American Express Velocity Escape Plus Card

Go to site

Terms and conditions apply

Bonus points: 20,000
Purchase rate: 23.99% p.a.
Reward point per $ spent: 1
Annual fee: $95 p.a.

Our verdict

Get 20,000 bonus Velocity Points, $50 back on eligible Virgin Australia spending per redemption period and up to 1.75 Velocity Points per $1 on eligible spending with Virgin Australia, with a $95 annual fee.

The American Express Velocity Escape Plus Credit Card lets you earn frequent flyer points on your spending and has a fairly low annual fee. Currently, you can earn 20,000 bonus Velocity Points when you apply online, are approved and spend at least $1,000 on eligible purchases within the first 3 months. Offer available to new American Express Card Members only. It has a relatively high earn rate of 1.75 Velocity Points per $1 for eligible spending with Virgin Australia. You'll also earn 1 Velocity Point per $1 on most everyday spending (0.5 points per $1 spent with government bodies). But once you hit 12,000 points in the calendar year, the earn rate drops to 0.75 points per $1 spent (this resets yearly).

The card has no airport lounge access but does give you complimentary travel insurance when you use the card to pay for your return trip. Terms, conditions and exclusions apply (such as maximum age limits, pre-existing medical conditions and cover limits). It also has a 23.99% p.a. interest rate for purchases that is at the higher end of the scale, but still similar to other frequent flyer cards. The card also gives you $50 back when you save the benefit and spend $50 or more on eligible flights with Virgin Australia. This benefit is available once per redemption period and ends 31 December 2026.

Pros

20,000 bonus Velocity Points offer
$50 Virgin Australia Statement Credit once per redemption period
Earn 1.75 Velocity Points per $1 on eligible spending with Virgin Australia
Complimentary travel insurance. Terms, conditions & exclusions apply.

Cons

There is a $95 annual fee
3% foreign transaction fee
After the first 12,000 points earned in a calendar year, earn rate drops to 0.75 points per $1 spent

Details

Product details

Product Name	American Express Velocity Escape Plus Card
Purchase rate p.a.	Purchase rate p.a. 23.99%
Interest-free period	Up to 55 days on purchases
Min credit limit	$2,000
Card type	American Express

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Rewards program	Velocity Frequent Flyer
Bonus points	20,000
Rewards points per $ spent	1

Fees

Annual fee	Annual fee $95
Minimum monthly repayment	2.5% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	Foreign currency conversion fee 3%
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the American Express Velocity Escape Plus Card online. Before you apply, check if you meet the eligibility criteria and have the necessary information to complete your application:

Eligibility criteria

New cardholder. To be eligible for the 20,000 bonus Velocity Points offer, you must not hold or have previously held any American Express card in the last 18 months.
Residence. You must be an Australian citizen, permanent resident or holder of a current long term visa (12 months or more, not including student visas) to be eligible to apply.

Credit history. You must have a good credit history with no history of bad debt or payment defaults. If you don't know your credit score or what's on your file, you can get a free copy of your credit report through Finder .
Age. You must be at least 18 years old to apply.

Required documents

Personal information. This covers your full name, email address, date of birth, driver's license number, marital status, number of dependents and contact number.
Velocity Frequent Flyer details. If you're already a Velocity Frequent Flyer, you'll need to provide your membership number and status tier. If not, you can create a free Velocity account so you can start earning points.
Residential details. This includes your residential address, residential status (for example if you're renting or a homeowner) and length of time at that address. If you've recently moved, you may also need to provide details of your previous address.
Employment. You'll need to confirm your role as well as your employer's name and contact details. If you're self-employed, provide details of your accountant. You may also be asked to provide several recent payslips, PAYG summaries or Tax Assessment Notices to help verify this information.
Financial details. Such as any assets, debts from existing loans or credit cards and details of your everyday expenses such as bills, fuel, transport and supermarket shopping.

Go to American Express's site More info

Card benefits*

20,000 bonus Velocity Points. You'll earn 20,000 bonus Velocity Points when you apply for the American Express Velocity Escape Plus Card online and spend $1,000 on eligible purchases within the first 3 months from approval. Offer available for new American Express Card Members only. The bonus points will be awarded to your account within 8-10 weeks after you meet the spend requirement.
$50 Virgin Australia Statement Credit. You'll receive $50 back when you save this benefit to your American Express Velocity Escape Plus Card and spend $50 on eligible flights with Virgin Australia, once per redemption period. The redemption periods are:
- 30 October 2024 – 31 December 2024
- 1 January 2025 – 31 December 2025
- 1 January 2026 – 31 December 2026

