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AmEx Velocity Platinum Card - 50,000 Velocity Points Bonus ($349 Annual Fee & $65k+ Income)

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AmEx Velocity Platinum Card - 50,000 Velocity Points Bonus ($349 Annual Fee & $65k+ Income)
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Rashed on 30/06/2016 - 18:57 americanexpress.com (1417 clicks)
Last edited 28/10/2016 - 00:55 by 3 other users

AMEX Velocity Platinum Card 80,000 Velocity Points ($349 Annual Fee & $65k+ Annual Income). This introductory offer is available to new American Express Card Members only.

Main Features:

  • Receive 50,000 bonus Velocity Points when you apply or 80,000 via referral link, after spending $1500 on your new Card within the first 3 months.

  • Earn up to 3 Velocity Points per $1 spent on eligible purchases

  • Complimentary Virgin Australia return domestic flight after your first Card spend each year. Destination Guide

  • Enjoy 2 complimentary Virgin Australia, and 2 Amex lounge invitations each anniversary year at selected airports

  • Velocity points can be used to book reward flights with Virgin Australia, Delta Air Lines, Singapore Airlines (When points are transferred to Singapore Airlines Krisflyer program, it can also be used to book other Star Alliance member flights) , SilkAir and selected codeshare flights operated by Etihad Airways and Virgin America.

  • Complimentary domestic and international travel insurance

  • Discounted International Business Class Companion Fares

  • 0% p.a. on balance transfers for the first 12 months - A one-off credit plan establishment fee of 1% applies to any balances transferred.

  • Virgin Australia Domestic Reward Chart

My referral link: http://amex.com.au/refer/rasheruLmw?CPID=100199915 (Bonus of a further 30,000 points with referral link)

You can also use any fellow OzBargainer's link from this referral wiki page: https://www.ozbargain.com.au/wiki/american_express_referrals

Referral Links

Business Explorer Card: random (1)

Referrer: 40,000 Reward Points

Centurion Personal Charge Card: random (7)

Referee gets 200,000 MR points. Referrer gets 150,000 MR points.

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closed Comments

        • Rashed on 03/07/2016 - 22:33
          +1

          @dazzywazzy: interesting, I will try it out, thanks mate.

    • Rashed on 03/07/2016 - 22:13

      You could also buy Coles Myer gift card / Woolworths Money / WISH gift card from their respective store or other prepaid card such as Coles Platinum Reloadable Mastercard, then use them slowly throughout the year (a tip I got from AFF)

  • Rashed on 04/07/2016 - 22:09

    You can also fly from other towns/airports, please check the destination guide map:

    Canberra To: Sydney, Adelaide, Melbourne, Coolangatta, Brisbane

    Sydney To: Adelaide, Melbourne, Albury, Hobart, Launceston, Canberra, Port Macquarie, Coffs Harbour, Ballina/Byron, Coolantatta, Brisbane, Maroochydore, Harvey Bay, Mackay, Hamilton Island, Townsville, Cairns

    Brisbane To: Adelaide, Melbourne, Hobart, Canberra, Sydney, Newcastle, Rockhampton, Mackay, Hamilton Island, Townsville, Proserpine, Cairns

    Perth to: Adelaide, Sydney, Broome, Port Hedland, Newman, Karratha

    Adelaide to: Melbourne, Canberra, Coolangatta, Brisbane

    Hobart to: Melbourne, Sydney, Brisbane

  • donbot on 05/07/2016 - 08:17

    How strict is the $65k income requirement?

    • NotAMoodle on 05/07/2016 - 08:40

      Not strict at all. As long as you put something above $66k you will be approved. I've witnessed 4 of these applications and Amex haven't asked for proof of income on any occasion.

      Hope that helps :)

      • donbot on 05/07/2016 - 08:45
        +1

        Ok cool. Thanks! My partner is borderline I think, so should be able to get her one, then refer me to get one.

