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American Express Velocity Business Card

No interest
Purchase rate
$249
Annual fee
150,000
Bonus points

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American Express Velocity Business Card card
60 second approval
You may have seen us in
The Sydney Morning HeraldNews.com.auYahoo! FinanceDaily Mail Australia

CardIQ

45Fair

Fair

Overall score, out of 100 · How this works

  • Airport lounge42
  • Business34
  • Frequent flyer47
  • Rewards44
  • Sign-up bonus60
  • Travel38
  • Velocity Points47

Customer reviews

No reviews yet. Be the first to review the American Express Velocity Business Card.

Pros & cons

What's good

  • 150,000 bonus Velocity Points to start, worth around $1,500 at our 1c-per-point valuation.
  • Complimentary airport lounge access.
  • Earns 0.5 points per $1 on ATO and government payments, where many rewards cards earn nothing.

Worth noting

  • The $249 annual fee is high for a Standard card, where the typical fee is about $50.
  • Earns 1 point per $1 on everyday spend, around the dataset average.
  • 3.5% foreign transaction fee on overseas spending, at the high end of the market.
  • Charge card: the full balance must be paid each month, with no option to carry a balance.

Card details

The basics

Additional cardholder fee
$99 p.a.
Card tier
Standard
Card type
American Express
Card use
Business
Credit limit
$1,000 – $100,000
Credit rating
Good
Rewards program
Velocity Frequent Flyer

Eligibility

Instant approval
Yes (response in ~60 seconds)
Joint application
No
Minimum age
18 years old
Minimum income
Not specified
Residency
Australian citizen or permanent resident
Temporary residents
Not eligible

Rates & fees

Ongoing interest rates

Cash advances
0.00% p.a.
Purchases
No interest. Pay in full each month

Fees

Additional cardholder fee
$99
Annual fee
$249 p.a.
Cash advance fee
—
Foreign transaction fee
3.5%
Late payment fee
$0

Repayments

Interest-free period
Up to 51 days on purchases
Minimum repayment
2% of the closing balance or $25, whichever is greater

Balance transfers

This card has no promotional balance transfer offer. To move existing debt to a lower rate, compare balance transfer cards.

Introductory purchase offer

This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.

Rewards

Earn rate

Everyday spend
1 pt per $1
Bonus categories
None
Other purchases
None
Overseas spend
None
ATO/government
0.5 pts per $1 on ATO and government payments
Reduced rate above monthly cap
None
Points cap
Uncapped
Points expiry
Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required
—
Sign-up bonus
150,000 points

Where these points could take you

Auckland
Flying Virgin Australia non-stop, using Velocity points. Economy 17,900 pts, Business 35,500 pts.
London
Flying Qatar Airways via Doha, using Velocity points. Economy 80,000 pts, Business 158,500 pts.
Los Angeles
Flying United Airlines non-stop, using Velocity points. Economy 48,000 pts, Premium Economy 73,500 pts, Business 102,000 pts.
Singapore
Flying Singapore Airlines non-stop, using Velocity points. Economy 29,000 pts, Premium Economy 57,500 pts, Business 74,000 pts.
Tokyo
Flying All Nippon Airways non-stop, using Velocity points. Economy 45,000 pts.

Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.

Where this card sits vs similar cards

Compared with every other business credit card we list that has the feature. The further right the dot, the better this card does.

Rewards value$360 a yearTop 25% (5th of 21 cards)
Sign-up bonus$1,500Not as good as most cards (7th of 10 cards)
Interest-free days51 daysNot as good as most cards (27th of 37 cards)
Annual fee$249 a yearNot as good as most cards (31st of 39 cards)
Overseas fee3.50%Among the weakest we track (34th of 39 cards)

Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.

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Sources

Credit Card Compare
Australian credit card statisticsHow CardIQ scores cards
Issuer
American Express
Program
Velocity Frequent Flyer