Best Virgin Australia Velocity credit card sign-up offers

Credit card Velocity Points are back, and you could earn as many as 100,000 bonus Velocity Points from a single card application.

By Chris Chamberlin, October 2 2020
Best Virgin Australia Velocity credit card sign-up offers

With Virgin Australia poised to exit voluntary administration under a new owner, credit card Velocity Points have returned at most major Australian banks and credit card issuers.

From a single credit card application, you could take home up to 100,000 bonus Virgin Australia Velocity Points: building your points on the ground, ready for your next adventure.

We've crunched the numbers to uncover the 15 most rewarding Velocity credit card sign-up offers in Australia this October, including direct-earning Velocity credit cards, as well as 'indirect earning' products, where points are manually converted from a bank loyalty program to Velocity Frequent Flyer.

15 best Virgin Australia Velocity Frequent Flyer credit card sign-up offers

1. St.George Amplify Signature Visa with Amplify Points

Sign-up Bonus: Apply online for the Amplify Signature with Amplify Points card by February 9 2021 and spend $12,000 on eligible purchases each year for the first two years, to unlock up to 200,000 bonus Amplify Points: awarded as 130,000 points in year one, and 70,000 points in year two.

With Amplify Points once again converting to Velocity at a 2:1 rate, that's a reward of up to 100,000 bonus Velocity Points.

Rewards: Earn the equivalent of 0.75 Velocity Points per $1 spent, uncapped: further boosted to 0.825 Velocity Points per dollar spent via St.George's 'birthday bonus', being a 10% bonus counted on all the points earned via the card over the past year (or part-year, for new customers), except on the already generous sign-up bonus.

Annual Fee: Pay a reduced annual fee of $139 in the first year, reverting to $279 thereafter. No additional cardholder fee.

This same bonus points and reduced annual fee offer is also available on the near-identical Bank of Melbourne Amplify Signature Visa with Amplify Points and the BankSA Amplify Signature Visa with Amplify Points credit cards when applying online.

2. Virgin Australia Velocity High Flyer Card

Sign-up Bonus: Apply before November 30 2020 and you could earn 20,000 bonus Velocity Points per month for the first three months, when you spend at least $3,000 per month. That's up to 60,000 bonus Velocity Points.

Rewards: Collect one Velocity point per $1 spent up to $8,000 per month, and 0.5 Velocity Points per $1 spent thereafter: except on government and government-related charges, which don't earn points.

Annual Fee: $289, for which you'll also receive a $129 Virgin Australia flight voucher plus two Virgin Australia lounge passes every year.

3. NAB Rewards Signature Card

Sign-up Bonus: Receive 90,000 bonus NAB Rewards points when you apply and spend $3,000 on everyday purchases within the first 60 days of opening your account, plus 30,000 bonus NAB Rewards points when you keep your card for over 12 months. Converted to Velocity at a 2:1 rate, that's worth up to 60,000 bonus Velocity Points.

Rewards: Earn 3.75 NAB Rewards points (1.875 Velocity Points) per $1 spent on overseas purchases and with Webjet in Australia; 2.5 NAB Rewards points (1.25 Velocity Points) per dollar spent at major department and hardware stores, and 1.25 NAB Rewards point (0.625 Velocity Points) per $1 spent on all other purchases.

Annual Fee: $295, with no additional cardholder fee.

4. Westpac Altitude Black Mastercard

Sign-up Bonus: Eligible new customers can earn 50,000 bonus Velocity Points via Westpac's Altitude Black Mastercard and its Altitude Rewards program.

Simply apply by November 11 2020 and spend $4,000 or more on eligible purchases within 90 days of card approval to receive 150,000 bonus Altitude points. These convert to Velocity at a 3:1 rate, giving you 50,000 Velocity Points.

