With Australian banks continuing to offer hefty helpings of Virgin Australia Velocity frequent flyer points to attract new credit card customers, we've rounded up four of the best deals.
You could earn up to 100,000 Velocity points from a single card application – although you should of course also consider annual fees, frequent flyer earning rates and other features before diving in.
1. American Express Platinum Charge Card
A seemingly recurring offer from American Express, its Platinum Charge Card delivers a generous 100,000 Membership Rewards points to new customers who apply by August 1 2016, charge at least $1,000 to the card within the first two months and also pay the card's $1,200 annual fee.
As Membership Rewards points can be converted into Virgin Australia Velocity points on a 1:1 basis, that gets you a nice bounty of 100,000 Velocity points – enough for a trip to Los Angeles and back in Virgin Australia economy or for a one-way journey in The Business.
Continue to spend and you'll pick up 3 MR points/$1 at most Australian restaurants; 2 MR/$1 with most travel companies and when overseas; 0.5 MR/$1 with utilities, most insurance firms and government departments; and one MR point per $1 everywhere else.
2. American Express Velocity Platinum Card
Also dressed to impress is American Express' Velocity Platinum Card, touting a lower bonus of 50,000 Velocity points for new customers but with a more affordable $349 annual fee.
You'll get those points after spending a further $500 within the first three months, but unlike the Platinum Charge Card, any points you earn will automatically appear in your Velocity account.
As such, you'll pocket three Velocity points per dollar spent at most Australian restaurants and directly with Virgin Australia; two points per dollar on travel purchases and foreign charges; 0.5 points per dollar with utilities and the like, and one one point per dollar on all other spend.
3. ANZ Rewards Black credit cards
ANZ's Rewards Black cards also allow you to convert your bank rewards points into Velocity points on a 2:1 basis, promising 75,000 ANZ Rewards points – or 37,500 Velocity points – to eligible new cardholders.
There's no minimum spend requirement here: you'll just need to make at least one eligible, points-earning purchase within the first three months and pay an annual fee of $375 and those points are yours.
Every dollar spent via the AMEX also scoops up three ANZ Rewards points per dollar spent (equal to 1.5 Velocity points), plus 1.25 ANZ Rewards points when swiping the Visa (equal to 0.625 Velocity points).
4. Citi Rewards Visa Signature credit card
A very close contender for fourth place, Citibank's Citi Rewards Visa Signature credit card also offers 37,500 Velocity points – but unlike ANZ you'll need to spend $6,000 within the first 90 days in order to get them.
Delivered as 75,000 Citibank Rewards points and converted to Velocity on a familiar 2:1 basis, you'll also pay an annual fee of $199 in the first year and $395 in future years.
In exchange you'll earn the equivalent of 0.75 Velocity points per dollar spent on amounts of up to $20,000 per month within Australia (no points thereafter), and uncapped points when using your card abroad.
Also read: The five best credit cards for earning Velocity points
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Chris is a a former contributor to Executive Traveller.
20 Oct 2011
Total posts 77
The Velocity Platinum Amex earns 80k points when referred from an existing cardholder, and that referee also gets 20k.
24 Apr 2012
Total posts 2424
Indeed, although as personal referral links aren't permitted here, we simply share the best publicly-available deal.
18 Mar 2016
Total posts 9
I'm curious as to whether Amex will bring back their Velocity Platinum with 110k sign on points offer that they did last year...
Qantas - Qantas Frequent Flyer
06 Nov 2014
Total posts 358
VA points aren't as valuable as it used to be after a fee negative changes:
- EY redemption now in table 2
- outrageously expensive surcharges on EY redemption, and in USD too!
- can't mix carrier
- can't mix cabin
- award availability between SYD/BNE-LAX a lot less than it used to be.
So none of the above sign up bonuses is as attractive to me as before. Perhaps better to look at it as KF sign up bonus at a conversion rate of 1.35:1 (of course for Amex MR and Citi reward is the same conversion rate for KF as VA)
Qantas
01 Jun 2016
Total posts 28
[Deleted by admin - promotional link]
06 Sep 2015
Total posts 24
I know this site is not specifically recommending "as many as 177,500 Velocity points on the table across the three banks below if you were to apply with each one" and I've seen this on your Qantas credit card deals article, but applying for multiple cards at the same time is going to have a significant effect on your credit record.
24 Apr 2012
Total posts 2424
Indeed – we'd never suggest applying for a credit card purely to accrue bonus points, so instead publish these lists primarily for readers already in the market for a new credit card as an easy way of identifying those that may suit their needs while boosting their frequent flyer balance at the same time.
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