        • NotAMoodle on 05/07/2016 - 08:45

          Good luck :)

        • The Champagne Mile on 05/07/2016 - 09:18

          @dazzywazzy: Not to put a dampener on things, but I was asked to provide proof of income (2 x payslips) before approval. So would suggest only inputting income you are confident you can support with documentation.

          Tizey, if your partner is borderline, I would just put in the correct income - I know someone who signed up with a $60,000 income per annum (they disclosed this at sign up) - by all accounts AMEX relax the 'minimum income' rule by around 10%.

        • NotAMoodle on 05/07/2016 - 16:44

          @The Champagne Mile:

          Maybe it has to do with credit rating also? My mum put in 55k and got the cars within 3 days, no questions asked

        • The Champagne Mile on 05/07/2016 - 16:56
          +1

          @dazzywazzy: Yes, there could be any number of factors at play. But just pointing out that AMEX do ask for proof on occasion, so probably not worth risking inflating income if it can't be backed up.

  • The Champagne Mile on 05/07/2016 - 09:19
    +1

    A great new way to use Velocity points has opened up – a couple of weeks ago, Singapore Airlines announced a new nonstop service to San Francisco, operated by the Airbus A350-900.

    It’s an excellent use for the 100,000 bonus Velocity points many people will have received through the referral offer (as you can easily transfer Velocity points to Krisflyer at a rate of 1.35 Velocity points to 1 Krisflyer point). The flight is over 15 hours, and comes in at 68,000 Krisflyer points + USD 253.40 for a Business Award flight.

    A number of travel blogs have covered this over the past few days, and the general consensus is that SIA have released very good availability from November 1. I’ve just completed a transfer from Velocity to Krisflyer, and the process was instant.

    If you haven’t yet signed up for the card, now might be the time to do so (referral wiki: https://www.ozbargain.com.au/wiki/american_express_referrals…)

  • PolarBear13 on 05/07/2016 - 09:57

    Applied and Approved using a OzBargain referral link. Thanks for the heads up folks. Looks like a great card!

  • ozbargainer888 on 05/07/2016 - 16:59

    Applied using a referral link but waiting to hear about approval. I've got 2 other Amex cards but they are bank issued so we shall see.

    • Rashed on 05/07/2016 - 17:09

      Good luck

    • ozbargainer888 on 06/07/2016 - 10:26

      Been approved so now whoever's link I used will get a bonus as well. Wish I had taken note of which one I used but it was one of the last ones on the list when I applied.

  • The Champagne Mile on 05/07/2016 - 19:05

    For anyone who has been churning points on this card for awhile, can I check how long it generally takes for points to credit from AMEX to velocity?

    • shiba on 05/07/2016 - 19:17
      +2

      From my experience, once points have been allocated to your amex account, they get swept to your velocity account on the next statement date.

      • The Champagne Mile on 06/07/2016 - 11:16
        +1

        Thanks for that - I am eagerly awaiting my next statement date so I can send my current points haul over to krisFlyer!!

  • garvani on 06/07/2016 - 10:59

    Just got my application successful sms! :D. Plan on using the 100,000 on upgrades to business to the US next year, free domestic & lounge pass for my sisters engagement party in a few months.. all for $350, not bad at all :D

    • mt19 on 06/07/2016 - 15:08

      Hi, mind me asking how can they be used for upgrades? Had a look at the site and it seemed you needed to be gold velocity and above to do that, I'm a lowly red level, would be cool if there is a work around.

      Cheers

      • NotAMoodle on 06/07/2016 - 17:03
        +1

        Hi there,

        There is actually 2 x ways to get your domestic & international upgrades. Once you purchase your fare, you will have 2 options in your booking menu (depending on class of fare). You will either be able to purchase an upgrade with your points straight away which guarantees you a business seat, or you will be able to "bid" for an upgrade using points or cash. You then have to wait till 24-72 hours before the flight to see if you're successful.

