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- Bonus Offer
- Flyer Points Per $
- Annual Fee
- Net Rewards
Westpac Altitude Velocity Black
- Bonus Offer 150,000
Velocity Points - Flyer Points Per $ 0.25 - 1.2
- Annual Fee $370
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$295$0
Signup Bonus$0 Point Earn$295
Annual FeeYear 2: -$370$0 Signup Bonus$0 Point Earn$370 Annual FeeTotal Net Value -$295Total Net Value -$370
Westpac Altitude Velocity Black
- Virgin Lounge Access
- Frequent Flyer PointsFrequent Flyer PointsAirport Lounge Access2 single-entry Virgin Australia Domestic Lounge passes each yearTravel InsuranceInternational Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceMobile PayApple Pay, Fitpay, Google Pay, Samsung Pay
Purchase Interest Rate: 20.99% p.a.
Cash Advance Rate: 21.99% p.a.
Annual Fee: $370
Minimum Credit Limit: $6,000
Annual Fee Offer: $275 in 1st year existing Westpac customers
Additional Cardholders: 1 additional cardholder at no extra cost
Interest Free Days: 45 days
Minimum Repayment: Greater of $10 or 2% of the closing balance
Late Payment Fee: $15
Purchase Protection: Yes
Concierge Service: Yes
Mobile Pay: Apple Pay, Fitpay, Google Pay, Samsung Pay
Travel Insurance: International Travel Insurance
Airport Lounge: 2 single-entry Virgin Australia Domestic Lounge passes each year
Bonus Points Offer: 150,000 Velocity Points . 90,000 Velocity points when you spend $6,000 on eligible purchases within 90 days from approval. Then another 6,000 Velocity points when you spend $6,000 on eligible purchase in year 2. Offer excludes customers who hold/held Altitude Platinum or Altitude Black card with Altitude Rewards, Qantas or Velocity in the last 24 months.
Points Per $1 Spend: 1.2 Velocity points on international spend. 0.8 Velocity points on everyday purchases and 0.5 Velocity points on all other purchases, then after you reach $10,000 spend you'll earn 0.25 Velocity points per $1 spent in each statement period.
Point Earning Limit: Partially Capped
Redeem Points: 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges. 10,696 Velocity points can get you a $50 gift card.
American Express Platinum
- Bonus Offer 112,500
Velocity Points - Flyer Points Per $ 0.5 - 1.13
- Annual Fee $1,450
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$1,450$0 Signup Bonus$0 Point Earn$1,450 Annual FeeYear 2: -$1,450$0 Signup Bonus$0 Point Earn$1,450 Annual FeeTotal Net Value -$1,450Total Net Value -$1,450
American Express Platinum
- Top 3 Premium
- Top 5 Travel Perks
- More Top CategoriesTop 3 Everyday RewardsTop 3 Online Purchases
- $450 Travel Credit Per Year
- Multiple Unlimited Lounge Access
- CashbackCashbackFrequent Flyer PointsFrequent Flyer PointsAirport Lounge AccessUnlimited access for you and a guest to 1,800+ airport lounges including Centurion Lounge, Priority Pass and moreTravel ServicesInternational Airline Program for savings of up to 20% on First and Business Class fares with leading airlines like Qantas Airways, Virgin Australia, Emirates and more.Travel InsuranceDomestic & International Travel InsuranceShopping ProtectionPurchase Protection
Refund ProtectionConcierge ServiceConcierge ServiceDining$400 Global Dining Credit per yearHotelFine Hotels & Resorts Program, Accor Plus membership valued at $349 p.a., Hotel Elite Status Program & International Airline ProgramMobile PayApple Pay, Samsung Pay, Google PayEntertainmentAmex Experiences and Digital news access with the Australian Premium Subscription
Annual Fee: $1450
Interest Free Days: 44 days
Additional Cardholders: Up to 4 additional cards for family members or friends at no extra fee
Purchase Protection: Yes
Travel Insurance: Domestic & International Travel Insurance
Mobile Pay: Apple Pay, Samsung Pay, Google Pay
Travel Credit: $450 Travel Credit Per Year
Dining: $400 Global Dining Credit per year
Airport Lounge: Unlimited access for you and a guest to 1,800+ airport lounges including Centurion Lounge, Priority Pass and more
Entertainment: Amex Experiences and Digital news access with the Australian Premium Subscription
Travel Services: International Airline Program for savings of up to 20% on First and Business Class fares with leading airlines like Qantas Airways, Virgin Australia, Emirates and more.
