American Express Velocity Escape Card – Review & Application

Information verified correct on May 25th, 2016
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Earn 7,500 Velocity Points when you signup and continue to earn points as you spend. Lower your debt with a balance transfer offer and avoid any ongoing annual fees.

Most frequent flyer credit cards require that you pay an ongoing annual fee, but the American Express Velocity Express card doesn’t charge any annual fees. This card comes with an introductory balance transfer rate of that stays in place for the first 12 months. If you apply before a given date and meet basic spending criteria, you can earn 7,500 bonus Velocity Points.

Cardholders can access American Express Travel Services for different kinds of travel assistance, and purchases they make using this card receive complimentary insurance covers. Additional cards linked to your primary card also earn Velocity Points.

Product NameAmerican Express Velocity Escape Card
Rewards ProgramVelocity Rewards
Balance transfer rate (p.a.)0% p.a. for 12 months with 1% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (20.74% p.a.)
Balance Transfer Limit70% of available credit limit
Purchase rate (p.a.)20.74% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$2,000
Minimum Monthly Repayment2.5% or $30
Minimum Income$40,000
Card TypeAmerican Express
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$40,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$2,000
Annual Fee$0 p.a.
Minimum Repayment2.5% or $30
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)3% of transaction value
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • This reward card comes with $0 annual fee.
  • Enjoy an interest-free period on your purchases up to 44 days if you settle the outstanding balance every month
  • There's no additional charge for a supplementary card.
Cons
  • Applies an interest rate of 20.74% p.a. for purchases
  • $40,000 minimum income required per year to apply for this card.
Rewards ProgramVelocity Rewards
Bonus Points on Sign-up7,500
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) CapUncapped
Points ExpiryNever

American Express Velocity Escape Card review

If you’re looking for a frequent flyer credit card and don’t want to pay any annual fees, the American Express Velocity Escape Card requires your attention. This card links to your Velocity Frequent Flyer program account, and the Velocity Points you earn using this card accrue in your frequent flyer account. You can redeem your points for flight tickets and a range of other rewards.

If you use this card to transfer balances from existing cards you can save in the form on interest, given the promotional balance transfer rate for 12 months. Access to American Express Travel Services can simplify how you plan your travels.

Benefits of the American Express Velocity Escape Card

If you’re considering getting the American Express Velocity Escape card you can look forward to a number of benefits, and here’s what you can expect.

  • Ability to earn uncapped points faster. To earn 7,500 bonus Velocity Points offer, all you have to do is spend $300 on your card in the first three months. When you use this card to pay for Virgin Australia tickets, you earn two Velocity Points for every dollar spent. What also helps is that there is no cap on the maximum number of points you can earn, and your points don’t expire as long as your account remains active.
  • Complimentary insurance covers. Through refund protection you can expect a credit in case a retailer refuses a refund on an unused eligible item within 90 days of purchase. Through purchase protection, you can look forward to refunds or repairs of eligible items lost or accidentally broken within 90 days of purchase.
  • American Express Travel Services. This service assists you in making travel plans, and it has more than 2,000 travel and foreign exchange services locations in over 140 countries.
  • Apple Pay. The American Express Velocity Escape Credit Card is eligible for use of Apple Pay. This provides the users a more convenient way in making secure payments with the help of Touch ID. Learn more here.

Features of the American Express Velocity Escape Card

Given that this card does not charge any ongoing annual fees, the features it offers deserve a mention:

  • Annual fees. This card, as mentioned, does not charge any annual fees.
  • Earn Velocity Points. Every dollar you spend with Virgin Australia earns two Velocity Points, and every dollar spent on other eligible purchases earns 1 Velocity point.
  • Bonus points. If you spend $300 or more in the first three months, you can earn 7,500 bonus Velocity Points. This introductory bonus points offer applies to new American Express Card Members only.
  • Balance transfer offer. You can take advantage of a special balance transfer rate for the first 12 months if you apply before . You can transfer a maximum of $10,000.
  • Interest-free days. By paying your card’s outstanding balance in full every billing cycle you can make use of up to 44 interest-free days on purchases.
  • Additional cards. You can request an additional card for anyone aged over 18 years, and additional cards also earn Velocity Points.
  • Online fraud protection guarantee. This ensures that you’re not liable for any unauthorised or fraudulent charges made using your card.
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How to apply for the American Express Velocity Escape Card

You can apply for the American Express Velocity Escape card online, and to get started, simply complete the secure online application and fill out your details, then wait for the approval of your card.