        For more info on exactly how to do this, feel free to check this article - http://www.pointhacks.com.au/velocity-points-virgin-australi…

        Cheers :)

      • garvani on 07/07/2016 - 09:51
        +1

        Dazzy has pretty much explained it. You need to be gold or platinum to be able to upgrade. I plan on using the points alone from a flexi fare.. 45,000 points per trip for upgrade.. so 90,000 return to LA, plus the initial outlay of a flexi ticket which is about $2k.. But a return business class to LA for 2k? yes please :D

        • Rashed on 07/07/2016 - 23:47

          Did you check if it would be cheaper if you transfer the points to Singapore Airlines and book your flight? Unless you personally prefer Virgin Airlines.

        • garvani on 08/07/2016 - 09:13

          @Rashed: No i havn't looked at that, wont be booking for a few months yet but will definitely check that out at the time

  • POWERevolution on 07/07/2016 - 23:03

    Got approved from this deal https://www.ozbargain.com.au/node/255580?page=2#comment-3837… on Tuesday but still waiting for the cards to arrive. (1st Amex issued card)
    If I apply for this card now am I eligible for 100000 points!?

    • shiba on 07/07/2016 - 23:12
      +1

      People have been reporting that amex is pretty lax with checking the new card member rule. There are some discussions in this deal as well as in Australian Frequent Flyer website.

      • The Champagne Mile on 08/07/2016 - 06:45
        +1

        Yes, speaking from personal experience, you'll be fine :)

    • Dacs on 08/07/2016 - 08:33
      +1

      I did the same thing. Note that in the application, when you get to the part asking if you have any other Amex cards you can't answer yes because then you have to fill in the number of your other card (which you don't yet have). So I said no and my Velocity card was approved.

      I've seen mixed reports (mostly good) about getting the bonus points while holding other Amex cards. Someone on another forum suggested that it may be dependant on if any of your other cards use the same reward system or not. For example if you already have an Amex Velocity Excape card it may prevent you from getting the bonus points for the Velocity Platinum card, but if you only hold a Qantas Amex Discovery card then you will get them.

  • The Champagne Mile on 08/07/2016 - 07:03
    +6

    OP - assume you've probably done very well out of referrals by now (I'd be surprised if you hadn't received four, which gets you to the 200,000 cap?)

    If you have reached the cap, as per the OP's edit in this deal (https://www.ozbargain.com.au/node/255580) you might want to think about removing your link from the original post, and just leaving the referral wiki. That way, the referrals will go to the general community rather than being 'wasted' if they click your link and you've already reached the cap.

    • NotAMoodle on 08/07/2016 - 07:54

      Surely since the OP posted the deal he/she has every right to leave their referral link there. If people choose to use other referral links from the wiki then that is their choice.

      He/she was the one that bought the deal to the community so he/she shall be rewarded!

      • Dacs on 08/07/2016 - 08:37
        +5

        As @The Champagne Mile says, the Amex referrals have a cap of 200,000 points, so if people continue to use the OP's referral code then the OP won't get bonus points anyway.

      • The Champagne Mile on 08/07/2016 - 09:11
        +5

        Of course the OP has every right to leave their referral link up (and may be choosing to do so as they haven't reached the referral cap) - it's just a suggestion, as I have noticed that Bunnycat removed their referral in the Platinum Edge deal awhile ago (presumably because he/she reached the bonus points cap).

        200,000 points is a significant benefit for an individual to achieve from a deal post, and the current Ozbargain referral guidelines mean that one person has a total monopoly on promoting their referral link within the deal (as it's forbidden for anyone else to promote their own referral links within post comments, even if their are providing valuable assistance/information to others (DazzyWazzy, looking at you :)), so this is a nice way the ensure the benefit to those others in the community who have input their referral links is maximised.

      • The Champagne Mile on 08/07/2016 - 14:33
        +1

        OP, I think you've been really lucky with this deal (many others of us, myself included, have had AMEX deals deleted). It sounds like you've managed to score the full 200,000 bonus points, so well done.

