Platinum, Gold and Black Credit Cards Comparison

Get better points earn rates, higher credit limits and exclusive perks when you use a premium credit card.

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Platinum, gold and black credit cards are premium options that open the door to exclusive benefits. Designed for people who spend a lot on plastic, these cards are a step up from standard offers, with features such as higher credit limits, more reward points and a huge range of complimentary extras. Here, we look at both the benefits and costs of these cards so that you can find one that's right for you.

Citi Credit Card Offer

Citi Rewards Card

0% p.a. for 30 months on balance transfers
$49 first-year annual fee

Offer ends 30 June 2021

Eligibility criteria, terms and conditions, fees and charges apply

Citi Credit Card Offer

Save with a long-term balance transfer offer and a first-year annual fee discount. Plus, Citi reward Points for your spending and complimentary insurance.

  • $49 first-year annual fee ($149 p.a. thereafter)
  • 0% p.a. on balance transfers for 30 months with no balance transfer fee, reverts to 22.24% p.a.
  • 21.49% p.a. purchase interest rate | 22.24% p.a. cash advance rate
  • Earn 1 Citi reward Point per $1 spent
  • Minimum credit limit of $6,000
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Compare Platinum, Gold and Black credit cards

Data indicated here is updated regularly
Name Product Bonus points Rewards program Rewards points per $ spent Purchase rate Annual fee
Citi Rewards Card
N/A
Citi Rewards Program
1
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee.
Qantas Premier Platinum
100,000
Qantas Frequent Flyer
1
19.99% p.a.
$199 annual fee for the first year ($299 p.a. thereafter)
Get 100,000 bonus Qantas Points, 75 bonus Status Credits and a 0% p.a. balance transfer rate for 18 months (with a one-time 1% BT fee).
ANZ Frequent Flyer Black
120,000
Qantas Frequent Flyer
1
20.24% p.a.
$425
Collect 120,000 bonus Qantas Points and $200 back when you spend $3,000 in the first 3 months. Plus, complimentary lounge passes.
NAB Qantas Rewards Signature Card
130,000
Qantas Frequent Flyer
1
19.99% p.a.
$295 annual fee for the first year ($395 p.a. thereafter)
Up to 130,000 bonus Qantas Points (100k when you spend $3,000 in the first 60 days and 30k after 12 months). Plus, a reduced first year annual fee.
Qantas American Express Ultimate Card
100,000
Qantas Frequent Flyer
1.25
20.74% p.a.
$450
Receive 100,000 bonus Qantas Points and $200 back on your card when you spend $3,000 within the first 3 months. Plus, a yearly $450 Travel Credit.
HSBC Platinum Credit Card - Balance Transfer Offer
N/A
HSBC Rewards Plus
1
19.99% p.a.
$0 annual fee for the first year ($129 p.a. thereafter)
Enjoy a 26-month balance transfer offer, a first-year annual fee waiver and complimentary travel insurance.
Bankwest Breeze Platinum Mastercard
N/A
N/A
10.99% p.a.
$0 annual fee for the first year ($69 p.a. thereafter)
Get 0% interest on balance transfers for 26 months, a $0 first-year annual fee, complimentary travel insurance and no foreign transaction fees.
Citi Clear Card
N/A
0.9% p.a. for 15 months, reverts to 14.99% p.a.
$99
Save with 0.9% p.a. for 15 months on purchases and balance transfers. Plus, complimentary purchase insurance cover.
American Express Business Explorer Credit Card - Exclusive Offer
120,000
Membership Rewards Gateway
2
3.99% p.a. for 6 months, reverts to 19.99% p.a.
$149
Finder Exclusive. Ends 01 February 2021.
ABN holders w/ $75,000 revenue. Get 120,000 bonus points when you spend $3,000 in the first 3 months. Plus, 2 airport lounge passes.
Qantas American Express Premium Card
80,000
Qantas Frequent Flyer
1
20.74% p.a.
$249
Enjoy 80,000 bonus Qantas Points, $200 back and 2 complimentary Qantas Club lounge invitations per year.
Westpac Altitude Platinum Qantas
60,000
Qantas Frequent Flyer
0.5
20.49% p.a.
$99 annual fee for the first year ($200 p.a. thereafter)
Get 60,000 bonus Qantas Points when you spend $3,000 within 90 days. Plus, a first-year annual fee discount and a long-term balance transfer offer.
American Express Qantas Business Rewards Card
150,000
Qantas Business Rewards
1.25
N/A
$450
ABN holders w/ $75,000 revenue. Get 150,000 bonus Qantas Points, 2 yearly Qantas Club lounge passes and 3x points on eligible Qantas flights.
American Express Explorer Credit Card
150,000
Membership Rewards
2
20.74% p.a.
$395
Get 120,000 bonus points when you spend $3,000 in the first 3 months. Plus, 30,000 points in the second year. Ends 27 Jan 2021.
Westpac Altitude Black
150,000
Westpac Altitude Rewards
1.25
20.49% p.a.
$250
Earn 150,000 bonus Altitude Points when you meet the spend requirement. Plus, 2 yearly Priority Pass lounge invitations.
American Express Gold Business Card
100,000
Membership Rewards Ascent
1.5
N/A
$169
ABN holders w/ $75,000 revenue. Get 100,000 bonus Membership Rewards Points and up to 51 days to pay for purchases.
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*The credit card offers on this page are chosen from a range of credit cards available to us and are not representative of all the products available in the market. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
couple using gold credit card

