Best Credit Cards with Velocity Points – Compare & Save

Best Credit Cards with Velocity Points – Compare & Save

If you’re looking to maximize your Velocity Points earnings and enjoy a range of travel perks, a credit card that earns Velocity Points could be the perfect addition to your wallet. With the right card, you can accumulate points on everyday spending, unlock bonus points offers, and take advantage of complimentary insurances and other benefits. In this article, we’ll explore the world of Velocity Points credit cards, helping you understand how they work and how to choose the best card for your needs.

Understanding Velocity Points and How to Earn Them

What are Velocity Points?

Velocity Points are the rewards currency of the Virgin Australia Velocity Frequent Flyer program. As a loyalty program member, you can earn Velocity Points on flights with Virgin Australia and its partners, as well as through everyday spending with Velocity-partnered retailers and service providers. These points can then be redeemed for flights, upgrades, hotels, car hire, and merchandise.

Velocity Points earned on everyday spend are automatically loaded into your Velocity account each month, making it easy to keep track of your balance and plan your rewards. With over 11.5 million members, the Velocity Frequent Flyer program is one of Australia’s most popular loyalty schemes.

Earning Velocity Points Through Credit Card Spending

One of the most effective ways to boost your Velocity Points balance is by using a credit card that earns Velocity Points on everyday purchases. These cards award points per dollar spent on eligible transactions, which can quickly add up over time. Many cards also offer bonus points for spending in specific categories, such as travel or dining, allowing you to accelerate your earnings even further.

In addition to regular points earned on spending, many Velocity Points credit cards come with generous sign-up bonuses, which can see you pocket tens of thousands of extra points when you meet a minimum spend requirement within a set period. These bonus points can give your Velocity account a significant boost, putting your dream rewards within closer reach.

Top Credit Cards for Earning Velocity Points

American Express Velocity Platinum Card

The American Express Velocity Platinum Card is a top pick for frequent flyers, offering a complimentary return domestic economy flight each year, as well as two single-entry Virgin Australia lounge passes. Cardholders can also enjoy a generous sign-up bonus of up to 100,000 Velocity Points when they meet the minimum spend criteria.

Other perks of the American Express Velocity Platinum Card include a $129 Virgin Australia Gift Voucher each year, a complimentary Priority Pass membership for airport lounge access worldwide, and comprehensive travel insurances. The card does come with a $375 annual fee, but the value of the benefits can easily outweigh this cost for regular travelers.

Virgin Australia Velocity High Flyer Card

The Virgin Australia Velocity High Flyer Card is another strong contender, with a lower annual fee of $289 and a range of useful travel benefits. Cardholders receive two complimentary single-entry Virgin Australia lounge passes each year, as well as a complimentary economy X seat upgrade per year and a $129 Virgin Australia Gift Voucher.

With the Virgin Australia Velocity High Flyer Card, you can earn 1 Velocity Point per $1 spent on eligible everyday purchases, and 1 additional Velocity Point per $1 spent on eligible Virgin Australia purchases. The card also offers complimentary travel insurances and purchase protection.

Westpac Altitude Black and Platinum Credit Cards

Card Bonus Points Offer Minimum Spend Annual Fee
Westpac Altitude Black 90,000 Velocity Points $6,000 in 120 days $295 ($75 extra for Altitude Velocity rewards)
Westpac Altitude Platinum 70,000 Velocity Points $4,000 in 90 days $99 first year, $175 thereafter

The Westpac Altitude Black and Platinum credit cards are competitive options for Velocity Points collectors. The Altitude Black card offers a generous 90,000 bonus points when you spend $6,000 in the first 120 days. This comes with an annual fee of $295, plus an additional $75 if you choose the Altitude Velocity rewards option.

For a lower annual fee option, the Westpac Altitude Platinum card comes with 70,000 bonus points when you spend $4,000 within 90 days. The annual fee is just $99 in the first year, increasing to $175 thereafter.

Maximizing Velocity Points with Credit Card Perks and Offers

Complimentary Insurances and Purchase Protection

Many Velocity Points credit cards come with complimentary insurance covers that can save you money and provide peace of mind when traveling or making significant purchases. These often include international travel insurance, transit accident insurance, extended warranty, and purchase protection for eligible items bought with your card.

Be sure to read through your card’s insurance terms and conditions carefully, as coverage limits, exclusions, and activation requirements can vary between policies. By understanding your insurance benefits, you can avoid unnecessary out-of-pocket expenses on your travels or purchases.

Bonus Points Offers and Promotions

Throughout the year, many Velocity Points credit cards run limited-time bonus points offers and promotions to entice new customers and reward existing cardholders. These can include increased sign-up bonuses, bonus points for spending in specific categories, or bonus points for transferring rewards points from other programs.

Keep an eye out for these promotions and be ready to take advantage of them when they align with your spending habits and rewards goals. By strategically timing your card application or spend, you can significantly boost your Velocity Points earn rate and reach your dream rewards sooner.

Redeeming Velocity Points for Maximum Value

Flights, Upgrades, and Travel Experiences

Velocity Points are best used for flights and upgrades with Virgin Australia and its partner airlines. You can redeem your points for economy, premium economy, business, or first-class flights, depending on the route and availability. As a general rule, you’ll get the most value per point when redeeming for premium cabins or long-haul flights.

For example, a one-way business class flight from Sydney to Fiji can cost as little as 17,800 Velocity Points plus taxes and fees, while an economy flight from Sydney to the Gold Coast starts at just 6,200 points. You can also use your points to book hotel stays, rental cars, and even unique travel experiences like winery tours or hot air balloon rides.

Merchandise, Gift Cards, and More

In addition to travel redemptions, Velocity Points can be used for a wide range of merchandise, gift cards, and other rewards through the Velocity Rewards Store. Here, you can redeem your points for electronics, homewares, fashion items, and more from popular brands.

While merchandise redemptions generally offer lower value per point than flights, they can still be a good option if you have a specific item in mind or prefer non-travel rewards. Gift card redemptions are also available for a variety of retailers and services, providing a flexible way to use your points for everyday purchases.

Choosing the Right Velocity Points Credit Card for You

Assessing Your Spending Habits and Preferences

When choosing a Velocity Points credit card, it’s essential to consider your spending habits and lifestyle preferences. Look for a card that offers bonus points categories that align with your most frequent purchase types, such as groceries, fuel, or dining out. This will help you maximize your points earn rate on everyday spend.

Also, think about the types of rewards and benefits you value most. If you’re a frequent traveler, prioritize cards with airport lounge access, travel credits, and comprehensive insurance covers. If you prefer to keep things simple, look for a card with a straightforward earn rate and uncomplicated rewards program.

Comparing Annual Fees, Interest Rates, and Eligibility

Before applying for a Velocity Points credit card, be sure to compare the annual fees, interest rates, and eligibility criteria of different options. Consider whether the value of the rewards and benefits you’ll receive will outweigh the annual fee, and make sure you can meet any minimum income or credit score requirements.

If you tend to carry a balance on your credit card, prioritize cards with lower interest rates to minimize the cost of your debt. Alternatively, consider a card with an introductory 0% p.a. balance transfer offer to help you pay down existing debt faster.

By assessing your spending habits, comparing key card features, and reading the fine print, you can find the Velocity Points credit card that best fits your needs and helps you get the most value out of your everyday spending.

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