9.4

Finder Score

Excellent

Go to site

Terms and conditions apply

Bonus points: 60,000
Purchase rate: 23.99% p.a.
Reward points per $ spent: 1.25
Annual fee: $440 p.a.

Our verdict

Offers 60,000 bonus Velocity Points, annual Virgin Australia Lounge Access and up to 100 Velocity Frequent Flyer Status Credits per year, with a $440 annual fee.

Finder Awards 2025 winner

Customer Satisfaction Award

The American Express Velocity Platinum Credit Card is ideal for those looking to earn more Velocity Points. Currently, you can earn 60,000 bonus Velocity Points when you apply online as a new Amex card member, are approved and spend $3,000 on eligible purchases within the first 3 months from card approval (terms and conditions apply). You'll also earn 50 Velocity Status Credits when you spend $25,000 on eligible purchases each membership year, plus another 50 credits when you spend a further $25,000 in the same year. Additionally, you'll receive Virgin Australia Lounge Access every time you fly domestically with Virgin at selected domestic airports, and 2 complimentary Virgin Australia Guest Lounge Passes per year for guests you are flying with.

The Amex Velocity Platinum Card has a relatively high $440 annual fee. But if you take advantage of the bonus points offer and other benefits, like the complimentary return domestic Virgin Australia flight between selected cities (which is available after the first card spend each anniversary year of receiving your card) then you may feel the fee is worth it. The complimentary insurance covers (terms, conditions and exclusions apply, such as maximum age limits, pre-existing medical conditions and cover limits) and uncapped earn rates also add value if you use them. Just keep in mind that the 23.99% p.a. interest rate for purchases is higher than you'd get on a low rate card with fewer features and benefits.

Pros

60,000 bonus Velocity Points offer
Get 50 Velocity Status Credits per year when you spend at least $25,000 on eligible purchases each membership year, plus 50 credits if you spend a further $25,000 in that year.
Virgin Australia Lounge Access & Guest Lounge Passes at select domestic airports

Cons

Relatively high $440 annual fee
3% foreign transaction fee
The 23.99% p.a. interest rate for purchases is high among other credit cards in Australia

Who might the American Express Velocity Platinum be suited for?

You want to earn points fast. You’ll get 1.25 Velocity Points per $1 on everyday purchases - one of the highest earn rates for a Velocity card in our database. You can also earn up to 60,000 bonus points if you meet the spend criteria.
You travel with Virgin Australia. This card’s perks are built around Virgin Australia: you’ll get 2 single-entry Virgin Australia lounge passes each year, plus a free domestic return flight (between selected city pairs). These two benefits alone can easily cancel out the $440 annual fee, if you use them.
You’re planning a big trip or two. Book your travel with the card and you’ll be covered with complimentary international travel insurance and you’ll also earn up to 100 Velocity Status Credits per year - which helps you climb toward Silver or Gold Velocity status.
You always pay your balance in full. The interest rate is high at and only 1 rewards card in our database charges more. So like most premium rewards cards, this only makes sense if you’re paying your balance off in full each month and avoiding interest altogether.

You might want to skip it if...

You want a cheaper Velocity card. This isn’t the only game in town. The Virgin Money Velocity Flyer Card has a lower annual fee (from $64 p.a.) and still earns Velocity Points - just at a slower pace.
You don’t fly Virgin much. This card is built around the Virgin Australia ecosystem. If you often fly Qantas or other airlines, a Qantas card or flexible rewards card (like the Amex Explorer) may offer more bang for buck.
You carry a balance sometimes. With a 23.99% p.a. purchase rate, any unpaid debt will quickly eat into any rewards value. A low-rate card, like the G&C Mutual Bank Low Rate Visa (currently around 7.49% p.a.), will cost you less in interest.
You won’t use the perks. If you’re not taking advantage of the lounge access, flight credit or travel insurance, the $440 annual fee is hard to justify - especially when 148 other rewards cards in our database have a lower annual fee. A lower-tier rewards card could offer better value for your money.