What’s the difference between platinum, gold and black credit cards?

While they are all premium options, each represents a different level of status and service. Gold credit cards are a step up from standard cards, platinum credit cards are above gold, and black credit cards sit at the top of the pack.

Gold credit cards

Gold credit cards are the “entry level” option for premium credit cards and are designed to suit people who are interested in getting more features and benefits, but who don’t want to pay much more than they would for a standard card. Some of the most popular features of gold credit cards include:

The features you can expect from a Gold credit card

  • Higher point caps than standard cards
  • Annual fees similar to standard cards, or slightly higher
  • Minimum credit limits typically starting from $4,000

Gold credit cards also have slightly higher income and credit history requirements than standard cards – but not as high as those of platinum or black cards.

Platinum credit cards

Platinum credit cards are considered more premium than gold cards and offer a wider range of features and more flexibility. They are designed for people who want to get more value from regularly paying with plastic. In comparison to gold options, platinum cards may include:

The features you can expect from a Platinum credit card

  • Complimentary international travel insurance with higher covers, domestic interstate flight inconvenience insurance and car hire insurance
  • Complimentary purchase protection insurance
  • More reward points per $1 spent than gold cards and higher reward points caps
  • Personal concierge services
  • Higher annual fees than gold cards, typically ranging from $87 to $1,200

Some platinum credit cards may also provide other spending benefits for customers. For example, platinum Bankwest credit cards offer no international transaction fees for purchases made overseas or online with an international retailer.

Platinum vs gold credit cards in Australia

One of the biggest differences between platinum and gold cards in Australia is that there is a larger selection of platinum credit cards than gold cards. In fact, while all of the Big Four Banks in Australia – ANZ, NAB, CommBank and Westpac – offer platinum cards, only CommBank offers gold credit cards for personal customers.

In terms of other differences, platinum cards offer higher minimum credit limits than gold cards, which can be a bonus if you spend a lot on credit and can responsibly manage your credit card payments. Platinum cards also charge higher annual fees than gold cards offered by the same provider, and offer more perks. If you want to compare platinum and gold credit cards side-by-side, looking at the costs, features and your own circumstances can help you choose one that works for you.

Black credit cards

Black credit cards are considered the ultimate in premium credit cards, with the highest level of service and broadest range of benefits. In addition to the complimentary extras that you can find on gold or platinum cards, a black credit card may provide:

The features you can expect from a Black credit card

  • The highest number of points per $1 for reward programs
  • Complimentary airport transfers
  • Flight upgrades
  • Dedicated travel booking services
  • A personal concierge service
  • A personal shopper
  • Invitations to exclusive events or promotions
  • Higher credit limits (sometimes up to $100,000)
  • Annual fees ranging from $349 to $700

Black credit cards are designed for high earners who pay with plastic very regularly. As such, the minimum income requirements for these cards are usually between $75,000 and $150,000. You also need flawless credit history to get a black credit card.

What to consider before applying for a platinum, gold or black credit card

The benefits of a platinum, gold or black credit card are only worth it if they offer more value than the costs that come from any interest charges or annual fees. Asking the following questions before choosing which type of card to get will help you find options that work for you.

