The American Express Velocity Escape Credit Card is a basic and budget-friendly rewards card that is tied to the Virgin Australia frequent flyer program, Velocity. Cardholders earn Velocity points for every dollar spent on the Amex Velocity Escape card, which can be redeemed for travel bookings and other purchases via Virgin Australia.
As the perks are related to Virgin Velocity, it may be redundant to take out an Amex Velocity Escape card unless you are a frequent flyer with Virgin Australia or intend to become one.
While there are travel benefits to taking out the card perhaps its strongest selling point is its zero annual fee, which makes it attractive for budget flyers who still want to earn points.
However, AMEX has closed new applications for the card, and has replaced it with the Virgin Velocity Escape Plus, which is similar to its predecessor, but with one big difference: there is now an annual fee of $95.
For existing cardholders, let’s take a closer look at the features of the card, so you can determine if it’s still right for you or whether you’re best to upgrade to Plus.
Related: Our Pick of the Best Frequent Flyer Credit Cards
Pros
- No annual fee
- Earn Velocity points for every transaction
- Four additional cardholders at no extra cost
Cons
- High interest rate
- 3% international transaction fee
- Not accepting new applications.
Table of Contents
About American Express Credit Cards
American Express is, as the name suggests, an American financial services company headquartered in New York City. American Express specialises in credit cards, which are commonly referred to as Amex.
The company was founded in 1850, where it began as an express mail dispatcher and grew to become one of the most valuable companies in the world. The first American Express Australia card was first issued in 1974.
As of 2025, American Express offers 11 personal Amex cards in the Australian market. These are:
- American Express Platinum Edge Credit Card
- American Express Platinum Card
- American Express Explorer Card
- Qantas American Express Premium Card
- American Express Essential Rewards Credit Card
- Qantas American Express Ultimate Card
- Qantas American Express Discovery Card
- American Express Velocity Escape Card (not open to new applicants).
- American Express Velocity Escape Plus Card.
- American Express Velocity Platinum Card
- Low Rate Credit Card
American Express Velocity Escape Interest Rates
The interest rate charged on purchases with the Amex Velocity Escape card is 21.99%. This is also known as the purchase rate and is standard for this type of card.
There is a generous interest-free period, however, of 55 days. This means if you make a purchase and pay it off within the 55-day period, you will not be charged the purchase rate.
Cash advances are not possible with the Escape card.
Fees and Limits
It’s important to understand the fees and limits of a credit card before committing, so you can stay on top of your repayments. The fees of the Amex Velocity Escape card are explained below.
Is There an Annual Fee?
The American Express Velocity Escape card boasts a $0 per annum annual fee, meaning you don’t have to pay anything to rack up points.
Additional Fees
While some credit card lenders charge for additional cardholders, with the Amex Velocity Escape you can add up to four additional cardholders at no extra cost.
There is, however, a $30 late payment fee; a $6 payment dishonour fee (if a direct debit does not go through); a $3 over-the-counter fee, which may be charged by some merchants; and a $7 record-for-charge fee.
If you choose to use your American Express Velocity Escape card overseas, you will also be subject to a 3% international transaction fee which will be calculated from the converted rate.
Credit Limits of the Amex Velocity Escape card
The minimum credit limit is $2000, while the maximum credit limit for Velocity Escape card holders is $25,000.
Are Balance Transfers Offered?
Some credit card providers offer balance transfers, in which you move the amount you owe on one card (which could be from a different institution) to another, however, this feature is not available for Amex Velocity Escape cardholders.
Amex Velocity Escape Extras and Offers
There is no doubt that travel perks are a drawcard for many cardholders. While Amex Velocity Escape cardholders won’t receive cash-back promotions or complimentary insurance, you can earn frequent flyer points for every dollar spent.
Is Amex Velocity Escape a Rewards Card?
Yes, due to the points-earning system, Amex Velocity Escape is considered a rewards card.
