The American Express Velocity Platinum Card
Churn value on the terms I have: $295 in gift cards.
You pay $440 in first-year fees.Spend $5,000 in 90 days.You get $350 in Coles gift cards.
The recorded minimum requirements are that you can take a credit limit of at least $3,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $440 fee.
Listed end date passed — check issuer availability
This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.
I'd like to use my bonus for:
Can I get this?
This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.
Can I get this bonus if I have held a card before?
Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the past 18 months are ineligible for this offer. The wait is 18 months, from the last date you held one of these cards. If you hold one now, you cannot get this bonus.
See the waiting rules for every Australian bank →What must I spend?
$5,000 within 90 days — about $1,667 per month.
Can I get the card?
The minimum credit limit is $3,000. This is the least the bank may let you borrow.
I do not have a minimum income for this card.
Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.
How long is this available?
The listed end date has passed: 13 October 2026. Date comparison uses the Australia/Sydney calendar. The issuer’s closing time and timezone are not recorded. Check availability with the issuer.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $5,000 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for gift cards. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $440 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $440 each year ($440 annual fee) — the first year was $440.
The year-two bonus is 30,000 Velocity points.
Ongoing earn: 1.25x Velocity points per $1.
Keeping pays off only if you meet the second-year conditions and use the points and benefits enough to cover $440/yr.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →Earn Velocity Points on Card spend (2.25 per $1 within Virgin Australia, 1.25 per $1 on Card purchases except Australian government bodies, 0.5 per $1 at Australian government bodies) with uncapped points earning
More detailsLess details
Earn Velocity Points on Card spend (2.25 per $1 within Virgin Australia, 1.25 per $1 on Card purchases except Australian government bodies, 0.5 per $1 at Australian government bodies) with uncapped points earning
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Purchase Protection Insurance Compare across cards →Card Purchase Cover for eligible stolen or damaged items purchased with the Card; Card Refund Cover for recent unused purchases when a store refuses a return
More detailsLess details
Card Purchase Cover for eligible stolen or damaged items purchased with the Card; Card Refund Cover for recent unused purchases when a store refuses a return
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Travel Credits Compare across cards →Complimentary annual Virgin Australia return economy domestic flight between selected cities after first Card spend each anniversary year.
More detailsLess details
Complimentary annual Virgin Australia return economy domestic flight between selected cities after first Card spend each anniversary year.
- Lounge Access Compare across cards →Virgin Australia Lounge
More detailsLess details
Virgin Australia Lounge access at select domestic airports every time you fly Virgin Australia domestically; enrolment in the VA Lounge Access benefit required, plus 2 complimentary Virgin Australia Guest Lounge Passes each Membership year
- Flight Discounts Compare across cards →Complimentary annual Virgin Australia return economy domestic flight between selected cities each anniversary year
More detailsLess details
Complimentary annual Virgin Australia return economy domestic flight between selected cities each anniversary year
- Travel Insurance Compare across cards →Complimentary domestic and international travel insurance for the cardholder, partner and dependent children when the return trip is paid for on the Card; covers medical emergency expenses, public transport accident up to $400,000, trip cancellation/amendment up to $12,500,…
More detailsLess details
Complimentary domestic and international travel insurance for the cardholder, partner and dependent children when the return trip is paid for on the Card; covers medical emergency expenses, public transport accident up to $400,000, trip cancellation/amendment up to $12,500, baggage/money/documents up to $10,000, travel inconvenience and COVID-19 cover; sub-limits, terms and exclusions apply
Account management
Tools for running the account — repayment helpers, not reward value.
