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Platinum Credit Cards

Enjoy premium perks including complimentary insurance, more reward points and 24/7 concierge services with a platinum credit card.

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Woman holding up platinum cc

Platinum credit cards offer premium benefits, higher spending limits and exclusive perks for cardholders who want to get extra value from paying with plastic. Traditionally aimed at big spenders and high-income earners, you'll usually need to meet stricter eligibility requirements to apply for one of these cards.

If you're looking to earn more rewards per $1 spent on your credit card, take advantage of VIP benefits such as airline lounge access and concierge services, shop with a higher credit limit and enjoy complimentary insurance covers, you can compare your platinum credit card options below.

HSBC Credit Card Offer

HSBC Platinum Credit Card - Balance Transfer Offer

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

Offer ends 30 June 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% | Cash advance rate: 21.99% p.a.
  • Minimum income requirement of $40,000
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Compare platinum credit cards

Updated April 10th, 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.
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. Ends 14 Apr 2020.
Qantas Premier Platinum
100,000 bonus points
Qantas Frequent Flyer
Visa/MC
1
19.99% p.a.
$299 p.a.
Get up to 100,000 bonus Qantas Points, a 0% p.a. balance transfer rate for the first 18 months and complimentary lounge passes.
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.
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 Qantas Business Rewards Card
140,000 bonus points
Qantas Business Rewards
Amex
1.25
N/A
$450 p.a.
ABN holders w/ $75,000 revenue. Get up to 140,000 bonus points, 3x points on eligible Qantas flights & 2 lounge passes per year.
ANZ Platinum Credit Card
20.24% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
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 earn up to 3 Membership Rewards Points per $1 spent.
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.
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The Best* Platinum Credit Cards Comparison

Compare the features of the platinum credit cards below:

Credit Card
Feature
Qantas American Express UltimateGet 100,000 bonus Qantas points when you meet the spend requirement. You'll also get two complimentary lounge passes and a $450 Qantas travel credit every year.
This HSBC Platinum credit card rewards you with points, airline lounge passes and interest-free days.
A platinum credit card from St.George with a purchase rate offer, annual fee discount and complimentary insurance covers.
Offers 0% on balance transfers for 26 months (with a one-time 1.5% balance transfer fee) and a discounted $49 first year annual fee.

Why should you choose a platinum credit card?

The features of a platinum credit card can give you extra value if you spend regularly, travel frequently or use your credit card's additional services. Platinum credit card features and benefits are a cut above those offered by standard or gold credit cards and often include:

  • Higher points per $1 for reward programs
  • Higher points caps for reward programs
  • Complimentary travel and purchase insurances
  • Personal concierge service
  • Best price guarantees
  • Complimentary airport lounge access

While some standard and gold credit cards also offer extras such as complimentary insurance, it’s important to note that platinum credit card complimentary insurance usually offers greater coverage with lower excesses and is more likely to cover companions or family members.

There are also several platinum credit cards that offer no foreign transaction fee, such as the Bankwest Zero Platinum Mastercard. If you use your card for purchases overseas or regularly shop with foreign online merchants, a platinum card with 0% currency conversion fees could help cut costs.

How to compare platinum credit cards

Almost every credit card issuer offers a platinum product, which makes comparing credit cards to ensure they suit your lifestyle even more important. A good place to start is by looking at the features that are similar across all credit cards (such as purchase interest rates), and the features that are different (including promotional interest rates or specific complimentary extras). Apart from the standard rates and fees, some of the factors you might want to consider in your comparison include:

Extra features

  • Rewards points. Some credit cards come with reward or frequent flyer programs, allowing you to earn reward points for every dollar you spend on eligible purchases. Some platinum cards offer up to 2 reward points per $1 spent, which you can then redeem for cashback, gift cards or products from the online store. If you opt for a frequent flyer credit card, your points will automatically go to your Qantas or Velocity account, which you can then redeem for flight rewards. Some platinum credit cards also offer bonus points, which could be a good way to boost your balance. Some cards may come with capped points or expiration terms and conditions, so make sure you’re aware of these to get the most out of your points.
  • Complimentary insurance. Most platinum credit cards offer complimentary travel insurance that will cover medical and hospital expenses, loss or damage to personal property, cancellation of travel arrangements and inconvenience cover while you’re overseas. This cover usually extends to partners and family members travelling with you, but you might need to make a purchase on the card (such as $500 of your prepaid travel costs) to activate the insurance. Some platinum cards also include additional insurances such as purchase protection and extended warranty. Find out more about credit cards with included insurance.
  • Concierge services. Some platinum cards offer a 24/7 concierge service that can help you with anything from travel bookings and restaurant reservations to sending a gift or securing concert tickets.
  • Airline lounge passes. Some platinum credit cards offer the added luxury of airport lounge access when you travel. Depending on the lounge, these usually offer complimentary food and beverages, free Wi-Fi and shower facilities, letting you wait for your flight in style. You can compare credit cards with airline lounge passes for more options.
  • Entertainment experiences. Depending on the card network you’re with, you could take advantage of presale concert tickets, exclusive competitions, discount ticket prices and more with Visa Entertainment, American Express Experiences and Mastercard Priceless Cities.

With all of these factors in mind, make sure that you consider whether the features suit your lifestyle, if the credit limit suits your finances and how much you spend (and repay) each month to determine whether you'll get full value from the card.

How to apply for a platinum credit card

If you see a platinum credit card that you like on finder, you can apply online by clicking the 'Go to site' button, but you'll need to make sure you meet the following eligibility requirements and necessary documents.

Eligibility requirements

  • Age. Applicants must be at least 18 years of age.
  • Credit history. Platinum credit cards are designed for people with good or excellent credit history.
  • Annual income. You must have a regular source of income. Platinum credit cards also have higher minimum income requirements, starting from $30,000 p.a. but usually closer to $50,000 p.a. or more.
  • Employment. Full-time employment is preferred. If you are self-employed, retired or on a pension and can provide proof of regular income, then you may also be eligible to apply.

Necessary documents

  • Proof of identity. You'll need to provide a copy of your passport, Medicare card and/or your driver's licence to prove your identity.
  • Employment information. You'll need to provide proof of your employment with two recent payslips, your most recent tax statement or a letter from your employer. You'll also be asked to provide the details of your employer or, if you're self-employed, your accountant.

From higher credit limits and more reward points to complimentary insurance, concierge services and travel perks, platinum credit cards have both premium features and status that lift them up above other options. So if you want your credit card to do more for you than just the basics, check out the wide range of platinum credit cards and use your knowledge of them to find an option that is right for you.

Frequently asked questions about platinum credit cards

Here are some of the most frequently asked questions about platinum credit cards from our users. If you still have a question please leave a comment in the box below.

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Credit Cards Comparison

Updated April 10th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
Coles No Annual Fee Mastercard
19.99% p.a.
0% p.a. for 18 months with 1.5% balance transfer fee
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
Qantas American Express Ultimate Card
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. Ends 14 Apr 2020.
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.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.
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* 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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