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American Express - The American Express Velocity Escape Card

The Velocity Escape credit card has an annual fee of $0 and up to 55 days interest-free on purchases. Up to 4 additional cardholders can be added for $0. Velocity Points are earned on this card at a rate of 1.75 points per dollar spent on eligible Virgin products, uncapped. Receive 0.75 points for every dollar spent anywhere else, except purchases with government bodies, where 0.5 points are earned.

This card has an purchase rate of 23.99% p.a.

Compare Credit CardsProduct Image For American Express - The American Express Velocity Escape Card
An annual fee of $0 and earns Velocity Points through purchases.
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Annual Fee

$0 per year

Purchase Rate

23.99% p.a.

Rewards Rate One

1.75 point(s) per AUD$1 On spent on eligible purchases with Virgin Australia

Rewards Rate Two

0.75 point(s) per AUD$1 On spent on card purchases, except spend at government bodies in Australia
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Details

Card Type
American Express
Minimum Repayment
2.50% or $30
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$2,000

Fees

Annual Fee
$0
per year
Late Payment Fee
$30
per statement
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 4
additional holders

Rates

Purchase Rate
23.99% p.a.

Overseas Spending

Foreign Currency Conversion Fee
3%
per transaction

Eligibility

Minimum Age
18
years old
Temporary Residents
Yes

Rewards

Program
Velocity Frequent Flyer
Types
Domestic flights, International flights, Accommodation, Car hire, Gift Card

Reward Rates

Rewards Rate One
1.75 point(s) per AUD$1
On spent on eligible purchases with Virgin Australia
Rewards Rate Two
0.75 point(s) per AUD$1
On spent on card purchases, except spend at government bodies in Australia

Perks

Complimentary Travel Insurance
No
Airport Lounge Access
No

Who is the product designed for?

The Target Market for this credit card are consumers who:

  • want to make purchases on credit with the ability to earn reward Velocity points
  • earn a sufficient income to enable them to pay their outgoings and living expenses, in addition to their card repayments each month without experiencing financial hardship
  • are willing and able to pay an interest rate of 23.99% p.a.
Visit American Express to view Target Market Determination Effective From: 2023-10-20.

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