American Express Velocity Platinum Card

Credit Card Review: American Express Velocity Platinum Card

What's Hot

  • Access to Virgin Australia and AMEX airport lounges
  • Domestic and international travel insurance
  • Earn up to 2.5 Velocity points per dollar spent

What's Not

  • Reduced points earn on government charges

X-Factor

  • Take a free domestic return flight every year

Introduction

The American Express Velocity Platinum credit card pairs points with privileges by offering a complimentary return domestic flight each year, access to Virgin Australia and AMEX airport lounges and up to 100,000 bonus Virgin Australia Velocity points for new AMEX credit card customers.

Suited to frequent jetsetters, cardholders can earn up to 1.5 Velocity points per dollar spent with no points capping, while also receiving domestic and international travel insurance and more.

American Express Velocity Platinum card: fast facts

  • Grade/tier: Platinum
  • Card type: American Express
  • Loyalty program: Virgin Australia Velocity Frequent Flyer
  • Points capping: Uncapped

Total Velocity Points earned per A$1 spent with...

  • Virgin Australia, such as when booking flights: 2.5
  • Governments, such as with Australia Post and the ATO: 0.5
  • Everywhere else, including spend with utilities and insurers: 1.5

Fees, charges and interest: 4/5

  • Annual fee: $375
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases: 20.74% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: N/A
  • International transaction fee: 3.0%
  • Minimum household income requirement: $65,000 p.a.
  • Minimum credit limit: $3,000

Earning points for free flights: 4.5/5

Apply, be approved and spend $1,500 on your card within the first three months for a great welcome boost of 100,000 Virgin Australia Velocity points: enough for a one-way business class flight to Los Angeles with Virgin Australia, plus taxes and fees.

Thereafter, you'd earn enough Velocity Points for an almost-free Sydney-Melbourne flight after spending $3,120 with Virgin Australia; $5,200 almost everywhere else; or $15,600 with government bodies.

Further, American Express also throws in a free return domestic flight each year with Virgin Australia on selected routes, which may help justify the annual fee.

Airport lounge access: 4/5

The AMEX Velocity Platinum Card covers you for both domestic and international travel with two complimentary visits to Virgin Australia's domestic lounges when flying with Virgin Australia and two visits to the American Express Sydney Airport lounge each year.

Your credit card opens the doors to Virgin Australia's Brisbane Airport lounge...

If you travel overseas more frequently, you can also pay $55 at the door for any subsequent visits to the AMEX Sydney lounge, and US$50 to make use of any American Express Centurion Lounge in the USA including in San Francisco, New York, Las Vegas and Dallas/Fort Worth, among other cities.

Insurance and travel perks: 4.5/5

You're covered by domestic and international travel insurance whenever using either your American Express Velocity Platinum Card or your Velocity Points to book a return trip lasting 62 days or less, up to a maximum of 120 total travel days per year.

That's impressive on two fronts in that many credit cards only cover you when jetting abroad – not on home soil – and often provide no coverage when booking travel using your frequent flyer points rather than actual money.

Joining that is both purchase and refund protection for 90 days from the date of purchase and travel inconvenience insurance.

American Express Velocity Platinum Card: verdict

On value, the AMEX Velocity Platinum Card stacks up quite nicely, with the yearly return domestic flight mostly offsetting the annual fee.

For example, apply that to a Sydney-Melbourne-Sydney journey – a route where fares can often be found for ~$125 in each direction – and you've already saved $250 on a trip you'd probably have taken anyway.

That leaves you paying just $125 more for the promise of 100,000 Velocity points at the start and uncapped frequent flyer points thereafter, plus travel insurance, lounge access and more: not a bad deal in any respect.

 

13 Comments

  • Rigs

    Rigs

    30 Nov, 2016 10:33 am

    This is the card I use. I can't justify the 1200 bucks for the Platinum card.
    No member give thanks

  • Matt J

    MattJelonek

    30 Nov, 2016 10:48 am

    The Amex to have in your wallet or ApplePay! Couldn't recommend it any more regarding points earn and value plus customer service and reward flights too.
    No member give thanks

  • tronixstuff

    tronixstuff

    30 Nov, 2016 11:22 am

    Good review. This is our #1 card. We put everything possible through it for personal and ditto the business version. 
    No member give thanks

  • Mavers

    Mavers

    30 Nov, 2016 03:53 pm

    I have this card, I couldn't recommend it enough! It's definitely the most value packed card I've used over the years. 
    No member give thanks

  • Grant Williams

    gwilli1

    30 Nov, 2016 11:35 pm

    Extracted some great value out of this card in the last 18 months , including redeeming a PER-BME-PER free flight, which would normally be around $500....i'm already well ahead on the annual fee.   
    No member give thanks

  • Marcus

    desafinado74

    2 Dec, 2016 11:31 pm

    I got this card when AMEX was offering 100k of Velocity points last year, and i found it great, since i dine out a lot, and do a lot of online shopping from overseas.
    No member give thanks

  • Shane Tomlinson

    shane.tomlinson

    3 Dec, 2016 08:35 am

    This is the card I use. Unfortunately I missed out on the 100,000 poibnts bonus, but still got myself 50,000. Highly recommend this card.
    No member give thanks

  • nix584

    nix584

    13 Jun, 2017 01:53 pm

    I also have this card (first CC in about 12 years). I missed out on the 100k but got 80k, plus I signed up before the devaluation, so I still get 3 points/$ on VA and restaurants and 2pp/$ everywhere else (other than Govt payments). I used it in Singapore recently, where they welcome Amex almost everywhere, and was very happy to get 2 points/$ on my purchases!

    No member give thanks

  • Edwin Taylor

    Pointsman

    19 Jun, 2017 04:20 pm

    Hi Chris, you say that the 100,000 point's is enough to fly business one way to LA!  I have been looking at some business class travel with Virgin to attempt to get platinum under the new rules.  However, 100,000 point's won't get me very far at all!  The reward seat on Business saver shows 111,200 to LA from Mlb, is that what you refer to, or, am I missing something?
    Cheers
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    19 Jun, 2017 04:22 pm

    In the small print on the same screen it will also say 95,500 points + $xxx (an amount in money) - you just pay points plus the standard co-pay when given the option.
    Member who gave thanks

    Pointsman

  • dkjnye99

    dkjnye99

    19 Jun, 2017 09:58 pm

    Hi Chris - isn't it bizarre that the least effective way to earn points these days is to fly.....VA Gold member gets just 1300 between BNE and Mackay - a couple of shops at Coles or a few online surveys gets you just as many points!!
    No member give thanks

  • DGB

    DGB

    20 Jun, 2017 12:50 pm

    Hi Chris, Got this card a few years ago with the 100k points and while it is a good points earner I am finding it harder to use the card. Many outlets now are asking for "additional surcharge" or not wanting to take the card (AMEX) at all. 
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    20 Jun, 2017 01:11 pm

    As always, it depends where you shop - personally speaking, I rarely encounter AMEX-specific surcharges (and avoid businesses like JB Hi-Fi which charge more for AMEX in favour of their competitors which don't) - so if a business isn't keen on accepting your payment, consider taking your business elsewhere where your card is more welcome.
    No member give thanks

Guest

24 Jun, 2017 04:56 am

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