American Express Velocity Business Card
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Presenting the new American Express Business Velocity Card designed especially for business travellers like you.
With a range of business benefits, you can escape the fast lane sooner with the NEW American Express Velocity Business Card.
Enjoy access to a high earn rate, two complimentary single entry Virgin Australia lounge passes each year and business benefits like statements that download directly into accounting software, and up to 51 credit-free days to help with cash flow.
| Product Name | American Express Velocity Business Card | |
|---|---|---|
| Offer end date | 31 May 2013 | |
| Annual Fee | $249 p.a. | |
| Interest Free Period | up to 51 days | |
| Minimum Monthly Repayment | 100% | |
| Credit Card Type | American Express | |
| Late Payment Fee | $20 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
Take a look at how the American Express Velocity Business Card rewards both you and your business.
- Earn 2 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
- Escape the hustle and bustle of the airport with two complimentary single entry passes to the Virgin Australia lounge each year
- Put all your expenses on one statement and download it into Quicken™, MYOB©, Microsoft® Excel and more
- Complimentary Domestic and International Travel Insurance when you purchase tickets with your Card
- Supplementary Cards available for only $99 p.a. each8, with all Points earned credited to your Velocity Account
- Enjoy up to 51 credit-free days for increased cash flow and added breathing space
Overview of the AMEX Express Velocity Business Card
This card has a series of benefits which make it a class leading co-brand platinum credit card.
Velocity Rewards
- Earn 2 Velocity Rewards points per $1 spent when you make purchases in Australia with the Virgin Australia group of airlines including Virgin Australia, V Australia, and Pacific Blue.
- Earn 1 Velocity Rewards Points per $1 spent on all other purchases on your card.
- No points capping – meaning you can earn as many points as you can, so long as you have a current account in good standing.
- At the end of each month, your Velocity Points are automatically transferred to your Velocity Rewards account
- Complimentary and automatic Velocity Rewards Program membership.
Business Benefits
- Download your statement with a complete GST breakdown directly in to Quicken, MYOB or Microsoft Excel. This will help support your GST input tax claims and make preparing your quarterly BAS easier.
- Enjoy up to 51 credit free days to pay off your balance
- No preset spending limit – you can spend on the things that you need, helping improve your business’s purchasing power through the user of the American Express Velocity Business Card
Redeeming points with the Velocity Rewards Program
There are a number of options available to you for points redemption with the Velocity Rewards program:
- Use your points for booking flights with ‘any seat’ and ‘any time’ redemptions. If a seat is available on a flight, you can buy that ticket using your Velocity Rewards points
- Book flights to over 600 destinations worldwide with the Virgin Australia group of airlines and partner airlines which include Etihad, Delta Airlines, Virgin Atlantic, Skywest, REX, and Malaysia Airlines.
- Use your points to book hotel accommodation, rental cars, or 700 other options available within the Velocity Rewards Store.
How many Velocity Points do you need to fly from…
- Darwin to Melbourne? 16,900 Velocity Points + $29
- Sydney to Samoa? 29,900 Velocity Points + $46
- Brisbane to Nadi (Fiji)? 17,900 Velocity Points + $111
- Sydney to Perth? 16,900 Velocity Points + $33
- Melbourne to Christchurch (New Zealand)? 16,900 Velocity Points + $55
- Perth to Brisbane? 17,900 Velocity Points + $36
- Denpasar (Bali) to Brisbane? 26,900 Velocity Points + $110
Note: the fares above are based on one-way Reward Class fares and are accurate as of 24/06/2011. Additional baggage charges may be applicable.
Other Benefit: Insurance Cover & Customer Service
- Complimentary Domestic Travel Insurance & International Travel Insurance for both you and any supplementary cardholders
- Travel Inconvenience Cover for any flight delays, missed connections or delayed luggage
- Emergency Card Replacement. With the American Express network of over 2,200 Travel Services offices worldwide, you will be able to get a replacement card to you virtually anywhere in the world
- 24/7 Global Customer Service - wherever you are in the world, whatever the time of day, American Express has a 24/7 global customer support hotline for you to call.
- Online Fraud Protection Guarantee meaning in the event of credit card fraud, you won’t be held responsible for any unauthorised charges online as long as you notify us immediately.
Application Criteria for the American Express Velocity Business Card
The following criteria applies for new applicants:
- You are over 18 years of age
- You have a good credit history and no payment defaults
- You are a permanent resident or citizen of Australia or hold a current Business Long Stay Visa (Subclass 457)
- You earn a personal gross (pre-tax) annual income of $24,000 or more
When you apply online for the American Express Velocity Business Card, be sure to have the following information ready and available:
- Latest tax year financial details
- Australian Business Number (ABN)
- Your address, and if you’ve lived there less than five years we’ll also need your previous address
- Your driver’s licence number (if you have one)
- Merchant details (if applicable)
- Your Velocity membership number if you are already a Velocity member
Read the American Express Velocity Business Card terms and conditions.
| Minimum Income | $24,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good |
| Annual Fee | $249 p.a. | |
|---|---|---|
| Minimum Repayment | 100% | |
| Late Payment Fee | $20 | |
| Over Limit Fee | $0 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $99 |
Pros
- Card holders have the option of downloading credit card statements to business and account management software to easily manage business spending.
- Two complimentary single entry passes to the Virgin Australia lounge every year for the card holder to enjoy.
Cons
- An incredibly high annual fee of $249, so milk the rewards and spend on this card in order to make it cost effective.
- A high supplementary card fee of $99.
Read the American Express Velocity Business Card terms and conditions.
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Hi. The card looks great. Just wondering when the annual card fee is due?
Thanks for your question Ryan.
The annual card fee is due with your first statement.
Hope this helps