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AmEx Velocity Business Card New Customer: 160,000 Velocity Points ($3,000 Spend in 2 Mo), 1 Yr Velocity FF Gold, 1st Yr $0 Fee

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AmEx Velocity Business Card New Customer: 160,000 Velocity Points ($3,000 Spend in 2 Mo), 1 Yr Velocity FF Gold, 1st Yr $0 Fee
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dragonslayer on 30/08/2022 - 22:25 americanexpress.com (2471 clicks)
Last edited 30/08/2022 - 23:39 by 2 other users

Hi team,
was in the market to apply for a new CC and maximise bonus
Seems like a great deal if not held an American express card in the past 18 months.

Receive 160,000 bonus Velocity Points1 plus an Annual Card fee waiver for the first year (worth $249) 2

Simply spend $3,000 on your new American Express® Velocity Business Card within 2 months of your approval date.

Offer ends 2 November 2022. New American Express Card Members only.

  1. New American Express Card Members who successfully apply for the American Express Velocity Business Card by 2 November 2022 and spend at least $3,000 on their new Card in the first two (2) months from the Card approval date will receive 160,000 bonus Velocity Frequent Flyer Points (160,000 bonus Velocity Frequent Flyer Points Offer). Card Members who currently hold, or who, in the preceding 18-month period, have previously held, any other Card product issued by American Express Australia Limited are ineligible for the 160,000 bonus Velocity Frequent Flyer Points Offer. The 160,000 bonus Velocity Frequent Flyer Points will be awarded to the eligible Card Member's linked Velocity Frequent Flyer account 8-10 weeks after the spend criteria has been met. $249 annual card fee applies. ↩

  2. First Year Annual Card Fee Waiver
    New American Express Velocity Business Card Members will receive a one-time credit of $249 during their first year of Card Membership if they apply by 2 November 2022 and are approved (First Year Annual Card Fee Credit). First Year Annual Card Fee Credit will be provided within 8-10 weeks of Card approval. The Annual Fee will still be charged on your first Card statement and annually thereafter. The Annual Fee is currently $249 (as at 29 August 2022) but is subject to change. Card Members who currently hold or who have previously held any other Card product issued by American Express Australia Limited in the preceding 18-month period are ineligible for the First Year Annual Card Fee Credit. This advertised offer is not applicable or valid in conjunction with any other advertised or promotional offer. ↩

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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Financial American Express Charge Card Frequent Flyer Reward Points Velocity Frequent Flyer

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closed Comments

  • cheekymonkey97 on 30/08/2022 - 22:39
    +1

    Does AmEx look at personal and business differently or is it the same 18 month waiting period shared between both?

    • BargainGeezer on 30/08/2022 - 22:52
      +1

      Same 18 month waiting period unfortunately.

    • SydOzber on 31/08/2022 - 03:19

      Hey mate,

      Any idea if the credit check will hit my personal file if applied for this business card ?

  • Hellcat on 30/08/2022 - 22:40

    What are the income requirements?

    • deanmoriarty on 30/08/2022 - 22:50
      +3

      ELIGIBILITY REQUIREMENTS
      Be over 18 years of age
      Be an Australian citizen or a permanent resident
      Have a good credit history and no payment defaults
      Have an annual business revenue of $75,000 or more
      Your business must have a valid ABN registered for GST

      • anhtram222 on 31/08/2022 - 10:54

        Yeah sad, i'm a temp resident.

  • Russ on 30/08/2022 - 22:56
    +5

    OP, your title is slightly misleading. Instead of saying "($0 annual fees)", how about "($0 fee 1st year)"?

  • hamwhisperer on 30/08/2022 - 22:57

    Darn, I've had an Amex velocity for years. Maybe I should have cancelled it.

    How long do you need to not have been a customer for an what can you redeem these points for?

    • buckster on 30/08/2022 - 23:13

      Normally 18 months.

      • hamwhisperer on 31/08/2022 - 06:09

        Ouch! Thanks.

        Maybe time to let it go and pick up a new one.

  • Drakesy on 30/08/2022 - 23:00
    +6

    Now to start a business

    • starbearer on 30/08/2022 - 23:23
      +4

      starting one is easy enough, can be done online.

      75k is the tricky bit.