        I'm not sure, however, how appropriate it would be for you to post / switch between multiple referral links within a single deal post (the guidelines don't cover this in great detail - perhaps a Mod could provide some clarification)? In particular, replacing your personal link with the referral link for your girlfriend effectively has you benefiting twice.

        • Moderatorneil on 08/07/2016 - 15:40

          Referral deals bring out some questionable behavior by members (both for and against) thus why we have to specify some ground rules. They can also be quite complicated sometimes but at the end of the day we want good deals posted. This is an ever evolving issue so things may change based on community feedback.

          I wrote a guide on referral links which should make it easy to understand. There is also the referral section within our deal posting guideline.

          We've already explained why your 1 deal was removed in TWAM which you can confirm for yourself in the guidelines. No luck involved.

          If the OP wishes to replace their referral code, their partners, friends whatever then that is fine. We aren't going to make this any more complicated than it needs to be. If the OP wants to put other members, then I'd recommend just linking to the AMEX Referral page.

        • Rashed on 08/07/2016 - 19:42
          +1

          @neil: Thanks for your feedback. I will also go through the deal posting and referral guide. Have a good weekend. Cheers!!

        • Rashed on 09/07/2016 - 00:43

          @The Champagne Mile, No I didn't manage to score 200k, but I have my gf's application pending, I hope one or two of my colleagues will use my referral to apply, so even though I didn't hit the cap, I know I still have time to reassess my position, and hence I made that offer. Cheers!!

  • Rashed on 12/07/2016 - 04:18

    Guys, please share how did you meet the $2,000 spending requirement? This will help new card applicants, as well as those who are struggling. Thanks.

    • Holysmoke on 12/07/2016 - 07:34
      +1

      Gift cards from Coles or Woolies.

    • Dacs on 12/07/2016 - 07:35
      +1
      • Woolies eGift card with 5% discount from Cashrewards
      • Other gift cards, eg BP for petrol, iTunes, JB Hifi, etc.
      • Prepay health insurance, utilities, mobile phone, etc for the next few months
      • Pay your tax with it (1.45% fee charged by ATO). Any extra you pay will be refunded when your tax is assessed.
      • Send money to a trusted family member or friend through PaypalME (2.6% plus $0.30).
      • Cripptanite on 12/07/2016 - 13:39

        Thanks Dacs - can you (or anyone else) confirm sending money via paypalME qualifies as a purchase as opposed to a cash advance??

        • Dacs on 12/07/2016 - 13:43

          I haven't tried it but think I saw someone else on OZB saying that it worked okay. It's easy enough to check for yourself using a small amount first. I'd only use that as a last resort though due to the high fee. First ask family, friends and colleagues if they'd like to buy a Woolies eGift card at 5% off. That way it doesn't cost you anything.

  • wearabloodymask on 12/07/2016 - 09:14

    I am trying to refer my wife but for some reason when I send her the referral link so can see a few amex cards to sign up to but not the Velocity Platinum card with the 100,000 bonus points etc. Has anyone else experienced this and know how to fix it?

    • Rashed on 12/07/2016 - 11:42

      What Amex issued card do you have? As you can only refer for Amex Velocity if you have one.

      • wearabloodymask on 12/07/2016 - 12:39

        how annoying- I didn't realise this. I have an amex platinum edge

  • tybrisbane on 12/07/2016 - 16:17

    Hi all,

    Got the card today. How do I check that I will receive the 100k points? Is it in the AMEX account settings somewhere?

    • Rashed on 12/07/2016 - 16:36

      You can call them to ensure that you have applied through a referral and that you will be receiving 100k velocity points when you meet the requirements (i.e: spending $2,000 within first 3 months)

      • tybrisbane on 12/07/2016 - 16:53

        Mmm thanks, however no dice they didn't know

        • Rashed on 12/07/2016 - 17:40

          As long as you have applied through a referral link in July 2016 and during your application process you have seen that you will get 100k velocity points as sign up credit, you should be fine. Also note that accourding to Amex T/C the sign up credit is for new Amex members only (bank issued Amex are fine). But many have reported they still got the sign up bonus even though they have other Amex issed cards.

