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AmEx Velocity Platinum Card - 50,000 Velocity Points Bonus ($349 Annual Fee & $65k+ Income)

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AMEX Velocity Platinum Card 80,000 Velocity Points ($349 Annual Fee & $65k+ Annual Income). This introductory offer is available to new American Express Card Members only.

Main Features:

  • Receive 50,000 bonus Velocity Points when you apply or 80,000 via referral link, after spending $1500 on your new Card within the first 3 months.

  • Earn up to 3 Velocity Points per $1 spent on eligible purchases

  • Complimentary Virgin Australia return domestic flight after your first Card spend each year. Destination Guide

  • Enjoy 2 complimentary Virgin Australia, and 2 Amex lounge invitations each anniversary year at selected airports

  • Velocity points can be used to book reward flights with Virgin Australia, Delta Air Lines, Singapore Airlines (When points are transferred to Singapore Airlines Krisflyer program, it can also be used to book other Star Alliance member flights) , SilkAir and selected codeshare flights operated by Etihad Airways and Virgin America.

  • Complimentary domestic and international travel insurance

  • Discounted International Business Class Companion Fares

  • 0% p.a. on balance transfers for the first 12 months - A one-off credit plan establishment fee of 1% applies to any balances transferred.

  • Virgin Australia Domestic Reward Chart


My referral link: http://amex.com.au/refer/rasheruLmw?CPID=100199915 (Bonus of a further 30,000 points with referral link)

You can also use any fellow OzBargainer's link from this referral wiki page: https://www.ozbargain.com.au/wiki/american_express_referrals

Referral Links

Business Explorer Card: random (3)

Referrer: 40,000 Reward Points

Centurion Personal Charge Card: random (7)

Referee gets 200,000 MR points. Referrer gets 150,000 MR points.

Related Stores

American Express
American Express

closed Comments

  • when it says new to amex only - does this include bank-issued Amex?

    Eg. Does me currently having an ANZ Amex/Visa Black card prevent me from obtaining this promo?

    • +1

      Bank issued Amex are not counted, only Amex issued cards are. So you'll be fine.

    • +1

      Yep, bank issued is not counted.
      Also, many people with other true Amexes have in the past had success in getting the points. I got 110k points on this card last year whilst I already had a Platinum Edge card.

      • Thanks!

  • +1

    Good thing I waited because previously it only offered 80k points.

  • +3

    OK OK, big kicker here. For those already with the card are you now seeing 60,000 points for the referrer ? OMG.

    • +1

      Yup! :)

    • +1

      👌

    • That's pretty insane hey?!

    • THis for new sign up? I see 50,000

  • +8

    Here the analysis I did for the points, all from Adelaide so it would possibly be slightly less points/taxes from other cities

    International:
    • Adelaide – Auckland/Christchurch return economy, 33800 points + $160 taxes flying Virgin
    • Adelaide – Auckland/Christchurch return business, 67600 points + $160 taxes flying Virgin
    • Adelaide – Bali return economy, 47800 points + $170 taxes flying Virgin Via Sydney as no direct flights anymore from Adelaide after 03/03/2016
    • Adelaide – Bali return business, 95600 points + $170 taxes flying Virgin Via Sydney as no direct flights anymore from Adelaide after 03/03/2016
    • Adelaide – Los Angeles return economy, 94000 points + $188.31 taxes flying Virgin
    • Adelaide – Maldives return economy, 90000 points + $145 taxes flying Singapore Airlines
    • Adelaide – Abu Dhabi return economy, 94000 points + $145 taxes flying Etihad
    • Adelaide – Any main European city – one way economy – 62500 points + $87.83 taxes
    • Adelaide – Los Angeles one way business, 94000 points + $127.50 taxes flying Virgin
    Domestic:
    • Adelaide – Melbourne return economy, 13800 points + $47 taxes
    • Adelaide – Melbourne return business, 27600 points + $47 taxes
    • Adelaide – Sydney return economy, 21800 points + $47 taxes
    • Adelaide – Sydney return business, 43600 points + $47 taxes
    • Adelaide – Brisbane return economy, 21800 points + $47 taxes
    • Adelaide – Brisbane return business, 43600 points + $47 taxes
    • Adelaide – Perth return economy, 33800 points + $40 taxes
    • Adelaide – Perth return business, 67600 points + $40 taxes

    This of course doesn't go into converting your points to Singapore Airlines and using their award chart, which is also quite generous and very easy to do.

    if you need any help booking these reward flights, let me know and I'll be more than happy to assist :)

    • Sorry for my ignorance, but does it really translate to a return economy ticket to LA for $350 (annual fee) +$188 tax?
      Or is there any catch?

