With over 600,000 bonus Virgin Australia Velocity frequent flyer points on the cards this month and up to 120,000 bonus points to be had from a single card application, giving your credit card points a 'health check' can help deliver not only a solid sign-up bonus when switching to a new card, but also a high ongoing earning rate on your everyday spend.
If you're in the market for a Velocity Frequent Flyer-earning card, here are this month's top public offers, spanning American Express, Citibank, Virgin Money and Westpac.
1. AMEX Platinum Card, AMEX Platinum Business Card
Each with offers equal to 120,000 bonus Velocity points, the personal American Express Platinum charge card, and the American Express Platinum Business charge card, providing up to 120,000 bonus Membership Rewards Ascent Premium points, convertible into Velocity points at a 1:1 rate.
On the personal card, you'd need to apply by August 30, pay a $1,450 annual fee and spend at least $1,500 on monthly purchases in each of the first three months, receiving 40,000 bonus points per month when that target is reached, up to 120,000 bonus points in total at the end of month three.
You can also earn up to three Velocity points per dollar spent on those transactions, such as at most AMEX-accepting restaurants, bars and cafes in Australia, with two Velocity points awarded per $1 spent on travel charges such as with airlines and hotels in Australia and on all overseas purchases, regardless of where you spend.
Over on the business charge card, the offer is a flat 120,000 bonus Ascent Premium points when you apply by August 29 2018, pay a $1,750 annual fee and spend $5,000 on purchases within the first two months, while also earning up to two points per dollar spent, such as on most travel expenses and computer equipment purchases from selected retailers.
There's no extra fee to add up to 99 additional cardholders onto the same account, such as your spending employees, so if you were to maximise that benefit with 100 cards in total (one primary cardholder plus 99 additional cards), the yearly 'cost per card' would be just $17.50.
2. Virgin Australia Velocity High Flyer Card
Next with an offer of up to 80,000 bonus Velocity points, the $289/year Virgin Australia Velocity High Flyer Card, issued by Virgin Money.
It works like this: in each of the first five months, you can earn 16,000 bonus Velocity points when you spend at least $3,000 on purchases that month – up to 80,000 bonus Velocity points overall at the end of month five under Virgin Money's standard public offer, for customers who apply by October 31 2018 and pay a $289 annual fee, while earning up to one Velocity point per $1 spent.
3. Citi Prestige Visa Infinite credit card
Offering 75,000 bonus Velocity points via the Citibank Rewards program, the Citi Prestige Visa Infinite credit card follows with a similar level of bonus points but a much higher annual fee.
You'll pay $700/year for this card, with 150,000 bonus Citibank Rewards points up for grabs when you apply and spend at least $3,000 on purchases within 90 days of card approval – that's equal to 75,000 bonus Velocity points following a 2:1 conversion from Citibank Rewards.
However, despite the hefty fee, the bulk of purchases made using this card fetch only 0.5 Velocity points per $1 spent (1 Citibank point, converted to Velocity at a 2:1 rate), with government-related payments earning no points at all, such as to the ATO, car registration, council rates, postal and road tolling charges, and more.
4. Citi Visa Signature, Westpac Altitude Black AMEX + Visa, Virgin Australia Velocity Flyer Card
Promising up to 60,000 bonus Velocity points in one way or another, Citibank's Citi Visa Signature credit card, the American Express Westpac Altitude Black Bundle and the Virgin Australia Velocity Flyer Card: the entry-level version of the higher-tier Velocity High Flyer Card above.
With Citibank, you could apply and spend $3,000 on the card within 90 days of approval to pocket 120,000 bonus Citibank Rewards points, worth 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 Virgin Australia Velocity Flyer Card instead provides 20,000 bonus Velocity points in each of the first three months for customers who apply by October 31 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 card 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 segments: first, 80,000 bonus Altitude points (40,000 Velocity points following a 2:1 conversion) when you apply by November 27 2018 and spend $3,000 on eligible purchases within 90 days of card approval 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. American Express Velocity Platinum Card
Maintaining its standard offer of 50,000 bonus Velocity points, the American Express Velocity Platinum credit card.
Those points can be earned by eligible new customers after paying a $375 annual fee and spending a further $3,000 on purchases within the first three months. As this is a 'direct earn' card, those Velocity points will be automatically credited to your Velocity account, rather than having to convert them across from a separate credit card rewards program.
Most everyday purchases also provide 1.5 Velocity points per $1 spent – boosted to 2.5 Velocity points per $1 spent directly with Virgin Australia, such as on flight purchases – and if your yearly credit card spend meets or exceeds $50,000, there's an ongoing bonus of 100 Velocity status credits included as well, which can help you gain or retain Silver, Gold or Platinum frequent flyer status.