  • howard22 on 18/07/2016 - 00:33
    +1

    I got this in the mail: https://www.americanexpress.com/au/content/compare-velocity-…

    it looks like it is exactly the same deal as posted by OP but 100k points for sign up.

    Am i missing something vital compared to post ?

    • Rashed on 18/07/2016 - 00:49

      With my post, you can get 100k points as sign up bonus too, if you use a referral (see: Amex Referral Wiki / link provided in my post) your referrer gets around 20k points, but in July they will get 60k points due to a promotion. You are free to choose whichever you prefer. But if you have benefited from the OZBargain community, I would recommended to use a referral link, that way it is a win-win situation.

  • Dacs on 18/07/2016 - 12:32
    +1

    For those people who have got this or any other Amex card recently, check your Amex Offers for Welcome Offers: $20 credit for $40 spend and David Jones and $15 credit for $30 spend at Woolies (in store or online for both stores).

    • Dacs on 18/07/2016 - 15:38

      Correction: Online only for David Jones

  • The Champagne Mile on 19/07/2016 - 09:32
    +2

    Hi all. Just advising that I've had a friend who signed up in early July (and who cancelled a previous AMEX issued card 4 months back) tell me that they've had only 10,000 bonus points post as a result of a recent $2,000 spend - so it's looking likely that AMEX are starting to crack down on awarding full bonus points to people who've held AMEX product in past 12 months. Will update if anything changes.

    • baz123 on 20/07/2016 - 18:57
      +1

      I also already have an amex issued card, took out this one, and although I haven't met the $2k spend requirement yet I received 10K along with the following comment: "Velocity Cobrand Acqusition Bonus - Plat"

    • tuvz on 25/07/2016 - 16:41
      +1

      Any update?

      Amex often post bonuses to the account with all sorts of different titles
      so just because they posted 10k already doesn't necessarily mean they wont get the rest

      interested to hear what happens

  • shiba on 19/07/2016 - 12:24
    +1

    Not sure if it has been mentioned but for those with Sydney water, you can pay with Amex without surcharge if you select Paypal

    https://www.sydneywater.com.au/SW/accounts-billing/paying-yo…

    • Rashed on 19/07/2016 - 13:28

      Same with many other companies that does not take Amex but accept paypal. Exmaple: Simply Energy. Cheers!!

  • donbot on 20/07/2016 - 10:32
    +2

    Also a heads up if anyone still hasnt applied for this card, despite the various warnings and etc - Amex will BT to a credit card not in the name of the applicant no problems. Has to be done at application stage I'm led to believe.

    $10000 max BT (regardless of credit limit), assuming held in an offset at 4.5% interest for the full 12months, less $100 BT fee gives a net benefit of $280 - basically paying for the annual fee for the year, giving you a flight + 100,000 points for $69 out of pocket.

    • Crazy Diamond on 20/07/2016 - 23:29
      +1

      Agree with overall logic and numbers however one thing to be very wary of when doing this - when you have a 0% BT in your account, you then lose any interest free periods on all purchases, ie purchases are charged at the high rate (20%+ pa). You can pay them off immediately each time you receive your statement showing the purchases, so admin wise it's best to make only one purchase for $2k (to meet minimum spend requirements for the 100,000 bonus points), then put the card back in your drawer/cupboard until your BT is over. You'll also need to do this when paying the $349 annual fee.

      Source: I've done this before with a couple of different credit card providers and BT offers. It's also best to time the purchase transaction right near end of your monthly cycle, get online statement then pay it the next day. You may get charged a few dollars interest, but if you try to pay it mid cycle on the same day as the purchase, some card providers will inadvertently apply the payment against the BT not the purchases as technically they're both still at 0% interest on that day. 2012 credit card legislation covers order of repayments ie based on highest to lowest interest rate, but some providers "systems" don't seem to necessary follow that automatically…. (Amex may be better than others at this who I won't name, but just sharing the risk that exists)

    • Crazy Diamond on 20/07/2016 - 23:36

      Oh and don't forget you'll also have to make monthly minimum payments on the BT (3% of the balance each month) so over the example 12 months you'll pay pack roughly a third of the BT, reducing your "profit" somewhat, and further complicating any purchases v BT payment risk. But still a profit.