      • The is no catch, if you can find the award availability then you can hook it!

        Sometimes transferring your points to Sinhapore airlines works better for availability of reward flights, as I said I didn't cover that above but I've done it a couple of times and is of great use.

        If you end up getting the card I would be more than happy to assist you if needed :)

  • -1

    Why are FF points so popular as incentives to CC companies as a signup bonus for people to sign up? Do they not have to pay the airline until the points are redeemed or something?

    • Just a popularity thing with customers.

      The first credit card to add frequent flier points had a massive take up, and was well known as the go to card publically for some time.

      Similar story with why supermarkets and other partners then joined.

      • -1

        Cool. Thanks for explaining. V interesting.

  • +1

    $100,000 points for $349 , yes sir!

  • Wow and I was about to sign up for 40k qantas points ($99 fee)….

    How strict are Amex on the 12 months of not having the card? I think I'm up to 7 months without an Amex issued one, but I think I read they don't really check.

    • I already had Amex Platinum Charge, when I applied for Velocity using a referral link, still got the signup bonus.

  • This with the Amex charge card and the Edge and I'm set for maximum point earning

  • +1

    OP, the spend requirements have increased significantly ($2,000 spend required in 2 months, not $500 as previously). Could you please update post?

    • Done, thanks (its still within the first 3 months).

    • There's also great information on Australian Frequent Flyer forum.

  • +1

    Oh god I signed up 2 months ago for 80k points…. WHY

  • Guys who have applied for this a year ago, what are you doing with your card? Cancel?

    • keeping mine for another year, the benefits have far outweighed the annual fee for me.

      • What do you find better about this card that isn't in the Amex Platinum Edge which is $195 per year and gives Amex rewards which can be transferred to your choice of FF points (incl Velocity)?

        • +2

          4 x lounge access - 2 x virgin (dom) & 2 x amex (int)
          Discount companion business fares have made it affordable for partner to come along on a couple of my work trips, and the extra comfort of business keeps me in her good books on long haul ones. (Mrs points are more valuable than velocity points ;)

          and the points earning structure being slightly different suits my spending a bit better.

          I've covered the annual fee in savings on AMEX offers alone without having to purchase anything I wouldn't already have purchased.

  • How do you generate a referral link?

    • Hey mate,

      Head over to here - https://www316.americanexpress.com/iFormsSecure/un/iforms.do…

      Once you’re in the referral portal, log in. You’ll then see the offers outlined that you can refer others to via many outlets.

      Cheers

      • Thanks!!

      • Hmm its saying not eligible

        • How long ago did you activate your card?

        • Almost a year ago

        • @zrach: Interesting, could be an issue, might need to give them a call or send them a message mate

  • Does anyone know which (if any) credit reporting agency (Veda, D&B, Experian, etc) Amex uses to determine if you qualify?

    • +1

      Veda for me. I have Veda alert setup and they're the only company that uses the new "Positive Credit Reporting" which Australia has brought in

      • +1

        Thanks for your super quick response :) will request my report from Veda!

      • Yeah I recently saw that. What does the positive and negative credit reporting mean? I suspect that's why my Westpac credit got declined because if negative rating.

        • As Amex report each and every month whether you paid your bill or not, it reflects well on your credit report if you have been paying your bills. Previously credit card agencies (like banks) could only see the total amount you applied for, they have no idea whether you have the card still or are struggling to pay for it.

          It comes from America and it's the way they get their credit rated.

        • @dazzywazzy:

          Curious how was credit reporting is negative given all my credit card is paid in advance. Anyway thanks for that info. Is it cheap to subscribe to Veda and are there any benefits to it? Quick response!

        • @nightelves:

          No worries mate, it's $89.95 a year and you get 1 or 2 (can't remember) full credit report each year.

          The main reason I have it is that it emails you everything that hits your credit file, normally within 12 hours, making it really hard to be a victim of identity theft!

