Credit cards are vast and varied, offering a range of options to suit different financial needs and lifestyles. Among the many choices available, the American Express Velocity Platinum Credit Card stands out for its unique blend of rewards and benefits tailored specifically for frequent Virgin Australia flyers. With its ability to earn Velocity Points at a rapid pace and provide valuable travel perks, this card is an attractive option for those who travel frequently and want to maximize their rewards.
In this article, we will learn about the details of the American Express Velocity Platinum Credit Card, exploring its pros and cons, fees, and application process to help you decide if it is the right choice for you.
Why Should I Get an American Express Velocity Platinum Credit Card?
The American Express Velocity Platinum Credit Card is an excellent choice for frequent Virgin Australia flyers who want to maximize their Velocity Points earning potential and enjoy premium travel benefits. Here’s why you should consider getting this card:
Earn Velocity Points Faster
The card offers an impressive 2.25 Velocity Points per $1 spent on eligible Virgin Australia purchases and 1.25 Velocity Points per $1 spent on all other eligible purchases. This accelerated points earning can quickly add up, allowing you to redeem for flights, upgrades, and other rewards.
Enjoy Valuable Travel Benefits
The card comes with a complimentary domestic return Virgin Australia flight each year, as well as two Virgin Australia lounge passes and two Centurion Lounge passes annually. These benefits can significantly enhance your travel experience.
Comprehensive Insurance Coverage
The American Express Velocity Platinum Card provides comprehensive travel insurance, including cover for trip cancellations, delays, and lost or damaged baggage. This can provide valuable peace of mind when travelling.
Seamless Mobile Wallet Integration
The card supports Apple Pay, Google Pay, and Samsung Pay, allowing you to make contactless payments with your smartphone. This added convenience can be especially useful if your physical card is lost or stolen.
Earn Status Credits
Spend a minimum of $50,000 (on Eligible Spend) within your membership year and receive 100 Velocity Frequent Flyer Status Credits, helping you achieve higher elite status levels.
Pros and Cons of American Express Velocity Platinum Credit Card
Fees and Interest Associated with American Express Velocity Platinum Credit Card
| Fee/Interest | Amount |
|---|---|
| Annual Fee | $375 |
| Foreign Transaction Fee | 3% of the converted amount |
| Interest Rate | 23.99% p.a. |
How to Apply for American Express Velocity Platinum Credit Card?
To apply for an American Express Velocity Platinum Card, The key steps are:
- Visit the American Express website and navigate to the Velocity Platinum Card page. This will provide an overview of the card’s features and benefits.
- Click the “Apply Now” button to begin the online application process. You will need to provide personal information such as your name, date of birth, income, and contact details.
- You will also need to provide financial information, including your bank account details and credit history. American Express will assess your creditworthiness based on factors like your credit score and any outstanding debts.
- The application process can typically be completed in around 10 minutes. Once submitted, American Express will review your application and provide a decision within 15 days.
- If approved, you will receive your new Velocity Platinum Card and can start earning Velocity Points on your purchases.
Eligibility Criteria to Apply for American Express Velocity Platinum Card
The key requirements to be eligible for the Velocity Platinum Card are:
- Being at least 18 years old
- Having a good credit history with no payment defaults
- Having an Indian or multinational bank account in India
- Not having filed for bankruptcy in the past 7 years
The Final Words
The American Express Velocity Platinum Credit Card is a premium offering that caters to frequent Virgin Australia flyers. With its lucrative Velocity Points earning potential, valuable travel benefits, and comprehensive insurance coverage, it’s a card worth considering for those who can maximize its features.
However, the high annual fee and interest rate may not suit all cardholders, so it’s essential to carefully evaluate your spending habits and travel needs before applying.