As a Velocity Gold who flights mostly Virgin (Australia domestic, codeshare partners overseas), I am deciding to give this card (and the free Reserve credit card) the flick. I will admit, I initially got it for the bonus points and all the travel extras, however, I have come to the following conclusions:
So all up, while the latest enhancements for $300 extra might be so so value, I will do what I should have done when they last "enhanced" the product, and throw it in the bin. I challenge anyone to line up the benefits against the $1200 price.
- 3-2-1 points earn (restaurants and travel) is OK. But my wife has the Velocity platinum Amex, which gives the same structure plus 3 points for Virgin, and a free return domestic flight.
- I will also ditch the free Reserve Credit card and pick up the Edge. gives a different 3-2-1 structure (fuel and supermarket) and has a free flight. Much better value for me then the Reserve.
- My 1.5 Velocity points to dollar NAB Platinum Alex is fee free (I have a loan with NAB) and gives the best general AMEX spend reward rate out there. I only need to spend $500 of my overseas travel to get free travel insurance
- Speaking of which, the re-introduction of free travel insurance when using points on the Plat Charge is nice, but they are only bringing back what they "enhanced" last year anyway. I will use NAB Amex to get my free travel insurance and all other platinum insurances.
- All the gold hotel upgrade cards (e.g. SPG gold, IHG gold etc) are nice...but I have never used them once. In any case, they will drop down to silver etc with each passing year eliminating their value. As a Virgin Gold, I have used the Hilton honours one to great affect.
- Ditto Marco Polo card. Have used it for lounge access a couple of times - but don't fly One world enough to keep Gold so this will revert to next level down and be useless to me.
- I rent a car about once a year, so the rental privileges also hold little value
- Virgin Lounge Access is of no value to me as I am a Virgin Gold member anyway.
- Priority pass was useful - but I have signed up to the Citibank Select Visa card for the bonus points (and best non Amex reward rate both here and overseas), and this card gives me P pass anyway. $700 annual fee is steep but I am only going for the bonus points and will ditch it after a year and revert to the much cheaper Virgin High Flyer Visa with its 4 cheap flights and 1.25 earn per dollar
- New $200 travel credit is a con. Worth about $150 after booking fee is deducted...and can only be used on return international travel only. Hotels or domestic flights are out. Platinum travel are far from the cheapest travel agent out there. I usually spend my points when going overseas anyway.
- Accor free night in hotel is a benefit. Although I have never stayed in one in my life.
- Don't care for Golf, and I can pick my own wine.
So all up, while the latest enhancements for $300 extra might be so so value, I will do what I should have done when they last "enhanced" the product, and throw it in the bin. I challenge anyone to line up the benefits against the $1200 price.