        • @dazzywazzy:

          Thanks mate that might just get you a referral. We'll see how my credit rating goes near the end of next month

        • @nightelves:

          Awesome, good luck mate. FYI when I applied my credit rating was only 558 and I had 3 cards already (non with Amex). Amex approved my application instantly online and didn't even ask for proof of income which I found quite strange. Had the card in my hands within 3 days!

          Hope that helps :)

        • @dazzywazzy:

          I won't be applying for just one card.

        • @nightelves: Good luck then mate :)

        • @dazzywazzy:

          Hi just checking as I'm looking at my credit rating. There's a part on there that says Data Level: Negative

          Do you know what that mean?

        • @nightelves: Which site did you use mate? I'll do mine and see what mine comes up with in regards to Data Level. I have my full credit report from 3 weeks ago and it is clean as a whistle, so if my Data Level comes up with Negative you know you it's probably nothing

        • @dazzywazzy:

          So at the moment yours show up negative as well?

        • @nightelves: Nope….But where did you get your credit rating from? Are you talking about your credit score or your actual credit file?

        • @nightelves: Feel free to PM me if it's easier mate.

  • Looks great, except they've left Darwin off the map:

    Complimentary Virgin Australia return domestic flight after your first Card spend each year

  • This card is pretty good and AMEX are a bit lax with the conditions about having another AMEX. I was holding a QF AMEX card when I applied for this one a few months ago and got the bonus points. The bonus points post straight away during the monthly sweep after you meet your spend.

    As for the annual fee, if you take advantage of the AMEX statement credit offers this can easily offset the annual fee along with the free flight. So far in the last 3 months I've had $70 in statement credits.

    Where can you go with these points?
    some examples
    MEL > NRT in business with SQ = 104,000 point + $86 taxes
    MEL > LAX in business with VA = 96,000 points + $121 taxes
    MEL > NAN (FIJI) in business with VA = 49,500 points + $78 taxes

    you can also transfer the 100K points to krisflyer which will convert to 74K points

    There is a good guide here for those interested in some more details around the velocity program.
    http://www.pointhacks.com.au/velocity-guides-updated-june-20…

    <Mod: Do not solicit>

  • Forgot to mention for anyone that wants get an idea of their credit score you can use https://www.creditsavvy.com.au for free. Just fill out your details and away you go.

    • +2

      Be careful though… Creditsavvy.com.au is managed by a mob named 'Society One'. They'll spam you for months with credit offers after you check your score with both email and mail. Took me ages to unsuccessfully unsubscribe (had to threaten them with a complaint to ACMA before I was successful). Also, creditsavvy displayed a very different score to the one I had showing in Veda (which I pay a subscription to access) - so not that reliable.

  • Is anyone able to advise how quickly the referral points usually come in?

    • +1

      Within 72 hours of the person applying and being successful mate

    • Shouldn't take much time after you meet the requirements. Saying that AmEx T/C says it may take upto 8-10 weeks.

  • That's the bonus points mate, the referral points are posted within 72 hours

    • REFER A FRIEND' TERMS AND CONDITIONS
      Don't Spam!

      American Express discourages spamming. You should only send referral messages to friends and family who genuinely want to receive them. By participating in ‘Refer a Friend’, you agree to these ‘Refer a Friend’ terms and conditions:
      Only Friends & Family: You must only send referral messages to close friends and family. Do not market or promote this offer through paid advertising channels or to the public at large (i.e. on public blog sites, search engines or in sponsored ads). .
      Ask Their Permission First: You must ask the person for their permission to send them an email about your Card product. Sending emails to people without consent is considered spam.
      The Offer: If you hold an American Express Velocity Platinum Card, you will earn 60,000 Velocity Points when you refer a friend by 31 July 2016. Your friend must apply by 15 August 2016 using your link and be approved for you to receive your points. Your friends reward will be 100,000 Velocity Points when they apply by 15 August 2016 for the American Express Velocity Platinum Card, are approved, and spend $2,000 in the first 3 months of Card Membership.
      Cap Referrals: You may only send referral messages to a maximum of 20 friends. The amount of Velocity Points you may receive under the 'Refer a Friend' program for this 60,000 Velocity Points offer is capped at 200,000 points for referrals made between 1 July 2016 to 31 July 2016. This cap is in addition to the 200,000 point cap you receive for the year under the 'Refer a Friend' program.
      Your friend must apply from the referral link we have given you. If your friend applies from a separate link or applies independently (i.e. if they visit americanexpress.com directly) you will not receive your rewards.
      You will only receive rewards if your friend’s Card application is approved (in accordance with our usual Card application processes and assessments). Note: We will not tell you if your friend’s Card application is approved or declined for privacy and confidentiality reasons.
      You cannot refer a friend who already has one of our cards or has held one in the last 12 months.
      You must be enrolled in Velocity Frequent Flyer to receive bonus points.