Rewards: Most eligible purchases generate 1.25 Altitude points per dollar spent (0.416 Velocity Points after a 3:1 conversion), with payments of up to $10,000/month at Qantas, Jetstar, Virgin Australia, Emirates and Singapore Airlines earning at a higher rate of 6 Altitude points (2 Velocity Points) per $1 spent.

Annual Fee: $250, and with no additional cardholder fee.

5. AMEX Velocity Platinum Card

Sign-up Bonus: Apply and spend $3,000 on your new card within the first three months to earn 50,000 bonus Velocity Points, credited directly to your Velocity Frequent Flyer account.

Rewards: Take home 1.25 Velocity Points per $1 spent on most purchases, except at Virgin Australia where you'll earn a higher 2.25 Velocity Points per $1 spent, and at government bodies in Australia where you'll earn a reduced 0.5 Velocity Points per $1 spent.

Annual Fee: $375, with no additional cardholder fees, and a complimentary domestic return flight included every year.

6. Commonwealth Bank Diamond, Ultimate Awards Mastercards

With identical offers across two cards from the same bank, the CBA Diamond Awards Mastercard and the CBA Ultimate Awards Mastercard share this rank.

Sign-up Bonus: Eligible new customers can earn 100,000 bonus CBA Awards points when applying for either card by April 29 2021 and spending $5,000 on eligible purchases within 90 days of card activation. Convert those points to Velocity at a 2:1 rate, and the bounty is worth 50,000 bonus Velocity Points.

Rewards (Diamond Awards): Via the CommBank Awards scheme, earn the equivalent of 0.625 Velocity Points per $1 spent (1.25 CBA Awards points with a 2:1 conversion), up to a maximum of 500,000 Velocity Points (one million CBA Awards points) per calendar year. No points are earned on ATO payments, however.

Rewards (Ultimate Awards): Earn 3 Awards points (1.5 Velocity Points) per $1 spent on international transactions; 2 Awards points (1 Velocity Point) per $1 spent at major supermarkets, department stores and petrol stations; and 1 Award point (0.5 Velocity Points) per $1 spent elsewhere, up to $10,000/month. Above this threshold, all eligible spends earn 0.5 Awards points (0.25 Velocity Points) per $1 spent.

Annual Fee: On the Diamond card, there's a $349 annual fee to pay, plus $10/year for an additional cardholder. The Ultimate card instead has a monthly fee of $35, which is waived if you spend at least $2,500 in your statement period and receive statements electronically, with no fee for an additional cardholder.

7. Citi Prestige Mastercard

Sign-up Bonus: Apply by November 30 2020 and spend $7,500 on the Mastercard within 60 days of approval to unlock 100,000 Citibank Rewards points. Convert those to Velocity at a 2:1 rate, to receive 50,000 Velocity Points.

Rewards: On eligible Mastercard purchases, 3 Citi Points (1.5 Velocity Points) can be earned per $1 spent overseas, and in Australia with major airlines, hotel chains and restaurants. At major Australian supermarkets, petrol outlets and national retailers, earn 2 Citi Points (1 Velocity Point) per dollar spent, and on all other eligible transactions in Australia, earn 1 Citi Point (0.5 Velocity Points) per dollar spent.

An optional Linked Diners Club Card instead provides a flat 2 Citi Points (1 Velocity Point) per dollar spent on eligible purchases at home and abroad, although neither card provides points on government and government-related charges.

Annual Fee: $700, with no added fee for the optional Linked Diners Club Card.

8. Virgin Australia Velocity Flyer Card

Sign-up Bonus: Apply by November 30 2020 and spend at least $1,500 per statement period for the first two months. This provides 20,000 bonus Velocity Points per month, up to 40,000 bonus Velocity Points overall.

Rewards: 0.66 Velocity Points per $1 spent up to $1,500 per month and 0.5 Velocity Points thereafter, except on government and government-related payments which don't award points.

Annual Fee: $64 in the first year, $129 thereafter.