      Which is why I now only do one or the other at any one time (and hold a couple of cards to enable this)

  • Uppers on 21/07/2016 - 09:45
    +2

    For those interested, I had cancelled this card about 1 month ago, then saw this deal. Rang up and had card reinstated so I could refer a couple of friends. Made 120000 points and they have already been transferred to my velocity account! Will be cancelling card shortly before I get stung the annual card fee again. Signed up to the card on last years deal. Ozbargain winning!!!

    • NotAMoodle on 21/07/2016 - 10:24
      +1

      Definitely winning!! Congrats.

  • lochlomond89 on 21/07/2016 - 20:45

    Has anyone referred more than 3 friends and got 60k July bonus points for each referral? I know amex can be quite lax with these things. Last year I know of people who got more than 200k points from referrals even though amex officially limit it to 200k.

    • Rashed on 26/07/2016 - 03:38
      +1

      according to some AFF members: nope, it is capped at 200k, so for the 4th referral you will get 20k, and that's it.

      • lochlomond89 on 26/07/2016 - 15:07
        +2

        Thanks Rashed.
        I just confirmed with a mate of mine who did 6 referrals, He got 60k for first 3 and 20k for the rest.

        • Rashed on 26/07/2016 - 16:13

          No worries.

  • hhbb555 on 12/08/2016 - 20:53

    If i have a qantas amex discovery card, does it mean i need to wait for 12 months after i close it before i can join this offer?

    • Rashed on 12/08/2016 - 20:55
      +1

      From the experience of other Amex holders and mine, you do not have to wait, as long as you didn't have Amex Velocity CC in past 12 months or didn't cancel in past 12 months. You should get the sign up bonus.

  • GUTSA on 13/08/2016 - 13:48
    +1

    Hi Rashed, Just used your referal and got approved so, many thanks and hope you get the referal points.
    Cheers
    Gutsa

    • Rashed on 15/08/2016 - 00:13

      Thanks a lot Gutsa :)

  • Deviner on 16/08/2016 - 17:37

    So, is there anything special to booking a standard international flight?

    I'm reading about upgrades needing gold/platinum status etc etc… and read on how to book a domestic flight over on pointhacks.com.au, but haven't heard much mentioned about booking an international flight.

    • Rashed on 16/08/2016 - 19:46
      +1

      It's similar, look for an award fight. There are plenty. Let me know of you require more details.

  • The Champagne Mile on 16/08/2016 - 20:05

    As per the OP's recent deal update, AMEX have reduced down the bonus points haul on a couple of cards from this evening - the Velocity Platinum bonus point haul has been revised down to 80,000 when you use a referral link. Will be interesting to see if there is any movement with the Qantas branded cards.

  • AshSet on 25/08/2016 - 14:47

    Damn I've been eyeing this deal for a while. Just noticed the points being reduced to 80K. Damn, not sure If is still wait or go for it.
    Question: Can i select my card limit? Reason: I dont want it to be something like 15k like one of my previous cards thus reducing my borrowing power.

    • Dacs on 25/08/2016 - 14:50

      Yes you can reduce your limit to about $4k

      • Rashed on 25/08/2016 - 15:19

        2k, I have called and asked last week.

    • Rashed on 25/08/2016 - 14:54

      Yes you can preselect your card limit, and you can also increase or decrease the limit later. Amex does offer bonus points promotion once or twice every year, so if you would like (not in a hurry) you can wait.

      • AshSet on 25/08/2016 - 15:24

        Thanks. I used your referral link and jumped the gun. : )

        • Rashed on 25/08/2016 - 15:46

          Thank you, you are very kind :)

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