You’ll find some red hot credit card sign-up deals coming into summer with many banks enticing new customers with the promise of bonus Virgin Australia Velocity frequent flyer points.
Among the top five offers there’s a very precise 296,666 Velocity Points on the table, with as many as 100,000 Velocity Points to be had from a single credit card application.
As we always say, it’s generally unwise to apply for every credit card on the market just to pocket a bunch of frequent flyer points, but if your wallet is begging for a new card to maximise your points on Christmas shopping, it makes sense to consider one with a great sign-up deal.
1. American Express Platinum Charge Card
Promising a massive 100,000 Membership Rewards points for new customers, the American Express Platinum Charge Card easily takes out first place in this month’s Velocity Frequent Flyer stakes but does carry an annual fee of $1,200.
Simply apply by February 2 2016, spend at least $1,000 on the card in the first two months (excluding the annual fee) and those Membership Rewards points are yours, which can be converted into 100,000 Virgin Australia Velocity points on a 1:1 basis.
Thereafter you’ll continue to collect three MR points per dollar at participating Australian restaurants; two MR points with airlines, hotels, cruise lines, tour companies, travel agents and when abroad; 0.5 MR points with utilities, most insurance companies and government bodies; and one MR point everywhere else.
2. NAB Velocity Rewards Premium credit cards
Fancy a truckload of points but paired with a more affordable annual fee? NAB’s Velocity Rewards Premium cards deliver a strong 60,000 points for new customers at a cost of $150.
It’s as easy as applying on the NAB website by February 14 2016 and spending $1,500 on everyday purchases within the first 90 days: roughly just $500 a month.
As you keep spending on the account you’ll earn 1.5 Velocity Points per dollar spent on the NAB American Express card and 0.5 Velocity Points on the attached Visa.
3. American Express Velocity Platinum Card
Look to the American Express Velocity Platinum Card for an easy 50,000 Velocity Points after spending only $500 on the account in the first three months.
You’ll need to apply by February 2 2016 and pay an annual fee of $349, but your points are sent straight to your Velocity Frequent Flyer account every month: there’s no need to convert points via Membership Rewards as you’d do with the Platinum Charge Card.
Along with a free return domestic flight each year you’ll also collect three Velocity Points per dollar when booking Virgin Australia flights and at Australian restaurants, two points with other travel merchants and when overseas, 0.5 points with the usual utilities and 1 point everywhere else.
4. Citi Prestige Visa Infinite credit card
The Citi Prestige Visa Infinite card tempts travellers with 70,000 bonus Citibank Rewards points, but does carry a higher-than-usual annual fee of $700.
If Citi’s card is right for you, you’ll earn those bonus points by applying by December 31 2015 and using your card at least once within the first three months, after which your bounty can be converted into 46,666 Velocity Points.
As you continue to spend you’ll amass two Citi Rewards points per dollar spent in Australia and five Citi Rewards points abroad, which convert to 1.33 and 3.33 Velocity Points, respectively.
5. Citibank Rewards Visa Signature credit card
Trailing the Prestige card ever so slightly is the Citibank Rewards Visa Signature card with an offer of 60,000 Citibank Rewards points with a lower $299 annual fee – also reduced from the usual $399/year for new applicants.
You’ll again have until the end of the year to apply for, activate and spend on the card with those bonus points awarded after your first purchase, and equal to 40,000 Velocity Points.
As you’d expect of a less-expensive card than Prestige, you’ll earn 1.5 Citibank Rewards points per dollar spent at home and four Citibank Rewards points per A$1 charged overseas, equal to 1.0 and 2.66 Velocity Points, respectively.
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