Concierge Service: Yes
Hotel: Fine Hotels & Resorts Program, Accor Plus membership valued at $349 p.a., Hotel Elite Status Program & International Airline Program
Bonus Points Offer: 225,000 Membership Rewards Points when you apply online and spend a minimum $5,000 in first 3 months of approval. Offer is only available to new AMEX card members or non-card members within the last 18 months.
Points Per $1 Spend: 2.25 Membership Rewards points on purchases. 1 Membership Rewards point on government body transactions in Australia.
Point Earning Limit: Uncapped
Flyer Points Conversion Rate: 1 Membership Rewards point = 0.5 Velocity points.
Redeem Points: 10,000 Rewards points gets you a $50 gift card or cashback. 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges.
MyCard Premier
- Bonus Offer 110,000
Velocity Points - Flyer Points Per $ 0.5 - 1
- Annual Fee $300
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$300$0 Signup Bonus$0 Point Earn$300 Annual FeeYear 2: -$300$0 Signup Bonus$0 Point Earn$300 Annual FeeTotal Net Value -$300Total Net Value -$300
MyCard Premier
- Priority Pass Lounge Access
- CashbackCashbackFrequent Flyer PointsFrequent Flyer PointsAirport Lounge Access2 Priority Pass airport lounge visits each year to over 1,900+ lounges worldwideTravel InsuranceDomestic & International Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceSmartphone Screen InsuranceSmartphone Screen InsuranceHotelLuxury Escapes up to 15% Discounts ($250 per booking) off Hotels Overseas and up to 10% off on Hotels within Australia or Overseas tours (up to $250 per booking). 10% off selected hotels on Expedia or Wotif.Mobile PayApple Pay, Samsung PayEntertainmentUp to $100 cashback on Uber Premier ride.
Purchase Interest Rate: 22.49% p.a.
Minimum Credit Limit: $10,000
Annual Fee: $300
Maximum Credit Limit: $100,000
Interest Free Days: 44 days
Additional Cardholders: Up to 4 additional cardholders at no extra cost
Cash Advance Rate: 22.99% p.a.
Minimum Repayment: Greater of $25 or 2% of the closing balance
Late Payment Fee: $30
Purchase Protection: Yes
Concierge Service: Yes
Smartphone Screen Insurance: Yes
Travel Insurance: Domestic & International Travel Insurance
Mobile Pay: Apple Pay, Samsung Pay
Airport Lounge: 2 Priority Pass airport lounge visits each year to over 1,900+ lounges worldwide
Entertainment: Up to $100 cashback on Uber Premier ride.
Hotel: Luxury Escapes up to 15% Discounts ($250 per booking) off Hotels Overseas and up to 10% off on Hotels within Australia or Overseas tours (up to $250 per booking). 10% off selected hotels on Expedia or Wotif.
Bonus Points Offer: 150,000 MyCard Reward Points . 120,000 Reward points when you spend $7,000 on eligible purchases within 90 days from approval and 30,000 Reward points when keep your card open for over 12 months.
Points Per $1 Spend: 1 MyCard Reward point on eligible domestic spend. 2 MyCard Reward points on all eligible transactions made online and international spend.
Point Earning Limit: Capped
Flyer Points Conversion Rate: 1 MyCard Reward point = 0.5 Velocity points.
Redeem Points: 10,500 MyCard reward points can get you a $50 gift card or 20,000 points for $50 cashback.
