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.

Platinum Credit Card Comparison

Rates last updated October 17th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
0
0
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
HSBC Platinum Credit Card
1
0
19.99% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 22 months on balance transfers offer with a 2% balance transfer fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
60,000 bonus points
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.
NAB Rewards Platinum Card
60,000 bonus points
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.
Citi Platinum Credit Card - 100k Bonus Points
100,000 bonus points
1
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
Bankwest Breeze Platinum Mastercard
0
0
0% p.a. for 13 months (reverts to 12.99% p.a.)
$99 p.a.
Receive complimentary international travel insurance, extended warranty cover and 0% foreign transaction fees.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0.66
20.74% p.a.
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
Citi Rewards Platinum Credit Card
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
0
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, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
HSBC Platinum Qantas Credit Card
60,000 bonus points
1
19.99% p.a.
$199 p.a.
Enjoy complimentary membership to the Qantas Frequent Flyer program and international travel insurance.
Qantas American Express Premium Card
30,000 bonus points
1.25
20.74% p.a.
$249 p.a.
Enjoy two complimentary Qantas Club lounge invitations per year, plus the protection of complimentary travel and purchase insurance.
St.George Vertigo Platinum
0
0
12.74% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 24 months on balance transfers offer with 2% balance transfer fee.
ANZ Frequent Flyer Platinum
50,000 bonus points
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
2
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Citi Simplicity Card
0
0
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.
Bendigo Bank Platinum Rewards Mastercard
1.5
19.99% p.a.
$89 p.a.
Get rewarded for every $1 spent on eligible purchases and balance transfers. Plus, enjoy a range of premium benefits.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
1.25
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Exclusive to finder.com.au, take advantage of 0% p.a. for 18 months on balance transfers and a discounted annual fee in the first year.
BankSA Vertigo Platinum
0
0
12.74% p.a.
$99 p.a.
Take advantage of purchase protection, extended warranty and overseas travel insurance, plus a 24/7 concierge.
ANZ Low Rate Platinum
11.49% p.a.
$99 p.a.
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
NAB Low Rate Platinum Card
13.99% p.a.
$100 p.a.
Take advantage of a 0% p.a. for 16 months on balance transfers and the protection of 7 complimentary insurances.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0.66
0% p.a. for 12 months (reverts to 20.74% p.a.)
$129 p.a.
Save with 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
ANZ Rewards Platinum
50,000 bonus points
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.
Westpac 55 Day Platinum Credit Card
0
0
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 18 months on balance transfers offer, plus up to 55 days interest-free on purchases.
NAB Velocity Rewards Premium Card
0.5
1
19.99% p.a.
$150 p.a.
Enjoy complimentary insurance covers plus 0% p.a. on balance transfers for 6 months.
Bankwest More Platinum Mastercard
75,000 bonus points
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
40,000 bonus points
1
19.49% p.a.
$99 p.a.
Earn 1 Amplify Rewards Point per $1 spent and receive complimentary travel insurance and purchase protection.
NAB Qantas Rewards Premium Card
25,000 bonus points
0.5
1
19.99% p.a.
$250 p.a.
A dual Amex and Visa card that earns up to 1 Qantas Point per $1 spent on eligible purchases, plus a 24/7 personal concierge.
David Jones American Express Platinum Card - Qantas Frequent Flyer
30,000 bonus points
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.
Commonwealth Bank Business Awards Platinum Credit Card
1
0.5
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.

Compare up to 4 providers

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.

Back to top

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.

Back to top

How to apply for a platinum credit card
girlprepsdocuemnts

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.

Back to top

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.

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

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.

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.

Back to top

Read more on this topic

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

Interest rate

19.74

Annual fee

90
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99

Credit Cards Comparison

Rates last updated October 17th, 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 24 months
$90 p.a.
Exclusive to finder.com.au and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.

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.

Ask a question