Where could you fly with American Express Velocity Platinum's 60k bonus points?

Calculation doesn't include carrier charges, taxes, or fees. Calculation is based on Virgin Australia Reward Seat redemptions (Tier 3 pricing) for domestic flights; Singapore Airlines Reward Seat redemptions for Singapore; United Airlines Reward Seat redemptions for Los Angeles; Virgin/Qatar Reward seat redemptions for London.

Details

Product details

Product Name	American Express Velocity Platinum Card
Purchase rate p.a.	Purchase rate p.a.23.99%
Interest-free days	Up to 55 days on purchases
Min credit limit	$3,000
Card type	American Express

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Rewards program	Velocity Frequent Flyer
Bonus points	60,000
Rewards points per $ spent	1.25
Rewards points cap	Uncapped

Fees

Annual fee	$440
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

Congratulations, American Express!

The American Express Velocity Platinum Card was highly commended for Best Velocity Frequent Flyer Credit Card in the 2025 Finder Awards.

Full list of 2025 winners

How to apply

If you meet the eligibility requirements and have the key documents and details on hand, you can apply for the American Express Velocity Platinum card online.

Eligibility criteria

New Amex card member. To be eligible for the 60,000 bonus Velocity Points offer, you must not hold or have previously held an American Express card in the last 18 months. Other terms and conditions apply.
Residency. You must be an Australian citizen, permanent resident or hold a current long-term visa (12 months or more). Student visas are not eligible.

Credit history. You must have a good credit history and no 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.
Age. You must be at least 18 years of age.

Required documents

Personal details. You'll need to provide personal details such as your full name and address, plus details of your income, expenses and debts.
Identification. You'll need to provide proof of identity such as your driver's licence or birth certificate.

Go to American Express' site More info

Card benefits*

60,000 bonus Velocity Points. You'll earn 60,000 bonus Velocity Points when you apply online for the American Express Velocity Platinum Card as a new Amex card member, are approved and spend $3,000 on eligible purchases within the first 3 months from card approval (terms and conditions apply). The bonus points will be awarded to your account within 8-10 weeks of meeting the spend requirement.
Up to 100 Velocity Status Credits. This card offers 50 Velocity Frequent Flyer Status Credits when you spend $25,000 on eligible purchases within your membership year, and an additional 50 Status Credits when you spend another $25,000 within the same year (up to a total of 100 Status Credits). Higher status unlocks benefits including more points, lounge access, extra baggage and priority check-in. The Status Credits will be added to your Velocity account up to 2 weeks after you meet the spend requirement.

Virgin Australia Lounge Access. This card provides access to Virgin Australia domestic lounges for 12 months at select domestic airports. You will need to enrol in this benefit and then re-activate it each year by making an eligible transaction on your card. You'll need to re-activate each year on the anniversary of the benefit enrolment. Please allow up to 7 days for the benefit to be applied to the primary card member's Velocity membership.
Virgin Australia Guest Lounge Access. You can redeem 2 single-entry guest passes each membership year for friends or family who are traveling with you. These passes will be activated on the primary card member's Velocity Frequent Flyer membership account on or after each membership anniversary.
Velocity Points. This card earns a high rate of 1.25 Velocity Points per $1 on everyday purchases and 0.5 points per $1 for transactions with government bodies in Australia. It also offers 2.25 Velocity Points per $1 spent on selected Virgin Australia purchases. Velocity Points don't expire as long as you earn or redeem points at least once every 24 months.
Complimentary domestic return flight. After your first card spend each membership year, you can get a complimentary domestic return flight between select cities with Virgin Australia.
Complimentary travel insurance. If you pay for eligible travel on your card, you can take advantage of complimentary domestic and international travel insurance for your trip. Terms, conditions and exclusions apply (such as maximum age limits, pre-existing medical conditions and cover limits).
Retail insurances. This card offers complimentary Card Refund Cover if you've been refused a refund on an unused eligible item within 90 days of purchase and Card Purchase Cover for eligible items if they are accidentally broken or stolen within 90 days of purchase. Terms, conditions and exclusions apply.
Mobile payment technology. Whether you have an Android, Apple or Samsung device, you can save time at the cash register and pay with the convenience of your smartphone with Google Pay, Apple Pay or Samsung Pay.