Virgin Velocity High Flyer
- Bonus Offer 100,000
Velocity Points - Flyer Points Per $ 1 - 3
- Annual Fee $329
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$329$0 Signup Bonus$0 Point Earn$329 Annual FeeYear 2: -$329$0 Signup Bonus$0 Point Earn$329 Annual FeeTotal Net Value -$329Total Net Value -$329
Virgin Velocity High Flyer
- Top 5 Frequent Flyer Points
- $129 Virgin Australia Voucher Per Year
- Virgin Lounge Access
- Frequent Flyer PointsFrequent Flyer PointsAirport Lounge Access2 Single entry Virgin Australia Domestic Lounge passes each yearTravel InsuranceInternational Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceMobile PayApple Pay, Samsung PayEntertainmentVisa Entertainment
Purchase Interest Rate: 20.74% p.a.
Minimum Credit Limit: $15,000
Annual Fee: $329
Maximum Credit Limit: $100,000
Interest Free Days: 44 days
Additional Cardholders: $89 annual fee per additional cardholder
Cash Advance Rate: 20.99% p.a.
Minimum Repayment: Greater of $30 or 2% of the closing balance
Late Payment Fee: $30
Purchase Protection: Yes
Concierge Service: Yes
Mobile Pay: Apple Pay, Samsung Pay
Travel Insurance: International Travel Insurance
Entertainment: Visa Entertainment
Travel Credit: $129 Virgin Australia Voucher Per Year
Airport Lounge: 2 Single entry Virgin Australia Domestic Lounge passes each year
Bonus Points Offer: 100,000 Velocity Points . 80,000 Velocity points when you spend $3,500 each month on eligible purchases in the first 2 months from approval. Then 20,000 Velocity points when you keep your card open for over 12 months. Offer is not available to existing Virgin Money Credit Card holders.
Points Per $1 Spend: 1 Velocity point on purchases for spend up to $8,000 and 0.5 Velocity points after that in each statement period. 2 bonus Velocity points on purchases directly with Virgin Australia.
Point Earning Limit: Uncapped
Redeem Points: 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges. 10,696 Velocity points can get you a $50 gift card.
American Express Velocity Platinum
- Bonus Offer 100,000
Velocity Points - Flyer Points Per $ 0.5 - 2.25
- Annual Fee $440
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$440$0 Signup Bonus$0 Point Earn$440 Annual FeeYear 2: -$440$0 Signup Bonus$0 Point Earn$440 Annual FeeTotal Net Value -$440Total Net Value -$440
American Express Velocity Platinum
- Top 5 Frequent Flyer Points
- Free Virgin Australia Economy domestic return flight & up to 100 Bonus Velocity Status Credits Yearly
- Virgin Lounge Access
- Frequent Flyer PointsFrequent Flyer PointsAirport Lounge AccessUnlimited access to Virgin Australia lounges at select domestic airports, every time you fly Virgin Australia domestically. And for your guests travelling with you, 2 single entry passes to the Virgin Australia Lounge.Shopping ProtectionPurchase Protection
Refund ProtectionMobile PayApple Pay, Samsung Pay, Google Pay
Purchase Interest Rate: 23.99% p.a.
Minimum Credit Limit: $3,000
Annual Fee: $440
Additional Cardholders: Up to 4 additional cards for family members or friends at no extra fee
Interest Free Days: 55 days
Minimum Repayment: Greater of $30 or 2.5% of the closing balance
Late Payment Fee: $30
Purchase Protection: Yes
Travel Credit: Free Virgin Australia Economy domestic return flight & up to 100 Bonus Velocity Status Credits Yearly
Mobile Pay: Apple Pay, Samsung Pay, Google Pay
Airport Lounge: Unlimited access to Virgin Australia lounges at select domestic airports, every time you fly Virgin Australia domestically. And for your guests travelling with you, 2 single entry passes to the Virgin Australia Lounge.
Bonus Points Offer: 100,000 Velocity Points 70,000 Velocity points when you apply online and spend a minimum $5,000 in first 3 months from approval. Plus, an additional 30,000 Velocity points when you spend a further $5,000 on eligible purchases within the first 3 months of your second year. Offer is only available to new AMEX card members or non-card members within the last 18 months.
