American Express Velocity Escape Credit 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. Ask Pauline a Question about this card.

Giving you a way to earn uncapped Velocity Points while paying no annual fee, the American Express Velocity Escape Credit Card is a rewards card that keeps it perfectly simple. You can also benefit from other handy features such as Card Refund and Card Purchase Covers. Let’s explore in more detail what the American Express Velocity Escape Credit Card has to offer:

• Earn 0.75 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent
• Earn 1.75 additional Velocity Points per $1 spent on purchases with Virgin Australia
• No points cap
• Points transferred directly to your Velocity Account each month
• No annual fee ever
• Card Refund Cover
• Card Purchase Cover
• Online Fraud Protection Guarantee
• Up to 55 days interest-free on purchases
• No annual fee for primary cardholder or additional cardholders.
• Purchase rate at 23.99% p.a. (variable).
• No cash advances.

This Card: The Lowdown

With no annual fee ever, the American Express Velocity Escape Credit Card is the ideal option for cardholders looking to earn Velocity Points while keeping ongoing costs down. As long as you clear your balance each statement period and avoid unnecessary fees, this card provides a simple way to earn rewards on everyday spending, while paying out the absolute minimum.

Keeping it pretty basic, this card is a great choice for anyone who doesn’t need fancy features – or anyone who doesn’t want to pay for them.

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the American Express Velocity Escape Credit Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

With very few additional extras on offer, this card’s big selling point is its rewards program. As a cardholder, you'll pay no annual fee for this card so you are essentially earning rewards for FREE. Considering the fact that some rewards cards have annual fees that blow out to hundreds of dollars, the American Express Velocity Escape Credit Card really is offering something special.

Everyday Earning

With a straightforward earn rate, the American Express Velocity Escape Credit Card makes it easy to keep track of your points earning.

• Earn 0.75 Velocity Points per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent
• Earn 1.75 additional Velocity Points per $1 spent on purchases with Virgin Australia

There are two impressive aspects of the American Express Velocity Escape Credit Card that are worth highlighting. First, there is no cap on the points you earn. Unlike many other rewards cards, which cap the points you earn or reduce the number of points earned per $1 after a certain point, this card lets you earn as many points as you want.

Secondly, there is no annual fee for primary cardholders or additional cardholders. With rewards cards in general, you need to weigh up how much you are paying out in annual fees against the value of the rewards you get in return. Unfortunately, you will often find that balance is not in your favour.

But, with this card, you pay out nothing in annual fees, so the rewards you earn are essentially free. On top of that, your Velocity Frequent Flyer membership is also free. All the points that you earn – and that your additional cardholders earn – go straight to your Velocity Account each month, so there is very little maintenance required.

Velocity Frequent Flyer

If you are new to the Velocity Frequent Flyer program, then the American Express Velocity Escape Credit Card could be the ideal card for you. A gateway card, you could say. But, if you’re new to the program, you’ll need to learn more about the way it works if you want to take full advantage of it – and earn the maximum points for your spending.

Earning Points

As a cardholder, there are lots of ways in which you can earn points. You can earn Velocity Points on eligible flights with Virgin Australia and its airline partners. Airline partners include Delta Air Lines, Etihad Airways and Singapore Airlines.

You can also earn Velocity Points when you make a booking with Virgin Australia’s global travel partners. When you use your card to book with these travel partners, you will earn Velocity Points twice – once with your card and again with the partner. Accommodation partners include Crown Hotels, AccorHotels and TFE Hotels, while car hire partners include Europcar, Hertz and Thrifty.

If you are a Platinum, Gold or Silver Velocity member (more on that shortly), you will also earn a Velocity Points bonus when booking with selected Velocity travel partners, as well as on flights with Virgin Australia and its partner, Etihad Airways.

As for everyday points earning, Virgin Australia’s everyday partners allow cardholders to earn Velocity Points on day-to-day spending. Earn points paying for your phone contract at Virgin Mobile, paying your EnergyAustralia bill, or servicing your car at Midas. With Virgin Australia’s partners, you could even earn points visiting your dentist or buying wine.

Status Benefits

The Velocity Frequent Flyer program has four levels of membership, each of which determine the types of benefits you receive when you travel. After entry-level membership, you can upgrade to Silver, and from there to Gold and Platinum Velocity membership. You climb the membership ladder by earning Status Credits.