  • How often do you use your credit card? Premium gold, platinum and black credit cards are designed for people who regularly use a credit card, and their annual fees and credit limits reflect that. Many of the complimentary extras available on these cards, such as travel insurance, also require you to pay with plastic to activate them. If you don’t use a credit card very often, you might want to consider a low rate or no annual fee option instead.
  • How much do you spend on your credit card? If you’re considering a rewards option, you should make sure the value of the points you earn outweighs the cost of the annual fee. For more information, check out our guide on calculating the value of rewards points.
  • How much money do you earn? Gold, platinum and black credit cards typically have higher minimum income requirements than standard credit cards.
  • How many premium card features will you actually use? Complimentary extras can help offset the cost of a credit card, but only if you use them. When considering different cards, make sure you’re realistic about which benefits you will use so that you can find a card that provides value based on your spending habits and circumstances.
  • Do you carry a credit card balance? Most gold, platinum and black credit cards have high standard interest rates. This means you could end up paying hundreds of dollars in interest every year when you carry a balance on one of these premium cards. If you don’t pay your account off in full each month, you may want to consider a premium credit card that has a low ongoing interest rate.
  • How much are you willing to pay on an annual fee? Premium credit cards typically have higher annual fees than no-frill options. While the value you get from a card's benefits can justify this cost, make sure you consider whether or not the cost of a card's annual fee seems reasonable based on your circumstances.
  • Do you have an excellent credit history and credit score? These credit cards all require good to excellent credit history. If you have black marks on your credit file, such as late payments or defaults, you may not be eligible to apply for a gold, platinum or black credit card.

Frequently asked questions about gold, platinum and black credit cards

Pictures: Shutterstock

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Ask an Expert

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37 Responses

    Default Gravatar
    rokoNovember 25, 2018

    If my application is unsuccessful, will I be offered an alternative limit card or will I need to reapply? This could impact my credit score (having to reapply).

      Avatarfinder Customer Care
      JeniNovember 26, 2018Staff

      Hi Roko,

      Thank you for getting in touch with finder.

      You may need to reapply for a credit card once your application is rejected. You may use this page as your guide on how to get your credit card application approved.

      Please note that every time you make an application for credit, like applying for a credit card, it’s listed on your credit file as a “credit enquiry”. It will be listed regardless of whether the application is approved or not. Making too many credit enquiries in a short space of time can have a negative impact on your credit score.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    GlendaNovember 18, 2018

    We have a black credit card, and have just read on your site we could be eligible for flight upgrades. Could you please tell me how to go about asking for and receiving upgrades. Many thanks

      Avatarfinder Customer Care
      JohnNovember 20, 2018Staff

      Hi Glenda,

      Thank you for leaving a question.

      Depending on the Black credit card you have as well as the frequent flyer club this card is affiliated on, you would need to register via the website of the frequent flyer club to be a member. Once that is done, you may check the benefits as well as the features that you could get via the card that you have as well as the points you have earned. Hope this helps! You may contact us real time via the chat button located at the lower right of our page.

      Cheers,
      Reggie

    Default Gravatar
    KevinOctober 6, 2018

    Commbank is closing their Amex cards on 1st of November. I pay them $300 p.a. for a bundle Amex and Mastercard credit card linked account. For Qantas and travel insurance, I might as well change to another bank and their bundle CC and earn some extra bonus points at the same time. Can you suggest a suitable option i.e. who has the best deal on finder right now? Please suggest no more than your best 2 suppliers.

    Thanks.

    Kevin

      Avatarfinder Customer Care
      JeniOctober 8, 2018Staff

      Hi Kevin,

      Thank you for getting in touch with finder.

      Please see this PAGE to learn more on companion/dual cards like yours from Commbank. As per the said page, having a companion credit card account allows you to earn a high rate of reward points when you can pay for something on your American Express credit card. If a merchant informs you of a surcharge or doesn’t accept Amex, you can pull out your Visa or Mastercard and use that so you still earn points for your spending. The great thing about the whole arrangement is that you only have one account to manage, one credit limit, one set of interest rates, one statement to look at, and you also only pay one annual fee, albeit a higher one.

      If you are looking around for cards that earn Frequent Flyer points and complimentary travel insurance, please see this LINK.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    billJune 7, 2018

    GOOD MORNING.
    WHO IS OFFERING BLACK CARDS HERE IN AU.
    THANKS.
    BILL

      Default Gravatar
      JoelJune 7, 2018

      Hi Bill,

      Thanks for leaving a question on finder.

      We have a list and comparison of black credit cards that you can avail here in Australia. Please go to THIS guide to compare black credit card offers and features, including those with introductory bonus points. You can also find out what features set black credit cards apart, whether or not you should apply for one, and how to get the most out of a black credit card when you use it.

      Cheers,
      Joel

    Default Gravatar
    IrisOctober 6, 2015

    how to obtain a balance statement of current month

      Default Gravatar
      ejayFebruary 24, 2016

      When will i know when i get it

      Avatarfinder Customer Care
      SallyFebruary 24, 2016Staff

      Hi Ejay,

      Thanks for your question.

