Home American Express – Velocity Platinum Card

American Express – Velocity Platinum Card

The American Express Velocity Platinum Card gives you a way to earn both 120,000 bonus Velocity Points and 120 bonus Velocity Status Credits when you apply as a new card member, get approved by 24 August 2021, and spend $4,500 in the first 3 months from card approval.

As a premium frequent flyer credit card, it also offers you up to 2.25 Velocity Points per $1 spent, complimentary lounge passes and a return domestic Virgin Australia flight – with an annual fee of $375.

20.74% p.a.
Purchase rate
Interest free for 55 months
$375
Annual fee
0
Bonus points*
*Terms & Conditions Apply.
See table below for details.
Velocity
Rewards program
Card overview
Rates & fees
Pros & cons
Overview
TypeAmerican Express
Limits
Minimum Limit$3,000
Maximum Limit$50,000
Rewards
Rewards ProgramVelocity
Bonus Points0
Rewards Points Per $ Spent1
Rewards Points CapUncapped
Additional Card Holders
Additional Cardholder Fee$0
Number of Additional Cardholders4
Eligibility
Minimum Age
Available To Temporary ResidentsYes
Minimum Annual Salary$65,000
Joint ApplicationYes
Balance Transfer Rate Details
Initial Balance Transfer Rate% p.a.
Balance Transfer Fee%
Initial Period months
Balance Revert Rate% balance transfer fee
Annual Fees
Annual Fee (Year 1)$375
Annual Fee (Ongoing) p.a.
Overseas Usage
Overseas Cash Advance Fee
Overseas ATM Withdrawal Fee$
Purchase Rate Details
Initial Purchase Rate20.74%
Initial Period55 months
Purchase Revert Rate20.74%
Cash Advance Charges
Cash Advance Rate0% p.a.
Cash Advance Fee
Repayments
Minimum Monthly Repayment2.5% of the closing balance or $30, whichever is greater
Late Payment Fee$30

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Frequently asked questions

Firstly, ask yourself why you need a credit card. Do you want to earn airmiles, transfer an existing balance to a lower (or 0%) interest rate? Once you are clear on the purpose, use our credit card comparison tool to find the one that meets your requirements.

It depends on what you want it for. What is good for the goose may not be good for the gander, as they say ion times gone by.

Our credit card comparisons tables will help you work out which card is better for you.

The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage.

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You will be transferred to the end providers application page where you will need to fill in an online application form. Your application will be assessed and then accepted or rejected.

We hope so! Our individual credit card overviews will give you an idea of application success. Some cards require a minimum annual salary for example.

If you are a temporary resident, you will need to check our credit card guides to make sure you are legible for the card you have chosen.

Your application could be rejected for a number of reasons. The most likely however, is your personal credit score.

If you are someone that has debt, or has not paid off debt regularly with a previous credit card provider, your application can be rejected.

It may also be that the credit card you are applying for requires you to earn a minimum annual salary that is over what you currently earn.

There are plenty of options available to you on this website. Have a further look through, and try again.

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