Been eyeing Amex for awhile, is this a good time to jump onto the Velocity card? It's currently 75k bonus and an additional 25k in year 2 (not sure if i'm keeping it till then) and I can make use of the latest velocity bonuses too ie. 30k points. I'm mainly gonna be using it for domestic travel and converting to krisflyer miles for SQ.
Good Time for AmEx Velocity Platinum?
penguinswillrise on 16/03/2023 - 09:49
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Can you share your measure of a good deal? ie. how many bonus points, spend, and fees
Yes I would compare it against prior deals or alternatives out there:
Prior Amex Velocity Plat deal (April 2022): https://www.ozbargain.com.au/node/696833
Current Velocity offer CCs that are better than Amex:
ANZ: https://www.ozbargain.com.au/node/751886
- Lower Annual fee, lower minimum spend to get same 75k bonus pointsOr,
Westpac: https://www.westpac.com.au/personal-banking/credit-cards/rew…
- Lower Annual fee, slightly higher minimum spend to get 70k bonus pointsSo I would jump on either ANZ or Westpac, or even the Virgin Flyer credit card to get the extra 30k points. And then wait for Amex Velocity Plat to have a better offer. The trend seems to be going between good individual versus business card promotions. So after the business promo ends, hopefully a better offer for the non-business card returns.
Thank you. I signed up for the westpac black velocity in Nov last year so can only consider the ANZ one. Do you keep your AMEX or cancel it immediately after receiving the bonuses to start the 18 month cycle?
Amex Velocity platinum - yes (you'll get more than the annual fee back in a return domestic flight each year)
Amex Qantas platinum - not so much.the 25k in year 2 is a con, no churner keeps a cc 2 years
I don't think so, but the deals have been getting progressively worse so it's hard to say. The good deal now is the Amex Velocity Business:
https://www.ozbargain.com.au/node/761623