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The American Express Velocity Escape Credit Card combines a very rare combination of features - a rewards program and a $0 annual fee and low minimum income requirement of $40,000 p.a. (Which also applies to non-residents)
Introductory Offer: 0% p.a. on Balance Transfers for 12 months
Offer Conditions: This offer is available to new Card Members, as well as Bank-issued American Express companion cardholders. A one-off credit plan establishment fee of 1% applies to any balances transferred
Key features of The American Express Velocity Escape Credit Card
American Express World-class Service
The American Express Velocity Escape Credit Card is packaged with a generous range of services:
Provider | American Express |
Prestige Level | Standard |
Credit Card Type | American Express |
Instant Approval | Yes in 60 seconds |
Purchase Rate | 20.74% |
Cash Advance Rate | - |
Interest Charged From | Statement date |
Interest Free Period | Up to 55 days |
Balance Transfer Rate | 0% |
Balance Transfer Period | 12 months |
Balance Transfer Fee | 1% |
Balance Transfer Processing Time | 10 - 14 days |
Max. Balance Transfer | $10,000 or 70% of credit limit |
Revert rate | 20.74% p.a. |
Intro Offer | 0% p.a. on Balance Transfers for 12 months, an establishment fee of 1% applies |
Offer end date | - |
Rewards Program | Velocity Rewards |
Rewards Points | No points cap on the amount of Velocity Points you can earn. Automatic Points Transfer - Each month any points earned will be automatically transferred to your linked Velocity Frequent Flyer Account. Earn 1 Velocity Point per $1 spent, except government bodies in Australia where you will earn 0.5 Velocity Points per $1 spent. |
Age to Apply | 18 |
Min. Income | $40,000 |
Residency | Australia |
Temporary residents | Yes with 457 Visa |
Min. Credit Limit | $2,000 |
Joint applicants | No |
Min. Monthly Repayment | $30 |
Annual Fee | $0 |
Over Limit Fee | - |
Duplicate Statement fee | $10 |
Late Payment Fee | $30 |
Min. Monthly Repayment % | 2.50% |
Max. Credit Limit | $25000 |
Cash advance fee | - |
Additional card holder fee | $0 |
Foreign currency conversion fee | 3% of transaction value |
Overseas atm withdrawal fee | $2.50 |
Complimentary travel insurance | No |
Answer yes to these 4 questions and you are eligible to apply:
To apply on line and get a response in 60 Seconds for the American Express Velocity Escape credit card you’ll need the following information to hand:
Terms and Conditions: Read the Terms and Conditions for the American Express Velocity Escape Credit Card
Complimentary Insurances
Purchase Protection
Purchase protection covers eligible items you have purchased with your American Express Velocity Escape Credit Card. If they're stolen or damaged within 90 days of the purchase date, they'll either be repaired or refunded.
Refund Protection
If you try to return an unused eligible item that you purchased with your American Express Velocity Escape Credit Card within 90 days of the date of purchase on your Card and the establishment refuses to take it back, we'll refund the purchase price.
Online fraud protection guarantee
Shop online with confidence, because with our Online Fraud Protection Guarantee, you won't be held responsible for any unauthorised charges made without your knowledge while shopping on the internet.
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What happens when I click "Go to site"?
Clicking Go to site will direct you to the providers web site
Complete the online application on the providers web site
Once approved the provider will issue your new product, delivery times will vary by provider.