American Express Velocity Escape Card

What do you want this card for?
Save money
Earn points
Offer
Card features
balance transfer
purchase rate
annual fee
Apply
American Express Velocity Escape Card
No annual card fee to pay each year.
Base earn rate is 0.75 pt per $1 spent. Get an additional 1 point per $1 when spending with Virgin Australia.
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
Add to comparison
12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$0
ongoing

Pros & cons

What's good?

What's not so good?

No annual fee from year to year which is rare for a frequent flyer credit card.
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 additional Velocity Point per $1 spent on purchases with Virgin Australia.
Earn an additional 0.25 Velocity Points per $1 spent on purchases, except for spend at government bodies in Australia, until 14 April 2019.
Purchase protection and refund protection.
Online fraud protection guarantee.
The interest rate is as high as you’d expect for a premium credit card.
The small balance transfer fee.
Not all businesses accept American Express and some of them will add surcharges to your purchases.

User reviews

3.6 out of 5.0 based on 1 review100% of reviewers would recommend this card

Rates and fees
Customer service
Convenience
Trust

Reviews from users

Use it anywhere

Reviewed and recommended by Jonathan on 20 Sep 2016

It’s very effective and works very well, and also it’s reliable. Also you can use it anywhere around the country.

The colour of the card looks awesome as well. You can use it at any ATM too. I have used this card for three years and it’s great value.

Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
American Express
Card use
Personal
Credit rating
No bad credit history
Gambling transactions allowed
No
Joint application
N/A
Minimum age
18 years old
Minimum income
$40,000
Minimum income for pensioners
Same as standard
Pensioners
N/A
Rewards program
Velocity Frequent Flyer
Temporary residents
Business Long Stay Visa (subclass 457)

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$2,000
Maximum credit limit
$25,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit20.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
$10,000 or 70% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the American Express Velocity Escape Card at the promotional balance transfer rate from:

  • American Express

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit 20.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances N/A N/A
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$0 p.a.
Cash advance fee
None
Dishonour fee
$6
Duplicate statement fee
$10
Foreign exchange fee
3%
Late payment fee
$30
Over limit fee
$15
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
N/A
Overseas emergency card replacement fee
N/A
Transaction verification fee
$7

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
0.75 pt per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
0.5 pts per $1 spent
Reward points
0.75 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
No

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $40,000 per year
Have no history of bad credit
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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