Points Per $1 Spend: 1.25 Velocity points on purchases. 0.5 Velocity points on government body transactions in Australia. 2.25 Velocity points on eligible purchases with Virgin Australia.
Point Earning Limit: Uncapped
Redeem Points: 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges. 10,696 Velocity points can get you a $50 gift card.
St.George Amplify Signature
- Bonus Offer 100,000
Velocity Points - Flyer Points Per $ 0.25 - 1.5
- Annual Fee $295
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$199$0 Signup Bonus$0 Point Earn$199 Annual FeeYear 2: -$295$0 Signup Bonus$0 Point Earn$295 Annual FeeTotal Net Value -$199Total Net Value -$295
St.George Amplify Signature
- Priority Pass Lounge Access
- Frequent Flyer PointsFrequent Flyer PointsAirport Lounge Access2 Priority Pass airport lounge visits each year to over 1,900+ lounges worldwideTravel InsuranceDomestic & International Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceHotelVisa Luxury Hotel CollectionMobile PayApple Pay, Samsung Pay, Google PayEntertainmentVisa Entertainment
Purchase Interest Rate: 20.99% p.a.
Cash Advance Rate: 21.99% p.a.
Annual Fee: $295
Minimum Credit Limit: $15,000
Annual Fee Offer: $199 in 1st year or $99 for existing customers
Additional Cardholders: 1 additional cardholder at no extra cost
Interest Free Days: 55 days
Minimum Repayment: Greater of $10 or 2% of the closing balance
Late Payment Fee: $15
Purchase Protection: Yes
Concierge Service: Yes
Mobile Pay: Apple Pay, Samsung Pay, Google Pay
Travel Insurance: Domestic & International Travel Insurance
Entertainment: Visa Entertainment
Airport Lounge: 2 Priority Pass airport lounge visits each year to over 1,900+ lounges worldwide
Hotel: Visa Luxury Hotel Collection
Bonus Points Offer: 200,000 Amplify Points . 100,000 Amplify points when you spend $12,000 on eligible purchases within the first year from approval. Then another 100,000 Amplify points when you spend $12,000 on eligible purchase in year 2. Offer is only available to new St.George Amplify cardholders or those who haven't held an Amplify card from St.George, Bank of Melbourne or BankSA within the last 24 months.
Points Per $1 Spend: 2 Amplify points on everyday spend and 1 Amplify point on all other purchases. 3 Amplify points on international spend. After $10,000 spend you will earn 0.5 Reward points after in each statement period.
Point Earning Limit: Partially Capped
Flyer Points Conversion Rate: 1 Amplify point = 0.5 Velocity points.
Redeem Points: 11,100 Amplify Points gets you a $50 e-gift card. 5,900 Velocity points you can fly from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges.
Westpac Altitude Rewards Platinum
- Bonus Offer 100,000
Velocity Points - Flyer Points Per $ 0.17 - 0.66
- Annual Fee $175
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$99$0 Signup Bonus$0 Point Earn$99 Annual FeeYear 2: -$175$0 Signup Bonus$0 Point Earn$175 Annual FeeTotal Net Value -$99Total Net Value -$175
Westpac Altitude Rewards Platinum
- CashbackCashbackFrequent Flyer PointsFrequent Flyer PointsTravel InsuranceInternational Travel InsuranceShopping ProtectionPurchase ProtectionMobile PayApple Pay, Fitpay, Google Pay, Samsung Pay
Purchase Interest Rate: 20.99% p.a.
Cash Advance Rate: 21.99% p.a.
Annual Fee: $175
Minimum Credit Limit: $3,000
Annual Fee Offer: $99 in 1st year or $49 for existing Westpac customers
Additional Cardholders: 1 additional cardholder at no extra cost
Interest Free Days: 45 days
Minimum Repayment: Greater of $10 or 2% of the closing balance
Late Payment Fee: $15
Purchase Protection: Yes
Mobile Pay: Apple Pay, Fitpay, Google Pay, Samsung Pay
Travel Insurance: International Travel Insurance
Bonus Points Offer: 100,000 Altitude Rewards Points . 75,000 Altitude points when you spend $3,000 on eligible purchases within 90 days from approval and 25,000 Altitude points if you keep your card open for more than 12 months. Offer excludes customers who hold or have held Altitude Platinum or Altitude Black card with Altitude Rewards, Qantas or Velocity in the last 24 months.
