Platinum Credit Cards

Compare Platinum credit card options to enjoy premium perks including complimentary insurance, higher earn rates for rewards and a 24/7 concierge service.

Platinum credit cards offer premium benefits, higher spending limits and exclusive perks for cardholders who want to get extra value from paying on 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 cover, you can compare your platinum credit card options below. As these cards generally come with higher annual fees and interest rates, make sure to weigh up your options to ensure that the value outweighs the costs.

Sponsorship - American Express Platinum Edge Credit Card - Platinum Offer - PE-38875

Platinum Credit Card Offer

The American Express® Platinum Edge Credit Card features a bonus points offer, up to 3 Membership Rewards points per $1 spent, $200 travel credit each year and $0 annual fee for the first year.

  • $0 annual card fee for the first year ($195 p.a. thereafter).
  • 5,000 Membership Rewards Bonus Points when you apply, are approved and meet the minimum spend requirement in the first 3 months.
  • Receive $200 travel credit each year.
  • Complimentary domestic and international travel insurance.
  • New card members only. Eligibility criteria, T&Cs, fees and charges apply.

    Platinum Credit Card Comparison

    Rates last updated March 30th, 2017.

    Qantas American Express Ultimate Card

    Bonus points offer changed from 50,000 to 75,000 plus new earn rates have applied.

    March 7th, 2017

    ANZ Low Rate Platinum

    New balance transfer offer of 0% p.a. for 16 months with 2% balance transfer fee.

    March 15th, 2017

    American Express Platinum Edge Credit Card

    First year annual fee waiver, 0% balance transfer and 5,000 bonus points offers have been extended.

    March 28th, 2017

    View latest updates

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    Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Bonus Points Annual fee
    American Express Platinum Edge Credit Card
    Receive 5,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy a $200 travel credit every year and pay no annual fee for the first year.
    0 1 5,000 bonus points $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
    NAB Premium Card
    Platinum credit card benefits including higher credit limits and travel insurance, plus a low interest rate on balance transfers.
    0 0 $90 p.a. Go to site More info
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    1 0 $149 p.a. Go to site More info
    ANZ Platinum Credit Card - Exclusive Offer
    Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
    0 0 $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
    Citi Rewards Platinum Credit Card
    Enjoy a long-term balance transfer offer and earn 1.25 Citi Reward Points per $1 spent on all eligible domestic and international purchases.
    1.25 0 $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Earn 2 bonus Velocity Points in the first 3 months and a low 0% p.a. for 18 months on balance transfers. Receive a free Virgin Australia $129 Gift Voucher each year.
    0.66 0 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    Qantas American Express Ultimate Card
    Enjoy 75,000 bonus Qantas Points when you meet the spend criteria plus 75 Bonus Status Credits when you book and fly back with Qantas. Earn up to 2.5 Qantas Points per $1 spent on eligible purchases.
    1.5 75,000 bonus points $450 p.a. Go to site More info
    American Express Explorer Credit Card
    Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 3 months of card membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
    2 100,000 bonus points $395 p.a. Go to site More info
    HSBC Platinum Qantas Credit Card
    Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
    1 0 60,000 bonus points $199 p.a. Go to site More info
    ANZ Frequent Flyer Platinum
    Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months. Enjoy a waived annual fee for the first year and earn Qantas Points for spending.
    0.5 50,000 bonus points $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
    Citi Simplicity Card
    Take advantage of the 0% p.a. for 15 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cash back on retail purchases.
    0 0 $0 p.a. Go to site More info
    28 Degrees Platinum MasterCard
    Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
    $0 p.a. Go to site More info
    ANZ Low Rate Platinum
    Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
    $99 p.a. Go to site More info
    NAB Low Rate Platinum Card
    Offers a low introductory rate of 0% p.a. on balance transfers for 18 months plus enjoy premium benefits including international travel insurance.
    $100 p.a. Go to site More info
    Virgin Australia Velocity Flyer Card - 0% Interest Offer
    An interest-free period on both purchases and balance transfers.
    0.66 0 $129 p.a. Go to site More info
    ANZ Rewards Travel Adventures card
    Pay no overseas transaction fee on purchases and receive complimentary domestic return flight and lounge passes each year you hold the card when you spend $500 on eligible purchases within the first three months.
    0.5 $225 p.a. Go to site More info
    ANZ Rewards Platinum
    Enjoy accelerated points earning and great Platinum features with ANZ Rewards Platinum card. Also get the chance to receive $250 Westfield Gift Card when you spend $2,500 in the first 60 days from card approval plus a waived annual fee for the first year.
    0.5 $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
    St.George Vertigo Platinum - Online Only Balance Transfer Offer
    Enjoy a long-term balance transfer offer of 3% p.a. for 36 months when you apply online, plus complimentary insurance covers and a personal concierge service.
    0 0 $99 p.a. Go to site More info
    American Express Platinum Card
    Receive 100,000 Membership Rewards Bonus Points when you meet the minimum spend requirement and earn up to 3 points per $1 spent. Gain access to travel insurance, $300 Platinum travel credit every year and access to 1,000 VIP airport lounges.
    0 1 100,000 bonus points $1,200 p.a. Go to site More info
    Commonwealth Bank Business Platinum Awards Credit Card
    Earn up to 3 Awards points per dollar spent and enjoy a range complimentary insurances.
    1 3 $300 p.a. Go to site More info

    The Best* Platinum Credit Cards Comparison

    Compare the features of the no annual platinum credit cards below.

