American Express Velocity Platinum Card - 100,000 Bonus Velocity Points with $3,000 Spend in 3 Months, $440 Annual Fee

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American Express Velocity Platinum Card - 100,000 Bonus Velocity Points with $3,000 Spend in 3 Months, $440 Annual Fee
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Ljusoh on 22/01/2025 - 15:51 americanexpress.com (604 clicks)
Last edited 22/01/2025 - 16:17

Looks like they updated to match the 100k Qantas bonus.

Worth the wait.

$440 for 100,000 Velocity points.
The cost of 1 point is $0.0044

I have recently redeemed by return business class trip with Singapore Airlines through Velocity.
137,000 points for SIN-MEL return, which costs $3500-$4500 depending on when you book.
Take $4000 exchanged by 137,000, that is a value of $0.029 per point.

Cost per point: $0.0044
Value redeemed per point: $0.029

Obviously that depends on how you redeem, but generally it's worth it if used right.

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Comments

  • Corgsta on 22/01/2025 - 16:01

    Blah only for new customers. I have a Velocity Business card already.

    • Flyingdoc on 22/01/2025 - 16:51

      Are we correct in assuming a business customer is deemed an existing personal customer?

    • soaringphoenix on 22/01/2025 - 18:51

      Is it new customers as in new never had an Amex, or in the last 12 months? (yes, I'm lazy and can't be bothered going through the terms).

      Edit: Okay I read Velocity Points Terms and Conditions but couldn't find mention of this. Where can I find more info?

  • HolyCr4p on 22/01/2025 - 16:02
    -3

    $440 Annual Fee

    YEAH NAH

    • bk1973 on 22/01/2025 - 16:06
      +10

      It actually is pretty good if you consider the value of 100k velocity points, the complimentary Virgin lounge access and the free domestic flight. The Virgin lounge access is for every time you fly virgin domestically. No X entry coupons per year or anything.

    • jusoh on 22/01/2025 - 16:10

      You lose out then.

      $440 for 100,000 Velocity points.
      The cost of 1 point is $0.0044

      I have recently redeemed by return business class trip with Singapore Airlines through Velocity.
      137,000 points for SIN-MEL return, which costs $3500-$4500 depending on when you book.
      Take $4000 exchanged by 137,000, that is a value of $0.029 per point 5.59x profit.

      • benwaffle on 22/01/2025 - 17:38
        +1

        But would you pay 3.5k or 4.5k for the business flight in cash?
        If not, then the points value would be much lower because you have to divide by the cash price you would actually be willing to pay

    • dyziplen on 22/01/2025 - 17:52

      All these credit card promos are buying points/awards etc with annual fees. You don't actually think they just hand out points this freely do you?

      • zfind on 22/01/2025 - 18:36

        Of course it is, but when you can get to Europe return for $440 worth of points, why wouldn’t you? Not to mention many cards offset the cost with free flights or travel credits.

        It’s silly not to churn cards if you like travel at all.

        Echoing OP, I got PER SIN SGN in business for 50k AEROPLAN points which cost me a few hundred in fees on the HSBC card. I’m guessing that would cost at least $2k in cash.

  • iMagoo on 22/01/2025 - 16:09
    +9

    Note that the complimentary flight isn't as easy to redeem as they make it out to be. The redemption website has been broken for a long time, and you have to call up Virgin Australia to get it processed manually.

    • shepp0 on 22/01/2025 - 16:57
      +1

      Not true, I booked and flew using the website last week. easy as.

      https://compflight.virginaustralia.com/virginaustralia/compf…

    • Stewardo on 22/01/2025 - 17:00
      +1

      Use chrome instead.

      • iMagoo on 22/01/2025 - 17:50
        +1

        I am using Chrome. I've tried Chrome on mobile and on desktop. I've tried Edge on desktop. It always gives me too many redirects error. I clear cookies, same issue.

        • Stewardo on 22/01/2025 - 17:59

          I couldn’t get it to work on safari, went to chrome cleared everything worked first time.

      • iMagoo on 22/01/2025 - 18:31

        Straight up doesn't work. Unsure if it's because I have 2FA enabled and it doesn't support that auth flow, but no matter what browser or device I use I get a too many redirects error.

    • Emblex on 22/01/2025 - 17:08

      I tried booking this morning to use my complimentary flight before it expires next month and the website won't accept the date range I put in… I'll try Chrome before I call through.