- Status Credits Compare across cards →Up to 100 bonus Velocity Status Credits per Membership year: 50 when you spend $25,000 on eligible purchases and a further 50 when you spend another $25,000 in the same Membership year
More detailsLess details
Up to 100 bonus Velocity Status Credits per Membership year: 50 when you spend $25,000 on eligible purchases and a further 50 when you spend another $25,000 in the same Membership year
- No Additional Cardholder Fee Compare across cards →Up to 4 Additional Cards for family members or friends at no extra fee; all points earned credited to your Account
More detailsLess details
Up to 4 Additional Cards for family members or friends at no extra fee; all points earned credited to your Account
- Installment Plans Compare across cards →Plan It lets you pay off eligible transactions over $100 or a portion of your balance in equal monthly instalments over 3, 6 or 12 month terms with no interest and a fixed monthly fee
This is a repayment plan. It does not add reward value.
More detailsLess details
Plan It lets you pay off eligible transactions over $100 or a portion of your balance in equal monthly instalments over 3, 6 or 12 month terms with no interest and a fixed monthly fee
- Interest Free Periods Compare across cards →Up to 55 interest-free days on purchases
More detailsLess details
Up to 55 interest-free days on purchases
- Digital Wallet Integration Compare across cards →Compatible with Apple Pay, Samsung Pay and Google Pay
More detailsLess details
Compatible with Apple Pay, Samsung Pay and Google Pay
$350 in Coles gift cards (75,053 of 76,250 Velocity points; 1,197 left over) − $440 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.
The recorded end date has passed on the Australia/Sydney calendar. The issuer’s closing time and timezone are unknown. Check current availability; the value uses the recorded terms.
What this calculation assumes
- You make the required purchases and the bonus is paid.
- You pay the balance in full — any interest changes the outcome.
- The required spend is ordinary planned spending, not extra cost.
- You close the card before the next annual fee, or you decide keeping it is worth that fee.
- Gift card prices can change. I check them again at renewal time.
Did this help you make a decision?
Enjoy a complimentary annual Virgin Australia return economy domestic flight between selected cities after your first Card spend each anniversary year. Receive 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases in your Card Membership year.
Terms and evidence
Full current terms
Offer terms
First Year Points
70,000 points
Velocity
Second Year Points
30,000 points
With $440 annual fee
Minimum Spend
$5,000
within 90 days (about 3 months)
Cash Bonus
Offer Expires
October 13, 2026
3 days ago
Ongoing Earn Rate
1.25x points per $1 spent
Fees
First Year Annual Fee
$440
Ongoing Annual Fee
$440
From year 2 onwards
Purchase Interest Rate
23.99% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (7 changes)
- No Additional Cardholder FeeUpdated May 2026
- Digital Wallet IntegrationUpdated May 2026
- Installment PlansUpdated May 2026
- Purchase Protection InsuranceUpdated May 2026
- Travel InsuranceUpdated May 2026
- Status CreditsUpdated May 2026
- Lounge AccessUpdated May 2026
Now Virgin Australia Lounge.
Offer terms history (14 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 13 Oct 2026
Availability changed from ended to available; conditions unchanged.
No recorded term changes from the previous version.
Changes from terms version 11
No recorded term changes from the previous version.
Changes from terms version 9
Changes from terms version 8
No recorded term changes from the previous version.
Changes from terms version 6
Changes from terms version 5
Changes from terms version 4
Changes from terms version 3
Changes from terms version 2
Changes from terms version 1
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Archived notes
Earlier notes about this offer, kept as an archive — not current terms. Note dates are separate from terms publication dates.
- Expiration changed from 26/06/24 to no expiration2 years ago
- Expiration changed from 15/05/24 to 26/06/24, Bonus from 100K to 60K, Second Year Bonus from NaN to 0, Notes from Includes Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year to Enjoy a complimentary annual Virgin Australia return economy domestic flight between selected cities after your first Card spend each anniversary year. Receive 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases in your Card Membership year.2 years ago
- Expiration changed from no expiration to 15/05/24, Bonus from 60K to 100K3 years ago
- Bonus lowered from 75k to 60k3 years ago
- Bonus increased from "60000" to "75000"3 years ago
- Lowered bonus points to 60,0003 years ago
Discussion
About the current terms (published 13 Oct 2026).
Community and personal tools
Track this card, or suggest a correction. Sign-in required.