With over 700,000 bonus Velocity points on the table this month from a range of top credit card offers and as many as 120,000 bonus Velocity points to be had from a single card application, switching to a new credit card can be an easy way to top-up your points balance, while also keeping the points flowing in as you continue spending on the card.
Without delay, here are the best public sign-up offers currently available in the market, from card issuers including American Express, Citibank, NAB, Virgin Money and Westpac.
1. American Express Platinum Business charge card
Remaining at the top of the pile this month, the American Express Platinum Business charge card continues to offer 120,000 bonus Velocity points for eligible new customers via the Membership Rewards Ascent Premium program: giving you 120,000 Ascent Premium points which can be converted into 120,000 Velocity points at a 1:1 rate.
Those points can be yours when applying by August 29 2018 as a new AMEX customer, charging $5,000 worth of purchases to the card within the first three months and paying a $1,500 annual fee: but to negate that cost, you can also add up to 99 supplementary cards onto the account at no additional cost to earn points whenever your employees spend company money.
The business can also earn up to two frequent flyer points per dollar spent, but being a charge card rather than a credit card, the entire closing balance needs to be repaid in full every month: so while there's no pre-set spending limit, this isn't a card for businesses that need to carry a balance from month to month.
2. AMEX Platinum Charge Card, Virgin Australia Velocity High Flyer Card
Don't run your own business? Look to the personal AMEX Platinum Charge Card and Virgin Money’s Velocity High Flyer Card instead, for offers of up to 80,000 bonus Velocity points.
From American Express, you'd need to apply, pay a $1,200 annual fee and spend $3,000 on purchases with the first three months, giving you 80,000 Ascent Premium points which can again be converted into Velocity points at a 1:1 rate. Plus, you can earn up to three points per dollar spent on purchases, such as restaurants, cafes and bars.
Slip Virgin Money's card into your wallet instead and the deal is a little more staggered, giving you 16,000 bonus Velocity points per month for the first five months, when you spend at least $3,000 on purchases in each monthly statement period: 80,000 bonus Velocity points at the end of month five, for customers that apply by September 2 2018 and pay a $289 annual fee, while earning up to one Velocity point per $1 spent.
3. AMEX Business Explorer, Citi Prestige Visa Infinite credit cards
Tempting with 75,000 bonus Velocity points this month: the American Express Business Explorer and Citi Prestige Visa Infinite credit cards.
Take the Business Explorer route and you could earn 100,000 bonus Membership Rewards Gateway points when applying by July 2 2018, paying a $395 annual fee and spending $3,000 on purchases within the first three months. Gateway points convert to Velocity at a 4:3 rate (different to Ascent Premium at a 1:1 rate), making your bounty equal to 75,000 bonus Velocity points.
Citibank uses a different conversion rate again, being 2:1 from Citibank Rewards to Velocity for Prestige cardholders, making the bank's offer of 150,000 Citibank Rewards points also worth 75,000 bonus Velocity points. You can earn them when applying by June 30 2018, paying a $700 annual fee and spending at least $3,000 on purchases within 90 days of card approval.
4. Citi Visa Signature, Westpac Altitude Black AMEX + Mastercard, Velocity Flyer Visa credit cards
Next in line with up to 60,000 bonus Velocity points, the Citibank Citi Visa Signature credit card, the Westpac Altitude Black American Express + Mastercard combo, and the Virgin Money Virgin Australia Velocity Flyer Visa: the entry-level version of the higher-tier Velocity High Flyer card above.
With Citibank, applying by June 30 2018 and spending $3,000 on the card within 90 days of approval unlocks 120,000 Citibank Rewards points, equal to 60,000 Velocity points when transferred at a 2:1 rate. An annual fee of $395 also applies, reduced to $199 in the first year only.
The more affordable Velocity Flyer Visa instead provides 20,000 bonus Velocity points in each of the first three months for customers who apply by September 2 2018 and spend at least $1,500 in each monthly statement period, being a total of 60,000 bonus Velocity points at the end of the third month from a total spend of $4,500, aside an annual fee of only $64 in the first year and $129 ongoing.
Over at Westpac, your bonus points are broken up into two chunks: first, as 80,000 bonus Altitude points (40,000 Velocity points following a 2:1 conversion) when you apply by October 23 2018 and spend $3,000 on eligible purchases using the Altitude Black Mastercard – joined by 40,000 bonus Altitude points (20,000 Velocity points) after spending a separate $3,000 on the American Express card within the same period.
5. AMEX Velocity Platinum Card, NAB Rewards Visa Signature credit cards
Completing this month's offers: 50,000 bonus Velocity points via the American Express Velocity Platinum Card, and through the NAB Rewards Visa Signature credit card.
From American Express, new customers can apply, pay a $375 annual fee and spend $3,000 on purchases within the first three months to get that bonus, while also taking home 1.5 Velocity points per $1 spent on everyday purchases, and 100 bonus Velocity status credits every year when spending $50,000 or more on purchases.
Otherwise, you could earn 100,000 bonus NAB Rewards points – equal to 50,000 Velocity points following a 2:1 conversion – when applying for the bank's Visa Signature credit card by June 17 2018, paying a $295 annual fee and spending at least $4,000 on everyday purchases within 60 days of account opening.