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150,000 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 6 July 2022

American Express Velocity Business offers 150,000 bonus Velocity Points plus no annual fee for the first year when you apply by 19 October 2022, are approved, and spend a minimum of $3,000 in the first 2 months. Enjoy no pre-set spending limit and earn 2 points per $1 spent on Virgin Australia services and 1 point per $1 spent on everyday purchases. Access to 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

150,000 pts

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

Pros and cons

  • Receive 150,000 bonus Velocity Points when you apply by 19 October 2022, and spend $3,000 within the first 2 months. New American Express Card Members only.
  • Enjoy all benefits without paying the annual fee for the first year, $249 thereafter. 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
  • Up to 51 days interest free period on purchases
  • Enjoy no pre-set spending limit

  • Employee Cards at 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.

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.

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 150,000 bonus Velocity Points when you apply by 19 October 2022, are approved, and spend $3,000 within the first 2 months. After that spend criteria has been met, the 150,000 bonus Velocity Points will be credited to your account within 8-10 weeks.

To give you an idea of where 150,000 bonus Velocity Points can take you, you could fly return in business from Brisbane to Melbourne for 80,000 points, or use it to purchase an Ultimate Home $500 gift card for 94,017 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. Point calculations are accurate as of 30 June 2022 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.

Given the benefits and extras this card holds, $249 annual fee is more than reasonable. Awesomely, American Express Velocity Business Credit Card currently waives the annual fee for the first year for new approved applications.

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, 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 2.5% or $30, whichever is greater

Annual fee the first year $0

Cash advance fee N/A

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Velocity Frequent Flyer Velocity Frequent Flyer

Bonus points 150,000 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 150,000 bonus Velocity Points when you apply by 19 October 2022, and spend $3,000 within the first 2 months. New American Express Card Members only.
  • Enjoy all benefits without paying the annual fee for the first year, $249 thereafter. 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
  • Enjoy no pre-set spending limit
  • Two complimentary single entries to Virgin Australia lounges at selected domestic airports every year
  • Complimentary domestic and overseas Travel Insurance which includes Travel Inconvenience Cover and Public Transport Accident Cover
  • 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

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