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AmEx Velocity Platinum Card - $375 Annual Fee - 100,000 Velocity Points + Domestic Return Flight

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AmEx Velocity Platinum Card - $375 Annual Fee - 100,000 Velocity Points + Domestic Return Flight
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lilkid28 on 16/05/2017 - 13:36 americanexpress.com (3043 clicks)
Last edited 26/05/2017 - 15:27 by 2 other users

AMEX Velocity Platinum Card 100,000 Velocity Points ($375 Annual Fee & $65k+ Annual Income). This introductory offer is available to new American Express Card Members only.

Main Features:

  • Receive 100,000 bonus Velocity Points when you apply directly through the website or via referral link, after spending $1500 on your new Card within the first 3 months.

  • Earn up to 2.5 Velocity Points per $1 spent on eligible purchases

  • Complimentary Virgin Australia return domestic flight after your first Card spend each year. Please Note that, from 30th of March 2017, Amex Platinum Edge and Reserve will no longer offer complimentary flights, but instead will come with travel credits, so if you prefer the flight, this is the card for you. As this card still offer value for money return flights such as Perth to Sydney. Destination Guide(americanexpress.com)

  • Earn 1.5 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent

  • Earn 1 additional Velocity Point per $1 spent with Virgin Australia

  • Complimentary Virgin Australia return domestic flight every year after your first Card spend each year

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

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

Edit: The referral link still shows the old 80,000 points bonus and old annual fee, old earning rates on the card, so it may take a few days to update (assuming it does)

Edit2: Referral shows 100,000 bonus points now. 30,000 bonus points for referrer.

Mod: Do not place another OzBargain member's referral link within the deal.

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

  • tuvz on 16/05/2017 - 13:42
    +7

    An easy $1000 selling the points in the classifieds ;)

    • Samsungnote10 on 16/05/2017 - 16:06

      I think you are the guy buying up all the Amex rewards. Apologies if in wrong.
      I know it's against terms and conditions to buy and sell for qantas. And getting caught has catastrophic consequences

      I assume for amex it's all cool

      I value my points at 0.7c based on the 13500 pts for $100 credit if the purpose of reselling. So a 1% would mean profit. Which I'm happy to do
      But have never done it due to being concerned about getting my account stoppped

      • Gavman on 16/05/2017 - 16:27

        U can sell velocity points for double that 1.4c most days. 0.7 is junk low ball

        • Samsungnote10 on 16/05/2017 - 16:33

          Is it against terms and conditions to sell velocity?

          I know qantas is

        • lilkid28 on 16/05/2017 - 16:36
          +1

          @hellohello123:

          Yes it's against the T&C.

        • Gavman on 16/05/2017 - 17:03
          +2

          @hellohello123: your not really selling points or anything.. Ur just allowing someone else to use them i.e. I can let my son use my points to buy tickets. Whether he gives me some money for it, is not against the rules. If that person is not my son but a stranger .. the same wouldn't have any bearing on the matter.

        • tajid on 16/05/2017 - 18:31

          Velocity is worth more than Qantas?

        • Gavman on 16/05/2017 - 19:33

          @tajid: It depends what people a willing to pay I guess

        • Samsungnote10 on 16/05/2017 - 21:43

          @Gavman:

          Yes I agree

          With the qantas ff you can transfer to a family member only. I know some have got their accounts suspended when they are selling.
          I assume qantas don't know if money exchanged hands but a frequent transfer of points to a non relative is what probably trigger it

        • Gavman on 16/05/2017 - 22:17

          @hellohello123: Dude, I'm not talking about transferring points to anyone for anything.. that's not how it works.. if you want to learn more just PM me.

        • ozbd on 17/05/2017 - 09:02
          +5

          @Gavman:
          Bart: Uh, say, are you guys crooks?
          Fat Tony: Bart, is it wrong to steal a loaf of bread to feed your starving family?
          Bart: No.
          Fat Tony: Well, suppose you got a large starving family. Is it wrong to steal a truckload of bread to feed them?
          Bart: Uh uh.
          Fat Tony: And, what if your family don't like bread? They like… cigarettes?
          Bart: I guess that's okay.
          Fat Tony: Now, what if instead of giving them away, you sold them at a price that was practically giving them away. Would that be a crime, Bar

        • Gavman on 17/05/2017 - 09:55
          +1

          @ozbd: lol… if u think about it… most business ventures start like this. Someone is always trying to beat the system.

