Get an extra 40,000 bonus Velocity Points: New credit card offer and how it works
Velocity is giving you a choice of 40,000 bonus points, Trial Gold Status or Travel Bank credit – on top of the bonus points offered by an eligible new credit card.
These exclusive benefits are available right now when you log in and choose one through the Velocity website. You then need to apply for one of the participating credit cards between 26 April and 31 May 2022, and meet that card's bonus point spend requirement.
Credit cards regularly offer introductory bonus points deals. The latest Velocity offer is unusual because it is offering extra points on top of those bonuses – but you do have to follow a very specific process to get them.
This includes choosing one of participating cards, with current offers from American Express, Virgin Money, Westpac or BOQ Specialist.
How it works
You need to follow these steps before you apply for one of the participating cards:
- Go to the Velocity offer page and log in to your frequent flyer account.
- Choose the benefit you want and confirm the selection. Note that you can only choose the benefit once.
- Wait for a confirmation email from Velocity.
- Apply for the participating card you want, then meet the spend requirement for its introductory offer.
Once the credit card introductory bonus points are added to your Velocity account, your chosen Velocity benefit will also be added within 30 days.
What are the benefits you can get?
40,000 bonus Velocity Points
These points are on top of a participating card's offer. And based on the current bonus point offers on these cards, you could get between 50,000 and 160,000 bonus Velocity Points with a new personal credit card (or up to 190,000 points with a business card) if you also chose the 40,000 bonus Velocity Points benefit.
Example: How to earn 160,000 bonus points with this offer
Right now, the American Express Velocity Platinum Card offers 120,000 bonus Velocity Points when you apply as a new cardholder by 31 May 2022 and spend $3,500 in the first 3 months.
If you also chose Velocity's 40,000 bonus points benefit before you applied for this card, then you'd get 2 separate amounts of bonus points – totalling 160,000 Velocity Points.
That's more than enough points for 2 return business class flights from Sydney to Fiji (142,000 Velocity Points plus fees and taxes).
Keep in mind that even if you don't choose Velocity's 40,000 bonus points, you can still get bonus points through the actual credit card. So, here's a look at the 2 other benefits you can choose from:
Trial Gold Status for 6 months
If you're a Red or Silver Velocity member, this benefit will give you access to Gold Velocity membership perks for a 6-month period.
This includes Virgin Australia lounge entry and higher rates of Velocity Points on eligible flights (75% more than Red members).
Notable perks you won't get during the 6-month trial include Gold bag tags, a physical membership card, guaranteed Reward Seats or parental pause benefits.
But if you earn 80 Status Credits in that time you'll also get Gold Status for another 12 months, making it a good choice if you have a lot of upcoming Virgin Australia flights.
$300 Virgin Australia Travel Bank Credit
This benefit gives you a $300 travel credit that you can redeem for domestic and short-haul international flights with Virgin Australia.
The credit is added to a Virgin Australia Travel Bank account in your name (as the primary credit cardholder). It's then subject to the Travel Bank terms and conditions, which means you have to use the credit within 12 months of when it's added.
Another key detail to note: Travel Bank balances can be up to $4,999. If you already have a Travel Bank balance of $4,700 or more, this benefit won't be worth it.
Participating Velocity credit cards
To give you an idea of what's on offer we've put key details of the bonus points and annual fee for each card in this table:
| Card | Bonus points offer | Annual fee |
|---|---|---|
| American Express Velocity Platinum | 120,000 bonus Velocity Points when you apply by 31 May 2022 and spend $3,500 in the first 3 months. | $375 |
| Virgin Australia Velocity Flyer – Bonus Points Offer | Up to 100,000 bonus Velocity Points when you apply by 31 May 2022 (25,000 bonus points per month when you spend $1,500 in that month, for the first 4 months). | $64 in the first year, then $129 per year |
| Virgin Australia Velocity High Flyer Card | Up to 100,000 bonus Velocity Points when you apply by 31 May 2022 (25,000 bonus points per month when you spend $3,500 in that month, for the first 4 months). | $289 |
| Westpac Altitude Platinum Velocity | 75,000 bonus Velocity Points when you apply by 30 June 2022 and spend $4,000 in the first 90 days. | $49 in the first year, then $200 per year |
| Westpac Altitude Black - Velocity | Up to 120,000 bonus Velocity Points when you apply by 30 June 2022 (90,000 points when you spend $4,000 in the first 90 days & 30,000 points after the first spend in year 2). | $300 |
| American Express Velocity Business | 150,000 bonus Velocity Points when you apply by 1 June 2022 and spend $3,000 in the first 2 months. | $249 |
| BOQ Specialist Signature | 20,000 bonus Velocity Points when you make 10 eligible transactions in the first 2 months. | $400 |
| BOQ Specialist Platinum | No offer listed on the BOQ Specialist website. (Note: The Velocity website lists different details for this card but because they are not found on the BOQ Specialist website, we have not included them.) | $150 |
While some of these introductory offers end in June, you would need to apply and get approved by 31 May 2022 to get one of the 3 benefits Velocity is offering. But you could still get bonus points through the credit card if you apply at a later date.
Already have one of these cards?
You can still get one of the 3 Velocity benefits if you apply for a different card and meet the eligibility requirements for its bonus points offer.
Keep in mind that for Amex cards, you won't be eligible for bonus points if you've had an Amex card in your name for the past 18 months – check the bonus point details for other cards if you already have one as well. And remember: you can only choose your Velocity benefit once.
Is it worth it?
If you're already looking for a new Velocity credit card, this frequent flyer promotion is a way to get extra bonus points, 6 months of Gold Status perks or a $300 travel credit.
While you do need to choose the benefit and wait for confirmation from Velocity, there's a lot of potential value in any of the 3 benefits – plus bonus points and other features on the credit card.
But keep in mind that this offer doesn't apply to all credit cards that offer Velocity Points. In fact, the terms and conditions state that it's only for cards that directly earn Velocity Points and have "an annual card fee".
That rules out a lot of cards, including the American Express Velocity Escape Card, which has no annual fee ever and the Citi Rewards Card – Velocity Points Offer, which waives the annual fee in the first year and earns points you can transfer to Velocity, other partners or redeem through Citi Rewards.
So if you want a $0 annual fee or more flexible points, it's worth comparing a wider range of Velocity cards first.
Earning points through another frequent flyer program? Check out the latest credit card offers.
Images: Finder, Supplied
