Amex launches two new Velocity credit cards

Virgin Australia’s rolling revamp of its Velocity Frequent Flyer program will see the return of co-branded American Express Velocity credit cards.

Leading the pack is the American Express Velocity Platinum card, which lets you earn status credits on the ground – provided you’re a high spender as well as a high flyer – along with unlimited access to Virgin Australia lounges.

Here are the top-line details for the Amex Velocity Platinum credit card, which carries a $440 annual fee.

• earn 100 Velocity Status Credits when you spend $50,000 on the card (in two batches of 50 SCs for each $25,000 spend)
• visit any Virgin Australia lounge ahead of any domestic Virgin Australia flight (the previous Amex Velocity Platinum card came with two Virgin lounge invitations plus two Amex Centurion lounge invitations – the latter is no longer part of the Amex Velocity Platinum proposition)
• enjoy one complimentary Virgin Australia domestic return economy flight per year
• earn 1.25 Velocity Points per dollar on everyday spend and 2.25 Velocity Points per dollar on Virgin Australia spend, without any cap

Issuing status credits on credit card spending is becoming increasingly common overseas, and remains contentious among many frequent flyers who fear this makes it too easy to qualify for lounge access through mid-tier status.

Under Velocity’s shift to spend-based status earning, those 100 status credits can for example close the gap to Velocity Gold once you’ve earned 400 status credits flying with Virgin or a partner airline, rather than the usual 500 status credits.

However, at the time of writing there surprisingly appears to be no sign-up bonus for the American Express Velocity Platinum credit card.

A more modest proposition is the American Express Velocity Escape Plus card, taking the place of the previous Amex Velocity Escape card.

For a $95 annual fee you get 1 Velocity Point per dollar on everyday spend, although once you hit 12,000 Points in each calendar year the earn rate drops to 0.75 Velocity Points per dollar.

There’s also a $50 statement credit on your account every year, once you enrol and spend $50 or more with Virgin Australia.

Both the Amex Velocity Platinum and Velocity Escape Plus cards offer complimentary domestic and international travel insurance.