Eligibility criteria:

  • You’re at least 18 years old
  • You’re a permanent Australian resident, an Australian citizen, or have a valid Business Long Stay Visa (subclass 457)
  • You earn a minimum of $40,000 p.a. as pre-tax income
  • You have good creditworthiness

Required documents:

  • Your complete name, marital status, number of dependents, date of birth, and driver’s license number
  • Your residential address, residential status, phone number, and email address
  • Your employer’s name, phone number, and address
  • Details of your income, expenses, assets, and liabilities

The American Express Velocity Escape card is a competitive frequent flyer card that doesn’t charge any annual fees. The fact that new cardholders can earn bonus Velocity Points is another plus, and the various options when it comes to redeeming accumulated points certainly help. Individuals hoping to transfer balances from existing cards to save on interest can benefit by getting this card, and its complimentary purchase insurances can provide some peace of mind. This is not the only card of its kind though, so it is best that you compare a few before deciding.

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Frequently asked questions

When do I earn Velocity Points?

You earn Velocity Points when you make purchases using your American Express Velocity Escape card. Balance transfers don’t earn Velocity Points.

How quickly can I get a replacement card?

Through American Express’ Emergency Card replacement service you can get a replacement card within one business day just about anywhere in the world.

Can I use this card to make contactless purchases?

Yes, you can use this American Express credit card to make contactless payments for purchases less than $100.

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71 Responses to American Express Velocity Escape Card – Review & Application

  1. Default Gravatar
    john | April 26, 2016

    I already have an Amex Qantas Express Discovery Card. Am I still eligible for the velocity points? I really need a velocity points card.

    • Staff
      Anndy | April 26, 2016

      Hi John,

      Thanks for your inquiry

      The 7,500 bonus Velocity Points offer is only available to new American Express Card Members. Those who currently hold or who have previously held any other Card product offered by American Express Australia Limited in the preceding 12 month period are NOT eligible for this offer.

      I hope this answers your question.

      Cheers,
      Anndy

    • Default Gravatar
      John | April 27, 2016

      That doesn’t make sense because I had an American express card in my name before I applied for the Amex discovery card but was awarded points. Are you certain this applies to all Amex cards or is it just selected card?

    • Staff
      Anndy | April 27, 2016

      Hi John,

      Thanks for getting back. Just to clarify, the points that I was referring to is the signup bonus points of 7,500. I’ve sent you an email with the relevant link to the Terms and Conditions for the American Express Velocity Escape Card where you could verify how to earn the bonus points.

      I hope this helps.

      Cheers,
      Anndy

  2. Default Gravatar
    Hank | April 19, 2016

    I have a corporate AMEX card in my name. Am I still eligible for the bonus points?

    • Staff
      May | April 19, 2016

      Hi Hank,

      Thanks for your inquiry.

      To be eligible for the 7,500 bonus Velocity points, you have to apply and get approved for the American Express Velocity Escape Card. Then spend $300 on your new card within the first 3 months. To apply for the card, please click on the ‘Go to site’ button and head over to American Express’ website.

      I hope this helps.

      Cheers,
      May

  3. Default Gravatar
    Nicki | February 26, 2016

    I have an AMEX as a secondary card to an ANZ Visa credit card – does this mean I would not be eligible to the bonus Velocity points, even though I am not a direct customer of AMEX? Thank you.

    • Staff
      Jonathan | February 26, 2016

      Hi Nicki, thanks for your inquiry!

      As long as you have not been a primary cardholder of an American Express credit card within the last 12 months you will be eligible to apply for this card offer and receive the bonus points.

      Cheers,

      Jonathan

  4. Default Gravatar
    Ed | February 20, 2016

    How do you “apply online through finder.com.au” such that you are potentially eligible for 15,000 introductory points (instead of 7,500 introductory points)?

    • Staff
      Jonathan | February 22, 2016

      Hi Edward, thanks for your inquiry!

      You can apply for this card offer by pressing the ‘Go to Site’ button where you will be redirected to the secure American Express web form to apply for the 15,000 introductory points offer.