      It may take 8 to 10 weeks to be credited bonus points if you are successful.

      • Mate, I think you may getting the question of "referral points" and "bonus points" mixed up. He asked how quickly the "referral" points come in. That is the 60,000 when you "refer" a friend (was 20,000 previous to this deal). You can do this once you have the card yourself and have already received your "bonus" points.

        The "bonus" points you are speaking of are the 100,000 velocity points for signing up.

        Hope that clears any confusion mate :) I am speaking from experience as I've had this card for 1 year and have had 3 "referrals" - they are credited within 72 hours. The quickest I had was 24 hours, the longest was 72 hours.

        Cheers

        • +1

          The information is from Refer a friend terms and conditions. By the sound of it, it looks like they are calling referral points "bonus points" as the other one is called sign up credit. I called Amex just to double check, and they confirmed it may take upto 8-10 weeks. But as you mentioned instant - 72 hours is a more realistic timeframe, and most people are getting the points within that period.

          :) the sooner the better

        • @rashed: Cool mate :)

  • +1

    I can't believe I got this card a week ago, then referred my wife the next day. Missed out on 60k points by a week!!!

    • +2

      I know a couple who missed it by an hour or so.

  • Hi all. Bad news. Received my referral (I assume from my husband's application which was approved last night) and only received 20,000 points. Has anyone else received the full 60,000? I wonder if the increase to 60,000 for applications completed from today (1st July).

    • The 60,000 is a special July only "super charge" your points promotion from Amex. You may have just missed out by a day, but it's still worth messaging them via their secure message facility to see if they will compensate you, they are normally really good!

      • 1st July was never mentioned - in my account it says "Refer your friends by 31 July 2016 and for each friend who applies using your referral link by 15 August 2016 and is approved, you will earn 60,000 Velocity Points. You can earn up to 200,000 points in July by referring friends."

        following up via phone now…

        EDIT: AMEX call centre rep explained that they credit 20,000 points first, and then the remaining 40,000 points are awarded once I meet my OWN card spend (my card is only 1 week old - I missed out on the 100,000 points promo myself by a whisker -so apparently I need to meet the minimum spend in order for these points to come through).

        So no concerns regarding timeframe thankfully :)

        • Awesome news, start planning that trip :)

        • @dazzywazzy: further update. 60,000 points came through after the initial 20,000 - now wondering if these were two separate referrals. Either that, or the July bonus is 20,000 points PLUS 60,000. Is anyone else who has successfully referred this month able to confirm the amount of points received?

        • @The Champagne Mile: so 80,000 in total? Wow. Would be interested to see if that was intended, or someone used your referral link.

  • They don't mention much about it so they?

    I found this in their terms:

    Cap Referrals: You may only send referral messages to a maximum of 20 friends. The amount of Velocity Points you may receive under the 'Refer a Friend' program for this 60,000 Velocity Points offer is capped at 200,000 points for referrals made between 1 July 2016 to 31 July 2016. This cap is in addition to the 200,000 point cap you receive for the year

    Also http://www.pointhacks.com.au/american-express-referral-progr… who says its July. Good luck!

    • I think that just means that the cap of '200,000 points' for the Refer a Friend program is between 1 and 31 July, but definitely don't see anything that states "60,000 points referral bonus only valid from 1 July' or similar. Certainly nothing in the Terms and Conditions.

  • anyone with an existing amex (ie. edge, reserve, charge) successfully apply for the velocity platinum using the referral link and get the signup bonus of 100K?

    • I did, there are other cases here, and at AFF too.

      • What about Qantas FF Card ($0 Annual Fee)

        • There are many people who claim they have done this with existing Amex cards, especially on the Aust FF group website.

