Credit Cards with Bonus Velocity Points

Information verified correct on September 29th, 2016
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If you want to earn points as you spend, a credit card with bonus Velocity points could be for you.

Velocity is Virgin Australia’s loyalty program, and like loyalty programs of other airlines, members have the ability to accumulate and redeem points in different ways. The Velocity program allows members to collect points not just when flying with Virgin Australia, but also when flying with any of its worldwide partners like Singapore Airlines and Etihad. In addition, you can also earn bonus points just for signing up and making specific purchases.

What are credit cards with bonus Velocity points?

These are credit cards that give you the ability to earn bonus Velocity points, usually offered as an incentive to sign up. You can also earn extra bonus points for specific purchases, or purchases with Velocity Airline’s retail partners. For example, the Virgin Australia Velocity High Flyer card offers up to 20,000 bonus points on sign up but you’ll need to spend a certain amount within 3 months of card approval.

American Express Velocity Escape Card

Velocity Frequent Flyer Credit Card Offer

Earn 7,500 bonus Velocity Points and receive $0 annual fee plus a low balance transfer offer.

  • $0 p.a. annual fee
  • 20.74% p.a. on purchases
  • 0% p.a. for 12 months with 1% balance transfer fee on balance transfers
  • Up to 44 days interest free
  • Minimum Income Requirement of $40,000 p.a.

How does a credit card that offers bonus Velocity points work?

Some credit cards offer cardholders a significant number of Velocity points upon signing up, although these do come with certain terms and conditions. Applying by a particular date is one requisite, and requirements of cardholders spending a particular sum by a particular date to take advantage of the points is not uncommon either. Bonus points can also be earned by spending with Velocity partners, sometimes allowing cardholders to earn double the number of points you usually would.

What are the types of Velocity credit cards?

There are two types of Velocity credit cards;

  1. Reward credit cards – Reward credit cards give you the ability to earn bonus Velocity points through your everyday spending and could offer bonus points on sign up.
  2. Platinum and black credit cards - Platinum and back credit cards typically offer a large number of bonus points upon joining and usually have a higher points-earning rate as they’re targeted to those who spend more on their credit card.

Credit cards with bonus Velocity points

Rates last updated September 29th, 2016.

NAB Velocity Rewards Premium Card

20,000 bonus points, purchases and balance transfers offers have been extended until 2 October 2016.

August 9th, 2016

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

Balance transfer offer has been extended until 31 October 2016.

September 26th, 2016

Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer

Balance transfer offer has been extended until 31 October 2016.

September 26th, 2016

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Jonathan Choi Jonathan
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points 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.
0 0.66 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you meet the minimum spend requirement and earn up to 2 points for every $1 you spend, together with a $0 annual fee.
1 0 7,500 bonus points $0 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Receive 0% p.a. for 12 months on purchases, 0% p.a. for 6 months balance transfers and an exclusive $129 Virgin Australia Gift Voucher every year.
0 0.66 $129 p.a. Go to site More info
American Express Velocity Platinum Card
Enjoy up to 50,000 bonus Velocity Points when you meet the minimum required spend and earn up to 3 rewards points per dollar spent. Also receive a complimentary return flight every year.
1 0 50,000 bonus points $349 p.a. Go to site More info
NAB Velocity Rewards Premium Card
0% p.a. on purchases and balance transfers for 15 months and 20,000 bonus Velocity Points when you make an everyday purchase in the first 90 days of opening your account. You gain both Visa and American Express cards which are linked to one single account and annual fee.
1.5 0.5 20,000 bonus points $150 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
0 1 30,000 bonus points $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
American Express Velocity Business Card
Earn 1.000 points per $1 spent. Also receive up to bonus Velocity Rewards points.
1 0 $249 p.a. Go to site More info

How to compare credit cards with bonus Velocity points

The table above helps compare some credit cards and the Velocity bonus points they offer along with other useful parameters, but these are some of the features you may want to pay particularly close attention to:

  • How many bonus points can I earn? It’s possible to get up to 50,000 bonus points on sign up with these type of offers. As such, it pays to shop around for the *best deal so you can more value out of your Velocity credit card sign up.
  • What is the annual fee? These type of credit cards often come with a high annual fee, so again it always pays off to do a comparison. Consider your personal and financial situation and determine how much you can spend on your credit card, as well as whether or not the cost of the annual fee will benefit the number of rewards you could potentially receive.
  • What’s the interest rate? Remember that points shouldn’t be the only decisive factor when choosing a credit card. Interest rates are another important feature to consider as they will determine what your repayments will be.
  • Can I earn complimentary flights? Velocity credit cards often come with complimentary or discounted flights for the cardholder. Getting these bonus points and discount flights can mean you’ll get more value out of your credit card.
  • Does the card come with complimentary insurance? This feature is common among platinum and black credit cards and may come with credit cards that offer bonus Velocity points. Complimentary insurance is useful for frequent travellers as it saves you the hassle of finding it elsewhere. However, as most complimentary insurance policies require cardholders to pay a certain percentage of their travel costs on the card and do not cover pre-existing conditions, make sure to read the terms and conditions before applying.
  • Which financial institution is the provider? If you prefer staying loyal to one particular bank, or you like one rewards program over another, then this could be a consideration when comparing credit cards that offer bonus Velocity points.

What are the perks and drawbacks of credit cards with bonus Velocity Points

Pros

  • Status credits. As part of the Velocity reward program, members can earn status credits which can allow for upgrades to the membership’s next level, offering better benefits as well as faster rewards.
  • More value. Credit cards with bonus Velocity Points reward cardholders for their regular spending. You can also redeem your points for cash back rewards, providing greater flexibility when it comes to redeeming your points.
  • Added extras. Some of these credit cards come with extras, such as complimentary insurance or Virgin lounge access, which can be an added bonus for avid travellers.

Cons

  • Time limits. Credit cards with bonus Velocity Points often outline a certain time for accumulating and redeeming their points, which can limit the potential of your points.
  • Points cap. Always check if your points will be capped at a certain amount. This is particularly important if you’re saving up all your points for something big like a flight or if you’re a big spender who could earn more points with an uncapped rewards program.
  • Annual fees. Rewards cards generally come with higher annual fees, so if you don’t take advantage of your rewards, the cost of the card could outweigh the benefits.

Things to avoid with credit cards and bonus Velocity points

  • Ignoring the terms and conditions. Neglecting the terms and conditions and product disclosure statement could cause you to miss vital information regarding both opportunities and restrictions on accumulating or redeeming your points.
  • Rolling into debt. Although taking advantage of points is a major drawcard, don’t spend unnecessarily just to build up points. As you’ll also have the annual fee and interest charges to consider, be disciplined with your spending and always repay your balance otherwise the costs will counteract any benefits you may have received from your rewards.

Credit cards that offer bonus Velocity points could be of vast benefit to Virgin frequent flyers. As there are a number of options available for such cardholders, you’ll need to compare both the benefits and limitations of the available credit cards while also considering your personal financial situation and what you want out of your credit card.

Frequently Asked Questions

Where can I find the best credit card* deals?

You can see our range of featured best credit cards here, we’ve also got some exclusive deals in place with other banks that you can find here.

Where can I find a comparison of Virgin Money credit cards?

You can find a list of them here.

When do I actually get my bonus Velocity points after signing up?

Please allow up to a month for the points to appear in your account.

Do you compare frequent flyer cards?

We sure do, you can see them here – we compare Qantas frequent flyer cards as well.

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Credit Cards Comparison

Rates last updated September 29th, 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.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 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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