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100,000 Spend at least $3,000 within the first 2 months
American Express Velocity Business Charge Card
American Express Velocity Business Charge Card

American Express Credit Cards

American Express Velocity Business Charge Card

Updated 24 May 2024

American Express Velocity Business offers 100,000 bonus Velocity Points when you apply online by 27 August 2024, are approved, and spend a minimum of $3,000 in the first 2 months. Plus, join the Virgin Australia Business Flyer program to jump direct to Tier 2 and receive a complimentary 12-month Velocity Frequent Flyer Gold Membership. Enjoy other benefits including complimentary Travel Insurance and two passes to the Virgin Australia lounge per year.

New American Express Card Members only. T&Cs apply.

Points Earn Rate (per $1 spent)

1 point

Velocity

Rewards Program

Velocity Frequent Flyer

Bonus Points

100,000 pts

Spend at least $3,000 within the first 2 months

Pros and cons

  • Receive 100,000 bonus Velocity Points when you apply online by 27 August 2024, are approved, and spend $3,000 within the first 2 months. New American Express Card Members only.
  • Join the Virgin Australia Business Flyer program to jump direct to Tier 2 and enjoy complimentary 12-month Velocity Frequent Flyer Gold Membership. New American Express Card Members only.
  • Earn 2 points per $1 spent on Virgin Australia services
  • Earn 1 point per $1 everyday business spend, except for government bodies in Australia where you’ll earn 0.5 points per $1 spent
  • Two complimentary single entries to Virgin Australia lounges at selected domestic airports every year
  • Complimentary domestic and overseas Travel Insurance (including limited cover related to COVID-19, T&Cs apply)
  • Up to 51 days interest-free period on purchases
  • Enjoy no pre-set spending limit

  • Employee Cards are an additional fee of $99 per year, per card

Creditcard.com.au review

Editor Review

American Express Velocity Business Charge Card

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

Point calculations are accurate as of 3 April 2024 but may be subject to change without notice. All routes may have additional taxes and charges. Check on the official American Express page for the updated calculations.

Providing your business with a wide range of excellent features, the American Express Velocity Business Charge Card offers you the opportunity to earn rewards on your business spending, while enjoying some wonderfully convenient tools and extras. Think a charge card might be right for your business? This offering from American Express may just be the charge card for you.

What we love...

One of the things we like most about the American Express Velocity Business Charge Card is its charge card capability. While still providing you with the ability to pay with plastic, it can offer more flexibility than a credit card, as it has no pre-set credit limit.

This can give you more flexibility in your business spending – all you need to do is pay the balance in full each month. And with up to 51 days interest-free on purchases, you can extend your cash flow even further.

If you need more time to pay off your statement you can use Amex's Flexible Payment Option (FPO) to pay your a portion of your balance in instalments. When you apply, you'll be given a maximum amount you can use towards a FPO (much like a credit card limit, but for the amount you can allocate to flexible repayments). If you don't pay your statement in time, your interest-free days will be forfeit and an automatic FPO will be set up and charged interest until it's paid off in full. FPO's are charged at either the normal purchase rate or the rate specified on your monthly statement and may include other fees.

But that’s not all. This is a card that rewards you for your spending. Working in much the same way as other business rewards cards, the American Express Velocity Business Charge Card allows you to earn points on everyday spending, which can be redeemed on the Velocity program.

Points earned are automatically transferred to your Velocity Account each month, which can then be redeemed for flights or upgrades with Virgin Australia and its international airline partners, for a stay at selected hotels, for car rental, or for an extensive range of items within the Velocity Rewards Store.

The everyday earn rate lets you earn 2 points per $1 spent on purchases with Virgin Australia, 1 point per $1 spent on everyday business spend, except for government bodies in Australia where you’ll earn 0.5 points per $1 spent. What makes it even more enticing is that it also offers new cardholders 100,000 bonus Velocity Points when you online, are approved, and spend $3,000 within the first 2 months. After that spend criteria has been met, the 100,000 bonus Velocity Points will be credited to your account within 8-10 weeks.