        • ozbd on 17/05/2017 - 11:59

          @Gavman:

          Haha i agree with you. Just reminded me of good ol Simpsons.

      • jaygee on 04/06/2017 - 20:29

        I didn't even know you could transfer Amex reward points!

  • cheaty on 16/05/2017 - 13:51
    +5

    I got the AMEX Explorer 4 months ago, so I guess will have to pass on this :(

    • EnALup on 16/05/2017 - 15:22

      Is this better than that?

      • carwashhair on 16/05/2017 - 15:27

        too many variables to answer that - spend/earn/sign-on points for starters, before you get onto the card benefits for each. Best you do the maths yourself.

        • mjp80 on 16/05/2017 - 19:51
          +1

          Earn rate is the same for velocity on both cards (1.5 per $1 spend, except government institutions), though Explorer gives you the option of earning to other FF programs.

          Explorer has a $400 flight credit and 2 AmEx lounge passes, this card gives you a free domestic flight credit which cannot be used to Perth if you're on the east coast and 2 Virgin Lounge passes.

          Bonus for this one is 100,000 velocity points whereas the explorer bonus only translated to 75,000 velocity points.

          All up I think the Explorer is better, if for no other reason than how much more you can get out of the flight credit. Unless maybe you live somewhere with a Virgin Lounge but no AmEx lounge, or won't be travelling internationally so won't get to use the AmEx lounge.

      • cheaty on 16/05/2017 - 15:33
        +1

        Depends. The Explorer comes with a $400 travel credit (per year), which in my opinion is better than the Domestic Return Flight. The points reward I think is comparable, so is the annual fee (395/375). Point rewards - depends on your spending patterns, other cards, etc.

        And the least important thing - the Explorer has a design similar to the Centurion card, I like it in my wallet as unless I win the lottery that's the closest I will get to owning a Centurion.

        • EnALup on 16/05/2017 - 20:00

          Thanks. Dont have these Ammex cards, so was wondering experiences users have. Dont fly that much either. It is basically to have better rewards and benefits for 1-2 local flights or 1 international holiday every year with family and Lounge passes.
          Are these cards worth it or have normal ones with less fee and gain reward points.

  • Thatbargainhunter on 16/05/2017 - 13:51

    When is the expiry.

    • ant-au on 16/05/2017 - 13:54
      +1

      via the website - "Receive 100,000 bonus Velocity Points when you apply online by 31 July 2017, are approved and spend $1,500 on your new Card within the first 3 months. "

    • lilkid28 on 16/05/2017 - 13:54
      +1

      The website says apply by 31 July 2017.

      • [Deactivated] on 16/05/2017 - 14:43
        +1

        Perfect seeing as ANZ are dropping Amex support in August this is the deal I am after, and the earn rate is awesome!

  • lilkid28 on 16/05/2017 - 13:53

    Shame that it seems restaurants no longer get 3 pts per $ spend. Still good for first year though, as long as you are eligible for bonus points.

    The referral link still shows the old annual fee, earn rates, 80k bonus points, so if anyone looking to help out other members by using a referral, you could wait a few days to see if it's updated.

    • illumination on 16/05/2017 - 14:11

      Whoa that's a huge change (the no more 3pts/$ at restaurants)

      Looks like it's time to change cards for me too :)

      • endgame on 19/05/2017 - 20:39

        Doesn't look like it's affecting existing cardholders just yet. I think the explorer is a more compelling card for ongoing use, since it gets effective 1.5 velocity p/$ but transferable.

        • endgame on 16/07/2017 - 18:59

          And having said that, I've received a letter in the post from Amex moving me to the new rates as of October.

    • Pecan on 16/05/2017 - 14:58

      Is this a new thing? Pretty sure I still get 3 points at restaurants, at least I did in April. I haven't had any May restaurant transactions yet.

      • illumination on 16/05/2017 - 14:59

        Yes absolutely it is a new thing.

        If you look at the features/rates by clicking on a referral link, it shows that you still earn 3pts/$ at restaurants but this probably hasn't been updated yet.

        • Pecan on 16/05/2017 - 15:04

          Is there any chance that this relates only to new rather than existing customers? I don't recall getting any notification about changes in the earn rate (if indeed they're obligated to, I don't know).

