Looking to get rewarded with a stack of Velocity Points for business?
For a limited time, receive 150,000 bonus Velocity Points with the American Express Velocity Business Card. Plus, get a waived first year Card Fee (a saving of $249).
To get this offer, simply apply online by 2 November 2022 and spend $3,000 within 2 months of your approval date. Offer available to new American Express Card Members only.
American Express Velocity Business Card: The Lowdown
Designed for ABN holders who are aligned with the Velocity Frequent Flyer program, the American Express Velocity Business Card offers an array of business and travel-friendly features.
Above and beyond the generous sign on bonus, the Card unlocks a high Velocity Points earn rate on spend, two Virgin Australia single airport lounge passes each year, complimentary domestic and international insurance coverage, and many other benefits.
The American Express Velocity Business Card is a ’Charge Card’, which means it needs to be paid off in full each month, by the statement date. As a result, the Card unlocks no pre-set spending limit (T&Cs apply) and up to 51 days to pay for purchases.
Or, read on for an overview of the key benefits:
Enjoy 150,000 bonus Velocity Points
As one of Australia’s leading rewards programs, Velocity Frequent Flyer offers many worthwhile redemption options. This includes the ability to use points for international flights on partner airlines, including Singapore Airlines, United and Qatar Airways.
If you’re not quite ready to travel, you could also choose to redeem your points for gift cards or goods via the Velocity Frequent Flyer e-Store.
Whatever your plans, Velocity Points don't expire, so long as you earn or redeem a minimum of 1 Velocity Point every 24 months.
The 150,000 bonus Velocity Points will be awarded to new American Express Card Members who apply online by 2 November 2022 and spend $3,000 within 2 months of approval. T&Cs apply.
Bonus Velocity Points will be credited 8 to 10 weeks after the minimum spend is reached.
Enjoy a waived first year Card Fee (a saving of $249)
The Annual Fee to hold this Card is currently $249 (as at 30 June 2022).
New American Express Velocity Business Card Members will receive a one-time credit of $249 during their first year of Card Membership. The Annual Fee will still be charged on your first Card statement and annually thereafter.
The waived first-year Annual Card Fee is only available to new Card Members who apply by 2 November 2022 and are approved.
The $249 Credit will be awarded to eligible Card accounts within 8-10 weeks of Card approval.
Earn Velocity Points fast on business spend
Boost your Velocity Frequent Flyer account balance quickly with a generous earn rate when you spend on your Card.
The American Express Velocity Business Card offers the following earn rates:
- 2 points per $1 spent on travel spend with Virgin Australia
- 1 point per $1 spent on everyday spend, and
- 0.5 points per $1 spent on spend with ATO and government bodies.
There’s no cap on how many points you can earn on your Card each month or year. Plus, with American Express acceptance continuing to grow across Australia, there are plenty of places where you can use your Card.
Points earned on your American Express Velocity Business Card will sweep automatically across to your Velocity Frequent Flyer account each statement period.
Note that cash advances and fees and charges for foreign currencies do not qualify as eligible spend, and will not earn Velocity Points. In order to earn 2 Velocity Points per $1 spend with Virgin Australia, you must make your purchase in Australia.
Receive 2 Virgin Australia Lounge passes
Each year, the American Express Velocity Business Card delivers two single entry passes to the Virgin Australia Lounge, available at selected airports.
The two complimentary single-entry lounge passes will be automatically loaded onto your Velocity Frequent Flyer membership Card each membership year, allowing you to relax in comfort before your next Virgin Australia domestic flight.
As at 5 July 2022, Virgin Australia Lounges are operational in the following domestic airports:
- Gold Coast
- Perth T1
Virgin Australia currently sells single-entry lounge passes for $65. So, simply by using your Lounge access passes, you can access up to $130 in value each year you hold the Amex Velocity Business Card.
Access domestic and international travel insurances for your business
With the American Express Velocity Business Card, access is provided to a range of complimentary insurances for you, your family, and employee Cards, when you use your Card to pay for the return trip.
This coverage is designed to provide confidence when you travel for business or leisure.
The coverage includes:
- Medical Emergency Expenses Cover up to $2,500,000
- Business Trip Completion Cover up to $20,000
- Trip Cancellation and Amendment Cover up to $10,000
- Personal Liability Cover up to $1,000,000
To access complimentary travel Insurance cover for employees, the travel must be booked on the employee’s additional Card.
Before deciding to take up any of these insurance products, and to find out more information about coverage requirements, you should refer to the Card PDS and terms & conditions here.
Enjoy no pre-set spending limit and up to 51 cash flow days
The American Express Velocity Business Card is a ‘charge card‘.
This means that, unlike a credit card, there is no pre-set spending limit. Choosing a card with no pre-set spending limit can offer flexibility for businesses, and assist them to effectively manage monthly cash flow.
The concept works like this: With no pre-set spending limit, your spending power will flex with the needs of your business. Depending on your circumstances, a charge card could unlock access to much higher monthly purchasing power than a standard credit card with a fixed limit.
Bear in mind that no pre-set spending limit does not mean unlimited spending. American Express states that purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial resources known to American Express.
A charge card must be paid in full each month and as your spending and repayment patterns evolve, so do your purchase approvals.
Save time and money with other benefits for business:
The American Express Velocity Business Card provides many other benefits, designed to offer convenience and save money for you and your business. Notable card benefits include:
Integration with leading business software: Keep track of business expenditure via integration of your Amex Card account with Quicken and MYOB.
Make secure payments to virtually anyone: Enrol with American Express AccessLine to make fast trusted payments virtually anywhere in the world. Using this service, you can make fast, secure payments to merchants who don't accept Card payments, while earning full points.
Apple Pay, Samsung Pay, and Google Pay support: Enjoy fast, convenient and secure payments on your phone with Apple Pay, Samsung Pay and Google Pay.
Amex Offers: Access popular ‘Spend and Save’ promotions that reward you with a credit to your account when you hit a minimum spend threshold at a specific merchant.
Up to 99 additional Cards: Up to 99 additional Cards can be provided to employees, at a cost of $99 per additional Card. Additional Cardholders earn Velocity Points at the same rate as the primary Cardholder, and are credited to the primary account. This could help you to boost your Velocity Frequent Flyer balance faster.
American Express Velocity Business Card eligibility
To apply for this Card, you must meet the following eligibility criteria:
- Be over 18 years of age
- Be an Australian citizen or a permanent resident
- Have a good credit history and no payment defaults
- Have an annual business revenue of $75,000 or more
- Your business must have a valid ABN registered for GST
- Be a Director or Controller of the business
To receive the limited time offer of 150,000 bonus Velocity Points and first year Annual Card Fee waiver, you must not currently hold or have previously held a Card product issued by American Express Australia Limited in the preceding 18 month period. Previous and existing bank-issued American Express companion Card Members are eligible for this offer.
Don’t miss 150,000 bonus Velocity Points + waived first year Annual Card Fee
The secure, mobile-friendly application form takes less than 10 minutes to complete and Amex may be able to give you a response in less than 60 seconds.