Almost anyone can have a credit card. But not just anyone can have an American Express Platinum Card.
For a start, there’s a very high minimum income requirement. Then there’s the extremely high annual fee, which may deter even some high-income earners. But once you jump over those two hurdles, you enter a world of prestige and privilege with a seemingly endless list of benefits. Amex has bent over backwards to make you feel special.
This is not a credit card, so there’s no messing about with interest rates and balance transfer options. There’s no effective interest rate because there’s no minimum payment opportunity. You will be required to pay off the total amount of your purchases on the card each month, so don’t choose this card unless you are willing and able to do so. But because of the monthly billing cycle, you will in fact get up to 44 days of credit each month, interest-free. Up to four supplementary cardholders can be included in your account without paying additional annual fees.
One of the best things about this card is the membership of the American Express Ascent Premium Membership Rewards program, the highest level available for an Amex personal card. And by reaching an easily achievable spending target in the first three months of holding the card, you will earn a very large number of bonus points. It would be a great kickstart to points earning for Amex first-timers, and you could even make an early redemption for a substantial item.
You won’t qualify for the bonus points if you have held an Amex card in the previous 18 months.
The lower levels of Amex Membership Rewards don’t allow you to transfer your points to the Qantas Frequent Flyer program, but as an Ascent Premium member, you will be able to do this. You can transfer your points to the Qantas Frequent Flyer program, Virgin Australia Velocity Frequent Flyer, Etihad Guest, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, Air New Zealand Airpoints, THAI Royal Orchid Plus, Malaysia Airlines Enrich, and Cathay Pacific Asia Miles.
Points can also be transferred to two ‘Frequent Guest’ programs: Hilton Honors and Marriott Bonvoy.
Alternatively, you could use the points for other forms of travel through the Amex Platinum travel service, to shop at David Jones online, for gift cards to use at major retailers, or convert them into cash credit against your card account balance.
The points-earning system for this card is quite simple and very rewarding:
There’s no points threshold or cap, and points never expire as long as your card account is current and in good standing.
Amex knows that prestige cardholders are regular travellers, so there is a long, long list of tempting built-in travel and entertainment benefits:
As you would expect with a card of this high status, there’s a host of built-in insurance policies with above-average features.
As you would expect, the travel insurance cover is activated by paying the full fare for your trip with your card. But you can also activate it by paying the fare with Amex Membership Rewards points or with any type of rewards or frequent flyer points provided you use your card to pay the associated taxes and surcharges for the booking. Also, if you can prove that the travel merchant would not accept Amex cards, meaning that you had to use another means of payment for your fare, you’re still covered.
The insurance cover provided with this card leaves almost nothing to chance and is extremely generous in many of its provisions, appropriate to the probable high-end lifestyle of the typical cardholder.
The card’s privileges don’t stop at travel benefits. Some of these additional benefits may be subject to change, but at the time of writing they also include:
This card is really in a class of its own because of the high rewards earning rate, the flexibility to transfer to other reward schemes (including, particularly, Qantas Frequent Flyer), and the truly valuable complimentary travel, insurance, and other benefits. But if the extremely high annual fee is just too much, you could take a look at other high-income cards, such as the NAB Qantas Rewards Signature Card, the Westpac Altitude Black Credit Card, or the St. George Amplify Signature Credit Card, all of which have fewer benefits but significantly lower annual fees.
If you’re a well-heeled frequent traveller who likes to enjoy life’s luxuries as well as the peace of mind provided by exceptional travel and purchase insurance cover, the high fee should not be too difficult to justify, especially in the first year when the significant number of bonus points easily covers the fee is used to maximum advantage to purchasing Business Class flights or even First Class upgrades.
Reviewed by Yvonne Taylor
Lead Product Analyst
Very pleased with AmEx
Reviewed by SL
Overall I find the American Express Platinum Card is very good. It has 50 days interest free and the rewards program comes with a return domestic flight once a year, anywhere in Australia, including travel insurance. Customer service is good. I have been using AMEX for years and I am overall satisfied with them."
Rewarding for high volume use
Reviewed by Tell it like it is
This card is quite expensive on the yearly fees but offers a free flight every year in Australia plus many points for purchases that may be used for other materialistic hedonism or accumulated for further flights. The company personnel are always very helpful. The trick is to pay it off every month and it keeps a record of your expenses and donations. Some merchants like to charge extra for this card – if that’s the case I don’t use it, as that’s not cost effective.
Very pleased with card
Reviewed by Andy
Fantastic card – but some places don’t except it still. The sad part is that the reward program changed from buying items from AMEX direct to buying gift cards / vouchers for a small number of businesses
Good rewards but not accepted everywhere
Reviewed by D
Lots of stores do not accept and a surcharge often applies – have another for when this happens. Generally no other problems and offers a good points earn rate when using. Limits can be easily added and services always been good when dealing with issues. Thanks for listening AmEx!
