American Express Velocity Escape Card – Review and Application

Information verified correct on August 27th, 2016
American Express Velocity Escape Card Find out more Go to site

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Earn 7,500 Velocity Points when you apply online, are approved and spend $750 within the first 3 months. Lower your debt with a 0% p.a. balance transfer offer and avoid any ongoing annual fees.

Unlike most frequent flyer credit cards, the perks of the American Express Velocity Escape Card come without the cost of an annual fee. If you apply, are approved and meet the spend requirement you can earn 7,500 bonus Velocity Points and will continue to earn points on eligible purchases. If you’re struggling to repay an existing debt, you can also take advantage of the introductory balance transfer rate of 0% p.a. that stays in place for the first 12 months. Plus, you can spend internationally with peace of mind thanks to American Express Travel Services and purchase protection.

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 do not 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
Over Limit Fee$15
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 could be for you. This card links to your Velocity Frequent Flyer program account, allowing you to up to 2 Velocity Points on every dollar you spend. These points can be redeemed for flights with Virgin and its partners, accommodation, car rental, gift cards and more.

You can also use the card to consolidate debts faster and without interest costs, given the promotional 0% p.a. balance transfer rate for 12 months. American Express Travel Services and Global Card support can simplify how you plan your travels and give you peace of mind when shopping overseas. Plus, purchase and refund protections, as well as the Online Fraud Protection Guarantee, means you can use your card safely no matter where you shop.

Benefits of using an American Express Velocity Escape Card

If you’re considering getting the American Express Velocity Escape Card, these are some of the perks you can expect:

  • Earn bonus points and uncapped rewards. To earn 7,500 bonus Velocity Points offer, all you have to do is spend $750 on your card in the first three months. When you use this card to pay for Virgin Australia tickets, you earn 2 Velocity Points for every dollar spent. There is no cap on the maximum number of points you can earn, and your points don’t expire as long as you earn or redeem them at least once every 24 months.
  • Low balance transfer offer. You can take advantage of a special 0% p.a. balance transfer rate for the first 12 months. You can transfer a maximum of $10,000.
  • 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.
  • Samsung Pay. The American Express Velocity Escape Credit Card now allows you to use your qualifying Samsung device to make contactless payments through the Samsung Pay application and receive $15 back on your account if you meet the spend requirement. 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:

  • No annual fee. This card, as mentioned, does not charge any annual fees for the life of the card.
  • Earn Velocity Points. Every dollar you spend with Virgin Australia earns 2 Velocity Points, and every dollar spent on other eligible purchases earns 1 Velocity point.
  • Bonus points. If you spend $750 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.
  • 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.

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.

Commonly 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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76 Responses to American Express Velocity Escape Card – Review and Application

  1. Default Gravatar
    Surendran` | June 14, 2016

    I want to know how can i use that 7500 reward points

    • Staff
      Anndy | June 14, 2016

      Hi Surendran,

      Thanks for your comment.

      You can redeem your Velocity reward points for flights, flight upgrades, car hire or hotel booking, sports apparels and more. I’ve sent you an email with a link to where you can redeem your points.

      I hope this helps.

      Cheers,
      Anndy

  2. Default Gravatar
    Sam | June 3, 2016

    I have a corporate Amex card for work. Am I eligible for the bonus 7500 points?

    • Staff
      May | June 9, 2016

      Hi Sam,

      Thanks for your inquiry.

      The introductory offer (7,500 bonus points) is available to new American Express Card Members only. Furthermore, according to the AMEX T&Cs, it states that:

      ‘Card Members 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 ineligible for this offer.’

      For your reference, I’ve emailed you the link to the American Express Velocity Escape Card.

      Hope this has answered your question.

      Cheers,
      May

    • Staff
      Sharon | June 9, 2016

      Hi Sam, thanks for your inquiry.

      You will be eligible for the offer as long as the card account you’re holding now is not under your name or you are not the primary cardholder. As per American Express terms and conditions, “Card Members 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 ineligible for this offer.”

      I hope this helps,

      Sharon

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

Credit Cards Comparison

Rates last updated August 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
9.99% p.a. $0 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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