    Credit Card
    Feature
    American Express Explorer Credit CardGet up to 100,000 bonus points when you met the required spend. You'll also get two complimentary airline passes per year and a $400 travel voucher.
     A platinum credit card offering from HSBC that rewards you with an annual fee refund if you meet the requirements needed.
     A Platinum credit card from St.George that offers attractive signup incentives.
    This platinum credit card from Citi gives you access to the Citibank dining program.

    Why you should choose a platinum credit card

    The prestige and features of a platinum credit card can give you extra value if you spend regularly, travel frequently or use your credit card for additional perks. Platinum credit card features and benefits are a cut above those offered by classic (basic) or gold credit cards and often include:

    • Complimentary international travel insurance
    • Complimentary interstate flight inconvenience insurance
    • Transit accident insurance
    • Hire car insurance
    • Extended warranty cover
    • Purchase protection insurance
    • Best price guarantees
    • Complimentary airport lounge access
    • Higher points per $1 for reward programs
    • Higher points caps for reward programs
    • Higher credit limits

    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. 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.

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    How to compare Platinum Credit CardsbusinessmanCC copy

    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). Some of the factors you might want to include in your comparison include:

    Interest rates and fees

      • Annual fee. Platinum credit cards usually come at the price of a higher annual fee, so annual fees can range between $100 and $1,200. Some cards do offer waived or lower annual fees for a promotional period, though.
      • Purchase interest rates. While most platinum credit cards have higher interest rates of around 20%, some cards do offer a low or no interest for a promotional period.
      • Interest-free days. If you pay your balance in full, you could take advantage of up to 55 interest-free days on purchases.
      • Balance transfers. If you’re consolidating a debt, look for a platinum card that has a 0% offer on balance transfers for a promotional period. You shouldn’t use your card for spending while you’re repaying a debt, though, so this is something you’ll want to consider when comparing your options.
      • Foreign transaction fees. If you’re using your credit card overseas, you could be charged between 1% to 3% of the overall transaction amount if you’re spending in a foreign currency. If you use your card for an ATM withdrawal, you should also watch out for overseas ATM withdrawal and cash advance fees.
      • Cash advances. If you use your card for an ATM withdrawal, gambling transaction or other cash-equivalent transactions, you’ll usually be charged a higher interest rate of 20% to 22%. Find out what is considered a cash advance here.
      • Credit limit. The credit limit you’re approved for will be based on your income and credit history, but they can range from a minimum limit of around $5,000 up to $50,000 or more. Make sure that the credit limit you apply for can support your financial needs without tempting you to overspend.
      • Additional cardholders. If you’re using your card to manage your business or family spending, the option to request additional cardholders could come in handy. See how many cardholders you’re allowed and whether there is a fee involved to determine whether the card suits you.

     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 cash back, 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 Invites 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.

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    How to apply for a platinum credit card
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    You can apply for a platinum credit card 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.

    Applying for a platinum credit card online

    Once you've confirmed that you're eligible and have collected the necessary information, you can apply for a platinum credit card in the following steps:

    1. Find a platinum credit card that best suits your needs and click on the ‘Go to site’ button. This will send you to the bank’s secure application page.
    2. Read over the eligibility criteria and application terms then select ‘Apply’.
    3. Fill out the application with all of the requested information.
    4. Provide your supporting documentation when it is requested. If you don't have the necessary document or information on hand, you can pause your application to spend some time looking for it or contact the bank to see if there is any substitute information you could include. It's safer to do this than submit your application and risk being rejected.
    5. Submit your application. You should be notified of the initial outcome within a few minutes via the webpage or your email.
    6. If you receive conditional approval, follow the steps outlined by the bank to complete the application process.

    If you're approved, you can expect to receive your credit card within 5 to 10 business days.

    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.

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    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.

    Are there any low-interest rate platinum credit cards?

    Yes. Low interest rate platinum credit cards are extremely popular due to their combination of low-interest rates and platinum benefits.

    How do I cancel a platinum credit card?

    If you’ve paid the card off in full, you can cancel platinum credit cards at any time, free of charge. See our guide on how to cancel a credit card for tips on how to do so without hurting your credit score.

    What level of credit card is above platinum?

    In the premium card tier, only black credit cards are more exclusive than platinum. If you want premium perks but aren't ready to apply for a platinum credit card, you can compare gold credit cards.

    When is a platinum card not valuable?

    Platinum cards offer a wealth of extra perks and features that could make your credit card experience more rewarding. However, as these cards generally come with a higher annual fee and interest rates than most cards, you'll want to make sure you're paying your balance in full and taking advantage of all of the card's features to ensure you're getting your money's worth. If you're earning reward points, you can also calculate the dollar value of the rewards you're redeeming to determine whether or not it outweighs the card's annual fee and interest costs.

    Images: Shutterstock.

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    Read more on this topic

    ANZ Platinum Credit Card - Exclusive Offer
    ANZ Platinum Credit Card - Exclusive Offer

    Interest rate

    19.74

    Annual fee

    87
    American Express Essential®  Credit Card
    American Express Essential® Credit Card

    Interest rate

    14.99

    Annual fee

    0
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card

    Interest rate

    19.99

    Annual fee

    149

    Credit Cards Comparison

    Rates last updated March 30th, 2017
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Earn 2 Velocity Points per $1 spent and save with a reduced annual fee and a 0% p.a. balance transfer offer for 18 months.
    20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    HSBC Platinum Qantas Credit Card
    Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
    19.99% p.a. $199 p.a. Go to site More info
    NAB Low Rate Credit Card
    The NAB Low Rate Card offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
    13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $59 p.a. Go to site More info

    * 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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