        • illumination on 16/05/2017 - 15:07
          +1

          @sTon3r:

          I'm not sure and would like to know too, but knowing what AMEX are like with customer service (good) I would expect a notification and therefore, because, like you I have not received a notification, I assume that my earn rate has remained the same.

          Not sure if they're actually obligated to either, but I've had great customer service experiences with them, so I think my assumption is reasonable :)

        • lilkid28 on 16/05/2017 - 15:10
          +2

          I just checked via AMEX live chat, it doesn't affect existing cardholders at this stage. Until further notice, that is.

        • Pecan on 16/05/2017 - 15:13
          +1

          @lilkid28: Love your work, thanks for checking!

    • smoo on 16/05/2017 - 16:02

      The referral link has updated now, no benefit to using it but helps out others.

    • endgame on 17/05/2017 - 07:26

      It depends on the referral link, I think. My referral links is showing the reduced earn rates.

  • yanman on 16/05/2017 - 14:30

    This isn't the best Velocity card for supermarket spend - is that correct?

    • lilkid28 on 16/05/2017 - 14:36

      Yes. The Platinum Edge would get 3 pts per $ at supermarke

    • illumination on 16/05/2017 - 14:38

      Correct.

      The Platinum Edge is the best for supermarket spend because you earn 3 Membership Rewards points per dollar spent at supermarkets, which converts to Velocity at a rate of 1:1.

      Factor in the 15% bonus that they run twice a year or so and you'll get the equivalent of 3.45 points/$ from supermarket spend.

      • yanman on 16/05/2017 - 14:53

        Hmm… although this would be out-weighed by say.. using Entertainment Book for 5% discount on Coles/Woolies gift cards.

        According to my budgets so far we spend about $6k/year on Woolies & Coles.

        • illumination on 16/05/2017 - 14:58
          +11

          Absolutely it is because I would generally agree that the 5% discount via the Entertainment Book is superior to being able to obtain (up to) 3.45 Velocity points per dollar at supermarkets by paying using the Platinum Edge. However, two things:

          • Not sure specifically about the Entertainment Book, but you can also buy Woolworths eGCs from Cashrewards at 5% all the time and pay with the Platinum Edge which also earns you 3pts/$, so you can stack it
          • The 3 Membership Rewards points per dollar you earn, whilst you can see it as being equal "up to" 3.45 Velocity points, can also be converted to points in many other programs. Some of which may be more valuable than Velocity. As an example, it also converts to a point each in Asia Miles (Cathay Pacific), Enrich Miles (Malaysia Airlines), KrisFlyer (Singapore Airlines), Etihad Guest.
          • The points that you hold in Asia Miles, Enrich Miles, KrisFlyer, Etihad Guest can be used to book flights in other airlines other than the parent airline.
          • Asia Miles, for example can be used to book into many airlines in the oneworld alliance, including Qantas - and often at a cheaper rate than Qantas
          • Enrich Miles is also part of oneworld
          • Etihad Guest points have a fairly wide variety of booking partners too, including Virgin Velocity
          • KrisFlyer points can be used to book into airlines in the Star Alliance
        • dbui8743 on 16/05/2017 - 15:20
          -1

          @illumination:

          You can buy the gift cards at 5% discount through cash rewards and still get the triple points

        • KBZ on 16/05/2017 - 15:27

          @dennis3107:

          That's what he said in the first bullet point.

        • dbui8743 on 16/05/2017 - 15:41
          +1

          @KBZ:

          Sorry, I replied to the wrong person again.

      • carnyturbo on 16/05/2017 - 14:56

        Just wondering - how do people spend enough at supermarkets to outweigh the 100,000 bonus points? Buying for businesses or something like that? Or is there some sort of scheme to buy and resell something of value from supermarkets where the extra points per $ starts to matter more than the bonus?

        • illumination on 16/05/2017 - 15:05
          +1

          Well.. you need to do the maths, but I imagine for the majority of people the 100k bonus is definitely much more valuable.

          Consider..

          • Velocity Platinum (this card): Spend $1500 on (for example) a Macbook within 3 months, you earn 2250 Velocity points on the Macbook purchase itself + the additional 100k Velocity points for having spent $1500+ within 3 months. Balance: 102,250 Velocity points
          • Platinum Edge: Spend $5000 over the course of a year at supermarkets, you'll earn 15k Membership Rewards Points. There's also no bonus points promotion right now. Balance: 15,000 Membership Rewards points

          I spend nowhere near enough at supermarkets for the 3pts/$ to outweigh the 100k bonus.

