Save on low interest rates and balance transfers, enjoy premium insurances and boost your rewards balance with bonus points with an American Express credit card.
If you're interested in an American Express credit card, you can compare the fees, features and benefits in the comparison tables below.
Qantas Frequent Flyer Credit Card Offer
The Qantas American Express Ultimate Card offers 55,000 bonus Qantas Points and up to 2.5 Qantas Points per $1 spent on eligible purchases.
- Receive 55,000 bonus Qantas Points when you apply, are approved and spend $1,500 in the first 3 months from card approval.
- Earn up to 2.5 Qantas Points per $1 spent on eligible purchases (uncapped).
- Enjoy a complimentary Qantas domestic return economy flight each year after your first eligible spend.
- Take advantage of the 0% p.a. introductory balance transfer rate for the first 12 months. A one-off 1% establishment fee applies.
- New card members only. Eligibility criteria, T&Cs, fees and charges apply.
American Express Credit Cards Comparison
Rates last updated May 25th, 2017.
- Qantas American Express Premium Card
Bonus points offer changed from 60,000 to 30,000.
May 2nd, 2017
- American Express Explorer® Credit Card
Bonus points offer has been changed from 100,000 to 50,000 points.
May 16th, 2017
- American Express Velocity Platinum Card
Bonus points offer has changed from 50,000 to 100,000 which is valid until 31 July 2017.
May 16th, 2017
Types of credit cards from American Express
Many well-known Australian banks issue American Express credit cards as companion credit cards — a Visa or Mastercard and an American Express card — but there are also a number of American Express issued credit cards available for personal and business. You can compare premium products for high-income earners, rewards cards or cards with low rates and fees to save on costs below.
Balance transfer credit cards
If you're struggling to repay an existing debt because of high interest, you could transfer your old balance to an American Express card with a 0% p.a. balance transfer rate for 12 months. This means that you'll have the chance to repay your debt faster and without the extra cost of interest while the promotional period is in place. Please note that a one-off 1% balance transfer fee applies. See our step-by-step guide on how to complete a balance transfer with American Express for further information.
Low rate credit cards
Unfortunately, the American Express Low Rate Credit Card is no longer available to new customers. Instead, you might want to consider the American Express Essential Credit Card which has a competitive ongoing interest rate of 14.99% p.a. Otherwise, most American Express credit cards have a higher interest rate of 20.47% p.a.
Rewards credit cards
Depending on the card, American Express rewards cards will earn Membership Rewards points on all eligible purchases. These points can then be redeemed for rewards such as cash back, flight rewards with your choice of nine partnered airline loyalty programs, gift cards and more. If you're a regular spender and always repay your balance in full by the end of the statement period, an American Express rewards credit card could be a convenient way to get extra perks from paying on plastic. Depending on the card, you could earn between 10,000 and 100,000 bonus Membership Rewards on signup if you meet the spend requirement after being approved for one of these cards.
Frequent flyer credit cards
Rather than earning points with the Membership Rewards program, American Express frequent flyer credit cards let you earn points with an airline loyalty program directly from your purchases. Currently, American Express offers frequent flyer cards that can earn Qantas Frequent Flyer Points or Velocity Points with Virgin Australia's loyalty program. These cards offer up to 100,000 bonus points on signup when you meet the spend requirement, helping you boost your points balance from the offset. While some of these cards have a $0 annual fee, others have annual fees up to $450.
Store credit cards
Much like rewards credit cards, store credit cards let you take advantage of rewards with a particular merchant. For example, the David Jones American Express credit cards allow you to earn Membership Rewards and take advantage of exclusive in-store benefits with the department store. If you're a loyal and frequent David Jones shopper, this card could help reward your purchases.
Business credit cards
If you manage your business expenses on plastic, a business credit card from American Express could come in handy. With additional cardholders to manage employee spending, the opportunity to earn Membership Rewards on business spending and tools to track your business expenditure, American Express credit cards offer many features that could benefit your business' finances.
The benefits of banking with American Express
Membership Rewards — frequent flyer transfer partners
American Express Membership Rewards can be used to book travel or they can be transferred to Frequent Traveller Partners such as Velocity Frequent Flyer, Singapore Airlines' KrisFlyer, Etihad Guest, Emirates Skywards, Air New Zealand and more. Otherwise, you can use your Membership Rewards for cash back on your account, to redeem gift cards with the likes of iTunes, BP, David Jones and Bunnings (to name a few), to shop with points and book accommodation.