9. AMEX Platinum Charge Card

Sign-up Bonus: Take home 80,000 bonus Membership Rewards Ascent Premium points as an eligible new customer – worth 40,000 Velocity Points after a 2:1 conversion – when applying for the AMEX Platinum Charge Card and spending at least $3,000 on purchases in the first three months.

Rewards: Most purchases accrue 2.25 Membership Rewards points per dollar spent (1.125 Velocity Points after conversion). However, government payments earn at a reduced rate of one Membership Rewards point per dollar spent (0.5 Velocity Points).

Annual Fee: $1,450, although the points you can earn are uncapped and can be converted to your preferred frequent flyer program as desired.

10. Commonwealth Bank Platinum Awards Mastercard

Sign-up Bonus: Scoop up 80,000 bonus CBA Awards points – that's 40,000 Velocity Points, following a 2:1 conversion – when you apply by April 29 2021 as an eligible new customer and spend $4,000 on eligible purchases within 90 days of card activation. 

Rewards: Via the CommBank Awards program, you'll receive the equivalent of 0.5 Velocity Points per $1 spent (1 CBA Awards points per $1, with a 2:1 conversion), up to a maximum of 75,000 Velocity Points (150,000 CBA Awards points) per calendar year. No points are earned on ATO payments, however.

Annual Fee: There's a $249 annual fee, as well as a $10/year charge to add an additional cardholder.

11. Citi Premier Mastercard

Sign-up Bonus: New customers who apply by November 30 2020 and spend $5,000 in the first 60 days from approval on the Citi Premier Mastercard can receive 70,000 bonus Citibank Rewards points, worth 35,000 Velocity Points following a 2:1 conversion.

Rewards: On eligible Mastercard spend, earn 2 Citi Points (1 Velocity Point) per $1 charged overseas, and in Australia at major airlines, hotel chains and restaurants. Spend at at major Australian supermarkets, petrol outlets and national retailers delivers 1.5 Citi Points (0.75 Velocity Points) per dollar, and on all other eligible transactions within Australia, earn 1 Citi Point (0.5 Velocity Points) per dollar spent.

The optional Linked Diners Club Card generates a flat 2 Citi Points (1 Velocity Point) per dollar spent on eligible purchases at home and abroad. As with Citi's other cards, points aren't earned on government and government-related transactions.

Annual Fee: $395, whether or not the Linked Diners Club Card is requested, with no extra charge for additional cardholders.

Note, a similar sign-up bonus can also be had via the Citi Rewards Mastercard, which offers 75,000 bonus Flybuys points (and get a $100 Kmart eGift card) when you spend $3,000 on the Mastercard within 90 days of approval. As Flybuys points convert into Velocity at a 1:0.435 rate, that puts the bonus at 32,625 Velocity Points.

12. NAB Rewards Platinum Card

Sign-up Bonus: Earn an easy 60,000 bonus NAB Rewards points when you apply and spend $1,000 on everyday purchases within the first 60 days of opening your NAB Rewards Platinum Card account. Converted to Velocity at a 2:1 rate, that's worth 30,000 Velocity Points.

Rewards: Earn 3 NAB Rewards points (1.5 Velocity Points) per $1 spent on overseas purchases and with Webjet in Australia; 2 NAB Rewards points (1 Velocity point) per dollar spent at major department and hardware stores, and 1 NAB Rewards point (0.5 Velocity Points) per $1 spent on all other purchases.

Annual Fee: $195, with no additional cardholder fee.

13. Westpac Altitude Platinum Mastercard

Sign-up Bonus: Apply by November 11 2020, select Altitude Rewards as your loyalty option and spend $3,000 on eligible purchases within 90 days of card approval to earn 80,000 bonus Altitude Points: equal to 26,666 Velocity Points following a 3:1 conversion.