        • Coops1 on 16/05/2017 - 18:11

          Get the Velocity card and 100k in points etc, and then convert the card to a Platinum Edge and start earning 3ppd.

    • DaTa on 16/05/2017 - 15:04

      The Amex plat edge is the best for supermarkets with a 3 point earn.

  • itslittfam on 16/05/2017 - 15:00
    +1

    Any loophole in getting this card and the bonus points even though I got an explorer card a few months ago?

    • illumination on 16/05/2017 - 15:09
      +3

      They're getting strict about it apparently.

      To be honest, I don't think so, if the more recent reports over the last few months are anything to go by.

      In my mind it could still be worth a shot, assuming you're ok with "wasting" a credit enquiry on this card, because I'd imagine you could apply, try and meet the minimum spend and see if you get the points. If you don't, then you could try and cancel the card for either a full refund (within a month, I believe?) or a pro-rata refund of the annual fee.

      • geoffs87 on 16/05/2017 - 15:23
        +1

        i had this card last year, cancelled the card about 8 months ago. Wonder if that would mean im eligible…

        • illumination on 16/05/2017 - 15:33
          +1

          By the book you're not eligible because the exclusion period is 18 months.

        • bigspike on 16/05/2017 - 16:31

          @illumination:
          Where is this noted? The reason is when I cancelled last June they said no sign up deals for 12 months. If true I could get this, however if the rule changed for everyone, that would be sad.
          Edit - found it in the terms and conditions. Might call them anyway and see, because I have an ANZ combo set and they are dropping the Amex card.

        • illumination on 16/05/2017 - 16:41

          @bigspike: Yea used to be 12 months. Don't remember when they changed it to 18 months but they did! It's been a while now

        • Mad Max on 19/05/2017 - 15:40

          Does the 18 months rule apply if you had any Amex card or only if you had a specific card and you are applying for the same one?

        • illumination on 20/05/2017 - 13:29
          +1

          @maxi: Any AMEX card issued by AMEX directly (i.e. not counting bank-issued AMEX cards).

      • yasui on 17/05/2017 - 22:47

        I had platinum edge less and cancelled a few month ago. Would I still get the bonus point?

  • Sshanaz on 16/05/2017 - 15:20

    Perfect timing

  • alz on 16/05/2017 - 15:23

    Thanks. Any no annual fee cards with plenty of bonus points and a good transfer balance trade ?

  • Charleston on 16/05/2017 - 15:39
    +1

    Same old 18 month gap required for old members?

    Edit: Yep

    Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited, in the preceding 18 month period are ineligible for the Bonus Velocity Points offer.

    • aragornelessar on 16/05/2017 - 16:08

      I didn't realise the terms were 'ANY CARD' these days… I can see why it's such a big deal now… Keep the card and it's earn rate, or cancel it and wait 18 months for a huge sign up bonus

  • PurchaseAnxiety on 16/05/2017 - 15:48

    With all these CC deals, it's tempting to apply for multiple cards, and cancel once the 1st year is up. Can multiple applications (and cancellations) effect your credit rating at all?

    • asa79 on 16/05/2017 - 20:17

      You wouldnt get the deals when they are only for new applications tho

  • Gavman on 16/05/2017 - 16:00

    So if I click ops referral link and apply I get 130,000 Velocity points? Is that correct? Or it just means ops get 30000 and I get 100000

    • lilkid28 on 16/05/2017 - 16:12

      You get 100,000. And I (or other referee) gets 30,000.

      • Gavman on 16/05/2017 - 16:25
        +1

        Thanks. Op made its sound like it was 130k points.

        • lilkid28 on 16/05/2017 - 16:29

          Sorry, I have edited the post to hopefully make it a bit clearer.

      • ty99234 on 30/05/2017 - 10:12

        Is it 100000 extra or the 100000 listed in the offer?

        • NotAMoodle on 01/06/2017 - 17:37
          -1

          Just the 100,000 listed in the offer, you cannot get the 100k on the AMEX site without using one of the referrals from the many members on here.] :)

          Cheers and good luck mate

        • reg401 on 17/06/2017 - 16:43

          @dazzywazzy:

          Not sure what the situation was at the time of your posting, but that's incorrect today. You can easily get the same offer without any of the ref links, see here:
          https://www.americanexpress.com/au/content/velocity-rewards-…

          I assume some people would still like to be nice to the referrers despite that.

