American Express launches 3 new credit cards in partnership with Velocity Rewards
Posted June 15th, 2011 and last modified April 11th, 2013
Credit Card Deals
American Express and Velocity Rewards have partnered to release numerous new credit cards in the Australian market: the American Express Velocity Platinum Card, American Express Velocity Gold Card, American Express Velocity Business Card and American Express Velocity Escape Card.
National research released today by American Express and Velocity Rewards has noted that Australians are now more likely to be investing in business class air travel when booking their holidays (63% of respondents) as opposed to when they are travelling for work (54% of respondents). Businesses in Australia are paying for less than one third of all trips taken by business class passengers.
Furthermore, the research revealed that business class is now becoming more affordable for the everyday Australian, with approx. 1 in 4 Australians having flown business class previously. It was interesting to note that of the Aussies who have flown in business class before, 47% of those had a household income of less than $120,000 per annum.
American Express Velocity Credit Cards
American Express Velocity Escape Card
- Receive 7500 bonus Velocity Rewards Points on your AMEX Velocity Escape Card as an introductory offer if you spend $300 on your card within the first three months (card approved by Feb 2013)
- Earn 2 Velocity Points for every $1 spent on your Card in Australia with the Virgin Australia group of airlines and 1 Point for every $1 spent everywhere else
- Earn 1 Velocity Rewards Point per $1 spent on all other purchases on your card
“More and more Australians are travelling business class today, thanks to the increasing popularity of frequent flyer programs, and the fact that there is now more competition in this segment of air travel. The national research shows that almost one third of people who have flown business class for leisure have done so within the last six months” says Velocity Rewards General Manager Phil Gunter.
Of those individuals who have flown business class, 44% had flown business class for both overseas and domestic flights.
The research revealed the following international destinations to be the most popular amongst American Express members in the last 12 months:
- Los Angeles, USA
- London, England
- Paris, France
- Hong Kong, China
- New York, USA
Rewards programs such as Velocity Rewards and American Express rewards programs are really helping Australian consumers to have the opportunity to fly business class. With highly valuable direct-earn credit cards on the market, over 1.2 million consumers are using both their own rewards points or someone else’s to purchase business class tickets.
The Vice President of Consumer Products for American Express, Rob Hennin, said that “”The journey is an important part of any holiday and flying business class is almost guaranteed to make a long flight more enjoyable. People are realising that you don’t necessarily have to dip in to your savings to fly in style when a credit card can help you get there.”
When it comes to using a credit card to earn points to pay for flights, more than 56% of those surveyed said they were likely to. Of those that said they would not use a credit card to earn points, 32% said they felt it would be too difficult, and 21% were weary of switching to a card that earns points as they felt it might be too much of a hassle for them.
The new American Express Velocity Platinum Card
American Express and Velocity have partnered to help Australians fly business class sooner, releasing the American Express Velocity Platinum Card – the first Australian credit card to offer unlimited two-for-one international business class fares.
With the American Express Velocity Platinum Card, every time you make a purchase of a full price international business class fare with V Australia or codeshare partner flights with Delta Airlines, you will receive a complimentary companion fare.
The American Express Velocity Platinum Card is now the highest direct-earn credit card for the Velocity Rewards program with an earn rate of 1.5 Velocity Points per $1 spent on any purchase and 3 points for every $1 spent with the Virgin Australia group of airlines.
Velocity Points can be redeemed for flights, accommodation or up to 700 other options through the Velocity Rewards Store.
As far as premium airline co-brand cards on the market, "The American Express Velocity Platinum Card is the best rewards card in Australia for the high spending frequent flyer. A domestic traveller who spends $2,000 per month on the card will receive $834 of value from the card annually. For an international traveller the net rewards value is $1,319 which is impressive when you consider the card has an annual fee of $349." said Jeremy Cabral, Editor of CreditCardFinder.com.au.
Additional to these benefits, the American Express Velocity Platinum Card offers a complimentary economy return domestic flight each year of membership, and domestic and international travel insurance and purchase protection.
Read our review of the American Express Velocity Platinum Card for more details.
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