American Express Platinum Card – Rates and Fees

Information verified correct on December 9th, 2016
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Enjoy 100,000 Membership Rewards Bonus Points, a $300 travel credit and no pre-set spending limit with the American Express Platinum Charge Card.

The American Express Platinum card is a charge card designed for big spenders, frequent travellers and cardholders that want to be rewarded for their spending. As well as earning Membership Rewards for every dollar you spend, you will get 100,000 bonus Membership Reward points if you spend $1,500 within the first 3 months of card activation. That's up to four return flights from Sydney to Melbourne.

The travel perks continue with a $300 Platinum Travel Credit every year, which you can redeem online for flight tickets, hotel bookings, or car hire. Plus, If you're looking to save money, you can take advantage of complimentary travel insurance cover and up to 44 interest-free days on purchases.

Product NameAmerican Express Platinum Card
Rewards ProgramMembership Rewards Premium Ascent
Offer end date31 January 2017
Annual fee$1,200 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Minimum Monthly Repayment2.5% or $30
Minimum Income$100,000
Card TypeAmerican Express
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$100,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$1,200 p.a.
Minimum Repayment2.5% or $30
Late Payment Fee$30
Over Limit Fee$15
Overseas Emergency Replacement$0
Overseas ATM Balance check$1.50
Overseas ATM Withdrawal Fee$1.50
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • 100,000 Membership Rewards Bonus Points on eligible spend when you apply by 31 January 2017
  • Platinum card holders get complimentary membership to the Ascent Premium rewards program. The Ascent Premium Rewards program is superior to all others.

Cons

  • There is no pre-set spending limit, with purchases approved based on the lending requirements of American Express.
  • This card has an annual fee of $1,200. If you are looking at this card then you can probably afford it; however, almost one thousand a year to use this card will mean that you should be serious about taking advantage of the Ascent Premium Rewards Program, otherwise it's a waste of money.
Rewards ProgramMembership Rewards Premium Ascent
Bonus Points on Sign-up100,000
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap300,000
Points ExpiryNever

American Express Platinum Card review

The American Express Platinum Card offers Aussie cardholders a number of ways to be rewarded as they spend. You'll earn up to 3 Membership Rewards for every $1 spent. Plus, when you spend $1,500 in the first 3 months of card activation, you can bolster your points balance with 100,000 Membership Rewards Bonus Points.

This card also offers complimentary travel insurance, a $300 annual travel credit, a 24/7 platinum concierge service and Priority Pass for airline lounge visits. All these perks give you plenty of ways to offset the $1,200 annual fee. As a charge card, this card has no pre-set spending limit when you pay your balance in full every month, making it a simple way to manage your cash flow each statement period.

Benefits of the American Express Platinum Card

  • 100,000 Membership Rewards Bonus Points. New and approved cardholders are eligible to receive the 100,000 bonus points when they apply before 31 January 2017, are approved and spend $1,500 within the first 3 months of card activation – that's enough points for up to 4 return flights from Sydney to Melbourne. Note that cardholders who currently hold or have held an American Express card in the preceding 18-month period are ineligible for this bonus points offer.
  • Reward points as you spend. As an American Express Platinum cardholder, you become an automatic member of Ascent Premium – the highest tier of American Express Membership Rewards. You earn 3 reward points for every $1 spent at various restaurants in Australia, 2 reward points per $1 spent towards flight tickets, cruises, and accommodation as well as on overseas purchases and 1 point per $1 spent on most everyday purchases. You'll even collect 0.5 reward points per $1 spent towards utility bills, telecommunications providers, and government bodies. You can redeem the rewards for your choice of flights with 10 partner airlines and 2 partner hotel programs or gift cards, credit on your account and a range of other rewards.
  • $300 Platinum Travel Credit. Each year, you'll receive a $300 Platinum Travel Credit which you can use for prepaid airfares, car hire or hotel bookings made through American Express Travel. You can redeem this travel credit for anyone and no booking fees apply.
  • Airline lounge access. American Express Platinum Card members are enrolled into the Priority Pass program, giving you (plus any additional cardholders and a complimentary guest) access to 900 VIP lounges worldwide. Cardholders receive complimentary access to luxurious Virgin Australia lounges for themselves and one guest every time they fly with Virgin Australia.
  • Platinum Fare Guarantee. Book flights knowing you're getting the most competitive deal with the Platinum Fare Guarantee. You'll receive price certainty on all First and Business Class fares with selected airlines. So, if you find the same fare or less elsewhere, American Express will match it until 31 December 2016.
  • Platinum Airline Privileges Program. Depending on the airline and destination, you can save up to 20% on standard fares found outside of the Platinum Travel Service and receive competitive deals through the Platinum Airlines Privileges Program.
  • Complimentary insurances. If you use this card to pay for travel, you receive complimentary insurance covers that offer protection to you, your spouse, and dependent children travelling with you. This includes transport accident cover, travel inconvenience cover, travel cancellation cover, medical emergency expenses cover, hijack cover, and resumption of journey cover. Purchases you make using this card are also covered by purchase protection cover, refund protection cover, and buyer’s advantage cover.
  • Platinum concierge service. You can turn to this complimentary global round-the-clock service for assistance in matters like locating restaurants, booking tickets, finding a suitable gift, or even making arrangements for a business meeting.
  • Mobile contactless payments. Whether you have an Android, Apple or Samsung device, you can save time at the cash register and pay with the convenience of your smartphone with Android Pay, Apple Pay or Samsung Pay.