      Cheers,

      Jonathan

  5. Default Gravatar
    Shannon | February 16, 2016

    I am considering applying for this card for the frequent flyer points. I purchased almost $5,000 of virgin tickets about a month ago, could I be credited for these points if I get the card or is that purchase too long ago?

    Thanks

    • Staff
      Debbie | February 16, 2016

      Hi Shannon,

      Thanks for your inquiry.

      To be eligible for the bonus points offer, you should apply before 29 February 2016, be approved, and spend at least $300 using your new card within the first 3 months. Please note that this offer is only available to new American Express Card members.

      I hope this helps.

      Cheers,
      Debbie

  6. Default Gravatar
    David | February 15, 2016

    I currently have an AMEX credit card account with a supplementary card for my wife in her name. If she was to apply for this card, would she still qualify as a new customer and be entitled to the bonus points?
    Thanks

    • Staff
      Jonathan | February 16, 2016

      Hi David, thanks for your inquiry!

      Yes she would qualify as a new customer and be eligible to apply for the bonus points, provided that she has not been a primary cardholder within the past 12 months.

      Cheers,

      Jonathan

  7. Default Gravatar
    Mike | January 13, 2016

    Hi, I already have a CBA American Express, do I still qualify for the 15,000 bonus velocity points once I spend $300 within the 1st 3 months?
    Thanks

    • Staff
      Ally | January 14, 2016

      Hi Mike,

      Thanks for reaching out.

      Please note that customers who currently hold or have previously held an AMEX card issued by another bank (ie. a dual Visa/ AMEX) are still eligible to receive bonus points offers directly from AMEX.

      I hope this has helped.

      Cheers,
      Ally

  8. Default Gravatar
    Shabda | November 2, 2015

    Hi,
    I have 15,000 odd points on my Velocity Escape American Express credit card. I want to transfer the points from the card to Velocity Frequent Flyer. Is there a way to do it? or shall I be able to book flight from the card itself using my points?

    Looking forward to hearing from you.

    Regards,
    SA

    • Staff
      Jonathan | November 3, 2015

      Hi Shabda, thanks for your inquiry!

      The Velocity Escape card earns points to the Velocity Rewards program. If your points have accumulated to another program it would be best to contact American Express directly to inquire about transferring your points to the Velocity Frequent Flyer program on 1300 366 105 (24 hours a day, 7 days a week).

      Cheers,

      Jonathan

    • Staff
      Sally | November 3, 2015

      Hey Shabda,

      Thanks for your question.

      Your Velocity Escape American Express card automatically earns Velocity Frequent Flyer points. Every dollar you spend with Virgin Australia earns 2.00 Velocity points, and every dollar spent on other eligible purchases earns 1.00 Velocity point. The Velocity Points earned on your account are transferred directly to your Velocity account each month.

      I hope this has helped.

      Cheers,

      Sally

  9. Default Gravatar
    Louise | August 15, 2015

    I have already purchased Virgin Airline tickets. Can I transfer velocity points even though I have already paid for the tickets?

    • Staff
      Sally | August 17, 2015

      Hi Louise,

      Thanks for your question.

      Yes, you can earn Velocity points from your flight.

      Once you’ve taken the flight, you will need to email your Velocity membership number and a copy of your electronic ticket and boarding pass to Velocity. I’ve sent you an email with the relevant email address and instructions.

      Successful claims will be credited to your account within two to six weeks of submission.

      I hope this has helped.

      Thanks,

      Sally

  10. Default Gravatar
    Joy | August 9, 2015

    I already have an account with you which I have not used for a long time (nor can I find my card any more) as I generally use my Westpac MasterCard for purchases. Do I get bonus points if I transfer my current Westpac MasterCard over to my Amex Velocity card, thus just have the one card with Amex in future?

    • Staff
      Sally | August 10, 2015

      Hi Joy,

      Thanks for your question.

      Just to confirm, you have come through to creditcardfinder.com.au, not Westpac.

      However, we can confirm that the offer is only available for new cardholders who will apply by 30 September 2015, activate their new card and spend $300 within the first 3 months from card activation. This offer is ineligible to existing cardholders or members who have previously held any other card product offered by American Express Australia in the preceding 12 months.

      Thanks,

      Sally

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Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
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