Compare Velocity credit cards that offer up to 200,000 bonus points, rewards for your everyday spending and a range of complimentary extras.
Receive 70,000 bonus Velocity points
Offer ends 26 September 2018
Eligibility criteria, terms and conditions, fees and charges apply
Exclusive to finder.com.au - American Express Credit Card Offer
Exclusive to finder, collect 70,000 bonus Velocity Points when you meet the spend requirement. Plus, receive a complimentary Virgin Australia domestic return flight and lounge passes.
- $375 p.a. annual fee.
- 20.74% p.a. on purchases
- 0% p.a. for 12 months with 1% BT fee on balance transfers
- Up to 55 days interest free
- Minimum income requirement of $65,000 p.a.
How do Velocity Frequent Flyer credit cards work?
Velocity credit cards offer you frequent flyer points for every $1 you spend on eligible purchases. Some cards also earn bank reward points that you can transfer to Velocity Points. With a Velocity Frequent Flyer credit card, you can also get thousands of bonus points and save with introductory 0% interest rates when you sign up for a card with a promotional offer.
Depending on the Velocity Frequent Flyer 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 find out more about them so that you can choose the best frequent flyer credit card for you.
The finder.com.au best* credit cards to earn Velocity Points
Compare the bonus point offers and earn rates on these Velocity Frequent Flyer credit cards.
- Virgin Australia Velocity High Flyer Card - Bonus Points offer. Enjoy a 80,000 bonus points offer and earn up to 1 point per $1 spent on eligible purchases.
- American Express Velocity Platinum Card - Exclusive Offer. Earn an exclusive bonus points offer of 70,000 Velocity Points when you meet the spend requirements and enjoy an earn rate of up to 2.5 points per $1 spent.
- ANZ Rewards Travel Adventures card. This card has a bonus 40,000 Velocity Points offer and earns up to 1.5 ANZ Rewards points per $1 that you can convert to Velocity Points at a rate of 2:1.
- Virgin Australia Velocity Flyer - Bonus points offer. Earn up to 60,000 bonus points in the first 3 months when you meet spending requirements, plus up to 0.66 Velocity Points per $1 spent on everyday purchases.
How can I earn points with a Velocity credit card?
To start earning Velocity Points with a credit card, you need to add your Velocity Frequent Flyer membership details to your credit card account. Often, you'll be asked for these details when you apply. But if you have a credit card that earns reward points you can transfer to Velocity, you will need to add your frequent flyer details to your rewards account before transferring the points. You can also call your credit card company and provide these details over the phone.
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. The points you earn through your credit card are then added to your Velocity account at regular intervals, usually once a month or at the end of each statement period.
Will I earn points for all my spending?
While most everyday purchases you make on a Velocity credit card will earn you points, there are some transactions that won't be eligible for rewards. Usually this includes cash advances, account fees and charges, BPAY payments, government charges, business transactions and gambling transactions.
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 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 number of points you'll earn per $1 spent. Looking at how much you're likely to spend on the card and the number 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 you can use to redeem flights or other rewards. As well as the size of the bonus points offer, make sure to consider the spend requirement you'll need to meet to get the points. You should 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 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 rewards you redeem. If you do often carry a balance from month to month, you might want to consider a card with a low interest rate instead.
- Interest-free days. Most Velocity 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 balance each month.
- 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.
- 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 a Velocity Frequent Flyer credit card
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?
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.
Velocity Points hack: Get higher membership status
The higher your Velocity membership status is, the more benefits you'll get, including bonus points, advanced seat selection on flights, priority boarding, Virgin Australia airport lounge entry and more. You can reach a higher membership level by earning Status Credits when you fly with Virgin Australia and its partners. You can also earn Status Credits through the Coles flybuys program. You'll need 250 Status Credits to move from Red to Silver status, 500 for Gold and 1,000 for Platinum.
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|
|Annual Fee||$375 p.a.||$289 p.a.|
|Points per $1 spent in Australia||1.5||Up to 1|
|Groceries – $500||750||500|
|Fuel – $200||300||200|
|Utilities – $150||225||150|
|Phone – $100||150||100|
|Entertainment – $450||675||450|
|Virgin Australia – $350||1,050 (purchases with Virgin Australian earn up to 3 Velocity Points)||350|
|Miscellaneous – $100||150||100|
|Total Velocity Points earned per month||3,300||1,850|
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're a Silver Velocity Frequent Flyer, you'll get two single-entry passes for Virgin Australia lounges in Australia. Gold or Platinum Velocity Frequent Flyers can also 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. Plus, some premium Velocity Frequent Flyer credit cards offer airport lounge access that may cover you and a guest.
- Reward perks for Gold and Platinum members. If you're higher up in 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, as well as for upgrades on international flights.
The Virgin Australia Velocity Frequent Flyer program 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.
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.
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.
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