Rather than earning points to be redeemed for monetary value, card holders earn Virgin Velocity Frequent Flyer points to put towards upcoming travel or redeem for gift vouchers.
Velocity Escape cardholders earn 0.75 velocity points per dollar if shopping with a non-government body, and 0.50 velocity points when shopping with a government body.
If using the card to shop with the Virgin Australia online store–whether to buy flights or wine–Velocity Escape cardholders will earn 1.75 Velocity points for every dollar spent.
While some rewards cards cap how many points you can accrue, there is an uncapped earning potential with the Velocity Escape card.
However, the Amex Velocity Escape does not offer complimentary flights or lounge access, which are more common on the premium rewards cards.
Is it Right for You?
There is no doubt that Amex Velocity Escape card is best suited for Virgin Velocity members on a budget, allowing customers to earn Velocity points but without an annual fee. Often, rewards cards levy a high annual fees in exchange for their perks, but as this is a budget card with fewer perks, there is no annual payment. However, since AMEX stopped accepting applications for the Escape card and replaced it with Escape Plus, many frequent flyers are wondering whether they should do the same thing. Is it worth upgrading to Escape Plus, and paying $95 per year for a few more bells and whistles?
Let’s look at the features of each.
With the Escape card you receive:
- No annual fee.
- Earn 0.75 velocity points per dollar.
- Four additional cardholders at no extra cost.
- Interest rate of 21.99%.
- No bonus points or other perks.
With the Escape Plus card you receive:
- $95 annual fee.
- Earn 1 Velocity point per dollar (After 12,000 points per year, rate is 0.75 Velocity Points per $1 spent).
- Four additional cardholders at no extra cost.
- Interest rate of 23.99%.
- 30,000 bonus points on sign-up (pending certain criteria).
- $50 Virgin Australia statement credit.
- Complimentary travel insurance.
It’s worth asking yourself how important the travel perks are to you. If you spend a fortune on travel insurance each year, then the $95 fee of the Escape Plus card will be worth it. Or you may decide to stick with the Escape card until expiry, enjoying the fact that you’re part of a dwindling cohort of Velocity credit cardholders accruing points with no annual fee.
Note: It is critical to fully understand the terms and conditions of a credit card agreement before applying. Though we recommend no one ever carry a balance if it can be avoided, it’s particularly important with rewards credit cards as interest rates are generally higher. Any interest charges on a balance will quickly wipe out the value of any rewards earned.
Frequently Asked Questions (FAQs)
What happened to the American Express Velocity Escape credit card?
The no-fee AMEX Velocity Escape Credit Card has been discontinued for new applicants and replaced with the Velocity Escape Plus card. It offers more perks, but unlike its predecessor, it isn’t free: there is an annual fee of $95.
Which Amex card is the best?
American Express cards are popular with Australians, especially frequent flyers. Each card varies in its benefits, fees, interest rates and credit limits, meaning there’s no one-size-fits-all when it comes to the best choice.
Instead, consumers should consider the perks they are looking for and the annual fee they’re willing to pay. Also consider the interest rates, points-to-earn ratios, bonus points for sign-up and interest-free periods.
What are the fees for the American Express Velocity Escape card?
While there is no annual fee with the American Express Velocity Escape card, there are other fees that cardholders should be aware of. These are:
- A $30 late payment fee (if you miss the due date for payment);
- A $6 payment dishonour fee (if a scheduled debit does not go through);
- A$3 over the counter fee (a possible merchant charge); and
- A $7 record for charge (a document submitted as evidence of credit transactions).
Can the Amex Velocity Escape be used internationally?
Yes, the Amex Velocity Escape card can be used internationally, anywhere that American Express is accepted. There is a 3% international transaction fee, which is placed on top of the converted amount.
What is the best way to use Virgin Velocity points in Australia?
There is a range of ways to spend your Virgin Velocity points—from flight rewards seats, hotel bookings or even gift cards. You can read more in our guide to what Velocity points are worth.
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