To give you an idea of where 100,000 bonus Velocity Points can take you, you could fly return in business from Brisbane to Melbourne for 63,000 points, or use it to purchase an Ultimate Home $500 gift card for 94,416 points at Velocity Rewards Store. With various redemption options to choose from, it’s up to you to pick one that could give you the best value.

On top of the bonus points offer, new American Express Velocity Business card members who meet the minimum spend requirement and sign-up to Virgin Australia Business Flyer within the first two months from card approval, will be eligible for the automatic Tier 2 Level Status upgrade and the complimentary 12-month Velocity Gold Membership. Other terms and conditions apply so make sure you read the small print for the full details of this promotional offer.

Given the limited time offer, benefits and extras this card holds, $249 annual fee is more than reasonable.

What’s not so great...

As long as you understand how a charge card works – and don’t mistake it for a credit card – the American Express Velocity Business Charge Card doesn’t provide much to complain about.

Though the card has a reasonable annual fee, the Employee Cards linked to your account incur an additional fee of $99 per year, per card.

Why should you choose this card?

Aside from its charge card flexibility and rewards points earning potential, the American Express Velocity Business Charge Card also has a number of other features on offer. As a cardholder, you can enjoy two complimentary single entry passes to the Virgin Australia lounge at selected domestic airports every year.

You can also benefit from a number of complimentary insurances, including domestic and overseas Travel Insurance (with limited cover related to COVID-19, T&Cs apply), Travel Inconvenience Cover, and Public Transport Accident Cover. Also on offer is emergency card replacement, online fraud protection, and award-winning support from the American Express global customer service team.

In terms of business tools, the card provides transaction data feeds to MYOB accounting software, while also allowing you to keep track of expenditure by downloading statements and transaction details, and viewing balances using Quicken, MYOB, or Microsoft Excel.

Overall Rating

A business charge card that allows cardholders to earn rewards on business spending while taking advantage of a range of convenient features and business tools.

User reviews

American Express Velocity Business Charge Card ( based on 2 Creditcard.com.au user reviews )

48% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate N/A

Cash advance rate N/A

Interest free period on purchases up to 51 days

Credit limits

Minimum credit limit N/A

Maximum credit limit N/A

Fees & repayments

Annual fee $249 p.a.

Additional cardholder fee Up to 99 at $99 per card

Foreign transaction fee 3%

Minimum repayment $30 or 2.5%, whichever is greater (personal & business); N/A (charge cards)

Cash advance fee N/A

Late payment fee $20 or 3%, whichever is greater

Rewards and points

Rewards program

Rewards Program Velocity Frequent Flyer Velocity Frequent Flyer

Bonus points 100,000 points

Annual points cap uncapped

Bonus points spend criteria Spend at least $3,000 within the first 2 months

Earning points with this card

Velocity Rewards points 1 point per $1 spent

Points cap per month N/A

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance Yes

Flight Inconvenience Insurance Yes

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Two single entries to domestic Virgin Australia lounges per year

Fraud Protection Guarantee

Overview

American Express Velocity Business Charge Card

* This is a charge card, so it has no pre-set spending limits and no interest charges, so you can make the most of your cash flow.

Key features

  • Receive 100,000 bonus Velocity Points when you apply online by 27 August 2024, are approved, and spend $3,000 within the first 2 months. New American Express Card Members only.
  • Join the Virgin Australia Business Flyer program to jump direct to Tier 2 and enjoy complimentary 12-month Velocity Frequent Flyer Gold Membership
  • Earn 2 points per $1 spent on Virgin Australia services
  • Earn 1 point per $1 everyday business spend, except for government bodies in Australia where you’ll earn 0.5 points per $1 spent
  • Enjoy no pre-set spending limit
  • Two complimentary single entries to Virgin Australia lounges at selected domestic airports every year
  • Complimentary Domestic and International Travel Insurance (including limited cover related to COVID-19, T&Cs apply)
  • Up to 51 days interest-free period on purchases
  • Up to 99 additional Employee Cards ($99 annual fee per card)
  • MYOB Integration

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian citizen or a permanent resident. Have a valid ABN and your business must be registered for GST.