Rates & fees

Annual fee. This card charges a $440 annual fee.
Purchase interest rate. Purchases attract a 23.99% p.a. interest rate.

Interest-free days. You'll get up to 55 days interest-free on purchases if you pay your closing balance in full by the due date on each monthly statement.
A maximum of 4 additional cards. You can request an additional card for a partner or family member at no extra cost. This allows you to share your account and maximise rewards. Note that you will still be responsible for keeping the account in good standing.
International transaction fee. A 3% fee applies for transactions made overseas or online in a foreign currency. So make sure you consider that when you're travelling or shopping online.

Go to American Express' site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Amy Finder

Journalist

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

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 Terms Of Service and Finder Group Privacy & Cookies Policy.

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

Sarina

October 28, 2025

Hi, I just wanted to check if international purchases count as eligible purchases?

Sarah Megginson Finder

October 29, 2025

Hi Sarina, Yes, international purchases generally count as eligible purchases with this card, but note that they are subject to a foreign transaction fee of 3%.

Grant

October 13, 2025

I’ve applied and have accepted on the 13th Oct. Do I still get the 100k bonus if I meet all other requirements from now?

Sarah Megginson Finder

October 14, 2025

Hi Grant, Currently, you can earn 100,000 bonus Velocity Points when you apply online as a new Amex card member by 14 October 2025. If you have applied and been approved on 13 October and you meet the other terms and conditions, then yes, you will be eligible for the 100,000 bonus points.

Jed

September 20, 2025

Hi,

Does the velocity platinum amex include complimentary rental car insurance?

Richard Whitten Finder

September 23, 2025

Hi Jed,

The policy doesn’t specify rental car insurance. You can see the full PDF here.

Laura D

March 01, 2025

When do you get the 100,000 velocity points please? Say we got the card now and did the minimum spend requirement how quickly would we be able to use the velocity points and can they be used internationally ? Thanks

Angus Kidman Finder

March 02, 2025

Hi Laura, Amex says you can expect to wait 8-10 weeks after meeting the spend requirement to receive the points. You can use them with Velocity’s partner airlines, which include Qatar, Singapore Airlines and United, amongst others.

Arjun

May 04, 2024

Hi Amy,

Two questions:

1. Can I spend the first $3000 on household expenses such as electrical appliances? And to meet that threshold, can I spend it on online shopping?

2. If I apply for the card today, and spend the first $3000 in the first day, when can I actually use the free return domestic flight? And what is the procedure to book it? I do a lot of traveling for work and some of it is upcoming soon, so this could well be worth.

Thanks for your help.

Show more Show less

Sarah Megginson Finder

May 30, 2024

hi Arjun,

Yes, you can spend the first $3000 on household expenses, including online shopping, to meet the eligibility requirements. Note that spending on online gambling usually does not qualify.

Once you apply for the card, you will need to allow time for your application to be processed then approved. You’ll access the free flight benefit after your first card spend, and then after your first card spend each year after the anniversary of your membership.

The flight has to be booked as a return with specific dates on both legs, you can’t book a one-way flight. Note that when you log into your Velocity account associated with your American Express Velocity Platinum credit card, if you have a valid free flight credit, it will progress to the booking page. If your flight has not yet been added to your account, an error will appear.

Hope this helps!

Show more Show less

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full profile

American Express Velocity Platinum Card

Pros

Cons

Where could you fly with American Express Velocity Platinum's 60k bonus points?

Congratulations, American Express!

How to apply

Eligibility criteria

Required documents

Card benefits*

Rates & fees

Sources

Sources

Your reviews

Important information about this website

Advertiser disclosure

How we make money

Sorting and ranking products

Terms of service and privacy policy