Fraud protection and contactless payments
Every American Express credit card comes with contactless payment technology. Just tap your card against the contactless reader to pay for purchases under $100. All American Express credit cards are protected against fraud as well. So if you're a victim of credit card fraud, you will be covered by a Fraud Protection Guarantee and won't be liable for any unauthorised spending on your account. Intelligent security and secure payment systems are also in place to protect whatever you purchase online or in-store in Australia or overseas.
You can use your Membership Rewards Points at Ticketmaster — they’ve got a discount code for American Express members too, so you can save on big ticket sporting events and concerts. American Express Entertainment Access puts you first in line for selected lifestyle events and experiences.
How to apply for an American Express credit card
If you've compared your options and decided an American Express credit card is for you, you can apply online for a credit card in 10 or 15 minutes. Before you apply, though, make sure you've met the following eligibility requirements and organised the necessary documents to complete your application and increase improve your chances of approval.
The eligibility criteria varies from card to card, but you can expect the following:
- Age. Applicants must be at least 18 years or older.
- Residential status. Only permanent Australian residents or citizens may apply.
- Minimum income. You'll need to meet the minimum annual income requirement to apply.
- Credit history. Applicants must have a good credit rating.
Make sure you've organised the following information and documents before you apply:
- Details about your income and employment. You’re required to provide your annual income, including any income generated from assets like property or shares, and also whether you have any savings. You will also need to provide your employer’s contact information or your account’s details if you’re self-employed.
- Debts and liabilities. You need to provide information about your ongoing expenses, like child support payments, your weekly food budget, loan repayments and dependent children. If you have other credit cards, you'll need to list the size of the balance you’re carrying on each card and whether you want to transfer the balance.
- Personal information. You will need to list basic personal details like your name, contact information and your address.
Frequently asked questions
Do you have a question about American Express credit cards? Check the FAQs below for an answer. If you can’t find the question and answer you’re looking for, get in touch with us using the form at the bottom of this page.
Can I apply for an American Express credit card?
- You must be 18 years of age or older.
- You must have a good credit history.
- Be a permanent Australian resident or hold a long stay visa.
- Earn more than $30,000 p.a. Self-employed borrowers must have been trading for 18 months before they can apply for an American Express credit card.
How do I transfer a balance to an American Express credit card?
Interview about American Express balance transfer FAQs
What is a credit establishment fee?
A credit establishment fee is a balance transfer fee. It’s charged when you bring your existing credit card debt over to your new American Express credit card when you apply. It’s supposed to be a fee to cover the administrative costs of processing a balance transfer request. The credit establishment fee is expressed as a small percentage of your total balance transfer amount — sometimes 1%. The fee is taken from your available credit on your credit card, so it will need to be factored into any calculation of the total balance transfer balance.
Where can I use my American Express credit card?
American Express credit cards are not accepted by all Australian merchants, but this is changing. Every year, more and more shops and businesses accept American Express credit cards. American Express have a Business Directory tool that allows you to search for Australian businesses that accept an American Express credit card. You can access the American Express Business Directory on their website.
What’s the minimum repayment? How much do I have to pay each month?
The minimum repayment is a small percentage of your balance that you must pay back to stop your account from entering into default. The minimum monthly repayment is listed on our American Express credit card review pages and it is the minimum amount you must pay off your credit card when your statement is issued. The due date is displayed on your credit card statement.
What is American Express Membership Rewards?
How do I become a member of American Express Membership Rewards?
Apply and get approved for an American Express rewards credit card and you’ll be automatically enrolled in American Express Membership Rewards. To stay as a member, you need to pay your account. If you're going into default and you don’t pay within 40 days, your points are forfeited and you will no longer be a member of the program.
Do my American Express Membership Rewards points expire?
As long as you keep your account in ‘good standing’ your American Express Membership Rewards Points won’t expire. In 'good standing' means you need to stop your account from going into default, so keep paying your card and your points won’t expire.
Which airlines can I transfer my Membership Rewards Points to?
American Express has one of the largest number of airline frequent flyer transfer partners out of any rewards program in Australia. You get a competitive deal if you turn your American Express Membership Rewards Points into frequent flyer points. Many other rewards program have a shocking rate when you transfer between their rewards points and frequent flyer points with their partners. For many frequent flyer programs linked to American Express Membership Rewards, the conversion rate is 1:1. Transfer Frequent Flyer Points