

How to apply

You can apply for the American Express Velocity Escape card online in 10 minutes and receive a response within 60 seconds. Before you apply, check if you meet the eligibility criteria and have the necessary information to complete your application:

Eligibility criteria

  • Residency. You must be an Australian citizen, permanent resident or holder of a current long term visa (12 months or more, not including student visas) to be eligible to apply.
  • Credit history. You must have a good credit history with no history of bad debt or payment defaults. 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.

Card benefits

  • Uncapped Velocity Points. This card earns 0.75 points per $1 on most eligible spending, and 0.5 points per $1 for government transactions (such as on your ATO bill). You'll also earn 1 additional point per $1 spent on purchases with Virgin Australia, giving you a maximum earn rate of 1.75 points per $1 spent.
  • No annual fee. Save on standard credit card costs with $0 annual fee.

Rates & fees

  • Purchase rate. The Velocity Escape has a 23.99% p.a. interest rate for purchases.
  • Interest-free days. If you pay your account balance in full by the statement due date, you'll get up to 55 days interest-free on purchases.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Amy Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

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
Accept and continue

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 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Phark

July 13, 2023

Does This Card Allow Cash Advance Please? Thanks Very Much x


Avatar

Sarah Megginson Finder

July 14, 2023

Hi Phark, The American Express Velocity Escape Credit Card does not offer cash advances.


Avatar

Maleeha

June 26, 2023

I am interested in applying for the credit card but before I do that need clarification on the below 2 questions:

1. If I pay the amount within 55 days will there be any monthly fee?

2. Moreover, is there any card holding fee?


Avatar

Amy Bradney-George Finder

June 28, 2023

Hi Maleeha,

There is no monthly fee on this card. You’ll get up to 55 days interest-free on purchases in each statement period if you repay the total amount listed on each statement by the due date. You can learn more about how interest-free days work in Finder’s guide to avoid interest charges on your purchases.


This card has no annual fee and no “card holding fee” (not a common term in Australia). The other fees and charges that may apply in different situations are listed on this guide and on the American Express website. I hope this helps.


Show more Show less
Avatar

Charmaine

September 25, 2018

The one time 1% balance transfer fee, how does this work and why does this need to be done?


Avatar

John Basanes Finder

September 27, 2018

Hi Charmaine,


Thank you for leaving a question.


The 1% credit plan establishment fee applies to the balance which you transferred. This is debited during the time of the balance transfer. Hope this helps!


Cheers,

Reggie


Avatar

Lyn

December 09, 2016

Can you please advise how to redeem reward points in Amex.


Avatar

Jason Finder

December 09, 2016

Hi Lyn,


Thank you for your enquiry.


You may redeem your Velocity Reward from the American Express Velocity Escape Card by logging into your Velocity Rewards account and click on the redeem tab in the top menu.


Please read through our Velocity Frequent Flyer Program guide to know more about how to redeem your Velocity reward points.


I hope this helps,


Kind regards,

Jason


Show more Show less
Avatar

Lucie

October 24, 2016

How many points do you need to accumulate $100 value.

Thank you.


Avatar

May Finder

October 28, 2016

Hi Lucie,


Thank you for your question.


The American Express Velocity Escape Card lets you earn 2 Velocity Points for every dollar you spend with Virgin Australia and 1 Velocity point for every dollar you spend on other eligible purchases. The points you get do not have monetary value so we may not be able to compute the equivalent of points in dollars.


Cheers,

May


Show more Show less
Go to site