Velocity Frequent Flyer Credit Cards Comparison
The best credit cards to earn Velocity Points
Compare some of the credit cards with the largest bonus Velocity Points offers available through finder:
How do Velocity Frequent Flyer credit cards work?
You can use a Velocity credit card to earn frequent flyer points for every $1 you spend on eligible purchases. While some cards directly earn Velocity Points, others earn bank reward points that you can transfer to your Velocity account. Many Velocity Frequent Flyer cards also boast thousands of bonus points on sign up, which is an easy way to boost your rewards when you meet the spend requirement.
Depending on the credit card you choose, you could also enjoy complimentary extras such as travel insurance, airport lounge access and concierge services. Use this guide to compare Velocity Frequent Flyer credit cards and learn more about them so that you can choose the best card for you.
How can I earn points with a Velocity credit card?
When you apply for a Velocity credit card, you'll be asked to link it to your frequent flyer account. You'll automatically earn Velocity Points as you make eligible purchases and they're usually credited to your account at the end of each statement period. If you have a credit card with a bank rewards program that's partnered with Velocity, usually you need to transfer your reward points to Velocity points through the card issuer's website.
The number 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.
What is an eligible purchase on a Velocity frequent flyer credit card?
You can earn Velocity Points on most everyday spending with your frequent flyer credit card. This could include grocery shopping, travel bookings and overseas spending. Eligible purchases usually exclude cash advances, balance transfers, gambling transactions and government purchases. When comparing Velocity cards, check the terms and conditions to confirm which transactions will and won't earn points.
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 ANZ are the only card issuers in Australia 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 allow you to transfer credit card rewards points to Velocity Points.
How to transfer your credit card rewards points to your Velocity account
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 number of points you'll earn per $1 spent. Generally, 1 Velocity Point per $1 is a competitive earn rate for a direct earn card. Some cards may also have reduced or capped earn rates. This means that after you meet a certain spend threshold each statement period, your points earn rate will either be lowered or capped until the next month. For example, you may earn 1 point per $1 up to $5,000 per statement period and then 0.5 points per $1 thereafter. You should make sure that this spend threshold is higher than your regularly monthly spend, otherwise you'll limit your points earning potential.
- Bonus points. Many Velocity credit cards entice new cardholders with big bonus points offers that can often range between 50,000 and 120,000 Velocity Points. You usually need to apply by an offer end date and meet a spend requirement (such as $3,000 on eligible purchases in the first 3 months) to earn the points. Bonus points can be a great way to give your points balance a boost, but make sure the spend criteria suits your budget before you apply.
- Annual fee. Although some Velocity Frequent Flyer cards charge $0 annual fees, others can range between $200 p.a. and $700 p.a. You can usually expect more competitive earn rates and extra features if a card has a high annual fee. Make sure you'll take advantage of the points and extra features to justify paying the annual fee before you apply.
- Interest rates. Frequent flyer credit cards often charge high purchase interest rates of around 20% p.a. If you regularly carry a balance between statement periods, the interest costs you'll accrue can easily outweigh the value of your Velocity Points. Instead, these cards are best suited to cardholders who regularly pay their account in full.
- Interest-free days. If you pay your balance in full by the statement due date, you can usually take advantage of up to 44 or 55 interest-free days.
- Complimentary travel insurance. If you have an overseas trip coming up, a Velocity credit card that offers complimentary travel insurance can help you save on the cost of buying cover outright. While complimentary credit card travel insurance conditions vary between providers, usually you and eligible family members travelling with you will get cover for medical expenses, lost or stolen luggage and legal liability. However, there are eligibility requirements, limits and exceptions involved, so make sure you 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 Virgin Australia return domestic flight every year after your first card spend for that year. Similarly, the Virgin Australia Velocity Flyer and High Flyer credit cards 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.
