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American Express Velocity Platinum Card

8 reviews
23.99%
Purchase rate
$440
Annual fee
50,000
Bonus points

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American Express Velocity Platinum Card card
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CardIQ

33Basic

Basic

Overall score, out of 100 · How this works

  • 55 days interest-free31
  • Airport lounge30
  • Frequent flyer35
  • Rewards31
  • Sign-up bonus38
  • Travel32
  • Velocity Points35

Customer reviews

4.4

Based on 8 reviews

Reviewers kept coming back to rewards, travel perks and fees.

PeterRecommends

I mostly use Visa because AmEx is not accepted

The worst thing is I mostly need to use my Visa card (which earns less points) because American Express can’t be used in a lot of places. Also some places charge an extra fee for American Express cards.

AmbarishRecommends

Free flight, insurance, referral bonus points

The best credit card I have used to date: free flight and so much insurance coverage, which allows me to shop online tension-free. It rewards me with lots of Velocity points, which will help me with a lot of travelling. I also get bonus points for a referral. I love this card!

RyanRecommends

Great perks but high annual fee

This card has good points earning potential, especially if you take advantage of a referral or sign-up bonus. The annual fee of $395 is quite high but it is offset by insurance, lounge passes and a return domestic flight each year. This is my first year with the card and so far…

DominicaRecommends

Small business supporter

In the six months that I’ve had my AmEx card I have been extremely impressed with it. There are so many offers and benefits that it makes it very worthwhile. I would thoroughly recommend it to anyone who is eligible. I particularly like that they aim to support local small…

AmengRecommends

Well worth the annual fee

The major draw was the 100,000 (or 80,000) Velocity points for signing up, and while some people might be put off by the $349 annual fee, this is balanced out by the 1 free domestic flight per anniversary year, 2 free domestic lounge entries, and 2 free AmEx Lounge entries at…

StephanieRecommends

Great experience!

I loved maximising the platinum benefits of this card—great monthly partner offers, travel insurance, and an annual domestic flight free were the standouts. The card also gave free access to an international travel lounge at Sydney International, which we use quite a few times a…

Zub MombolorRecommends

I froth on this card

This was an absolutely smashing offer. After analysing card upon card in the market, this offer exceeded all expectations. I have greatly benefited from this points offer! I purchased a flight to LA with this bad boy and I have used one of the airport lounge passes already.…

Tronsky14Recommends

Perfect for domestic travel and online shopping

While the $349 annual fee is on the high side, as a frequent traveller, the benefits more than make up for the fee. Living in Perth, I am able to treat myself to an annual flight to Sydney. It comes with two lounge passes, a perk normally reserved for Velocity Silver members and…

Pros & cons

What's good

  • 50,000 bonus Velocity Points to start, worth around $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.
  • No fee to add an additional cardholder.

Worth noting

  • The $440 annual fee is high for a Platinum card, where the typical fee is about $155.
  • The 23.99% p.a. purchase rate sits in the most expensive quarter of cards (the median is 18.99% p.a.) if you carry a balance.
  • Earns 1.25 points per $1 on everyday spend, around the dataset average.
  • 3.5% foreign transaction fee on overseas spending, at the high end of the market.

Card details

The basics

Additional cardholder fee
$0 p.a.
Card tier
Platinum
Card type
American Express
Card use
Personal
Credit limit
$3,000 – $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
Eligible

Rates & fees

Ongoing interest rates

Cash advances
23.99% p.a.
Purchases
23.99% p.a.

Fees

Additional cardholder fee
$0
Annual fee
$440 p.a.
Cash advance fee
—
Foreign transaction fee
3.5%
Late payment fee
$30

Repayments

Interest-free period
Up to 55 days on purchases
Minimum repayment
2.5% of the closing balance or $30, 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
1.25 pts 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
50,000 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.
Los Angeles
Flying United Airlines non-stop, using Velocity points. Economy 48,000 pts, Premium Economy 73,500 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 personal credit card we list that has the feature. The further right the dot, the better this card does.

Interest-free days55 daysTop 10% (6th of 192 cards)
Rewards value$450 a yearTop 25% (12th of 95 cards)
Sign-up bonus$500Not as good as most cards (40th of 59 cards)
Overseas fee3.50%Not as good as most cards (152nd of 200 cards)
Purchase rate23.99%Among the weakest we track (181st of 196 cards)
Annual fee$440 a yearAmong the most expensive (192nd of 200 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