Compare credit cards that earn Velocity Points on your everyday spending and get rewards faster.
A Velocity credit card rewards you with frequent flyer points for every $1 you spend on eligible purchases. You can also get thousands of bonus points and promotional 0% interest rates through introductory offers.
As well as earning points, some Velocity credit cards offer complimentary extras such as travel insurance, airport lounge access and concierge services. Use this guide to compare Velocity Frequent Flyer credit cards and find out more about them so that you can choose the best* frequent flyer credit card for you.
Receive up to 60,000 bonus Velocity Points
Offer ends 30 November 2017
Eligibility criteria, terms and conditions, fees and charges apply
Virgin Money Credit Card Offer
Earn up to 60,000 bonus Velocity Points when you make $1,500 of eligible transactions for the first 3 months (20,000 points per month). Plus, enjoy 0% p.a. for 18 months on balance transfers.
- $64 p.a. annual fee for the first year ($129 p.a. thereafter).
- 20.74% p.a. on purchases
- Cash advance rate of 20.99% p.a.
- Up to 44 days interest free
- Minimum income requirement of $35,000 p.a.
Velocity Frequent Flyer Credit Cards Comparison
G'day, I'm Angus Kidman from finder and I'm here to talk to you about frequent flyer credit card bonus points offers.
These are the offers that you see where it says "hey sign up for this credit card and we'll give you 100,000 bonus frequent flyer points" and that's a really tempting offer. You know, that many points could get you on a return trip to London.
And this can be a great way to top up your reward point balance but you do have to be aware of the traps. Now the biggest trap is this: very often these cards will have some kind of spend requirement where you have to spend a certain amount of money within a given period of time in order to qualify for the full set of points.
So let's say that I saw an offer that promised 50,000 Qantas Frequent Flyer Reward Points. Great I think, but then when I actually look at the conditions it turns out that I have to spend $5,000 on that card within the first three months in order to get those bonus points.
Now you probably could do that with your everyday spending, but there's something else you need to be aware of and that's that you can only spend on what are known as eligible transactions.
So normal regular purchases like groceries or petrol or Hawaiian shirts are totally covered by that but there are some things that aren't. Usually you'll find that payments to Bpay, payments to the ATO or cash advances will not be included as eligible transactions so make sure you're aware of what the rules are and what the time period is where you have to make those purchases.
Every single card is going to have a slightly different kind of offer so it's really important to understand all the details before you sign up for it.
Now if you compare frequent flyer credit cards at finder as well as showing you all those terms and conditions we'll also tell you about the key features of the card. Things like the annual fee and the interest rate on purchases, and that way you can pick a card that not only helps you maximise your points total but is also a great card for everyday spending.
How do Velocity Frequent Flyer credit cards work?
A Velocity Frequent Flyer credit card earns you Velocity Points for every $1 spent on eligible purchases. This includes most everyday purchases such as your supermarket shopping or petrol but usually excludes transactions such as cash advances, account fees and charges, BPAY payments, government charges, business transactions and gambling transactions.
The points you earn from spending with a Velocity credit card will be added to your Velocity account at regular intervals (usually monthly). Once you've earned enough Velocity Points, you can redeem them for a variety of rewards including flights and flight upgrades, accommodation and car rentals and a wide range of merchandise and gift cards.
How can I earn points with a Velocity credit card?
When you apply for a Velocity credit card, you will be asked to provide your frequent flyer membership details. If you don't already have Velocity Frequent Flyer account, you can sign up for free during this process. Once your Velocity reward credit card is approved and activated, you can start earning Velocity Points for your spending on the card.
The amount of points you get per $1 is referred to as the "earn rate" and varies between cards. Some cards also offer different earn rates based on the type of transactions you make. For example, a Velocity reward card could offer up to 2 Velocity Points per $1 spent with Virgin Australia and 1 point per $1 on all other eligible purchases.
Types of credit cards that earn Velocity points
When you're comparing Velocity credit cards, there are two main options to consider:
- Direct earn Velocity Frequent Flyer credit cards. These cards allow you to earn Velocity Points that are automatically transferred to your frequent flyer account. Currently, Virgin Money, American Express and NAB are the only card issuers on the Australian market that offer direct earn Velocity Frequent Flyer credit cards.