Points Per $1 Spend: 2 Altitude Rewards points on international spend. 1.25 Altitude Rewards points on everyday purchases and 1 Altitude Rewards point on all other purchases, then after you reach $5,000 spend you'll earn 0.5 Altitude Rewards Points per $1 spent in each statement period.
Point Earning Limit: Partially Capped
Flyer Points Conversion Rate: 1 Altitude Rewards point = 0.33 Velocity points.
Redeem Points: 11,300 Altitude points can get you a $50 gift card or 14,100 Altitude points for $50 cashback. 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges.
Westpac Altitude Velocity Platinum
- Bonus Offer 100,000
Velocity Points - Flyer Points Per $ 0.2 - 0.75
- Annual Fee $250
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$175$0 Signup Bonus$0 Point Earn$175 Annual FeeYear 2: -$250$0 Signup Bonus$0 Point Earn$250 Annual FeeTotal Net Value -$175Total Net Value -$250
Westpac Altitude Velocity Platinum
- Economy Seat Upgrades
- Frequent Flyer PointsFrequent Flyer PointsAirport Lounge Access2 Economy X seat upgrade vouchers for eligible domestic flights each yearTravel InsuranceInternational Travel InsuranceShopping ProtectionPurchase ProtectionMobile PayApple Pay, Fitpay, Google Pay, Samsung Pay
Purchase Interest Rate: 20.99% p.a.
Cash Advance Rate: 21.99% p.a.
Annual Fee: $250
Minimum Credit Limit: $3,000
Annual Fee Offer: $174 in 1st year for existing Westpac customers
Additional Cardholders: 1 additional cardholder at no extra cost
Interest Free Days: 45 days
Minimum Repayment: Greater of $10 or 2% of the closing balance
Late Payment Fee: $15
Purchase Protection: Yes
Travel Insurance: International Travel Insurance
Mobile Pay: Apple Pay, Fitpay, Google Pay, Samsung Pay
Airport Lounge: 2 Economy X seat upgrade vouchers for eligible domestic flights each year
Bonus Points Offer: 100,000 Velocity Points . 70,000 Velocity points when you spend $4,000 on eligible purchases within 90 days from approval. Then in your second year, earn another 30,000 Velocity points when you spend $4,000 within 90 days of your card opened date anniversary. Offer excludes customers who hold or have held Altitude Platinum or Altitude Black card with Altitude Rewards, Qantas or Velocity in the last 24 months.
Points Per $1 Spend: 0.75 Velocity points on international spend. 0.5 Velocity points on everyday purchases and 0.35 Velocity points on all other purchases, then after you reach $5,000 spend you'll earn 0.2 Velocity points per $1 spent in each statement period.
Point Earning Limit: Partially Capped
Redeem Points: 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges. 10,696 Velocity points can get you a $50 gift card.
ANZ Rewards Black
- Bonus Offer 90,000
Velocity Points - Flyer Points Per $ 0.5 - 1
- Annual Fee $375
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$275$100 Signup Bonus$0 Point Earn$375 Annual FeeYear 2: -$375$0 Signup Bonus$0 Point Earn$375 Annual FeeTotal Net Value -$275Total Net Value -$375
ANZ Rewards Black
- Top 5 Everyday Rewards
- $100 Cashback
- CashbackCashbackFrequent Flyer PointsFrequent Flyer PointsTravel InsuranceDomestic & International Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceMobile PayApple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Purchase Interest Rate: 20.99% p.a.
Minimum Credit Limit: $15,000
Annual Fee: $375
Additional Cardholders: Up to 9 additional cardholders for a $65 annual fee per card
Interest Free Days: 55 days
Minimum Repayment: Greater of $25 or 2% of the closing balance
Cash Advance Rate: 21.99% p.a.