Uncapped Velocity Points earning potential. This card earns 1 point per $1 on most eligible spending, except Australian government bodies where you'll earn 0.5 points per $1. But after the first 12,000 points earned in a calendar year, the earn rate changes to 0.75 points per $1 spent. You'll also earn 1.75 points per $1 spent on eligible purchases with Virgin Australia.
Additional cardholders. You can earn more points and manage expenses under one account by requesting up to 4 additional cardholders at no additional cost.
Complimentary travel insurance. Use this card to pay for your return trip and you'll get access to travel insurance that includes medical emergency expenses cover, personal liability, personal baggage, valuables, money and travel documents cover and trip cancellation and amendment cover. The insurance policy document on the American Express website gives you full details of what's covered, the eligibility requirements and how to make a claim. Terms, conditions and exclusions apply (such as maximum age limits, pre-existing medical conditions and cover limits).
Mobile payments. If you have a compatible smartphone device, you can use the American Express Velocity Escape Plus Card to make contactless payments with Google Pay , Apple Pay or Samsung Pay .
Security. If your card is lost, stolen or damaged, you can contact the American Express 24-hour global card support team and request an emergency card replacement. Your purchases are also secured by an online fraud protection guarantee.

Rates & fees

Annual fee. This card charges an annual fee of $95.
Purchase rate . The Amex Velocity Escape Plus Card has a 23.99% p.a. interest rate for purchases.

Interest-free days. If you pay your account balance in full by the statement due date, you'll get up to 55 days interest-free on purchases.
Foreign currency conversion fee. Using this card overseas or for payments made online in a foreign currency will attract a fee worth 3% of the total transaction amount.
No cash advances. You can't use the American Express Velocity Escape Plus Card to pay for gambling services, to get cash out or for any other cash advance transactions .

Go to American Express's site More info

Sources

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Amy Finder

Editor

Hi there, looking for more information? Ask us a question.

You are about to post a question on finder.com.au:

Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
finder.com.au is a financial comparison and information service, not a bank or product provider
We cannot provide you with personal advice or recommendations
Your answer might already be waiting – check previous questions below to see if yours has already been asked

Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Phark

July 13, 2023

Does This Card Allow Cash Advance Please? Thanks Very Much x

Sarah Megginson Finder

July 14, 2023

Hi Phark, The American Express Velocity Escape Credit Card does not offer cash advances.

Maleeha

June 26, 2023

I am interested in applying for the credit card but before I do that need clarification on the below 2 questions:

1. If I pay the amount within 55 days will there be any monthly fee?

2. Moreover, is there any card holding fee?

Amy Bradney-George Finder

June 28, 2023

Hi Maleeha,

There is no monthly fee on this card. You’ll get up to 55 days interest-free on purchases in each statement period if you repay the total amount listed on each statement by the due date. You can learn more about how interest-free days work in Finder’s guide to avoid interest charges on your purchases.

This card has no annual fee and no “card holding fee” (not a common term in Australia). The other fees and charges that may apply in different situations are listed on this guide and on the American Express website. I hope this helps.

Show more Show less

Charmaine

September 25, 2018

The one time 1% balance transfer fee, how does this work and why does this need to be done?

John Basanes Finder

September 27, 2018

Hi Charmaine,

Thank you for leaving a question.

The 1% credit plan establishment fee applies to the balance which you transferred. This is debited during the time of the balance transfer. Hope this helps!

Cheers,

Reggie

Lyn

December 09, 2016

Can you please advise how to redeem reward points in Amex.

Jason Finder

December 09, 2016

Hi Lyn,

Thank you for your enquiry.

You may redeem your Velocity Reward from the American Express Velocity Escape Card by logging into your Velocity Rewards account and click on the redeem tab in the top menu.

Please read through our Velocity Frequent Flyer Program guide to know more about how to redeem your Velocity reward points.

I hope this helps,

Kind regards,

Jason

Show more Show less

Lucie

October 24, 2016

How many points do you need to accumulate $100 value.

Thank you.

May Finder

October 28, 2016

Hi Lucie,

Thank you for your question.

The American Express Velocity Escape Card lets you earn 2 Velocity Points for every dollar you spend with Virgin Australia and 1 Velocity point for every dollar you spend on other eligible purchases. The points you get do not have monetary value so we may not be able to compute the equivalent of points in dollars.

Cheers,

May

Show more Show less

American Express Velocity Escape Plus Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits*

Rates & fees

Your reviews

Important information about this website

Advertiser disclosure

How we make money

Sorting and ranking products

Terms of service and privacy policy