The American Express Platinum Velocity card is one of my personal favourites and has had a permanent spot in my wallet for some time now. Why, you may ask? We’ll get to that in a bit. First let’s look at the 50,000 Velocity points that are on offer right now as a promotion through American Express partners (that’s us!).
Here’s what you can get when you sign up:
- Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3000 on your new Card within the first 3 months. This offer is available to new Card Members, as well as Bank- issued American Express companion cardholders
- Complimentary Virgin Australia return domestic flight every year after your first Card spend each year
- Earn 1.5 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent
- Earn 1 additional Velocity Point per $1 spent with Virgin Australia
- Enjoy 2 complimentary Virgin Australia lounge invitations each anniversary year at selected airports and 2 complimentary lounge invitations to the American Express lounge in Sydney or Melbourne (soon to be opened)
- Complimentary domestic and international travel insurance
- 0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies.
Apply for this offer 50,000 bonus points deal: Click here (Mobile friendly)
The key factors of this card (and the reason why I keep it) are the fact that you get a free Virgin Australia return flight within Australia, considering I live in Perth, this is worth much more than the $375 annual fee! On top of that the earn rate is great and 2 Virgin lounge passes are a welcome addition. If you’re a big spender, this card has an added benefit and you will get 100 status credits after spending $50,000 within 1 calendar year.
Earning Velocity Frequent Flyer Points
The American Express Platinum Velocity card has an increased earn rate of 2.5 points per dollar for purchases made with Virgin Australia, perfect for those who are loyal Velocity Frequent Flyers. On everyday purchases Amex rewards you with 1.5 Velocity Frequent Flyer points per dollar for most transactions. Utilities and the ATO only earn 0.5 points per dollar (which is the case for most Amex cards).
Travel Perks Of the Amex Velocity Platinum
- Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, now and every year after your first Card spend – discover where your flight could take you
- Enjoy two complimentary single entry passes to the Virgin Australia lounge each year at selected domestic airports
- Enjoy complimentary access up to two entries per year to the American Express Lounge at Sydney International (Kingsford Smith) Airport T1 and the soon to be opened American Express lounge at Melbourne International Airport.
- Complimentary domestic and international travel insurance when you pay for eligible travel on your card ( Please read the PDS to make sure this works for you!). Travel Inconvenience Insurance will cover you for flight delays, missed connections or delayed luggage
The Amex Velocity Platinum card comes with 4 lounge entries per year, that is 2 entries into a Virgin Australia lounge of your choice and 2 entries into the American Express lounge in Sydney and the soon to be opened lounge in Melbourne. We value a lounge entry at around $50 so if you travel 4 times a year that’s an instant saving of $200. If you’re traveling with a friend or a partner, you can use your passes to guest them in as well so this offer is perfect for a couple doing 2 trips a year.
Amex Velocity Platinum Card Details:
- Loyalty program: Velocity Frequent Flyer
- Frequent Flyer Points earned from spend 2.5 Velocity points earned per $ spent with Virgin Australia, 1.5 points earned per $ on all eligible spend except at government bodies including the ATO where you will earn 0.5 point per $ spent
- Points cap: Amex Velocity Platinum has no points cap
- Earns points at ATO? Yes, but at a reduced earn rate of 0.5 Velocity Points per $1 spent.
- Travel benefits Each year: 2x Virgin Australia lounge passes, 2x American Express Sydney or Melbourne lounge visits,
- Free Virgin Australia domestic return flight
- Overseas transaction fee 3% of the converted amount
- Minimum income requirement $65,000
- Minimum credit limit: $3000
- Annual fee $375 ( Remember this is completely offset by all the benefits multiple times over)
One of the great benefits of the Amex Velocity Platinum card is the free domestic return flight you get each year. It easily outweighs the cost of the annual fee and best of all, you don’t need to redeem it for yourself if you are not planning to travel. You can use the flight to book a return trip for friends and family just by calling up the number on the back of your card.
Routes vary depending on your location but here are some example maps for all the major cities (and some smaller ones).
The free flight is also perfect to keep as a backup for the busy travel periods in the year, unlike regular tickets, the price of your free is well…free. This means that when you try to fly during an important sporting match for example, you won’t be stung by inflated airfares.
Perth residents are the obvious winners when you look at the route maps, flying Virgin Australia with checked luggage to Sydney is easily $500+ so having a free return flight for
when you need it is an easy win.
Ok, let’s do this! How do I apply?
Applying is pretty straight forward, you will need to do the application online by visiting the promotion page here.
Once you are approved (generally it takes 60 seconds to find out) Amex will send your brand new card to your home within a week or so.
Once you receive the card you will need to activate it and create an online account. Amex has the best online account out of most credit card providers, it’s easy to use and great to keep track of your spend but most important your point balance! Dealing with American Express support is always a breeze, I personally rate them at the highest level for customer support and phone service. They are seriously the most polite, friendly and professional phone agents you will ever talk to.
A few other things to keep in mind are:
- Be 18 years or over.
- Have a total household income of at least $65,000 annually. (Side note: household income includes you and your wife/husband/defacto/partner etc so you don’t need to earn a salary of 65k personally to be eligible. As long as the total combined income is equal or greater than 65k you’re good to go.)
- Be an Australian citizen or permanent resident or hold a current 457 visa.
- It goes without saying that terms and conditions apply so have a look here for further details.
Do you have any questions about this deal or how to use your Velocity frequent flyer points? If so, drop a comment below or shoot me an email 🙂