- Indirect earn Velocity rewards card options. Rather than earning points straight into your Velocity account, these cards give you the option of transferring points from a credit card rewards program into your Velocity account. You can also redeem points for other rewards with the credit card rewards program. Currently, American Express, Commonwealth Bank, Westpac, ANZ, HSBC, St.George, Bank of Melbourne, BankSA, Citi, Suncorp Bank, Card Services and Bank of Queensland all allow you to transfer credit card rewards points to Velocity Points.
There are also some indirect earning Velocity Frequent Flyer credit cards that come with both a Visa or Mastercard and an American Express card, such as the Westpac Altitude Black or the CommBank Business Awards Platinum. These dual or companion card accounts earn a different amount of points per $1 depending on if you use the Visa/Mastercard option or the Amex option.
Usually, the Amex card earns more points per $1, while the Visa or Mastercard has wider acceptance. This type of card can help you maximise your rewards based on when and where you use your card.
How to get bonus points with a Velocity credit card
Some Velocity Frequent Flyer credit cards offer bonus points if you're a new card member. These offers have specific requirements you need to meet before you can get the bonus Velocity Points. For example, you might have to successfully apply for the card and then spend $3,000 on eligible purchases within the first 3 months to receive 50,000 bonus Velocity Points.
How to compare Velocity Frequent Flyer credit cards
If you want a rewards credit card that earns Velocity Points, looking at these features will help you find one that suits your needs.
- Earn rate. This is the amount of points you'll earn per $1 spent. Looking at how much you're likely to spend on the card and the amount of Velocity Points that will earn you can help you figure out the value of the card. Remember to check if a different earn rate applies for certain types of transactions or dual card accounts so that you can maximise your rewards.
- Bonus points. If you're applying for a new Velocity rewards card, make sure you compare the bonus point offers available and what you need to do to get them. These offers can give you thousands of Velocity Points that add value to the card you choose. But remember to also look at the ongoing features of the card to decide if it's worth it.
- Annual fee. The value you get from the Velocity Points you earn on this type of credit card is offset by the annual fee you pay. Some introductory Velocity credit card offers may halve or waive the annual fee in the first year but it's also important to consider the standard annual fee.
- Interest rates. If you regularly carry a balance, make sure you know what the standard interest rate is. There's no point earning Velocity Points if the interest you're charged is worth more than the Velocity rewards you redeem.
- Interest-free days. Most credit cards offer up to a certain number of days interest-free if you pay off your balance in full by the due date on your statement. This feature can help keep credit card costs to a minimum but only if you fully repay the account each month.
- Complimentary travel insurance. If you have an overseas trip coming up, a credit card with complimentary travel insurance can help you save on costs. This perk is available on some Velocity credit cards, particularly more premium platinum options. The insurance usually covers you and your family for any medical expenses for illness and injury, lost or stolen luggage, legal liability and more. However, there are eligibility requirements, limits and exceptions involved, so make sure to read the terms and conditions before you apply.
- Exclusive flight offers. Some Velocity reward credit cards offer a complimentary domestic flight or flight voucher each year you have the card and meet the eligibility requirements. For example, the American Express Velocity Platinum offers a complimentary return domestic flight every year after your first card spend for that year. Similarly, the Virgin Flyer and High Flyer both offer a $129 Virgin Australia gift voucher every year when you make a retail purchase in the 2 months prior to requesting your voucher.
- Flying perks. Some Velocity credit cards also offer other flying perks, such as complimentary single entry passes to the Virgin Australia lounge or discounts on business class companion fares when you fly internationally with Virgin Australia. If you make use of these benefits, they can help offset the costs of the card.
Mistakes to avoid with Velocity Frequent Flyer credit cards
Here are a few things that you must keep in mind while using a Velocity credit card:
- Cash advances. These transactions, such as ATM cash withdrawals or foreign currency purchases, don't earn points and will accrue a fee and high cash advance interest immediately.
- Balance transfers. Balance transfers don't earn frequent flyer points and if you need to concentrate on paying down an existing debt, you probably shouldn't be using a rewards card that might tempt you to spend.
- High annual fees. Most frequent flyer credit cards come with high annual fees. Remember to make sure that the value of the rewards you'll earn will outweigh this cost.
- Capped points. Some frequent flyer credit cards have a cap on how many points you can earn. So if you reach a certain amount of points, you might earn a reduced rate or not be able to earn any more points. Based on how much you plan to spend, make sure it doesn't exceed the points cap or you could miss out on potential rewards value.
- Overspending. Make sure your frequent flyer card doesn't tempt you to spend just for the sake of earning more points. Remember that you have to repay everything you spend and the rewards won't be worth it if your balance starts collecting interest and you fall into debt.
