Platinum, Gold and Black Credit Cards Comparison

From better points earn rates and airline lounge passes to higher credit limits, reward your spending with exclusive benefits 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 a range of 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.

However, along with these perks and prestige, platinum, gold and black credit cards often have annual fees and interest rates that are higher than standard options. Here, we look at both the benefits and costs of these three premium choices so that you can find a card that’s right for you.

HSBC Credit Card Offer

HSBC Platinum Credit Card - Balance Transfer Offer

0% p.a. for 22 months on balance transfers

Offer ends 31 March 2020

Eligibility criteria, terms and conditions, fees and charges apply

HSBC Credit Card Offer

A platinum card offering 0% interest on balance transfers for 22 months with no balance transfer fee. Plus, an annual fee refund each year when you spend $6,000 on eligible purchases

  • Annual fee: $129 | Purchase interest rate: 19.99% p.a.
  • Complimentary travel insurance and 2 lounge passes per year
  • Earn 1 HSBC Rewards Point per $1 spent in Australia and 2 overseas
  • Foreign transaction fee: 3% of transaction value | Cash advance rate: 21.99% p.a.
  • Minimum income requirement of $40,000
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Compare Platinum, Gold and Black credit cards

Updated February 19th, 2020
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
HSBC Rewards Plus
Visa/MC
1
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
St.George Amplify Platinum - Qantas - Online Offer
60,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and a 0% balance transfer for 22 months.
St.George Vertigo Platinum
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features an introductory 0% p.a. purchase rate, $49 first year annual fee and complimentary travel insurance covers.
HSBC Platinum Qantas Credit Card
Qantas Frequent Flyer
Visa/MC
1
19.99% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
Bankwest Breeze Platinum Mastercard
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Get 0% interest on balance transfers for 26 months (with a 2% fee), complimentary travel insurance and no foreign transaction fees.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Velocity Frequent Flyer
Visa/MC
0.66
0% for 14 months, reverts to 20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent. Ends 24 Feb 2020.
BankSA Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn up to 0.5 Qantas Points per $1 spent.
Bank of Melbourne Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn up to 0.5 Qantas Points per $1 spent.
American Express Qantas Business Rewards Card
150,000 bonus points
Qantas Business Rewards
Amex
1.25
N/A
$450 p.a.
ABN holders w/ $75,000 revenue. Get 150,000 bonus Qantas Points, 3x points on eligible Qantas flights and 2 lounge passes each year.
American Express Westpac Altitude Platinum Bundle - Velocity
75,000 bonus points
Velocity Frequent Flyer
Amex
1
Visa/MC
0.5
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$200 p.a. annual fee for the first year ($249 p.a. thereafter)
Earn up to 75,000 bonus Velocity Points when you meet the criteria with this dual Mastercard (issued by Westpac) & Amex (issued by Amex).
Westpac Altitude Platinum Velocity - Online Offer
40,000 bonus points
Velocity Frequent Flyer
Visa/MC
0.5
20.49% p.a.
$200 p.a.
Receive 40,000 bonus Velocity Points when you spend $2,000 within 90 days. Plus, a 0% p.a. balance transfer and yearly upgrade vouchers.
Bank of Melbourne Amplify Platinum
Amplify Rewards
Visa/MC
1
19.74% p.a.
$99 p.a.
Get $400 e-gift gard when you spend $3,000 on eligible purchases within the first 90 days. Plus, complimentary travel insurance.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
Amex
1.25
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
Westpac Altitude Platinum Qantas - Online Offer
40,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.5
20.49% p.a.
$200 p.a.
Get 40,000 bonus Qantas Points when you spend $2,000 within 90 days of approval. Plus, a 0% balance transfer and complimentary insurance.
David Jones American Express Platinum Card
30,000 bonus points
Qantas Frequent Flyer
Membership Rewards
Amex
1
20.74% p.a.
$295 p.a.
DJ's shoppers and Qantas travellers earn 30,000 bonus Membership Rewards Points or 15,000 Qantas Points on eligible spend.
American Express Westpac Altitude Platinum Bundle
110,000 bonus points
Westpac Altitude Rewards
Amex
2
Visa/MC
1
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$150 p.a. annual fee for the first year ($199 p.a. thereafter)
Collect up to 110,000 bonus Altitude Points when you meet T&Cs with Mastercard (issued by Westpac) & Amex (issued by Amex).
St.George Amplify Signature
200,000 bonus points
Amplify Rewards
Visa/MC
1.5
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Up to 200,000 bonus Amplify Points (130k in the first year & 70k in the second year) when you spend $12k/year for the first 2 years.
American Express Platinum Card
80,000 bonus points
Membership Rewards Ascent Premium
Amex
2.25
N/A
$1,450 p.a.
Receive 80,000 bonus Membership Rewards Points, a $450 annual Platinum Travel Credit, dedicated personal service and luxury travel perks.
American Express Westpac Altitude Platinum Bundle - Qantas
75,000 bonus points
Qantas Frequent Flyer
Amex
1
Visa/MC
0.5
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$200 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Mastercard (issued by Westpac) & Amex (issued by Amex).
American Express Explorer Credit Card
50,000 bonus points
Membership Rewards
Amex
2
20.74% p.a.
$395 p.a.
Get 50,000 bonus points when you spend $3,000 in the first 3 months, a yearly $400 Travel Credit and 2 entries per year to the Amex Lounge.
St.George Amplify Platinum - Online Offer
100,000 bonus points
Amplify Rewards
Visa/MC
1
19.74% p.a.
$99 p.a.
Get 100,000 bonus Amplify Points when you spend $2,000 in the first 90 days. Plus, a balance transfer offer of 0% interest for 22 months.
American Express Platinum Edge Credit Card
Membership Rewards Ascent
Amex
1
20.74% p.a.
$195 p.a.
Receive a yearly $200 Travel Credit and complimentary domestic and international travel insurance, plus 0% p.a. for 12 months on balance transfers.
BankSA Amplify Platinum
Amplify Rewards
Visa/MC
1
19.74% p.a.
$99 p.a.
Get $400 e-gift card when you spend $3,000 on eligible purchases within the first 90 days. Plus, complimentary travel insurance.