Late Payment Fee: $20
Purchase Protection: Yes
Concierge Service: Yes
Mobile Pay: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Travel Insurance: Domestic & International Travel Insurance
Bonus Points Offer: 180,000 ANZ Reward Points . 110,000 Reward points when you spend a minimum of $5,000 on eligible purchases in first 3 months from approval. Then another 50,000 Reward points when you keep your card open for over 15 months. Offer is only available to new ANZ Rewards cardholders or those who haven’t held an ANZ Rewards card within the last 12 months.
Points Per $1 Spend: 2 ANZ Reward points on eligible purchases up to $5,000 and then 1 ANZ Reward point after in each statement period.
Point Earning Limit: Uncapped
Flyer Points Conversion Rate: 1 ANZ Rewards point = 0.5 Velocity points.
Cashback Offer: $100 when you spend a minimum of $5,000 on eligible purchases in first 3 months from approval.
Redeem Points: 11,115 Reward points gets you a $50 gift card or 12,500 points for $50 cashback. 5,900 Velocity points can fly you from Sydney to Gold Coast (one way) plus taxes, fees and carrier charges.
MyCard Rewards
- Bonus Offer 90,000
Velocity Points - Flyer Points Per $ 0.5
- Annual Fee $199
- Net Rewards $-
Breakdown of Yearly Net Value
Year 1: -$199$0 Signup Bonus$0 Point Earn$199 Annual FeeYear 2: -$199$0 Signup Bonus$0 Point Earn$199 Annual FeeTotal Net Value -$199Total Net Value -$199
MyCard Rewards
- Top 3 Purchase Rate Offers
- CashbackCashbackFrequent Flyer PointsFrequent Flyer PointsTravel InsuranceDomestic & International Travel InsuranceShopping ProtectionPurchase ProtectionConcierge ServiceConcierge ServiceSmartphone Screen InsuranceSmartphone Screen InsuranceHotelLuxury Escapes up to 15% Discounts ($250 per booking) off Hotels Overseas and up to 10% off on Hotels within Australia or Overseas tours (up to $250 per booking). 10% off selected hotels on Expedia or Wotif.Mobile PayApple Pay, Samsung Pay, Citi Pay
Purchase Interest Rate: 22.49% p.a.
Minimum Credit Limit: $2,000
Annual Fee: $199
Maximum Credit Limit: $100,000
Interest Free Days: 55 days
Additional Cardholders: Up to 4 additional cardholders for a $90 annual fee per card
Cash Advance Rate: 22.99% p.a.
Minimum Repayment: Greater of $25 or 2% of the closing balance
Late Payment Fee: $30
Purchase Protection: Yes
Concierge Service: Yes
Smartphone Screen Insurance: Yes
Travel Insurance: Domestic & International Travel Insurance
Mobile Pay: Apple Pay, Samsung Pay, Citi Pay
Hotel: Luxury Escapes up to 15% Discounts ($250 per booking) off Hotels Overseas and up to 10% off on Hotels within Australia or Overseas tours (up to $250 per booking). 10% off selected hotels on Expedia or Wotif.
Bonus Points Offer: 100,000 MyCard Reward Points when you spend $5,000 on eligible purchases within the first 90 days from approval. Offer is not available when closing or transferring from another MyCard card or in conjunction with any other MyCard offer.
Points Per $1 Spend: 1 MyCard Reward point on eligible domestic spend up to $10,000 per statement period. 1 MyCard Reward point on all eligible international spend.
Point Earning Limit: Partially Capped
Flyer Points Conversion Rate: 1 MyCard Reward point = 0.5 Velocity points.
Redeem Points: 10,500 MyCard reward points can get you a $50 gift card or 20,000 points for $50 cashback.