          Here is a copy paste of a couple:

          • Re: 100,000 velocity points for velocity platinum amex with referral
            That was me. I can confirm a couple of scenarios, for anyone concerned:

          Scenario 1 - current AMEX issued card holders. I am an AMEX Platinum Charge cardholder. I applied an was approved for this card 2 weeks ago (lousy timigng just before the referral increase!) but can confirm I received the referral bonus (80,000 points at that time)
          Scenario 2 - cancelled AMEX issued card less than 12 months ago. My husband cancelled his AMEX Premium card just one month ago and signed up yesterday. He was advised by AMEX call centre today that he will be receiving the referral bonus.

          So Amex appears to be quite 'lax' when enforcing the rules.

          • Re: 100,000 velocity points for velocity platinum amex with referral
            Another data point: I signed up while having another Amex CC (by Amex), indicating so in the application form, and was approved and got my sign-up bonus. So far I haven't heard of any one being denied the sign up bonus. Amex do (from what I hear) limit customers to two cards at a given time (e.g. if you already have 2 active cards, they won't open you another one).

          I would say go ahead and give it a shot mate, judging by this feedback in the community!

        • @dazzywazzy:
          Missus and I have one primary card each. we are also the supplement card holder of each other.
          Do I qualify?

        • @Jamesx: Which Amex card do you both currently have mate? How long have you had them?

        • @Jamesx: You should be fine. I was the author of 'scenario 1 and 2'above. As well as being a primary cardholder at the time of applying for this, and had no issue getting the bonus points. You can refer your wife after you sign up :)

        • @Jamesx: primary card and supplement card with different numbers or same numbers as commbank Amex?

  • Couldn't edit my post above but found this great deal from Delta, which is bookable through the Virgin site using your 100,000 bonus points:

    • Melbourne/Sydney/Brisbane – San Francisco return economy, 89600 points + $185 taxes flying Virgin/Delta

    With the annual fee of $349 this makes it only $534 return to San Fran. Need to be somewhat flexible with booking dates, however still a great deal!

  • how much $ is 100,000 worth?
    You might make it back for first year free, what about 2nd year? do you cancel you card or pay $349 annual fee?

    • +1

      I will be cancelling in the next 6 months after domestic flight used- mainly because I plan to then apply again down the track (as this card has a history of significantly high sign on bonuses_):)

    • Each airline has different $$$ values on their points, but generally you can sometimes purchase miles from airlines when they have promotions for around 2.5c - 5c per point depending on the volume of points.

      If you look at the classified here on OzBargain people have been getting rid of 100,000 points for about $1000, however this is "supposed" to be done as family members only so does have some risk attached to it if you went down that way.

  • Where & what do you spend you $2000 using AMEX?
    None of bills accept AMEX. filling up petrol and grocery isn't gonna reach it.

    • +4

      The best way is to tie in your Paypal account with your AMEX. Then use Postbill Pay method on the bottom of each bill. The Postbill Pay website accepts PayPal. No Fees and full points!

      https://paypaperbills.postbillpay.com.au/postbillpay/default…

      • The Postbill Pay website accepts PayPal. No Fees and full points!

        So no credit card surcharge even the company stated it on the bill?

        • +2

          Paypal absorbs all the fees. You'll only get charged fees if you pay direct with amex.

      • Thanks for the tip! Never realised it took paypal

    • +1

      Have heard of people on here doing the following:

      • Buy a $2000 Fully Flexible Qantas fare 1 yr in advance or applicable Business Class Flexi Fare
      • Get the bonus points and wait at least 1 more statement period
      • Cancel fare and get refund to card

      I haven't personally done it, but many others attest to its success

      Another way is to send a friend $2000 via Paypal friends and family. Get them to cash out to their bank, withdraw and give back to you to pay your card off. Paypal will charge you 48.30 AUD to do this, however it's a quick fix if you needed one.

      • are you 100% sure that sending cash to your friend via paypal will work since transactions like this are treated as cash advancement and not a purchase.

        How do I obtain cash using a Card? (Taken from Amex Australia Faqs)

        With credit Cards, enrol in the Cash Advance facility to get cash billed to your Card account. With charge Cards, access cash from your personal bank account through the Express Cash ATM network. You can also get cash from any Travel Service Office or from ATMs that accept American Express.

        • 99% sure as it comes up on your statement the same as everything else. I just checked my last month statement where I did this very thing for a much smaller amount, and it came up in the same column as normal purchases. Nothing about a cash advance. I also earnt points on the transaction.

          You could always test for say a $1 yourself to make sure just in case yours is different?

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