Frequent flyers have singled out the American Express Velocity Platinum Card as the most rewarding co-brand card for high-spending flyers.
Credit Card Finder reviewed ten different cards to determine which travel card reaped the most benefits, and the American Express card proved to be the most rewarding.
Credit Card Finder’s Jeremy Cabral said the results showed that most people know credit cards exist to help them escape on their next holiday sooner, but many remain in the dark about added benefits.
“Of all people who have travel cards, only a quarter understand fully how they work and what features and benefits they offer,” Cabral said.
Co-brand travel cards usually come with extra benefits such as travel insurance, airport lounge access and complimentary flights, according to Cabral. Whenever the card is used, rewards points are automatically swept into the airline loyalty program of the card. Points can then be redeemed for flights and other travel expenses like accommodation and car hire.
When choosing a co-brand card, it is important travellers consider how many rewards points their spending will get them as well as which destinations they can fly to when they’ve accrued enough points for a ticket. Each card also has a different annual fee, which should be weighed against its features and benefits.
The American Express Velocity Platinum Card with its annual fee of $349 per annum was found to be the best deal. A domestic traveller who spends $2,000 a month on the card each year will receive $834 worth of value from the card, while an international traveller receives $1,319.
The benefits of the American Express card include: unlimited buy-one-get-one-free full-priced international business class airfares, a complimentary domestic economy return flight each year, two entries to the Virgin Australia lounge each year, domestic and international travel insurance and refund protection.