Best Credit Card for Velocity Frequent Flyer Points – October 2024

Velocity Frequent Flyer is the second largest frequent flyer program in Australia, but it is still very easy to earn Velocity Points through rewards credit cards.

This guide will go through all the essential information you need to find the best Velocity-earning credit card for you.

Best Virgin Australia Velocity Frequent Flyer credit card sign-up bonus point offers as of October 2024

Card	Bonus Points	Annual Fee	Offer end date
Velocity Points
Citi Premier Credit Card ↓	110,000 Velocity Points*	$300 p.a.	31 October 2024
America Express Platinum Business Card ↓	175,000 Velocity Points*	$1,750 p.a. ongoing	5 November 2024
American Express Velocity Business Card ↓	150,000 Velocity Points	$249 p.a. ongoing	6 November 2024
ANZ Rewards Platinum ↓	Up to 100,000 Velocity Points	$149 p.a.	15 November 2024
American Express Platinum Card ↓	75,000 Velocity Points*	$1,450 p.a.	28 January 2025
St.George Amplify Rewards Signature ↓	75,000 Velocity Points*	$199 for the first year, $295 p.a. ongoing	30 November 2024
Westpac Altitude Black ↓	50,000 Velocity Points*	$150 for the first year, $295 p.a. ongoing	30 November 2024
American Express Explorer Credit Card ↓	25,000 Velocity Points*	$395 p.a.	ongoing
* Equivalent Velocity Points when transferred

The offers displayed on this page are selected from a range of products across pointhacks.com.au as at the time of publishing this article. The use of terms “Best” and “Top” are derived from the highest bonus points offered.

What is the best credit card for Velocity Frequent Flyer Points?

Find below a roundup of some Velocity Point earning cards with noteworthy bonus offers to know about this month.

What are the best ways to earn Velocity Points with a credit card?

1. Direct earn: These are Velocity co-branded credit cards that will earn you a set number of Velocity points per dollar, with the total amount being automatically transferred to your account monthly.
   
   The benefit of these cards is that you will usually get other Velocity-related perks as well, such as lounge passes and Virgin Australia gift vouchers.
   
   Currently, Virgin Money, Westpac and American Express offer these cards.
   
2. Transfer from other rewards programs: These credit cards will accumulate their own rewards points, which can then be later transferred to Velocity Frequent Flyer or other airline partners.
   
   The main benefit of this arrangement is that you have flexibility in where your rewards points go. Just send them to your Velocity account when it suits you, rather than wait for a monthly transfer. Sometimes, there are bonuses for transferring too.
   
   Most major banks offer this option, including American Express, ANZ, Commbank, NAB, Citibank and St.George.

What to look for when searching for the best Velocity frequent flyer credit card

• Bonus points offer: Most rewards cards will have bonus points offers to lure new customers in. Often these are the easiest ways to give your Velocity balance a huge boost, meaning you can redeem premium reward seats quicker.
  
  Just be mindful not to be distracted from doing your due diligence. Check annual fees and spending criteria before applying.
• Earn rates: This is the next most important consideration – how many Velocity Points can you earn on an ongoing basis? One of the highest earn rates is 1.25 Velocity points per dollar, uncapped, through American Express.
  
  Most non-Amex cards will earn 0.5 to 1 point per dollar, depending on the card type. Some cards will have caps on the number of points earned per month, which is not so great if you have got a few large purchases coming up.
• Bonus travel inclusions: Some higher-end Velocity credit cards will throw in extras to enhance your travel experience. These include Virgin Australia lounge passes, free return domestic flights, and travel credits. 
  
  Consider if these will be of any use to you. For example, Velocity Gold and Platinum members already have access to Virgin Australia lounges, so bonus lounge passes may be of limited use.

• Included insurances: Platinum-grade Velocity frequent flyer credit cards tend to include some form of complimentary insurances. Most common is travel insurance, which is activated when you purchase flights or accommodation with the card.
  
  Be sure to read the Product Disclosure Statements (PDS) very carefully, as these free insurances often have lots of clauses that can catch you out.
  
  Other cards might go above-and-beyond and include price-drop protection, extra extended warranties on products, or even smartphone screen damage cover.

What to be mindful of with Velocity Frequent Flyer credit cards

Like any other credit card, you should take the following financial factors into account when deciding which Velocity Frequent Flyer rewards card is best for you.

• Annual fee: The bigger the inclusions with your rewards credit card, the higher the annual fee generally is. You need to decide whether paying $375 a year is worth it for a card that includes four lounge passes and a free domestic return flight, for example.
  
  Unless there’s a special ‘no annual fee’ promotion, expect most Velocity-earning credit cards to have some sort of annual fee to cover part of the costs of your benefits.
• Interest rate: All rewards cards have high-interest rates – they simply are not designed for carrying a balance over month-to-month. If you have issues with credit card debt, a Velocity rewards card may not be the best option right now, as the fees and interest incurred will outweigh any Velocity points earned.
• Interest-free days: Most credit cards will allow between 44-55 days interest-free for your purchases, which is standard. This gives you a little breathing space to pay off your purchases next month.
• Income requirements: Platinum-level Velocity credit cards will usually require a higher income level to apply for it. You will usually have to back up your reported income with electronic payslips or bank statements.
  
  If you live with a partner, your combined household income might be taken into account as well. Check the terms and conditions carefully before applying.

What do I need to know before I apply for a Velocity credit card?

Here’s a quick checklist of what you should know before applying for a Velocity credit card:

1. Am I eligible for the bonus points? Most cards will exclude you from bonus points if you have held their credit cards in the last 12-18 months. This will be in the terms and conditions.
2. Can I easily fulfil the criteria for bonus points? Most bonus point offers will require you to spend more than a certain amount (often $1000+) per month, for a few months.
   
   If this is difficult for you to achieve with normal household spend or paying some bills early up-front, then re-consider your need for the credit card.
3. Is my credit score healthy? The chances of having your application accepted are much better if you have a good credit history.

How can I earn Velocity points after I get my credit card?

Once you get your Velocity credit card, be sure to meet the minimum spend requirements to unlock your sign-up bonus. Once that’s done and dusted, there are a few strategies to ensure you keep on earning plenty of Velocity Points.

• Put your everyday purchases on the card: from flights to groceries, fuel to concert tickets, you can maximise your points earn by putting most of your normal household expenses on the credit card and paying it off in full every month.

• Keep an eye out for bonus partners: Velocity has teamed up with many companies which offer bonus points with purchases, such as through the Velocity e-store or through swiping your Flybuys card at Coles.

• Take advantage of transfer promos: If you have an indirect earn Velocity credit card, consider transferring your rewards points over to Velocity when there is a transfer bonus. This could give you a huge chunk of extra points, just for transferring at the right time!

Frequently asked questions

The following answers are general advice and do not take into account your personal circumstances. Be sure to consider all aspects of a Velocity credit card before applying.

What credit card gives the best flight points?

Generally, American Express credit cards will offer the highest sign-up bonuses and daily Velocity points earn rates. However, be mindful that annual fees are often higher and acceptance of American Express is not as widespread as Visa or Mastercard.

What is the best frequent flyer credit card?

The best frequent flyer card depends on everyone’s individual circumstances. This guide will help you understand all aspects of a Velocity-branded credit card so you can make the best choice for yourself.

What credit cards can earn Velocity points?

As of this year, these banks issue credit cards that can earn Velocity points: American Express, Virgin Money, ANZ, Commonwealth Bank, NAB, Citibank, St. George, Bank of Melbourne, BankSA, Diners Club, Suncorp and BOQ.