100k sign up bonus
Reviewed by Dan
I have been a happy AmEx customer for many decades and currently have another AmEx product.
The 100,000 points sign up bonus for the Platinum Charge Card is attractive enough to want to upgrade my current product, however, terms of the sign up bonus state this is only available anyone who is new to AmEx or didn’t have another AmEx card in the past 12 months. When I called AmEx for clarification whether 12 months refers to having had the Platinum Charge card in that period, I was told this rule refers to having had any AmEx card in that period. When I asked if AmEx wants me to leave them for 12 months so that I can qualify for the 100,000 points sign up bonus in 12 months, their response was pretty much 'yes’. This is exactly what I am about to do. I am just waiting for my last lot of AmEx points to transfer to the airline program, after which time I am closing my AmEx card so that the period of 12 months can start clocking away.
I am really perplexed with this attitude on the part of AmEx, which makes no commercial sense whatsoever. I understand they would want to prevent people speculatively closing one Platinum Charge Card only to obtain the same card with a sign up bonus, but I don’t understand the logic behind stopping somebody upgrading their current AmEx product to the Platinum Charge Card, or even take it up in addition to keeping their existing card. So here I am leaving AmEx for no good reason other than to fulfil some idiotic marketing clause. Let’s hope the new financial institution doesn’t treat me too well or maybe in 12 months’ time I won’t want to return to AmEx.
Reliable and the fees are great
Reviewed by Anne
I decided to go with American Express and even though it isn’t accepted in a few stores, it’s becoming more widely accepted. The rewards are amazing, with an option to pay some of your debt off using the points accumulated for spend. I think other banks and credit providers should also do this, as it does help with repayments.
Reviewed by Steven
Simple and easy to use, stress-free with maximum rewards.
I get double points for every dollar spent and the benefits and rewards accumulate quickly, so you can purchase anything, within your points limit, until your heart’s content. With fifty five days to pay your credit card back, interest-free, the American Express Platinum Card, makes life less complicated and care-free.
Great for earning extra Qantas points
Reviewed by Neil
This card earns triple points at supermarkets and double points for fuel and purchases with Qantas—it’s great when planning overseas trips for travel bookings. You can use these points to upgrade to Premium Economy and Business Class and for basically no added cost. The team at American Express are great to deal with and always provide great customer service.
One of the best in the world
Reviewed by Michael
I don’t really like credit cards much, but having the Platinum American Express credit card is rewarding. It has great rewards, an excellent app, and is even compatible with Apple Pay. It definitely destroys all the other credit card companies.
The downside is that the credit card is a bit expensive and not all places accept it, but it is always my first choice by far.
Great product for a busy and luxury lifestyle
Reviewed by Bingxuan
Apart from the $1,200 annual fee, this card is a great product for a luxury lifestyle. It has access to a wide range of worldwide airport lounges, complimentary insurance coverage, complimentary elite hotel and car rental memberships, and an annual domestic return flight on Virgin Australia. This card is a charge card, which works well only if you repay your full balances every month.
Reviewed by Mike
I love this card. Great offers can be saved to the card. Fees are reasonable, but often they give a loyalty bonus around renewal times (if you ask).
When I contact them, I always receive excellent customer service, day and night. The online and app access are good also. Overall, a great deal.
Earned enough points for two overseas flights
Reviewed by Bianca
There are great rewards, the staff are very helpful, and I have never had any issues with the card. I have managed to save enough points to fly myself and my partner overseas and back.
I have no complaints at all. I love the trust of the company and wouldn’t go with any other one.
Best card I have ever used
Reviewed by Harpreet
This card is the best card I have ever used. It gets accepted pretty much anywhere, in Australia or overseas.
There are very attractive rewards for frequent flyers, and customer service is the best in the business. There are great security features attached to it.
i use it for daily expenses, booking and buying stuff online, and over-the-phone transactions.
Not a lot of shops take AmEx, or they add on a fee
Reviewed by Linda
Great card, just not a lot of stores accept them. When you do go to use them they also charge a fee at petrol stations, etc. I do use mine for grocery shopping every now and then at Woolworths — I get $20 off which is great. It would be a better card if it was accepted in a lot more places.
It's good, but I can't use it everywhere
Reviewed by Callum
I like the card but wish I could use it more often and get more points. And I know it sounds stupid, but it would be nice if they made the cards look more attractive. That way I would be obliged to put it in my wallet and keep it there, instead of losing it every few months.
Great for travel insurance
Reviewed by Katie
This card is great because it includes free travel insurance, which I used when I was overseas for six months, and it saved me so much money.I love the rewards, but it’s a shame that it’s not accepted everywhere, and where it is accepted there is often a surcharge.
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