Status Credits help you reach higher Velocity membership tiers. Silver, Gold or Platinum status means you can get benefits like Virgin Australia airport lounge access, additional baggage and priority boarding.
Flying is the main way to earn Status Credits but there are a couple of other ways – including credit cards that offer bonus Status Credits. For example, a card might offer 100 Velocity Status Credit when you spend $4,000 in the first 3 months – but this is a rare feature.
According to Finder's credit card database, the American Express Velocity Platinum is the only credit card that currently offers status credits. With this card, you'll get 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases within your membership year.