Rewards: Earn 1 Altitude Point (0.33 Velocity Points) per $1 spent on most everyday purchases, uncapped. Overseas, and at Spotify Premium, Uber, Uber Eats and Airbnb in Australia, earn 2 Altitude Points (0.66 Velocity Points) per A$1, also uncapped. On spends up to $10,000/month with Qantas, Jetstar and Virgin Australia, earn 3 Altitude Points (1 Velocity Point) per $1 spent.

Annual Fee: Pay only $99 in the first year and $150 thereafter, with no additional cardholder fee.

14. AMEX Explorer Credit Card

Sign-up Bonus: Earn 50,000 bonus AMEX Membership Rewards points with your new AMEX Explorer credit card, when you apply and spend $3,000 on the card within the first three months. As with the AMEX Platinum Charge Card, points earned on this card can be converted to Velocity at a 2:1 rate, making that bonus worth 25,000 Velocity Points.

Rewards: Earn 2 Membership Rewards points (1 Velocity Point) per $1 spent on most eligible purchases, except at government bodies in Australia, where you'll earn a reduced 1 Membership Rewards point (0.5 Velocity Points) per dollar spent.

Annual Fee: $395, with no fees for up to four additional cardholders.

15. Suncorp Clear Options Platinum Visa

Sign-up Bonus: Receive 50,000 bonus Suncorp Rewards points when you spend $3,000 on eligible transactions in the first 90 days from approval. When converted from Suncorp Rewards to Velocity at a 2:1 rate, that's a bounty of 25,000 Velocity Points.

Rewards: Collect 1.25 Suncorp Rewards points per $1 spent on eligible transactions – equal to 0.625 Velocity Points per $1 spent after conversion.

Annual Fee: $129

Ranking Order & Updates

Ranking Criteria

This page offers a list of the most rewarding Virgin Australia Velocity Frequent Flyer credit card sign-up offers in Australia, as available at the time of publishing, across both direct-earning Velocity cards, and indirect-earning cards, where spenders first earn points in a bank's own loyalty program and can then convert them into Velocity Points at a later date.

This list includes personal credit cards and general, public sign-up offers, but does not include business or corporate credit cards, or deals that are private, restricted or targeted, with the exception of any offers targeted to Executive Traveller readers, which may offer more points or reduced fees compared to a bank's standard public offering.

Credit cards listed above as part of this 'top 15' appear in descending order based on the total number of Velocity Points offered via the card's sign-up bonus.

Where more than one card is offering the same number of bonus points, other factors such as annual fees, minimum spend requirements, points earning rates for ongoing purchases and sign-up incentives such as statement credits are considered in determining rank.

Ranking Updates

Our October 2020 'top 15' rundown marks the first Velocity credit card rankings we've compiled since April 2020, when Virgin Australia entered voluntary administration, Velocity blocked members from spending their points, and most credit card providers paused points transfers to Velocity.

More recently, with certainty around the future of Virgin Australia, most credit card issuers have restored those points conversions to Velocity, with American Express and Virgin Money also returning their direct-earning Velocity credit cards to the market, after previously closing them to new applicants.

ANZ and HSBC continued to pause points transfers to Velocity, at the time of writing.

As these updates are compiled monthly, Executive Traveller will review whether ANZ and HSBC have resumed such Velocity Points transfers in November, and will consider these cards for ranking at that time, based on the availability of those conversions and each bank's various sign-up offers.

What are Virgin Australia Velocity credit cards and how do they work?

As the name suggests, credit cards affiliated with Virgin Australia's Velocity Frequent Flyer scheme allow cardholders to earn Velocity Points from their everyday credit card expenses.

Some cards will automatically credit these points to a customer's Velocity Frequent Flyer account every month, while other cards will first provide points in the bank's own loyalty program, which the cardholder can later convert into Virgin Australia Velocity Points at a pre-set conversion rate.

Virgin Australia Velocity Frequent Flyer credit card FAQs

Can you combine frequent flyer miles and points?

