American Express Platinum Card

The basics

• Additional cardholders. Add up to 4 additional cardholders for free and share your account with family members. Note that any Membership Rewards Points earned will accrue under the primary cardholder's account, whose responsibility it is to keep the account in good standing.
• Digital wallets. Apple Pay, Google Pay, and Samsung Pay are not available.
• Gambling transactions. American Express has blocked gambling-related purchases on all cards they issue, including the American Express Platinum Card.

Rewards and benefits

• Complimentary travel insurance. The American Express Platinum Card offers complimentary international — and domestic — travel insurance cover. The card must have been used to purchase travel tickets before leaving to activate the policy. Eligibility criteria apply.
• Concierge services. The American Express Platinum Card comes with access to a 24/7 concierge service. This service can help manage travel plans, assist with shopping advice, provide price comparisons, and more.
• Insurances. As well as international travel insurance, this card comes with a suite of coverage, most notably for smartphone screen repairs up to $500. Additionally, cardholders get transport accident cover; medical emergency expenses cover, including repatriation; personal liability cover; travel cancellation cover; and baggage, money, and documents cover.
• Rewards points. The American Express Platinum Card offers cardholders 2 Membership Rewards Points per $1 spent on eligible purchases made in Australia and overseas. Points can be redeemed through the Membership Rewards program and are not subject to an expiry date. Most usefully, they can be transferred to Air New Zealand Airports, Cathay Asia Miles, Emirates Skywards, Malaysia Airlines Enrich, Qantas Frequent Flyer, Singapore Airlines KrisFlyer, and Velocity Frequent Flyer. Points may also be transferred to Hilton Honors and Marriott Bonvoy. This versatility makes it much easier to redeem Membership Rewards Points for valuable Business and First Class flights or luxury hotel stays.
• Sign up bonus. American Express offers new customers a sign up bonus of 100,000 Membership Rewards Points when you spend $1,500 in the first 90 days on your American Express Platinum Card. That's a substantial bonus for a relatively low spending target.

Rates and fees

• Annual fee. This card has an annual fee of $1,250 p.a. Yes, this is at the very upper end of credit card annual fees, but the sign up bonus, insurance, and travel benefits offset this significantly.
• Balance transfers. There is no interest-free balance transfer offer, which isn't unusual for Amex.
• Cash advances. Cash advances made using the American Express Platinum Card are subject to a cash advance rate of 22.99% p.a., with interest accruing immediately from the transaction date. American Express also charges a fee per cash advance in addition to interest.
• Foreign exchange fee. Any purchases made while overseas or with an online store based overseas will incur a 2.5% foreign transaction fee.
• Interest-free period. This card has up to 44 days interest-free.
• Purchases. The American Express Platinum Card is a charge card, meaning the balance must be settled in full each month.