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 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. As these cards generally come with higher annual fees and interest rates, make sure to evaluate your options to ensure that the value outweighs the costs.

HSBC Platinum Credit Card

0% p.a. for 22 months
on balance transfers
with a one-time 2% balance transfer fee

Offer ends 30 June 2018

Eligibility criteria, terms and conditions, fees and charges apply

Platinum Credit Card Offer

The HSBC Platinum Credit Card features a long-term balance transfer promotion, two yearly airport lounge passes and an annual fee refund each year you meet the spend requirement.

  • 0% p.a. on balance transfers for 22 months with a one-time 2% BT fee. Reverts to the cash advance rate (currently 21.99% p.a.)
  • Receive a complimentary LoungeKey membership with 2 airport lounge passes per year.
  • The $129 annual fee will be refunded each year when you spend $6,000 on eligible purchases.
  • Get a range of platinum features including complimentary overseas and domestic travel insurance and a 24/7 concierge service.
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Platinum Credit Card Comparison

Rates last updated December 12th, 2017
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
HSBC Platinum Credit Card
HSBC Rewards Plus
1
19.99% p.a.
$129 p.a.
Take advantage of a 0% p.a. for 22 months on balance transfers offer with a 2% balance transfer fee.
NAB Premium Card
19.74% p.a.
$90 p.a.
Platinum credit card benefits including higher credit limits and travel insurance, plus a low interest rate on balance transfers.
NAB Premium Card - Exclusive Offer
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
Woolworths Everyday Platinum Credit Card
Woolworths Rewards
1
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
60,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.
Citi Platinum Credit Card - 100k Bonus Points
100,000 bonus points
Citi Rewards Program
1
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
ANZ Low Rate Platinum
11.49% p.a.
$99 p.a.
Get $250 back to your new ANZ Low Rate Platinum when you spend $500 on eligible purchases within the first 60 days from card approval.
Bankwest Breeze Platinum Mastercard
12.99% p.a.
$99 p.a.
Receive a 0% p.a. interest rate on balance transfers for 24 months, complimentary travel insurance and 0% foreign transaction fees.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with 0% p.a. for 18 months on balance transfers, earn 3 bonus Velocity Points per $1 for the first 3 months and get a yearly $129 Gift Voucher.
Citi Rewards Platinum Credit Card
Citi Rewards Program
1
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Enjoy a long-term balance transfer offer of 0% p.a. for 24 months with a 1.5% balance transfer fee.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, get 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Ends 17 December 2017.
HSBC Platinum Qantas Credit Card
60,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$199 p.a.
Enjoy complimentary membership to the Qantas Frequent Flyer program and international travel insurance.
NAB Rewards Platinum Card
60,000 bonus points
NAB Rewards
1
19.99% p.a.
$195 p.a.
Earn 60,000 bonus points when the minimum required spend is met and enjoy 0% p.a. on balance transfers for 6 months.
Qantas American Express Premium Card
30,000 bonus points
Qantas Frequent Flyer
1.25
20.74% p.a.
$249 p.a.
Enjoy 30,000 bonus Qantas Points, 2 complimentary Qantas Club lounge invitations per year and the protection of complimentary insurance covers.
ANZ Frequent Flyer Platinum
65,000 bonus points
Qantas Frequent Flyer
0.75
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Receive a complimentary Qantas Frequent Flyer membership and a range of included insurance covers.
American Express Explorer Credit Card
50,000 bonus points
Membership Rewards Gateway
2
20.74% p.a.
$395 p.a.
Receive a yearly $400 Travel Credit, 50,000 bonus points and up to 2 entries per year to the American Express Lounge at Sydney International Airport.
Citi Simplicity Card
19.99% p.a.
$0 p.a.
Earn 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from card approval. Plus, a 15 month balance transfer offer.
CUA Platinum Credit Card
CUA Life Rich Rewards Program
1
19.99% p.a.
$0 p.a. annual fee for the first year ($149 p.a. thereafter)
Collect 1 CUA Rich Life Rewards point per $1 spent, receive complimentary travel insurance, a $0 first year annual fee and a balance transfer offer.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Velocity Frequent Flyer
0.66
0% p.a. for 14 months (reverts to 20.74% p.a.)
$129 p.a.
Save with 0% p.a. on purchases for 14 months and 0% p.a. on balance transfers for 6 months. Plus, earn up to 0.66 Velocity Points per $1 spent.
BankSA Vertigo Platinum
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
NAB Low Rate Platinum Card
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
Take advantage of 0% p.a. for 9 months on purchases. Plus, the protection of 7 complimentary insurances.
ANZ Rewards Platinum
65,000 bonus points
ANZ Rewards Program
1.5
18.79% p.a.
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
Enjoy accelerated points earning and great platinum features including complimentary travel insurance and purchase protection.
ANZ Rewards Travel Adventures card
40,000 bonus points
ANZ Rewards Program
1.5
20.24% p.a.
$225 p.a.
No overseas transaction fee on purchases, plus a complimentary domestic return flight each year when you meet the eligibility criteria.
Westpac 55 Day Platinum Credit Card
19.84% p.a.
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Take advantage of a 0% p.a. for 20 months on balance transfers offer, plus up to 55 days interest-free on purchases.
NAB Velocity Rewards Premium Card
Velocity Frequent Flyer
0.66
19.99% p.a.
$150 p.a.
Enjoy complimentary insurance covers plus 4.99% p.a. on balance transfers for 6 months.
Bankwest More Platinum Mastercard
75,000 bonus points
Bankwest More Rewards Program
2
19.99% p.a.
$160 p.a.
Zero foreign transaction fee rewards card with a 6 months offer on balance transfer and bonus reward points.
Bank of Melbourne Amplify Platinum
60,000 bonus points
Amplify Rewards
1
19.49% p.a.
$99 p.a.
Receive 60,000 bonus Amplify or Qantas Points when you spend $3,000 within 90 days and earn up to 1.00 Amplify point per $1 spent.
NAB Qantas Rewards Premium Card
25,000 bonus points
Qantas Frequent Flyer
0.66
19.99% p.a.
$250 p.a.
Earn Qantas Points for your spending combined with complimentary overseas travel insurance and a balance transfer of 4.99% p.a. for 6 months.
Commonwealth Bank Business Awards Platinum Credit Card
Commonwealth Bank Awards Program
0.5
1
20.74% p.a.
$300 p.a.
Extend your cashflow with up to 55 days interest-free on purchases, plus choose to earn Qantas Frequent Flyer points.
David Jones American Express Platinum Card - Qantas Frequent Flyer
30,000 bonus points
Qantas Frequent Flyer
0.75
20.74% p.a.
$295 p.a.
Fly faster with up to 3 Qantas Points per $1 spent and receive complimentary travel insurance when travel is booked on your card.

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The Best* Platinum Credit Cards Comparison

Compare the features of the platinum credit cards below.

Credit Card
Feature
American Express Explorer Credit CardGet up to 50,000 bonus points when you meet the spend requirement. You'll also get two complimentary airline passes per year and a $400 travel credit.
A platinum credit card offering from HSBC that rewards you with an annual fee refund if you meet the necessary requirements.
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 should you 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 standard 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 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.

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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 consider 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.
    • 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, 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 transaction, 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 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 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.

Images: Shutterstock.

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Read more on this topic

NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99
Woolworths Everyday Platinum Credit Card
Woolworths Everyday Platinum Credit Card

Interest rate

19.99

Annual fee

49
Virgin Money Low Rate Credit Card
Virgin Money Low Rate Credit Card

Interest rate

11.99

Annual fee

49

Credit Cards Comparison

Rates last updated December 12th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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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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