From better points earn rates and airline lounge passes to higher credit limits, reward your spending with exclusive benefits with a gold, platinum or black credit card.
Platinum, Gold and Black Credit Card Offer
With a new NAB Rewards Platinum Card, get up to 110,000 Bonus Points.
- Earn 50,000 bonus points when you spend $2,500 on everyday purchases within the first 60 days of account opening.
- Get up to 60K bonus points by earning 2 points per $1 on everyday purchases in the first 6 months (10K bonus points cap/month).
- Redeem bonus points for vouchers to use at Coles, BP, Bunnings, David Jones, GoodFood, JB Hi-Fi and more.
- Receive a range of complimentary insurance covers including overseas travel insurance and a 24/7 NAB Platinum Concierge Service.
- Eligibility criteria, T&Cs, fees and charges apply.
Compare Platinum, Gold and Black credit cards
What’s the difference between platinum, gold and black credit cards?
While platinum, gold and black credit cards 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.
This means that the specific features and benefits vary based on whether a card is a gold, platinum or black option. To help put this in perspective, we’ve outlined the common features and benefits for each type of credit card.
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:
- Complimentary travel insurance
- Complimentary purchase protection insurance
- More reward points per $1 than standard cards
- Higher reward 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. You also need to have good credit history to apply for a gold credit card.
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:
Complimentary international travel insurance with broader coverage
- Complimentary purchase protection insurance
- Complimentary domestic interstate flight inconvenience insurance
- Complimentary car hire insurance
- More reward points per $1 than gold cards
- Higher reward point 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 $25,000, such as the Coles Platinum No Annual Fee Platinum Mastercard, most are around $50,000. You also have to have excellent credit history to get a platinum credit card, making them even more exclusive.
Black Credit Cards
Black credit cards are considered the ultimate in premium credit cards, with the highest 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 highest amount 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 on a daily basis. 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.
Questions to ask before choosing 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. You can do this by estimating your average monthly or yearly spending on credit and working out how many points per $1 you will earn. 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, so you will need to factor this in when considering different options.
- How many platinum, gold or black credit 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 gold, platinum or black credit 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.
Natasha chooses between a gold, platinum and black credit card
Natasha is interested in getting a premium credit card that earns Qantas points but doesn’t know whether to choose a platinum, gold or black option. To help her make a decision, Natasha decides to compare a credit card from each of these categories.
Natasha has chosen gold, platinum and black Qantas credit cards to compare
| Card | Standard purchase rate | Annual fee | Points per $1 | Points cap | Other benefits |
|---|---|---|---|---|---|
| The Commonwealth Bank Gold Awards | 20.24% p.a. | $119 p.a. | Mastercard: 1 point per $1 spent Amex: 2 points per $1 spent | 125,000 per year | -International travel insurance included with card -Purchase security insurance -Extended warranty insurance |
| The ANZ Frequent Flyer Platinum | 19.99% p.a. | $0 for the first year ($295 p.a. thereafter) | Spending up to $3,000 per statement period: 0.5 Qantas Points per $1 Spending above $3,000 per statement period: 0.75 Qantas Points per $1 spent | Different earn rate for spending above $3,000 per statement period | -International travel insurance -Interstate flight inconvenience insurance -Rental excess cover -Purchase protection coverage -Price matching service -Extended warranty |
| The ANZ Frequent Flyer Black | 19.99% p.a. | $0 for the first year ($425 p.a. thereafter) | Spending up to $7,500 per statement period: 0.5 Qantas Point per $1 spent on eligible purchases Spending above $7,500 per statement period: 1 Qantas Points per $1 | Different earn rate for spending above $7,500 per statement period | -International travel insurance -Interstate flight inconvenience insurance -Rental excess cover -Purchase protection coverage -Price matching service -Extended warranty -Two complimentary Qantas Club Lounge invitations |
With these details in mind, Natasha considers her own circumstances and spending habits:
- She regularly uses a credit card for everyday purchases.
- She spends around $5,000 per month on credit.
- Her salary is $85,000.
- She takes one overseas holiday per year.
- She aims to pay her balance in full each month.
- She has an excellent credit score.
Natasha decides she would like to have the option of earning Qantas Points per $1 with an American Express card, but doesn’t want to pay more than $300 on an annual fee. Based on her current spending, Natasha would be able to earn an average of 3,250 points per month with the ANZ Frequent Flyer Platinum, so she chooses this card out of the three options above.
Premium credit cards unlock a whole world of potential value through features such as higher credit limits, greater rewards, complimentary insurance, travel perks and more. So now that you know the differences between gold, platinum and black credit cards, you can choose the right category for your circumstances and start comparing cards to find a great option for you.
Frequently asked questions about gold, platinum and black credit cards
Are there any specific requirements for these cards?
Generally, you’ll need a positive credit history. The majority of these cards also have a minimum annual earnings requirement of around $35,000 – $70,000.
I’m interested in a gold or platinum credit card. Which one offers higher credit limits and benefits?
Platinum credit cards have higher status than gold credit cards. This is reflected in the credit limits, annual fee, reward points earn rates and additional features such as complimentary travel insurance and 24/7 concierge services.
When will I know if I’m approved for a platinum, gold or black credit card?
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.
My credit card now caps the amount of frequent flyer points I can earn per month. Are there gold, platinum or black options I can choose to avoid this?
While some gold and platinum credit cards do have point caps, they tend to be higher than the caps on standard credit cards. Most black credit cards, on the other hand, offer uncapped points. You can also find a list of cards that don’t cap rewards points on this page.
how to obtain a balance statement of current month
When will i know when i get it
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
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
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
Thanks but this is not what I asked.
I am looking for REWARDS credit cards with no foreign transaction fees. Thank you
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
Hey I would like to see if I can get a credit card with you please.
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
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 .
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
I don’t work iv bad credit at the moment so can you help me be accepted for credit card
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
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.
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
Is insurance free for Platinum card Mastercard holders if paid for by that card for travellers of 81 years of age
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
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
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.
How do I sign up for frequent flyer points with my NAB credit card?
Hi David.
Thanks for getting in touch with us.
NAB currently have two products that allow you to earn frequent flyer points. And both of these cards come with complimentary Qantas Frequent Flyer Membership if you don’t already have one. If you already had a Qantas Frequent Flyer membership, you should have been prompted to link your card and your membership when you applied for the card. You can do this now by calling NAB directly.
I hope this helps.
How do I change my email address for my MasterCard moments?
Hi Kenneth, thanks for your question.
MasterCard does not issue any credit cards, so you will need to contact the card issuing institution to get them to change your email address.
Jacob.
Which one is higher in quality and benefits between the platinum credit card and the gold credit card
Hi Timi. Generally speaking Platinum Credit Cards are have a higher status than Gold Credit Cards. This is reflected in the annual fee, the rewards points earning, and additional features like complimentary international travel insurance and airport lounge access. Let me know if there’s anything else you would like help with. Jacob.
Hi, I’m a citibank platinum card holder for a number of years but i never have the chance to access to the lounge areas in airports or sometimes i don’t get priority boarding and other amenities and also how would i access to upgrading. how would i be able to have these perks? thanks
Hello,
Unfortunately, the Citibank Platinum card doesn’t offer complimentary airline lounge access.
You can compare cards that offer these perks here.
Cheers,
Sally