      When you apply for the credit card, most issuers will let you know if your application has been approved or rejected within a minute. If you receive a pending response, this means the bank needs to spend more time assessing your application. In this case, you can usually expect a response within a week.

      I hope this has helped.

      Cheers,

      Sally

    Default Gravatar
    TrevJune 2, 2015

    Hi,

    I want the best value rewards credit card without a crazy high annual fee that offers no foreign transaction fees. These fees are amazingly deceptive because they are activated when dealing with some companies supposedly based in Australia but are domiciled overseas. Just another credit card company/bank rip off. I see Bankwest have 1 but not to sure on it. Any suggestions please? A list would be great, thanks

      Avatarfinder Customer Care
      JonathanJune 2, 2015Staff

      Hi Trev, thanks for your inquiry!

      Please refer to the following link for a list of credit cards with no annual fee and no foreign transaction fees.

      Cheers,

      Jonathan

      Default Gravatar
      TrevJune 2, 2015

      Thanks but this is not what I asked.
      I am looking for REWARDS credit cards with no foreign transaction fees. Thank you

      Avatarfinder Customer Care
      JonathanJune 2, 2015Staff

      Hi Trev, thanks for your response!

      Please refer to the following link for a list of no foreign currency exchange fee credit cards including rewards credit cards.

      Cheers,

      Jonathan

    Default Gravatar
    bradApril 22, 2015

    Hey I would like to see if I can get a credit card with you please.

      Avatarfinder Customer Care
      JonathanApril 23, 2015Staff

      Hi Brad, thanks for your inquiry!

      Please note that finder.com.au is a comparison service and is not directly affiliated with any banks. The application criteria and requirements are listed under each credit card review page. If you meet those criteria then you will be eligible to apply. To allow me to assist you further was there a specific credit card you were inquiring about today?

      Cheers,

      Jonathan

    Default Gravatar
    AnnMarch 18, 2015

    I don’t work iv bad credit at the moment so can you help me be accepted for credit card

      Avatarfinder Customer Care
      JonathanMarch 18, 2015Staff

      Hi Ann, thanks for your inquiry!

      Please note that finder.com.au is a comparison service and is not directly affiliated with any banks/lenders. Unfortunately Australia does not have a credit card product targeted towards bad credit customers, however there are ways to improve your credit score to increase the chance of being approved. Please see this page for more information on improving your credit score. It would be recommended to speak to a lender/ bank directly either through the phone or local branch so they would be able to best advise on your options and eligibility.

      Cheers,

      Jonathan

    Default Gravatar
    harryNovember 3, 2014

    Hi I have a Westpac platinum and paying for a trip over seas from June 3rd to 23 September with my wife
    does the travel ins cover me for wile I am away . The ins says only 3 months and there a lots of could pay for this in a lot of clauses in travel ins .Is there a number to contact if about parts of insurance.

      Avatarfinder Customer Care
      ElizabethNovember 4, 2014Staff

      Hi Harry,

      Thanks for your question.

      The period of cover last for six months if you have an Earth Platinum, Altitude Platinum or an Altitude Qantas Platinum, Singapore Airlines Westpac Platinum card or a Westpac Platinum 55 day card.

      The cover will last for three months if you have any of the Platinum Plus range of credit cards. You can get in contact with Zurich (the insurance providers) directly if you have questions regarding your insurance cover, I’ve sent you through the number.

      Thanks,

      Elizabeth

    Default Gravatar
    AnneMarch 8, 2014

    Is insurance free for Platinum card Mastercard holders if paid for by that card for travellers of 81 years of age

      Default Gravatar
      AlanMay 14, 2014

      as a business owner I am concerned about the interest rate we pay on the various cards .521% on standard credit cards and up to 2.8% premium plus and other cards Is it legal to pass that cost on and if so how does one identify the cards as there appears to be no clear identification on some cards
      cheers Alan

      Avatarfinder Customer Care
      ShirleyMay 15, 2014Staff

      Hi Alan,

      Thanks for your question.

      Usually a good place to check is the Product Disclosure Statement of the credit card, and then confirm what the interest rates are on the bank’s website. On creditcardfinder.com.au, the interest rates are listed in the blue tables under the heading ‘interest rates’.

      Cheers,
      Shirley

      Avatarfinder Customer Care
      JacobMarch 10, 2014Staff

      Hi Anne.

      It will depend on the provider. Each card issuer (Commonwealth Bank, ANZ, Westpac for instance) has slightly different rules about the cut off age for their complimentary insurance policies. If you can let me know which Platinum MasterCard you’re referring to, I can give you a little more information.

      Thanks for your question.

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