Important disclosure
American Express Velocity Platinum Card
Bonus Points
Receive up to 70,000 bonus Velocity PointsReceive 70,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only.
Purchase Rate
23.99%
p.a
Balance Transfer Rate
Not Applicable
Pros and cons
For Velocity Platinum Card
Benefits
- Rewards Available through Velocity Frequent Flyer
- Extra 60,000 points subject to eligibility conditions
- Ability to convert large purchases into instalment plans
- Apple Pay, Google Pay and Samsung Pay available
- Domestic travel insurance
- International travel insurance
- Free supplementary cards
- Airport lounge
- Purchase protection insurance
Drawbacks
- Higher than average ongoing variable purchase rate
- Higher than average ongoing annual fee
- No balance transfer
American Express Rate Credit card overview
For Velocity Platinum Card
Details
Card Level Platinum | Card Type AMEX |
Interest Free Days 55 | Minimum monthly repayment 2.5% or $30 |
Minimum credit limit $3k | Maximum credit limit $50k |
Free supplementary cards | Instant Approval |
Target Market Determination Visit American Express Australia Limited to view Target Market Determination. |
Fees
Annual Fee $375 | Annual Fee Spend Waiver |
Supplementary card annual fee $0 | Late Payment Fee $30 |
Over limit fee $15 | Duplicate statement fee $10 |
Electronic Wallet Service
Important Rates
Rates
Purchase Rate 23.99% p.a |
Cash advance rate |
Cash advance fee |
Balance Transfer
Balance Transfer Rate Not Applicable |
Transfer Limit |
Balance Transfer Fee |
Overseas spending
Foreign Exchange Fee 3% on Amex |
Overseas charges |
Estimated ATM Cost - |
Rewards
Program name Velocity Frequent Flyer |
Rewards Available Gift Card, Domestic Flights, International Flights |
Eligibility
Minimum age 18 |
Minimum income $65k |
Eligibility conditions - |
Residency |
Perks
- DOMESTIC TRAVEL INSURANCE Available when you use your card to pay for return domestic travel
- INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
- FREE SUPPLEMENTARY CARDS Up to 4 Free Additional Cards. Additional Card Members must be 18 years of age or over.
- AIRPORT LOUNGE Up to two Virgin Australia lounge passes each anniversary year at selected domestic airports and two entries per year into the American Express Lounge at Sydney or Melbourne International Airport
- PURCHASE PROTECTION INSURANCE Covers up to $2,500 per item and $20,000 per year with a $50 excess within 90 days of purchase
- Bonus Points Receive up to 70,000 bonus Velocity PointsReceive 70,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only.
Other Restrictions
Cash Advance not available