Features of the American Express Platinum Card

  • Annual fee. This card attracts an ongoing annual fee of $1,200 that you have to keep paying for the life of the card.
  • No pre-set spending. As a charge card, the American Express Platinum Card has no pre-set spending limit. You'll also save on interest costs so long as you pay your balance in full each month.
  • Travel rewards. This card includes a number of travel features. You can use the $300 Platinum Travel Credit every year to pay for airfare, hotel booking, and car hire. Complimentary membership to the Accor Plus program also offers one-night free stay at any Accor property each year. You also get free membership to leading hotel partner programs like Le club Accorhotels, IHG Rewards Club, Starwood Preferred Guest, and Club Carlson. Travel in style with a Priority Pass to access over 900 VIP lounges at airports around the world. When you fly with Virgin Australia, you'll also access Virgin Australia lounges for free.
  • Security. All of your online transactions will be protected by online fraud protection, letting you shop online with peace of mind. If you an item you've purchased with the card is lost or damaged, you can make use of purchase cover protection. With buyer's advantage, you can also look forward to extended warranty on eligible products and refund protection.
  • World class service. As a platinum card, you can look forward to exclusive premium features. As well as the complimentary 24/7 concierge service, Taste from Platinum gives you access to some of the best restaurants in the world and your My Wine Companion membership comes with a personal wine advisor and member-only discounts. The Platinum Card Service can also provide you with assistance if your card is lost or misplaced or if you have any questions about your account.

How to apply for the American Express Platinum Card

You can apply for the American Express Platinum Card online in around 10 minutes and can get a response within 60 seconds. To ensure the application process goes smoothly and to increase your chances of approval, make sure you've met the eligibility requirements and have the necessary documents handy before you apply:

Eligibility criteria

  • You are over 18 years of age
  • You are a permanent Australian resident or citizen
  • Your earn at least $100,000 as pre-tax income
  • No history of bad debt or payment default

Required documents

  • Your complete name, date of birth, marital status, and number of dependents
  • Your Australian driver’s license number (if you have one)
  • Your residential address, email address, and phone number
  • Your employer’s name, address, and phone number
  • Details surrounding your income, assets, expenses, and liabilities
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59 Responses to American Express Platinum Card – Rates and Fees

  1. Default Gravatar
    adam | April 14, 2016

    With regards to supplementary card holders on Platinum Charge AMEX, can two separate direct debits be set up or is the primary card holder only allowed the one direct debit?

    • Staff
      May | May 11, 2016

      Hi Adam,

      Thanks for your question.

      I apologise for the delayed reply. Yes, you can set up a separate direct debit with the AMEX Platinum Supplementary Charge card.

      Cheers,
      May

  2. Default Gravatar
    Kimberley | January 30, 2016

    Does the platinum card get myself and a guest traveling on Virgin into the virgin lounge in Australia?

    • Staff
      Jonathan | February 1, 2016

      Hi Kimberley, thanks for your inquiry!

      Unfortunately the Priority Pass membership with American Express does not include the Virgin Lounge in Australia. The only included lounge in Australia is the Cairns International Reef Lounge. You can view all available lounges with the Priority Pass on this page.

      Cheers,

      Jonathan

    • Default Gravatar
      Neil | May 4, 2016

      Hi,

      I am a UK Platinum and Cash Rewards American Express cardholder and hold an Australian American Express through CBA. Can you tell me how I can best access the Priority Pass scheme please so that I can access the Airport Lounge at Sydney airport as well as others around the globe?

      Thanks in advance.

    • Staff
      May | May 5, 2016

      Hi Neil,

      Thanks for your inquiry.

      Unfortunately, the CBA AMEX card does not come with complimentary access to the airport lounge. But the credit cards that are listed on this page do. In the meantime, you may want to join the Priority Pass membership program to have a wide range of access in over 900 lounges in 400 cities across 120 countries worldwide.

      I hope this has helped.

      Cheers,
      May

  3. Staff
    Debbie | January 4, 2016

    Hi Joseph,

    Thank you for your inquiry.
    Please refer to the PDF I have sent to your email for the travel insurance policy included on American Express Platinum Card.