How can I earn more points with a Velocity Frequent Flyer credit card?
A Velocity Frequent Flyer credit card gives you the opportunity to earn Velocity Points for everyday purchases. There are also strategies you can use to increase the number of points you earn as you spend.
- Shop with bonus points partners. Some frequent flyer reward cards offer bonus points for spending with specific partners. So depending on the Velocity rewards card you get, you may be able to earn bonus points when shopping with Virgin Australia and other partnered retailers. Make sure you know what bonuses are available to get more points for your money.
- Velocity membership status. The more you fly with Virgin Australia and it's eligible partners, the more Status Credits you'll earn. These credits help you reach a higher level of Velocity membership status. The higher your membership status, the more benefits you'll get, including bonus points, advanced seat selection on flights, priority boarding, Virgin airport lounge entry and more. You'll need 250 Status Credits to move from Red to Silver status, 500 for Gold and 1,000 for Platinum.
- Pay for big ticket items on your card. If you have some major purchases to make, use your credit card for these to maximise the points you earn. Just make sure you can pay off the purchases before interest is charged, otherwise the value of the rewards could be offset by the interest you collect.
- Take advantage of bonus points offers. Some credit cards come with bonus points offers on signup, meaning you can boost your Velocity Points balance early on. You'll usually need to meet some terms and conditions, such as applying before a certain date and spending a particular amount of money in the first few months you have the card, so make sure you understand what you need to do to qualify.
- Spend with Velocity partners. As a Velocity member, you can also earn points when you shop with the program’s partners, including BP service stations, Jetts Fitness, Virgin Mobile, Lumo energy and a wide range of retailers on the Velocity eStore. Use your Velocity credit card with these partners and you'll earn points twice: once through Velocity and once through your card.
How many points can I earn with a Velocity Frequent Flyer credit card?
If you want to work out if a Velocity credit card is right for you, a simple option is to calculate how many points you'll earn each month based on your regular monthly card spending. You can use the table below for some examples of how to estimate the points you'll earn each statement period.
|American Express Velocity Platinum Card||Virgin Australia Velocity High Flyer Card||NAB Velocity Rewards Card|
|Annual Fee||$375 p.a.||$289 p.a.||$95 p.a.|
|Points per $1 spent in Australia||1.5||Up to 1||0.5|
|Groceries – $500||750||500||375|
|Fuel – $200||300||200||150|
|Utilities – $150||225||150||112|
|Phone – $100||150||100||75|
|Entertainment – $450||675||450||337|
|Virgin Australia – $350||1,050 (purchases with Virgin Australian earn up to 3 Velocity Points)||350||262|
|Miscellaneous – $100||150||100||75|
|Total Velocity Points earned per month||3,300||1,850||1,386|
As you can see, the number of points you'll earn largely depends on the earn rate of the card and how much you spend each month on eligible purchases. The more you spend and the higher the earn rate, the more Velocity Points you'll earn with your Velocity Frequent Flyer credit card. When making these calculations, you should factor in whether you can afford to pay off the balance before the statement period ends (to avoid collecting interest) and whether the value of the rewards will outweigh the yearly costs of the card.
Family perks you can enjoy with a Velocity Frequent Flyer Credit Card
As a member of the Velocity program, you will also be able to take advantage of a range of family benefits. These could include:
- Additional cardholders. Velocity Frequent Flyer credit cards often allow you to include an additional cardholder on the account. This means your partner or other eligible family members would get their own card linked to the account to help maximise rewards, with all the Velocity Points going to your frequent flyer account. Note that you would still be responsible for all spending on the credit card account.
- Parental leave. If you are a Silver, Gold or Platinum Velocity member expecting a new baby, you can pause your membership for up to six months. You can then restart it without losing your membership status.
- Transferring points. If any of your relatives are enrolled in the Velocity program, you can transfer your points between members to help redeem points faster. See our guide on how to transfer your Velocity Points between family members for more information.
- Lounge access. If you have a higher tier Velocity Frequent Flyer credit card, you'll receive VIP airport lounge access for you and a guest. Gold and Platinum Velocity Frequent Flyers can bring additional guests and up to 2 children under 12 years old to the lounge, which could mean you and your family could wait for your flight in style before your next trip.
- Perks for Gold and Platinum members. If you're higher up the Velocity status tiers, you can take advantage of guaranteed Rewards Seats each year for family holidays. Gold members can redeem points for up to four return Rewards Seats for their family for any holiday destination in Australia. Platinum members can use their points for return Reward Seats for up to four family members to a selection of hundreds of international holiday locations.
