General consensus on this card please. (Amex velocity platinum)

Spending2Much on 12/07/2017 - 19:56
Last edited 12/07/2017 - 22:48

American Express Velocity Platinum Card.
Take up the Card by 31 July 2017, spend $1,500 on the Card within the first 3 months to receive 100,000 bonus Velocity Points¹.

Plus, earn 1.5 Points per dollar spent and 0.5 Points per dollar on government² – no matter how much you spend. You’ll also receive two complimentary single entry Virgin Australia Lounge passes³ and two complimentary Amex Lounge passes⁴, plus a complimentary return domestic flight each year with Virgin Australia.

The return domestic flight is enticing,consodering I can see myself flying Perth to Coffs Harbour on a regular basis.
100k points seems to get me part way of a flight, international.

I have the mobile with Virgin too.
Whats the general consensus? Is Amex a restriction, compared to the visa(debit) card I have now?
Thanks in advance

Financial

Comments

  • NotJustChickenDinner on 12/07/2017 - 20:02
    +3

    Annual Fee$375 p.a.

  • MITM on 12/07/2017 - 20:13
    +1

    Not everywhere accepts AMEX as regularly as MC/VISA. e.g. utilities.

    • Spending2Much on 12/07/2017 - 22:50

      Thankyou. That's a fair point to note.

  • danielh on 12/07/2017 - 21:17
    +2

    You might get a better response if you put the card details in the title.

    Also, I value 100,000 V points at $1,000 cash at least and so feel free to factor that into your equations.

    • Spending2Much on 12/07/2017 - 22:52

      Title updated as suggested. Thanks.

      The 100k points bonus is a reasonable amount. Can use velocity points on tiger air flights I think.

  • Savas on 12/07/2017 - 21:28
    +1

    Came because of your polite manners, can't offer help though. Perhaps read over the past deals and ask people there as well.

  • tuvz on 12/07/2017 - 21:42
    +4

    100k velocity =$1000
    Free flight =~$200
    Fee = $375
    Minimum net value =$825

    Thats aight

  • Elwes on 12/07/2017 - 22:33

    Consider how many years you want to keep the card. Those points will pay the annual fee for the first two years but then it'll start costing you.
    It'll be worth it if you're going to spend enough each year to rack up tons of points. But compare this card to a fee-free AmEx (e.g. Essential) and ask yourself if the points you earn in your third year plus a free domestic ticket add up to much more than the annual fee.

    • Spending2Much on 12/07/2017 - 22:58

      Good points of note for consideration. Thanks.

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