    To understand more credit card travel insurance, kindly go through this page.

    I hope this helps.

    Cheers,
    Debbie

  4. Default Gravatar
    JI | December 14, 2015

    I have concerns after reading reviews that the complimentary travel insurance does not cover supplementary card members. Is my wife’s card a supplementary one or is she considered a primary card member?

    • Staff
      Ally | December 15, 2015

      Hi Jl,

      Thanks for your inquiry.

      Kindly note that you have come through to finder.com.au, an online comparison service, which does not represent any credit card issuer such as AMEX.

      Anyway, that depends on how your wife got the card. If she applied for a primary account, she’s supposed to receive billings for the annual fee, and monthly statements are supposed to be issued which detail the combined points for all linked program accounts, while a supplementary card just authorizes her to use it (being a card issued on a primary card member’s account that is liable for all supplementary credit card spending).

      Should you wish to clarify on the status of your wife’s account further, it would be best to speak with an AMEX representative for direct assistance. That said, I have emailed you their contact details for your reference.

      I hope this has helped.

      Cheers,
      Ally

  5. Default Gravatar
    Dee | September 23, 2015

    Can I have additional cards with one account?

    If yes, how much does it cost?

    • Staff
      Sally | September 23, 2015

      Hi Dee,

      Thank you for your comment.

      Cardholders can get up to 4 additional cards without paying any additional annual fee.

      I hope this has helped.

      Thanks,

      Sally

  6. Default Gravatar
    Andy | September 5, 2015

    Hi there:

    Thank you for making this website. The information is quite useful.

    Just want to know whether the AMEX Platinum card concierge service is worth it? I have heard many rumours about how the quality of AMEX’s concierge service diminished over the past decades.

    These rumours include:
    - no concierge answers the phone, or has to wait for a long time before they pick up the phone
    - not being able to fulfil regular requests such as booking hotels, etc.

    Appreciate your time.

    Andy

  7. Default Gravatar
    Josie | August 4, 2015

    Hi I have a AMEX Platinum card and I am travelling to Europe at the end of this week and I see that Platinum Cardholders apparently get a Priority Pass that gives them access to over 600 VIP lounges at airports around the world. Can you please let me know how I can go about getting this priority pass please before I go?
    Best Regards Josie

    • Staff
      Jonathan | August 4, 2015

      Hi Josie, thanks for your inquiry!

      American Express Platinum cardholders receive complimentary Priority Pass membership and for one supplementary/ additional cardholder per account upon enrolment. To gain entry into the respective air lounge, platinum cardholders must present their Priority Pass card and same-day boarding pass. It is important to note that it may take up to eight weeks to receive your Priority Pass card from approval. Please refer to the link I have sent to your email to enrol your American Express Platinum card with the Priority Pass membership. It may be possible to gain entry into an air lounge once your membership number has been confirmed. You may like to contact the Priority Pass customer service team to verify your eligibility to enter the air lounge beforehand.

      Cheers,

      Jonathan

  8. Default Gravatar
    Kyle | August 3, 2015

    Hi there,

    My parents have just been given a Velocity American Express Platinum Card and I am looking to become an additional card holder. However, do additional card holders have the option to gain velocity points using their own velocity account?

    • Staff
      Sally | August 5, 2015

      Hi Kyle,

      Thanks for your inquiry.

      Both Primary cardholder and Supplementary/additional cardholders share the same services and privileges that American Express membership offers. This means that any points you earn from eligible transactions made with your card from being an additional cardholder will also be shared with your parents and vice versa.

      I hope this has helped.

      Cheers,

      Sally

  9. Default Gravatar
    andrew | July 7, 2015

    We have purchased our plane tickets on frequent flyer points and have paid the taxes on our American express. Does this entitle us to the complimentary travel insurance?

    • Staff
      Sally | July 7, 2015

      Hi Andrew,

      Thank you for your question.

      If you have paid your travel costs for you, your spouse, and any dependent children, you should be entitled to the complimentary travel insurance.

      However, you may wish to contact American Express directly to confirm what you’re covered for in your specific circumstance.

      I hope this has helped.

      Thanks,

      Sally

  10. Default Gravatar
    Lena | May 22, 2015

    Hi, I’ve just applied for the American Express Platinum Charge Card and it has been approved. If I have the David Jones/American Express credit card, am I still considered a new member for the purposes of the 80,000 bonus points?

    thanks
    Lena

    • Staff
      Elizabeth | May 25, 2015

      Hi Lena,

      Thanks for your question.

      Unfortunately, if you currently hold or have previously held an American Express card product in the previous twelve months you are ineligible for the bonus points offer.

      Thanks,

      Elizabeth

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