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American Express Velocity Business Card
4.6
Highlights
- Get 170,000 Bonus Velocity Points when you apply online, are approved, and spend at least $3,000 within 2 months of approval. The offer is valid for New American Express Card Members exclusively.
- Earn 2 points for every $1 spent on Virgin Australia services and up to 1 point per $1 spent on other transactions. Earn 0.5 points per $1 on ATO and government expenditures.
- Get 2 complimentary single-entry passes to the Virgin Australia Lounge at chosen domestic airports annually.
Pros and cons
Pros
Cons
About this credit card
Basics
Card usage
Apple Pay Enabled
Yes
Card Type
American Express
Gambling Transactions Allowed
No
Samsung Pay Enabled
Yes
Eligibility
Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Fair, Good, Very Good, Excellent
Minimum Income
$75,000.00
Temporary Residents Accepted
Yes
Additional cardholders
Additional Cardholders
99
Additional Card Fee Ongoing
$99.00
Credit limits
Minimum Credit Limit
N/A
Maximum Credit Limit
N/A
Repayments
Interest Charged From
Purchase date
Interest Free Period
Up to 51 days on purchases
Minimum Repayment Percentage
2.5%
Balance transfers
Balance transfer offer
Balance Transfer Rate
N/A
Balance Transfer Period
N/A
Balance Transfer Fee Percentage
N/A
Balance transfer conditions
Balance Transfer From Personal Loan
N/A
Balance Transfer Limit Percentage
N/A
Balance Transfer Revert Rate
N/A
Rates, fees, charges
Cash advances
Cash Advance Rate
N/A
Cash Advance Fee
N/A
Cash Advance Fee Percentage
N/A
Cash Advance Fee Threshold
N/A
Purchases
Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
N/A
Account fees
Annual Fee Initial Year
N/A
Annual Fee Ongoing
$249.00
Dishonour Fee
$6.00
Duplicate Statement Fee
$10.00
Foreign Exchange Fee Percentage
N/A
Late Payment Fee
$20.00
Rewards
Rewards program basics
Rewards Program
Velocity Frequent Flyer
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
N/A
Rewards points per $1 spent
Domestic Rewards Points Earn Rate
1
Government Rewards Points Earn Rate
0.50
Overseas Rewards Points Earn Rate
1
Additional perks
Insurance
Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
No
Cardholder's International Travel Insurance
Yes
Cardholder's Interstate Flight Inconvenience
Yes
Cardholder's Personal Item Theft Cover
Yes
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
Yes
Cardholder's Refund Protection
Yes
Cardholder's Transport Accident Insurance
Yes
Travel and lifestyle
Airport Lounge Access Included
Yes
Concierge Service Included
N/A
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
N/A
Our review
Convenience
Customer service
Rates and fees
Rewards
Trust
The basics
- Additional cardholders. The American Express Velocity Business Card allows up to 99 additional cardholders for a fee of $99 per year per card. This is a great way to share your account with multiple family members and colleagues. You will be responsible for managing the account and making repayments.
- Digital wallets. This card is compatible with Apple Pay, Google Pay, and Samsung Pay.
- Gambling transactions. American Express has blocked this card from making any gambling-related purchases.
Rewards and benefits
- Airport lounge passes. Comes with two complimentary single-entry passes for select domestic Virgin Australia airport lounges.
- Complimentary travel insurance. None.
- Concierge services. The American Express Velocity Business Card does not include a concierge service.
- Insurances. Cardholders get complimentary travel insurance, fraud protection, purchase protection insurance, medical emergency expense cover, personal liability cover, business trip completion, trip cancellation, and amendment cover.
- Rewards points. Earn 2 points per $1 on Virgin Australia services, up to 1 point per $1 on other purchases, and 0.5 points per $1 on ATO and government spending. Redeem points through the Velocity Frequent Flyer program, with no expiry as long as your account remains active.
- Sign-up bonus. Get 170,000 Bonus Velocity Points when you apply online, are approved, and spend at least $5,000 within 2 months of approval. The offer is valid for New American Express Card Members exclusively.
Rates and fees
- Annual fee. The ongoing annual fee for this card is $249, which is similar to other business cards of this type.
- Balance transfers. This card does not have a balance transfer offer.
- Foreign exchange fee. This card has a 3% foreign transaction fee on all purchases made in a foreign currency, either overseas or online.
- Interest-free period. The American Express Velocity Business Card offers up to 51 days interest-free on purchases.
- Purchases. This is a charge card, so the balance must be paid in full each month.
Reviewed by Credit Card Compare Staff
History
User reviews
Convenience
Customer service
Rates and fees
Rewards
Trust
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