  • Heracles26 on 16/05/2017 - 16:26

    If my partner is a secondary cardholder (ANZ reward travel adventures VISA and AMEX) - can she apply for this card and still be eligible for the points?

    • Gavman on 16/05/2017 - 16:28

      Yes. They not the same thing. To my knowledge they are considered a new Amex Customer

    • lilkid28 on 16/05/2017 - 16:28

      As long as she has never held a direct issued AMEX as a primary cardholder in the past 18 months, yes. So it's just the ANZ adventures and no other AMEX, then yes she is eligible.

    • chriise on 16/05/2017 - 16:31
      +1

      If you don't have an AMEX card with AMEX directly, then so would you (if that helps).

      From T&C: "Previous and existing bank-issued American Express companion cardholders are eligible for this offer (cards issued by: Australia New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation)".

      • Heracles26 on 16/05/2017 - 16:32

        Oh ok great! The only AMEX card we have is the one through ANZ which is being phased out come August 5th anyway

        • chriise on 16/05/2017 - 16:32
          +2

          In that case, both of you would be eligible. It doesn't matter if you're primary on the ANZ.

        • lilkid28 on 16/05/2017 - 16:38

          If your annual fee is not due until later and have no need for the free flight and other perks urgently, you could say apply in say mid July, get approved and have this Velocity Platinum card running before August 5th changes.

        • Heracles26 on 16/05/2017 - 16:46

          @lilkid28:

          I think they may have already withdrawn the annual fee when I first applied, I am pretty certain they did!

          What if I book the free flight for later in the year and then cancel the card? And then apply for this one

        • lilkid28 on 16/05/2017 - 16:51

          @Heracles26:

          Ah yes, the first year free deal.

          I think you can, but best to check with ANZ or if someone else has done it recently. Just remember you have to book in your name and at least 60 days in advance for ANZ.

    • yanman on 16/05/2017 - 18:21

      And so I could refer my wife and get 30,000 on top of the 100k I just got with mine? :D

      • realfancyman on 16/05/2017 - 23:32

        Yep, she'd get 100k as well

  • carnyturbo on 16/05/2017 - 16:32

    Might be a stupid question, but can I refer someone to get this card if I have a different AMEX? (Explorer) Or can I only refer for the exact card that I already have? Thanks

    • illumination on 16/05/2017 - 16:42
      +1

      Nope, you can only refer into the same "family" of cards

      e.g. for Explorer I think you can refer into Essentials or Explorer
      If you hold this card, you can refer into either this or the Velocity Escape (no annual fee one)

  • hippyhippy on 16/05/2017 - 17:09
    +1

    can i get this offer if i have an essentials card?

  • myoda on 16/05/2017 - 17:19

    Question, do you have to pay the annual fee for the first year? i.e. can you join, spend and get points, and cancel before your first anniversary?

    • smit0847 on 16/05/2017 - 17:42
      +2

      The annual fee is charged in your first month.

    • [Deactivated] on 16/05/2017 - 17:48

      At no point did the deal description say the fee was waived

  • Gloomy on 16/05/2017 - 18:08

    Is it worth it to pay the annual fee vs. 100,000 velocity points?

    • lilkid28 on 16/05/2017 - 18:10
      +1

      For many including myself, yes. You get the free return flight, at the minimum should get $250.00 value easily, more for peak periods.

      • tajid on 16/05/2017 - 18:34

        can you sell this flight?

        • lilkid28 on 16/05/2017 - 19:03

          Many have sold this flight for $200-$250 on the classifieds section.

        • tajid on 16/05/2017 - 19:04
          +2

          @lilkid28: mate you'll have mmillions of points after this.

        • lilkid28 on 16/05/2017 - 19:06
          +2

          @tajid: I wish, but one can only receive max 200,000 bonus points per year from referrals. If I do get the maximum, I will remove my referral link for other referrals.

        • nickyd84 on 16/05/2017 - 19:35

          you can book in someone elses name, so technically I guess so.

  • High_Point on 16/05/2017 - 18:29

    Anyone know if the 65k+ is total salary or income before super ect.?

    • Kirby on 16/05/2017 - 19:40

      It's income before super but does also refer to "household" income. I have heard of people having cards approved with personal income less than 65k but household income above 65k

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