    • wizko on 30/08/2022 - 23:23
      +6

      Start a credit card churning business

      • Chicken Kyiv on 30/08/2022 - 23:38
        +4

        Ill start ShopRewards, a new cashback app

        • scud70 on 31/08/2022 - 05:44
          +1

          Dibs on BackCash… (cashbacks too boring)…

  • TightAl on 30/08/2022 - 23:02

    Just approved last week for the same card, i don't think i had complimentary gold upgrade offer on mine :(

  • sol3x on 30/08/2022 - 23:03

    What if you are already a gold member?

    • starbearer on 30/08/2022 - 23:24
      +21

      was it due to an unfortunate shmelting accident?

    • john_conner on 30/08/2022 - 23:29
      +3

      Might be able to give someone else the complementary gold membership. If you aren’t already giving them them your gold member.

  • mc7alazoun on 30/08/2022 - 23:05

    I've a question and I'd appreciate if anyone can help: I've an online business and unfortunately I've been using CommBank business account for almost a year now and they charge fees on international transactions. Which credit card options are best for online businesses that also have to pay or get paid internationally? Is this credit card a good option?

    • NoApostrophePlurals on 31/08/2022 - 09:36
      +2

      Set up a wise account, previously Transferwise, just $10 for the debit card and low fees for sending money, no fees for receiving. There's fees for holding large amounts and fees for transferring, but you'd be ahead after using CBA. Excellent global rates, send and receive money to dozens of countries.

      • mc7alazoun on 31/08/2022 - 10:35

        Thanks mate. I already have one, yet, was hoping to use a credit card so I can get the extra benefits that come with it (points, travel, etc.)

  • arcticmonkey on 30/08/2022 - 23:09

    I'm a gold member and can't book any international flights on points as their website seems to be stuffed.

    It says flights are available and then you go to book and it reloads the page. Has happened for weeks.

    • Onemoredeal on 30/08/2022 - 23:13

      I booked return Singapore business Syd > Munich about 8 weeks ago no dramas on points . I’m also gold

      • arcticmonkey on 31/08/2022 - 05:06

        Where did you go to book? Virgin website and selected points? How far in advance?

        • Onemoredeal on 31/08/2022 - 06:26

          Virgin website, selected points, 11 months in advance around when they were released, There were lots more options with Etihad but the taxes are like qantas they were about $700 one way versus $300 return with Singapore so Singapore were a lot harder to find

    • nebakke on 31/08/2022 - 08:52

      Their site is genuine shite.

      That said, it does work, just not the way it should. If you do the search so it shows available dates, then modify it after to suit the actual dates that you want, it usually comes back with available options - assuming there are any of course.

      One thing to bear in mind though - I guess - is that flights are pretty heavily booked now, so you probably want to book well in advance.

    • Howdydoo on 31/08/2022 - 09:31
      +2

      I had this problem too. It wasnt loading the points vs amount of cash page and payment part of the page so it kept saying there was an error. It doesnt work using mobile and it was the same on my pc too. I ended up using a different computer (my work laptop) and that worked straight away! I have since made another booking and after i deleted all my web browsing history it worked on my original computer with no issue.
      You could also try using chrome.

  • jsheroes on 30/08/2022 - 23:20
    +1

    My partner literally just registered an ABN to start a business. Will earn above the threshold. Assume she has no chance of qualifying for this card right now?

    • easylife on 30/08/2022 - 23:36
      +1

      Have an annual business revenue of $75,000 or more.

      I would try contact their support or even give them a call. The might waiver it for you or offer something else. Worth a sus

  • bayleyb on 30/08/2022 - 23:54

    Does closing a credit card affect your credit rating? I see credit card deals pop up often, but unsure if it's common to routinely close them to take advantage of new offers and cycle through different types to collect points. Any advice would be greatly appreciated!

    • BargainGeezer on 31/08/2022 - 10:16
      +1

      I’ve had about 15 cards over the past 5-6 years and my credit score is ~800. As long as you keep it under 4 applications a year, you should be fine.

      • OzFrugie on 31/08/2022 - 10:31

        Within that period, did you apply for any loans successfully ?

    • spiff on 31/08/2022 - 14:05

      If anything, opening cards will affect the credit score, not closing them.

      • Shaneeo on 31/08/2022 - 15:04
        +1

        After starting in the Cc churning business around 2 years ago, with around 5 cards per year, my credit rating has actually improved over the same time.
        Closing credit cards apparently shows good financial management and control. I have each card open for 2-3 months total until the bonus is received and then close straight away.
        If you have a reasonable credit rating to start with it shouldn’t affect any loan app. The more important thing is to make sure you have them all closed and a temporary break in your churning when doing the loan app. Eg. Having 2 x $15k Cc active at the time of loan app will seriously hurt your serviceability and therefore may cause loan to be rejected.