Status Credits are different to Velocity Points, and can only be earned in a few ways. You can earn Status Credits when you fly on eligible flights with Virgin Australia and its airline partners, where the more frequently and further you fly, and the more flexible the type of fare you book, the more Status Credits you will earn.

You can also earn Status Credits when you shop, using your linked Flybuys card at Coles, Coles Online, Liquorland and First Choice Liquor Market. Here, you’ll earn 1 Status Credit for every $100 spent on eligible purchases, up to a maximum of 10 Status Credits per month. Lastly, you can use Family Pooling to direct your family members’ Status Credits into one nominated Velocity Account.

In terms of benefits, these vary according to the level of membership you hold. As a Platinum or Gold member you will receive benefits that include access to more than 150 lounges worldwide, Priority Check-in, Priority Boarding and additional baggage allowance, as well as complimentary membership to the premium tiers of Virgin Australia’s car hire and accommodation partners.

If you are a Platinum, Gold or Silver member, you will earn a Velocity Points bonus when you fly on eligible flights with Virgin Australia or Etihad Airways, as well as when you book with selected Velocity accommodation, car hire, insurance and travel partners.

Redeeming Points

Now to Velocity Points redemption. As a Velocity member, you can redeem your points for flights, either by booking a Rewards Seat or Any Seat. Alternatively, you can redeem points to book accommodation, holiday packages and car hire with Virgin Australia’s global travel partners.

You can also redeem your points at the Velocity Rewards Store. Here, you can choose from hundreds of products, including electrical items, activewear and gift cards.

This Card: Extras on Offer

As we mentioned earlier, the American Express Velocity Escape Credit Card is not weighed down with extras. But, as it has no annual fee and a rewards program, this is not surprising. That’s not to say it’s completely devoid of features though. Here are some of the useful extras you can expect.

AmEx Service

One of the things American Express sells itself on is its service. With the American Express Velocity Escape Credit Card, that means offering extras such as Card Refund Cover, Card Purchase Cover, an Online Fraud Protection Guarantee and Emergency Card Replacement, as well as Global Card Support.

With Card Refund Cover, American Express will credit your account if you're refused a refund on an unused eligible item bought using the card within 90 days of purchase. American Express will pay up to $500 for one eligible item, up to a total of $2,000 within a year. Certain items are not covered, such as jewellery, mobile phones, books and items with a purchase price of less than $50.

With Card Purchase Cover, American Express will repair or refund eligible items bought using the card if they are accidentally broken or stolen within 90 days of purchase. American Express will pay up to $2,500 per claim, up to $20,000 within a year. Lost or stolen items cannot be claimed if they are not reported to the police within 48 hours, or if a written police report has not been obtained. There is an excess of $50 per claim.

With the card’s Online Fraud Protection Guarantee, you won't be held responsible for any unauthorised charges made without your knowledge while shopping online, while the Emergency Card Replacement service uses the American Express global network to get a replacement card to you within two working days, virtually anywhere in the world.

Compatibility

As the American Express Velocity Escape Credit Card has the American Express logo emblazoned on it, this card can be used anywhere American Express is accepted. The only thing to note here is not all merchants accept American Express, and some charge a higher credit card surcharge for American Express card use.

If you are a tech fan and love wearable technology, you’ll be glad to know that the American Express Velocity Escape Credit Card can be paired with Apple Pay, Samsung Pay and Google Pay.

Up to 55 Days Interest Free on Purchases

Another way to save on interest is to use the card’s interest free period on purchases. As long as you pay the full closing balance of your monthly statement by the due date each month, you can benefit from up to 55 days interest free on purchases. Bear in mind that the total number of interest free days will depend on when the purchase is made and when your statement is issued.

This Card: The Essentials

We already know this card has no annual fee, for the primary cardholder or for additional cardholders. It is worth noting that the purchase rate on this card is relatively high, so it’s best to clear the balance before interest starts accruing. Cash advances are not offered on this card, and there is a minimum credit limit of $2,000.

As for eligibility, you need to be at least 18 years old to apply, with no history of bad debt or payment default. You must be an Australian citizen or permanent resident, or hold a long term visa. Long term means at least 12 months and does not include student visas.

Decision Time

An enticing option for anyone who wants to earn Velocity Points while paying no annual fee, the American Express Velocity Escape Credit Card is a simple rewards card with a selection of useful features. Take advantage of this easy way to earn rewards while paying out zip in annual fees.