  • escorpse on 22/01/2025 - 16:12

    Damn dont think I could get approved and get the card before I go overseas in 2 weeks :(

    • kerfuffle on 22/01/2025 - 16:26

      You'd get slugged a foreign transaction fee if you use your Amex overseas

      • cheekymonkey97 on 22/01/2025 - 17:46
        +1

        It's criminal having a 3% foreign transaction fee in this day and age. Especially on a card with a $400 annual fee…

        • Pratty on 22/01/2025 - 18:00

          And an “American” express no less!

  • MJD91 on 22/01/2025 - 16:18
    +6

    Citibank offer 110k points with 8k spend.

    https://www1.citibank.com.au/credit-cards/citi-premier-veloc…

    • syswong on 22/01/2025 - 16:49

      What is the income requirement on Citi offer?

      I had this AMEX almost a year ago and they are not picky on income and allow low credit limit (6K).

      • MJD91 on 22/01/2025 - 17:17

        Not sure sorry, i was approved this morning (120k income) but not sure of minimum.

  • AnyFurtherDiscount on 22/01/2025 - 16:24

    But you can cancel out out the fee with Qantas plus extra 4 lounges passes

    None for Velocity unfortunately

    • happychild100 on 22/01/2025 - 16:28

      Huh? This card comes with complimentary lounge access and 2 guest passes a year.

      • AnyFurtherDiscount on 22/01/2025 - 16:34

        My bad! Complimentary domestic flights return + 2 lounges pass. Not a bad deals

        • happychild100 on 22/01/2025 - 16:36

          Complimentary domestic flights return + Complimentary lounge access for yourself + 2 guest lounges passes, to be exact.

          • sarakoth on 22/01/2025 - 18:23

            @happychild100: On this, I take it a family of 4, only the cardholder gets lounge access and you have to use the guest passes. Is that how it works.. never had lounge access before.

  • vpn14 on 22/01/2025 - 16:54
    +1

    Westpac offers 120,000 points(90k in first year and 30k in second year)
    Fees -$295 + $75(altitude velocity)

    https://www.westpac.com.au/personal-banking/credit-cards/rew…

    • Phesto on 22/01/2025 - 17:46

      With double the min sped

  • syswong on 22/01/2025 - 16:56

    I guess I will have to wait twelve months before I sign up for another Amex velocity bonus offer?

    Also (for me) the lounge pass use is quite limited. I flow three int and one domestic last year, no chance to use…..

    Also the domestic flight, you will have to pay for the rest of your family to take advantage of that complementary ticket. In my case a two people family, me and my wife decided to forfeit the ticket and save that extra 1K we will need to spend for our next Int trip.

  • tabboy on 22/01/2025 - 17:09

    Do people find it difficult to use AMEX when paying for things? Where is everyone spending their minimum spend?

    • aurumlover on 22/01/2025 - 17:15
      +1

      sign up before a big purchase or buy woolworths giftcards with it - which have a longer expiry

      • xmagic on 22/01/2025 - 17:40
        -1

        Or Apple gift cards for iPhones, iPads or Macs.

      • tabboy on 22/01/2025 - 17:51

        Hmm no big purchases coming up…. What should I buy myself lol

    • bk1973 on 22/01/2025 - 17:20
      +1

      It’s not taken everywhere, but it’s taken at most places, i.e., Coles/Woolies, other big brand stores. Travel (flights, hotels). Gift cards is a good option too as is health insurance (Bupa takes it, unsure about others). Sites/places that charge credit card fees may charge a bit more for Amex over Visa/MC.

      • xmagic on 22/01/2025 - 17:41

        Good thing PayPal, Stripe and Square all have flat rate surcharge so it doesn't matter what card a customer use.

        Amazon also takes Amex after the shenanigans sometimes back.

    • xmagic on 22/01/2025 - 17:39
      +1

      I spent mine on a tradie in one go. Had to pay a bit of card surcharge (though Stripe charge a flat rate of 1.7% of for all cards, Visa, MC, Amex, so YMMV) but the bonus points is worth it.

  • Phesto on 22/01/2025 - 17:47

    Any churners had luck?

    • 2keane on 22/01/2025 - 17:49

      I went for the Qantas card and got the 5-10 days message. Had this card 6 or so years ago. Have had other cards, usually 1-2 a year.

      Pretty sure I tried this card last year and got the same message so I must be on the black list at amex

  • sarakoth on 22/01/2025 - 18:26

    So am I reading this right that you can get a return trip from Perth to Syd or Melb, which costs around $400 for the price of the annual fee of $440.. so then the bonus points and any other points earned on top is pure profit?

  • ThePointsGuru on 22/01/2025 - 18:28

    Looking at the trend from the last two years, Velocity has dropped the 30K bonus offer on credit cards around Feb, so I will wait a bit before applying and see if the 30K offer comes back again.

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