  • OzFrugie on 31/08/2022 - 00:17

    Few questions pls:

    1. is there a requirement how long the business needs to be trading for before eligible to apply?
    2. also, does velocity pts 'worth less' / worse than qantas pts in general?
    3. 3k in 2 months will be hard for my small business.. can i use it to purchase things personally using business credit card?
    • odysseus on 31/08/2022 - 01:41
      +2

      1) Unlikely to be, within reason i.e. not just today and that you have trading history to demonstrate meeting business revenue requirements
      2) Personal preference, depending on your usage. Personally I find them better value due to ability to use and lower cost, but as a general statement they're fairly comparable in value
      3) Should be fine, subject to business processes not automatically paying the bill from business funds. You can pay from your own personal account e.g. via BPAY to the AmerEx card for your personal spending component and the business pay its share separately.

  • skinny on 31/08/2022 - 07:04

    If you had AMEX Qantas business card, do you still need to wait 18 months?

  • he11bent on 31/08/2022 - 07:44

    Holding a Amex Qantas card at the moment. Guessing this disqualifies me?

    • nightelves on 31/08/2022 - 08:00

      Literally says in the second dot point of OP's description.

      • he11bent on 31/08/2022 - 10:30

        LOL that serves me for posting before having my shot of caffeine

  • freedomofspeech on 31/08/2022 - 07:53

    Do you need to be registered for gst?

  • hishaken on 31/08/2022 - 09:43

    Will AMEX check personal credit score? Or just business income?

  • OzFrugie on 31/08/2022 - 09:44

    If you apply business credit card and you are the sole director of the company, does it affect your personal credit file? I.e. may impact you getting loans etc?

    Does business have business credit file separately from personal file? I.e. if I churn business credit card for points, will it impact getting loans from my company?

    Tia

  • kgree92 on 31/08/2022 - 10:16

    Dang I currently have Qantas American Express Discovery. Does that mean I am not eligible?

  • Adammw on 31/08/2022 - 11:06

    OP, might want to add the requirement "Have an annual business revenue of $75,000 or more" to the heading/description. Caught out by that…

  • liam2021 on 31/08/2022 - 11:17

    would david jones AMX card effecting the eligibility?

    • ck009 on 01/09/2022 - 07:03
      +1

      It shouldn't…..AmEx DJ cards are considered as a different poduct line to the AmEx cards (ie. MR, velocity, Qantas etc.)….
      I have received the bonus points on DJ card in Dec'22 even though I have an AmEx for the last 5 years….

  • jasonworrie on 01/09/2022 - 08:15

    From your experiences, how does amex verify your business revenue?

    • impoze on 10/09/2022 - 17:53

      i'd also like to know

  • kirynflare on 21/09/2022 - 14:02

    Has anyone who applied had a response for approval or decline?

    • Mahakaal on 04/10/2022 - 11:57

      I just got the call and they approved it. I only put $45000 in my application but lady said the minimum income is $75k for this card and I said to her my business income is $87K, (which is not, I have only $25K- $35K) and she approved it straight a way. She didn't asked me any income documents just only utility bill. So just put more than $75K when you applying for it.

  • OzFrugie on 12/10/2022 - 18:55

    Historically, how many points were the max these kind of offer give?
    Wonder if I should do it now or wait for better deal..

  • jorsmith on 24/10/2022 - 11:30

    Did anyone else not get their velocity frequent flyer gold. I got the 160,000 points but not the gold!

  • OzFrugie on 24/10/2022 - 19:57

    How long did they take to process ? I applied last week no news

  • OzFrugie on 27/10/2022 - 19:38

    Does anyone know if the 3k spending requirement can include payment to ATO?

    • Magicmagic on 01/11/2022 - 18:01
      +1

      Last year they counted spend on the quarterly business activity statement towards the minimum spend

  • AKJJ on 07/11/2022 - 21:51

    Got rejected :(

  • cmc on 07/11/2022 - 22:08

    Link now shows expiry date as 16th November

    • OzFrugie on 07/11/2022 - 23:13

      Is it the same deal though?
      I am bit concerned mine was approved 3 Nov (1 day after the deal was previously ended).
      Not sure if I am eligible to get the bonus or not.
      Terms and conditions say "successfully apply by 2 Nov", not approved by 2 Nov, so should be ok?
      Unless "successfully apply" means to get approved…

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