  • Minimum income of $75,000 p.a.

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask our credit card expert a question.

6 questions (showing the latest 10 Q&As)

Ron Dufficy

Ron Dufficy

16 March 2024
I have an American Express Platinum credit card. Am I eligible for the American Express Velocity Business Charge Card offer to receive 200,000 Velocity points?
    Pauline - CreditCard.com.au

    Pauline

    20 March 2024
    Hi Ron, the American Express Velocity Business Charge card is designed for businesses. To determine your eligibility for the 200,000 Velocity points offer, you'll need to ensure that you meet the specific criteria set by American Express for business cardholders. This may include factors such as your business' revenue, credit history, and other business-related information. If you meet these criteria, you may be eligible for the offer.
Joel

Joel

14 July 2023
Hi, you advertise the: the American Express Velocity Business Charge Card with the following pro (joining Virgin gold (tier 2)), however this does not appear on the offer once I follow the link. Could you please clarify this. I would be very much inclined to purchase this CC if it makes me a 'gold' status. Thanks "Join the Virgin Australia Business Flyer program to jump direct to Tier 2 and enjoy complimentary 12-month Velocity Frequent Flyer Gold Membership. New American Express Card Members only."
    Pauline - CreditCard.com.au

    Pauline

    17 July 2023
    Hi Joel, thanks for your comment. We make every effort to maintain accurate information across our site, but sometimes product features and fees change without notice. Amex often run promotions across their business credit card range, so something like this might appear again!
Meagan

Meagan

11 May 2023
Can the velocity points earned on the AMEX Business Charge Card be allocated to an employees velocity account?
    Pauline - CreditCard.com.au

    Pauline

    15 May 2023
    Hi Meagan, typically the points will be accrued to the account holder. Unfortunately, you can't transfer points to an employee. Transfers are only available if you’re transferring to another eligible family member.
Richard Scrivener

Richard Scrivener

23 April 2023
What is the interest rate charged on normal purchases and the interest rate charged on cash advances?
    Pauline - CreditCard.com.au

    Pauline

    26 April 2023
    Hi Richard, the American Express Velocity Business card is a charge card. Having a charge card means that you're required to pay off the balance in full each month. You can't carry a balance over to the next month. If you don’t pay the full amount, Amex will list your account in default and may charge you liquidated damages as specified in the Financial Table on any overdue amount.
Danielle

Danielle

20 December 2022
Is this card for businesses only, or can you apply for personal credit card?
    Pauline - CreditCard.com.au

    Pauline

    20 December 2022
    Hi Danielle, I checked Amex Velocity Business card and yes, it’s for business as one of the eligibility criteria is that you need to have an annual business income of at least $75,000. You can however view some of Amex’s personal credit cards or if you’re keen on earning Velocity points, you can check some of the other Velocity credit cards for your options.
Nitin

Nitin

13 July 2022
I have small IT business which is registered for the GST and have turn over more than 75K so that perspective I am eligible. On this business I am director. But last year in Sep'21, I had American Express issued American Express Velocity Platinum Card on my personal name which I have closed in SEP'21. So technicall I have not completed 18 Months. But Can I still get this sign up bonus of 150,000 if I apply via business where I am director. Or as I had amex card which closed in Sep'21 due to it amex's card condition 1G will not satisfy and I will not get sign up bonus. Appreciate your guidance.
    Pauline - CreditCard.com.au

    Pauline

    15 July 2022
    Hi Nitin, thanks for your message and the extra context. I did a deep dive into the Amex T&C’s and found this line. “Card Members who currently hold or who have previously held any other Card product issued by American Express Australia Limited in the preceding 18-month period are ineligible for this offer.“ It looks like that you’ll need to wait the whole 18 months before becoming eligible for the bonus points. There are newer “fintechs” who are entering the market, such as Volopay who offer virtual business credit cards.
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