Compare up to 4 providers

Updated February 19th, 2020
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
American Express Westpac Altitude Black Bundle
190,000 bonus points
Westpac Altitude Rewards
Amex
3
Visa/MC
1.25
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$349 p.a. annual fee for the first year ($449 p.a. thereafter)
Up to 190,000 bonus Altitude Points with Mastercard (issued by Westpac) & Amex (issued & serviced by Amex). T&Cs apply.
Qantas American Express Ultimate Card
100,000 bonus points
Qantas Frequent Flyer
Amex
1.25
20.74% p.a.
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations.
Westpac Altitude Black
150,000 bonus points
Westpac Altitude Rewards
Visa/MC
1.25
20.49% p.a.
$250 p.a.
Earn 150,000 bonus Altitude Points when you meet the spend requirement. Plus, 2 yearly Priority Pass lounge invitations.
Westpac Altitude Black - Velocity
80,000 bonus points
Velocity Frequent Flyer
Visa/MC
0.75
20.49% p.a.
$300 p.a.
Earn 80,000 bonus Velocity Points when you meet the spend requirement. Plus, complimentary seat upgrades and lounge passes.

Compare up to 4 providers

Updated February 19th, 2020
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
American Express Gold Business Card
Membership Rewards Ascent
Amex
1.5
N/A
$169 p.a.
ABN holders w/ $75,000 revenue. A business card with no pre-set spending limit, data feeds to MYOB and up to 51 days to pay for purchases.

Compare up to 4 providers

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:

Features of a Gold credit card

  • Complimentary travel insurance
  • Complimentary purchase protection insurance
  • More reward points per $1 than standard cards
  • Higher point caps than standard cards
  • Annual fees ranging from $89 to $169
  • Minimum credit limits starting from $4,000

Gold credit cards have slightly higher income and credit history requirements than standard cards – but not as high as those of platinum or black cards. For example, the Suncorp Clear Options Gold credit card has a minimum income requirement of $30,000, while some standard cards have credit limits as low as $15,000.

Platinum credit cards

Platinum credit cards build on the benefits offered by gold credit cards by providing a wider range of features and more flexibility. They are designed for people who regularly pay with plastic, and want to be rewarded for it in a range of ways. In comparison to gold options, platinum cards may include:

The features you can expect from a Platinum credit card

  • Complimentary international travel insurance with broader 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
  • Minimum credit limits from $10,000
  • Annual fees 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.

The minimum income requirements for platinum credit cards also tend to be higher in comparison to gold cards. While some platinum options have minimum income requirements as low as $30,000, such as the Westpac Low Fee Platinum card, most are around $50,000.

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 perks and 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
guy using gold 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, such as the St.George Vertigo Platinum or Bankwest Breeze Platinum Mastercard.
  • 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

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41 Responses

  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. Default Gravatar
    glendaMarch 25, 2015

    My credit card now caps the frequent flyer points earned per month. I am looking for a card that does not cap the number of points earned per month. Can you advise .

    • Avatarfinder Customer Care
      ElizabethMarch 25, 2015Staff

      Hi Glenda,

      Thanks for your question.

      You can find a list of card that don’t cap rewards points on this page. Also, we have a list of cards that offer no points capping and no points expiry on this page.

      I hope this has helped.

      Thanks,

      Elizabeth

  9. 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

  10. 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

Credit Cards Comparison

Updated February 19th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
St.George Vertigo Classic
13.99% p.a.
0% p.a. for 18 months
$55 p.a.
Get 0% interest for up to 18 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90k when you spend $3,000 on eligible purchases in the first 60 days and 30k after 12 months.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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