With over half a million bonus Velocity points on the cards this month and up to 120,000 Velocity points on offer from a single card application, switching to a new credit card for your business or personal spends could allow you to double-down on points: firstly from that generous sign-up bounty, but also from a strong everyday earning rate if you choose the best card for your needs.
Here are this month's top card deals for Velocity points, as offered directly to the public by American Express, Citibank, Virgin Money and Westpac.
1. American Express Platinum Business charge card
Beginning the new financial year at the top of the pile, the American Express Platinum Business charge card continues its reign, offering 120,000 bonus Velocity points through the Membership Rewards Ascent Premium program – that's 120,000 bonus Ascent Premium points, convertible into 120,000 Velocity points at a 1:1 rate.
That's available to eligible new customers who apply by August 29 2018, charge $5,000 of business purchases to the card within the first three months and pay a $1,500 annual fee – but there's no extra charge to add up to 99 additional cardholders onto the same account (such as spending employees), giving you points on all your company's card purchases.
Businesses can also earn up to two frequent flyer points per dollar spent (on things like travel and advertising), but just note that the entire closing balance on this card needs to be repaid in full every month, being a 'charge card' rather than a 'credit card': but for entrepreneurs on top of their finances, there's no pre-set spending limit, so things like hotel pre-authorisations won't get in your way.
2. AMEX Platinum Charge Card, Virgin Australia Velocity High Flyer Card
You don't need to be a business owner to clean up on points, and that's where the personal AMEX Platinum Charge Card and Virgin Money’s Velocity High Flyer Card come in, with offers of up to 80,000 bonus Velocity points.
From American Express, new cardholders need to apply, pay a $1,200 annual fee and spend $3,000 on purchases with the first three months, unlocking 80,000 Ascent Premium points (80,000 Velocity points via 1:1 conversion), while also earning up to three Velocity points per dollar spent on purchases, such as at restaurants, cafes and bars.
Virgin Money's standard public offer of 80,000 bonus Velocity points is instead a little different, providing 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. That's 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. Citi Prestige Visa Infinite credit card
Delivering 75,000 bonus Velocity points via the Citibank Rewards program, the Citi Prestige Visa Infinite credit card takes out the Bronze this month.
For this deal, you'd need to apply by July 31 2018, pay a $700 annual fee and spend at least $3,000 on purchases within 90 days of card approval to receive 150,000 bonus Citibank Rewards points, equal to 75,000 Velocity points following a 2:1 transfer.
However, on most everyday purchases, you'd only earn the equivalent of 0.5 Velocity points per $1 spent (1 Citibank point, converting 2:1 to Velocity), and no points at all on any government payments, including not just payments to the ATO, but also things like council rates, car registration, postal and road tolling charges, and more.
4. Citi Visa Signature, Westpac Altitude Black AMEX + Mastercard, Velocity Flyer Visa credit cards
Next up with offers of 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 lead-in version of the higher-tier Velocity High Flyer card above.
With Citibank, you could apply by July 31 2018 and spend $3,000 on the card within 90 days of approval to grab 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 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 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 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. American Express Velocity Platinum Card
Rounding out this month's deals is a promise of 50,000 bonus Velocity points on the AMEX Velocity Platinum Card.
For eligible new customers, that's earned when you apply, pay a $375 annual fee and spend $3,000 on purchases within the first three months, with the bonus Velocity points credited directly to your Velocity Frequent Flyer account.
On most everyday purchases, you can also earn 1.5 Velocity points per $1 spent – or a higher 2.5/$1 on Virgin Australia flight purchases – and if you spend $50,000 or more every year on purchases, AMEX throws in a bonus 100 Velocity status credits as well, which could help retain your existing frequent flyer status or help you move up the status ladder even faster.