Amex launches two new Velocity credit cards

Virgin Australia’s rolling revamp of its Velocity Frequent Flyer program now sees the return of two “refreshed” co-branded American Express Velocity credit cards.

Leading the pack is the American Express Velocity Platinum card, which lets you earn status credits on the ground – provided you’re a high spender as well as a high flyer – along with unlimited access to Virgin Australia lounges.

Here are the top-line details for the Amex Velocity Platinum credit card, which carries a $440 annual fee.

• earn 100 Velocity Status Credits when you spend $50,000 on the card (in two batches of 50 SCs for each $25,000 spend)
• visit any Virgin Australia lounge ahead of any domestic Virgin Australia flight, and also receive two single-use lounge passes for family or friends
• two single-entry American Express Centurion Lounge passes per year, although this benefit will be withdrawn on 24 April 2025
• enjoy one complimentary Virgin Australia domestic return economy flight per year
• earn 1.25 Velocity Points per dollar on everyday spend and 2.25 Velocity Points per dollar on Virgin Australia spend, without any cap

With Velocity status becoming harder to earn under Velocity’s shift to spend-based status earning (along with cuts to status earning on partner airlines), the lure of year-round lounge access simply by having the American Express Velocity Platinum card in your wallet or purse should have solid appeal.

As with its previous incarnation, the Amex Velocity Platinum card also bundles in up to 100 status credits, which can for example close the gap to Velocity Gold once you’ve earned 400 status credits flying with Virgin or a partner airline, rather than the usual 500 status credits.

Issuing status credits on credit card spending is increasingly common overseas, but remains contentious among many frequent flyers who fear this makes it too easy to qualify for lounge access through mid-tier status.

Surprisingly, at the time of writing there’s no sign-up bonus of  Velocity Points bring offered for the American Express Velocity Platinum credit card.

A much more modest proposition is the American Express Velocity Escape Plus card, taking the place of the previous Amex Velocity Escape card.

For a $95 annual fee you get 1 Velocity Point per dollar on everyday spend, although once you hit 12,000 Points in each calendar year the earn rate drops to 0.75 Velocity Points per dollar.

There’s also a $50 statement credit on your account every year, once you enrol and spend $50 or more with Virgin Australia.

Both the Amex Velocity Platinum and Velocity Escape Plus cards offer complimentary domestic and international travel insurance.