Velocity Frequent Flyer may also add benefits for family members or run specials from time to time. You can compare more family benefits of the Velocity Frequent Flyer program with our guide. While Velocity Frequent Flyer credit cards can be a smart way to get more frequent flyer rewards from your everyday purchases, there are many options to choose from on the market. As they all come with different costs, earn rates and rewards potential, it's important to compare these Velocity credit cards and offers to make sure you will get the most value for your money before you apply.
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Frequently asked questions about Velocity credit cards
Want to know more about Velocity rewards credit cards? Here, you'll find answers to the most common questions about them. If you have a specific question that you want to ask about Velocity frequent flyer credit cards, you can also get in touch with us using the contact box below.
What is considered an eligible purchase on a Velocity frequent flyer credit card?
Most everyday purchases will earn points on your card. However, eligible purchases generally exclude cash advances, balance transfers, gambling transactions and government purchases. Check the terms and conditions of each Velocity rewards card you're comparing for specific details of when you will and won't earn Velocity Points.
How can I get Velocity Frequent Flyer bonus points with a credit card?
Velocity credit card offers can give you thousands of introductory bonus points when you first sign up for a card. To claim these points, you'll usually have to meet the following conditions:
- Be a new cardholder. You can only get signup bonus points on a Velocity credit card if you're not already a cardmember. Some credit card providers, such as American Express, also require that you don't have an existing credit card account with them and that you haven't held a credit card account with them in the recent past.
- Apply during the promotional period. Bonus point offers are usually only available for a limited time, so you'll have to apply before the offer's end date. This date is included in the fine print.
- Meet the spending requirement. Velocity Frequent Flyer credit cards that offer bonus points usually require you to spend a specific amount of money on the card in the first few months you have it. For example, a card might offer you a bonus 50,000 Velocity Points when you spend $5,000 on eligible purchases in the first three months from when your card is approved.
When you're comparing Velocity rewards credit cards, make sure you check what you need to do to get the bonus Velocity Points. That way you can budget for this spending requirement, which will also help you get the most value out of the card you choose.
What is the best Velocity Frequent Flyer credit card?
With so many different Velocity credit cards available, there is no single "best" option on the market. Instead, you can find a card that suits your needs by comparing features such as the earn rate, annual fee, interest rates, complimentary extras and any introductory offers such as 0% interest rates or bonus Velocity Frequent Flyer point offers.
Can I earn Velocity Points for spending overseas?
Yes, if you use your Velocity Frequent Flyer credit card overseas or online with an international retailer, you'll be able to earn points for all your eligible purchases. Just be aware that credit cards usually apply a currency conversion fee worth 2-4% of each transaction made in a foreign currency, which will add your costs.
If you make a lot of purchases overseas, you may want to consider a frequent flyer credit card with no foreign transaction fee so you can earn rewards without this additional charge.
Can I earn Status Credits on a Velocity Frequent Flyer credit card?
This depends. Velocity Status Credits are designed to help you reach a higher membership level within the frequent flyer program. As such, the fastest way you can earn Status Credits is through eligible flights with Virgin Australia and other Velocity Frequent Flyer partners. However, sometimes a Velocity frequent flyer credit card may offer Status Credits when you meet specific spending requirements. The American Express Velocity Platinum, for example, offers 100 Status Credits when you spend $50,000 in your Card Membership year.
The only other way to earn Status Credits is through the flybuys rewards program, which offers 1 Status Credit per $100 spent at Coles, Coles online, Liquorland or First Choice Liquor. To earn Status Credits in this way, you need to link your Velocity Frequent Flyer account to your flybuys account and then scan your flybuys card when you spend $100 or more at these stores.
How long are Velocity points valid?
Can you claim missing Velocity point?
Yes. You can use the claim form on the Velocity website to file a claim for missing Velocity Points. All you have to is log into your account and select Claim Missing Points. You will have up to six months to claim your points with Virgin Australia, V Australia, Pacific Blue, Polynesian Blue and other partner flights. For accommodation, car hire and other partner companies, you only have three months to make your claim. Note that you may not be able to make claims for certain partner promotions if you have not given your Velocity number beforehand.
Will the Velocity program benefit my family?
Virgin Australia has added a number of family benefits for its frequent flyers. One such benefit is the ability to pool points together as a family to afford rewards earlier.