American Express - The American Express Velocity Escape Plus Card
The Velocity Escape credit card has an annual fee of $95 and up to 55 days interest-free on purchases. Up to 4 additional cardholders can be added for $0. Velocity Points are earned on this card at a rate of 1.75 points per dollar spent on eligible Virgin products, uncapped. Receive 1 points for every dollar spent anywhere else, except purchases with government bodies, where 0.5 points are earned.
This card has an purchase rate of 23.99% p.a..
An annual fee of $95 and earns Velocity Points through purchases.
Annual Fee
$95 per year
Purchase Rate
23.99% p.a.
Rewards Rate One
1.75 point(s) per AUD$1 On spent on eligible purchases with Virgin Australia
Rewards Rate Two
1 point(s) per AUD$1 On spent on card purchases, except spend at government bodies in Australia
Details
Card Type
American Express
Minimum Repayment
2.50% or $30
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$2,000
Fees
Annual Fee
$95
per year
Late Payment Fee
$30
per statement
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 4
additional holders
Rates
Purchase Rate
23.99% p.a.
Overseas Spending
Foreign Currency Conversion Fee
3%
per transaction
Eligibility
Minimum Age
18
years old
Temporary Residents
Yes
Rewards
Program
Velocity Frequent Flyer
Types
Domestic flights, International flights, Accommodation, Car hire, Gift Card
Bonus
20,000 bonus points
Reward Rates
Rewards Rate One
1.75 point(s) per AUD$1
On spent on eligible purchases with Virgin Australia
Rewards Rate Two
1 point(s) per AUD$1
On spent on card purchases, except spend at government bodies in Australia
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
No
Who is the product designed for?
The Target Market for this credit card are consumers who:
- Want to make purchases on credit with the ability to earn Velocity Points; and to access additional travel and insurance benefits.
- Earn a sufficient income to enable them to pay their outgoings and living expenses, in addition to their Card repayments each month without experiencing financial hardship.
- Are willing and able to pay an interest rate of 23.99% p.a. and an annual fee of $95.
Visit American Express to view Target Market Determination Effective From: 2024-11-06.