Velocity Rewards Frequent Flyer Credit Cards Guide
How We Rank the Velocity Points Cards
At Kredmo, we use a data-driven Value Methodology to rank every card on this page:
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Sign-Up Bonus Impact: We analyze the true value of 100k+ bonus Velocity points or cash-back offers after meeting minimum spend. -
Points Weighted Earn Rate: We calculate the "dollar per Velocity points" value from from actual aveage Australian household spending splits (e.g., 35% Groceries, 15% Fuel, 20% Utilities) to show to best estimate what you could earn. -
Capped and Uncapped Points: We calculate the earn rate caps or "Tiered Earn Rates" for cards with both spending amount maximums and point earning maximums. -
Redeem Points Dollar Value: We calculate the dollar value from earned rewards points for reach rewards program for each redeem category cash back, gifts cards, domestic and international flights. -
Cost Efficiency: We factor in the cost of the annual fee so to evaluate whether your rewards earned outweigh the annual fee or not to reveal the Year 1 Net Profit. Ensuring your rewards are an asset, not an expense.
How Kredmo Calculates Your Net Rewards $ Value
At Kredmo, we believe transparency is the key to choosing the right credit card. Our Net Rewards $ Value is a data-driven estimate of the net Rewards financial benefit you could receive during your first year of card membership.
We use a specific three-step formula to convert complex bonus points or cashback offers into a clear dollar figure:
1Sign-Up Bonus Valuation: We convert the headline bonus points (e.g., 100,000 points) into a dollar value based on a conservative redemption average of 0.5 to 1.0 cents per point. This represents the standard "floor value" for redemptions like digital gift cards and cashback in the Australian market.- 2Annual Spend Projections: We calculate the points earned from your projected annual spending based on the card's specific earn rate (e.g., 1.25 points per $1 spent). We then convert
these points into their equivalent dollar value to show what your "monthly" spending is actually worth. - 3The 'Net Value' Deduction: To find the final figure, we subtract the first-year annual fee from the total sum of points and cash back expected to be earned. The resulting Rewards $ Value shown in our table represents your true "New Rewards $ Value"—in terms of Reward points and cash back of the value you receive after the card has paid for itself.Note: Our calculations assume you pay your statement balance in full each month. Because rewards credit cards carry high interest rates (often 20% p.a. or more), interest charges are not factored into this value as they would quickly negate the benefits earned.
Got Questions?
We've Got Answers
Velocity Rewards are the loyalty points of the Velocity Frequent Flyer program. By making purchases using a Velocity Rewards credit card you can earn points and redeemed flights, accommodation, gift cards and more.
You can earn Velocity reward points on eligible purchases made with a Velocity Rewards credit card. These points can be accumulated and redeemed for a variety of rewards.
Velocity rewards points can be redeemed for flights, flight upgrades, hotel stays, car rentals, shopping, and other products and services offered through the Velocity Frequent Flyer program.
Velocity Points do not expire as long as you continue earning or using the points at least once every 24 months. If there is no activity in your account for 24 months, your points may expire.
Yes, there are various types of Velocity Rewards credit cards offered by different credit card providers such as the traditioanl financial institutions and Virgin Money. They may come with different features, benefits, annual fees, and earn rates for Velocity Points.
In addition to earning Velocity Rewards Points, these cards frequently include perks such as complimentary travel insurance, lounge access, discounts on Virgin Australia flights, and other perks. The benefits vary depending on the card and the issuer.
Yes, the majority of Velocity Rewards credit cards charge an annual fee. The amount varies depending on the card and the financial institution that provides it.
Most Velocity Rewards credit cards do not have a minimum income requirement. However, this requirement can differ depending on the card and the issuer.
No, not always. Some transactions, such as cash advances, balance transfers, and certain government charges, may not be eligible for Velocity Points. It is critical to review the terms and conditions of the card are applying for or have.
In general, Velocity Rewards Points cannot be transferred to other loyalty programs. However, there may be occasions when promotions or partnerships permit point transfers.
Trust!Why Trust
Why Trust
Kredmo?
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80+ Cards Compared: We track over 20+ Australian providers to give you a full market view, not a filtered one. -
User-First Logic: Our rankings are built on data-driven “Value Methodology,” not whether we have a partnership with provider or not. -
Total Independence: We show you the best credit cards currently available in the Australian market and give you the tools to make the best decision for your unique financial journey. -
Licensed: We operate under ACL 518788.