Amex spend required to choose Premium Velocity over Standard Velocity

[tomrolley]

Looking for some advice on how much I would have to spend on Amex over a year to justify paying the $85 premium and receiving the extra 0.5 of a point on the Amex.

This is for a comparison between the two NAB velocity cards (personal).

Many thanks!

 

[Demonoid]

Looking for some advice on how much I would have to spend on Amex over a year to justify paying the $85 premium and receiving the extra 0.5 of a point on the Amex.

This is for a comparison between the two NAB velocity cards (personal).

Many thanks!

Well the premium gives you complimentary travel insurance so if you travel overseas once a year, it automatically justifies the $85 premium.

For points, I value them (and qantas) at 1 cent a point.
So lets say you spend a modest $2000 a month (or AMEX spend on the card). With the premium, you get 3000 points (vs 2000 points on the normal card). So that 1000 extra points a month I value at $10 (1 cent a point).
Over the year, thats $120 worth of value that makes up for the $85 annual fee difference. Obviously, the more over 2k you spend on the amex, the more value it is.

Personally, I am hanging out for NAB to thow in some bonus sign on points before I apply. (They just finished a big 1% for 12 month balance transfer campaign across all their credit cards)

Also, If you have a NAB home loan - its free if you are on the choice package so you definitely go the premium.

It you are welded to Velocity points like I am, go the premium and team it up with Virgin Flyer Card ($129) where you get a dollar a point (this is a visa card don't forget) and 4 buy 1 get one free flights a year. Check out the thread on that card on various boards on the AFF site.