In Virgin Australia's Velocity Frequent Flyer scheme, yes, eligible family members can transfer Velocity Points between their accounts at no charge. This can be useful in a household where both members of a couple are earning Velocity Points, as these can be combined in order to book a flight.

Can you link Velocity Frequent Flyer accounts?

Velocity offers a 'family pooling' feature where eligible members of the same household can opt to pool all the Velocity Points they earn (and optionally, status credits too) into one person's nominated account. This is separate to manual family points transfers, which are also available.

Can I earn miles or points if I buy a ticket for someone else?

Yes. While the traveller may earn their own miles or points from the flight itself (depending on the airline and airfare), purchasing a flight is just like any other transaction, with the credit cards above offering a certain number of Velocity Points per dollar spent on purchases, including airfares.

Can I use Velocity Points to buy a ticket for someone else?

Yes, and unlike Qantas Frequent Flyer, Velocity Frequent Flyer members can use their hard-earned points to book flights and upgrades for anybody, including not only family members, but also friends, colleagues, clients and more.

15 best Virgin Australia Velocity Frequent Flyer credit card sign-up offers

Credit card

Bonus Velocity Points

Velocity Points per $1 spent *

Annual fee

Other benefits

St.George Amplify Signature with Amplify Points

Up to 100,000

0.825 (incl. B'day Bonus)

$139 (1st year), then $279

Priority Pass account with two yearly lounge visits

Virgin Australia Velocity High Flyer Card

Up to 60,000

1 (0.5 above $8,000
/month)

$289

Yearly $129 VA flight voucher + Virgin lounge passes

NAB Rewards Signature Card

Up to 60,000

0.625

$295

Earn triple points on overseas transactions

Westpac Altitude Black Mastercard

50,000

0.416

$250

Bonus points with eligible airlines

AMEX Velocity Platinum Card

50,000

1.25

$375

Complimentary return flight every year

CBA Diamond & Ultimate Awards

50,000

0.625 (Di)
0.5 (Ult <$10k /mth)
0.25 (Ult >$10k /mth)

$349 (Di)
$35 /mo (Ult, waived on >$2.5k spend)

Pay no overseas transaction fees on the Ultimate Awards card

Citi Prestige Mastercard

50,000

0.5

$700

Request a Linked Diners Club Card to maximise points

Virgin Australia Velocity Flyer Card

Up to 40,000

0.66
(0.5 above $1,500)

$64 (1st year), then $129

Offset the annual fee with a $129 VA flight voucher every year

AMEX Platinum Charge Card

40,000

1.125

$1,450

Unlimited lounge access, hotel status boosts

CBA Platinum Awards

40,000

0.5

$249

Ability to convert points to other programs as well

Citi Premier Mastercard

35,000

0.5

$395

Linked Diners Club Card available with no forex fees

NAB Rewards Platinum Card

30,000

0.5

$195

Earn triple points on overseas purchases

Westpac Altitude Platinum Mastercard

26,666

0.33

$99 (1st year), then $150

Bonus points with Uber, Airbnb and more

AMEX Explorer Credit Card

25,000

1.0

$395

A $400 annual travel credit offsets the annual fee

Suncorp Clear Options Platinum Visa

25,000

0.625

$129

Points also convert direct to KrisFlyer, Skywards

* Velocity Points earned per $1 spent is based on everyday eligible purchases on transactions within Australia. For cards that earn Velocity Points via a bank loyalty program ('indirect earn' cards), this figure considers the card's earning rate on spend and its conversion rate to Velocity, to display the equivalent number of Velocity Points earned per $1 spent. Some spending categories may also earn more, fewer or no points on each card than the standard earn rate indicated above, such as government transactions, overseas purchases, spend directly with Virgin Australia, etc.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller, and lives by the motto that a journey of a thousand miles begins not just with a single step, but also a strong latte, a theatre ticket, and later in the day, a good gin and tonic.