- Lounge passes. Many Velocity Frequent Flyer cards also offer complimentary single entry passes to Virgin Australia lounges, where you can enjoy complimentary food and beverages, high-speed Wi-Fi, dedicated check-in, bathrooms and shower facilities as well as meeting rooms and working spaces. If you have an American Express Velocity card, you may also receive passes to visit the American Express lounges at Sydney and Melbourne airport.
How can I earn more points with a Velocity Frequent Flyer credit card?
Here are some of the ways you could maximise the Velocity Points you earn with a frequent flyer credit card:
- Shop with bonus points partners. Some Velocity frequent flyer credit cards offer bonus points for spending with specific partners. For example, you may be able to earn bonus Velocity Points when shopping with Virgin Australia, another retail partner or when you spend money overseas. Make sure you know what bonuses are available so you can get more Velocity Points with your credit card.
- Pay for big ticket items on your card. Whether you're booking travel, buying furniture or going to a major event, paying with your Velocity credit card can help you earn more points for these big-ticket expenses. Just make sure you can pay off the purchases before interest is charged, otherwise the cost could outweigh the value of the Velocity Points you earned.
- Take advantage of bonus points offers. A wide range of Velocity credit cards offer bonus points when you first sign up for a card, which could help boost your frequent flyer balance. 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 spend with program partners such as Virgin Australia, Coles, BP service stations, Jetts Fitness, Virgin Mobile and a wide range of retailers on the Velocity eStore. If you use your Velocity credit card with these partners, you'll earn points twice: once through Velocity and once through your card. See our guide to earning Velocity Points to get started.
- Additional cardholders. Many Velocity Frequent Flyer credit cards allow you to link additional cardholders to the single account. All of the points earned on the additional card are pooled within the one Velocity account. This can be an easy way to boost your Velocity Points if you request an additional card for your partner or for employees if you're using a business card.
Score more perks with Velocity Status Credits
Occasionally, Velocity Frequent Flyer credit cards offer Status Credits when cardholders meet spend requirements. Outside of these promotional offers, you can also earn Status Credits on flights and with Coles flybuys. You'll also earn 1 Status Credit per $100 spent at Coles, Coles Online, Liquorland or First Choice Liquor when you've linked your flybuys card to your Velocity account.
Unlike points, you can use the Status Credits to ascend the Velocity membership tiers. You need 250 Status Credits to move from Red to Silver status, 500 for Gold and 1,000 for Platinum. The specific perks vary between the Status levels, but you can look forward to bonus earn rates and travel perks like priority boarding and check-in, Virgin Australia airport lounge passes, additional baggage allowances and more.
It's not common to find a Velocity credit card that also offers Status Credits, so this is considered a competitive extra feature.
How many points can I earn with a Velocity Frequent Flyer credit card?
The maximum number of Velocity Points you can earn with your credit card will depend on the card's bonus points offer and earn rate as well as how much you spend. While you're comparing Velocity Frequent Flyer credit cards, you can calculate how many points you'll earn each month based on these factors and your regular monthly card spend.
You can use the table below for some examples of how to estimate the points you'll earn each statement period.
|Card costs and monthly spend||American Express Velocity Platinum Card||Virgin Australia Velocity High Flyer Card|
|Annual Fee||$375 p.a.||$289 p.a.|
|Points per $1 spent on eligible purchases||1.25 points per $1 (0.5 points per $1 with government bodies in Australia).|
Plus 1 additional point per $1 for eligible Virgin Australia purchases.
|1 point per $1 up to 8,000 points per month, then 0.5 points per $1 for the remainder of that statement period.|
|Groceries – $500||625||500|
|Fuel – $200||250||200|
|Streaming/subscriptions – $40||50||40|
|Phone – $100||125||100|
|Dining out – $200||250||200|
|Virgin Australia – $500||1,125||500|
|Entertainment – $100||125||100|
|Total Velocity Points earned per month||2,550||1,640|
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.
Virgin Australia Velocity Frequent Flyer credit cards can be a smart way to get more frequent flyer rewards from your everyday purchases. With so many different costs, earn rates and other perks available, comparing a range of Velocity credit cards and offers will help you apply for one that suits your needs.
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