Amex relaunches Velocity credit cards: what’s new?
The revamped Amex Velocity Platinum card delivers status credits and unlimited lounge access.
Virgin Australia’s rolling revamp of its Velocity Frequent Flyer program now sees the return of two “refreshed” 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, and also receive two single-use lounge passes for family or friends
- two single-entry American Express Centurion Lounge passes per year, although this benefit will be withdrawn on 24 April 2025
- 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
With Velocity status becoming harder to earn under Velocity’s shift to spend-based status earning (along with cuts to status earning on partner airlines), the lure of year-round lounge access simply by having the American Express Velocity Platinum card in your wallet or purse should have solid appeal.
There’ll also be also a sweetener of a 60,000 bonus Velocity Points offer for “new American Express Card Members only” who apply online by 21 January 2025 and if approved, spend $3,000 on eligible purchases within the first three months (note that this offer is not yet live at the time of writing).
“If you previously held a David Jones American Express Card and have not held any other American Express Card(s) in the past 18 months, you will be eligible for the offer,” American Express says.
“Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the past 18 months are ineligible for this offer.”
A much 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.
Virgin Australia - Velocity Rewards
03 Jun 2014
Total posts 19
Does this also count for existing card holders or is it for new members only? I hit the $50k spend each year so the status credits aren't a big thing for me except to retain Platinum. Would be nice to see an expansion of the offering into the Centurion Lounge for Platinum card holders to even 4 visits a year or 2 for each Centurion/ Amex lounge in Aust
QF
11 Jul 2014
Total posts 1024
The card I really want is Visa/Mastercard with unlimited points earning with a couple of Beyond passes thrown in for good measure, the charges on AMEX are way to high. We are currently looking at swapping our Qantas AMEX Business cards (30) out for a better option.
11 Sep 2015
Total posts 228
Ironic that Virgin is making lounge access harder to get with its move to 'spend-based status earning' but at the same time giving lounge access to anyone who plonks down $440 for this Amex card! I reckon the two go hand-in-hand, Virgin knows that making lounge access part of the Amex card benefits is going to make this card a massive hit with Velocity members, which is what Amex and Virgin both want.
06 Jun 2017
Total posts 55
So pay $12,000 per year buying Choice/Flex fares for Gold Status, or pay $440 per year with this for lounge access and just buy Lite fares. I have no idea what's going on at VA.
24 Aug 2011
Total posts 1225
Remember you are paying AMEX for the card not VA. We have no idea what AMEX pay VA but it could be more than you think. AMEX are interested in customer acquisition and make most of their money downstream through merchant fees and customer interest charges. The fee that they charge the customer may not even cover what they pay VA but it is a cost of sale to AMEX who are happy to accept to add higher spending customers to its books.
Virgin Australia - Velocity Rewards
25 Jul 2013
Total posts 72
This is actually pretty funny. VA has made status quite a bit harder to attain under their new status credits per $ spend policy ... yet unlimited lounge access is now available with this card. In fact, this card is a cheaper upfront cost than taking out lounge membership with VA directly, plus you get a comp return flight thrown in!
Virgin Australia - Velocity Rewards
25 Jul 2013
Total posts 72
PS: I'm still confused about how many FF points we'll earn with VA spend when using this card in future - is it 4 points/$ with VA + the additional 2.25? Or 5 points/$ + 2.25? (Excluding gold/plat FF bonuses)
Virgin Australia - Velocity Rewards
03 Jun 2014
Total posts 19
It's 2.25 points/ $ spent with VA on flights. No multiplication on the earn amounts
29 Mar 2017
Total posts 32
The annual fee is less than purchasing a Virgin Lounge membership - ($450). How odd!
Virgin Australia - Velocity Rewards
24 Jan 2018
Total posts 775
True, but of no incremental benefit if you're already VFF Platinum.
22 Mar 2013
Total posts 10
Very interesting proposal with lounge access. I assume that even kids would count as guests of the primary cardholder (so the cardholder and a child couldn't enter)?
Also noting the T&Cs of the Virgin lounge on arrival policy specifically excludes: "Eligible Partner Credit Card Holders"
Qantas - Qantas Frequent Flyer
09 Jan 2017
Total posts 30
Do existing Amex Velocity Platinum card holders automatically qualify for the lounge-pass-per-flight sweetener (upon renewal at the next $440 annual fee) or only new Amex-Velocity members?
Virgin Australia - Velocity Rewards
16 Oct 2018
Total posts 3
I’ll retain Platinum this year but unlikely to retain Gold in the future… Does this offer reflect Gold where the cardholder can bring a guest and 3 kids? Or is access to the lounge strictly for the cardholder?
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