American Express Platinum Edge Credit Card - DISCONTINUED

50,000 Bonus Points Offer
- Yearly $200 travel credit
- Up to 3 points per $1 spent
- $195 annual fee | 20.74% p.a. interest rate
American Express Platinum Edge Credit Card - DISCONTINUED
50,000 Bonus Points Offer
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
The most competitive 0% p.a. credit card offers of 2020.
Not sure what type of card is right for you? Take our quick quiz.
Get an instant answer on your credit card application.
Get your credit score and report for free through Finder.
Input your current credit card balance and interest rate to calculate your potential savings.
Find out moreStraight to your inbox
Rewards credit cards are a great way to rack up bank rewards, frequent flyer points or cashback as you spend. If you choose a rewards card that best fits with how you spend money – and use it wisely – it can give you a way to get "something for nothing" on purchases you were going to make anyway. In this guide, you can compare a range of rewards credit cards and weigh up your options.
When you get a new credit card, you can usually take advantage of sign-up offers for bonus points when you spend a certain amount. These can give you a huge head start on building your rewards balance. Don't forget to check that when comparing cards.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
*The credit card offers on this page are chosen from a range of credit cards available to us and are not representative of all the products available in the market. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
A rewards credit card earns points for every $1 you spend on purchases in Australia and overseas (including online). The points are credited to your account or a linked loyalty program, where you can redeem them for rewards. What you'll get for your points can range from flights and hotels to gift cards, cashback and retail items.
These rewards can help you get more value from your spending. But rewards credit cards typically charge higher interest rates and annual fees than other types of cards. So you'll get more bang for your buck if you pay your balance in full each statement period (to avoid interest) and if you can earn enough points to outweigh the annual fee.
There are four main reward categories: frequent flyer points, bank rewards points, cashback and retail rewards and supermarket cards. You'll find more details on each of these options below.
If you're a member of a frequent flyer program, you can use a credit card to earn more points or miles for your existing frequent flyer account. There are two ways you can earn frequent flyer points with a rewards credit card in Australia:
As well as partnerships with frequent flyer programs, many credit card reward programs let you use points for flights, travel upgrades, accommodation, car hire and travel experiences without needing to transfer them first. This can be handy if you want the option of travel rewards but don't want to limit yourself to earning points through a particular frequent flyer program.
Many credit card companies in Australia have their own rewards programs that give you a mix of ways to use points, with rewards such as travel, merchandise, gift cards, credit on your account or point transfers to frequent flyer and other loyalty programs. The credit card rewards programs you can choose from include the following:
Some reward credit cards give you a way to use points instantly when you're shopping with a partnered retailer. For example, if you have a CommBank Awards credit card, you can redeem your points in-store at Myer or Flight Centre. Or, if you have an American Express Membership Rewards card, you can shop with points at Ticketmaster and David Jones (including online).
These credit cards give you a way to get cash rewards for your spending, either in the form of credit back on your account or vouchers you can spend. Some cashback credit cards give you a set percentage of your regular spending as cash back on your account, while other cards come with introductory offers that provide a one-time account credit or voucher when you meet the spend requirements.
You can also get cashback in the form of gift cards when you have a rewards or frequent flyer credit card that offers different ways to use your points. Just look for the "cash" or "gift cards" category of your rewards program to see what options are available.
These rewards credit cards offer you points, discounts and other perks when you shop with a particular supermarket or major retailer, such as Coles, Woolworths, Myer, Kogan or David Jones. But you can still use them for spending at other shops and businesses (just like any other credit card). The following table gives you some examples of how these programs work.
Retailer | Credit cards | Rewards |
---|---|---|
![]() | David Jones American Express & David Jones American Express Platinum Card | Earn American Express Membership Rewards or Qantas Points for purchases in David Jones and everywhere else. You can also enjoy exclusive shopping benefits at David Jones, such as complimentary delivery and interest-free plans for eligible purchases. The platinum card also offers complimentary travel insurance and airport lounge access. |
![]() | Coles No Annual Fee & Coles Rewards Mastercard | Earn Flybuys points at Coles Supermarkets and everywhere else. The credit cards also include your Flybuys membership barcode on the back, so you won't have to pull out your Flybuys card when you're shopping at Coles or another Flybuys partner. Other benefits include mobile payment compatibility and complimentary purchase insurance. |
![]() | Woolworths Everyday Platinum | Earn points on your credit card spending, which are then converted to Woolworths Shopping Cards every four months. Other benefits include 10% off your shop at Woolworths once per month and details for your Everyday Rewards membership on the back of the card. |
![]() | Kogan Money Black Card | Earns Kogan rewards points per $1 spent, which you can use to pay for Kogan.com purchases or for payments to your card. Another benefit is complimentary Kogan First Membership (usually $99), which gives you access to membership deals, free delivery on selected purchases and other perks. |
If you often shop with a particular store or brand, you can learn more about credit cards linked with shopping loyalty programs in Finder's guide to retail rewards credit cards.
With so many rewards credit cards to choose from, it's wise to think about how you would use one, what rewards you'd get the most value from and your overall financial situation. Then you can weigh up the other benefits, costs and features to help you find the right rewards card for you.
From earning points to the rewards you want to redeem, here are some of the questions and factors to think about when you're comparing rewards credit cards:
As different gift cards can have different point redemption values, we have focused on digital gift cards from popular retail brands and options including WISH (Woolworths Group), Coles, Myer and David Jones. We have also included the amount you'd need to spend in order to earn those points, based on common earn rates of 0.5 points per $1 and 1 point per $1. Finally, we've included the range of annual fees for personal credit cards associated with each program.
Rewards program | Points needed for $100 gift card | Popular card and ongoing annual fee | Spend required for $100 gift card |
---|---|---|---|
American Express Membership Rewards | 20,000 | Explorer: $395 | 2 points per $1: $10,000 |
ANZ Rewards Program | 22,225 | Rewards Platinum: $95 | 1.5 points per $1: $14,817 |
Bankwest More Rewards Program | 40,000 | More Platinum: $160 | 2 points per $1: $20,000 |
Bendigo Bank Rewards | 37,040 | Platinum Rewards: $89 | 1.5 points per $1: $24,694 |
BOQ Q Rewards | 35,800 | Platinum Visa: $129 | 2 points per $1: $17,900 |
Citi Rewards Program | 22,300 | Rewards Card: $199 | 1 point per $1: $22,300 |
CommBank Awards | 21,000 | Platinum Awards: $249 | 1 point per $1: $21,000 |
Flybuys Rewards | 20,000 | Coles Rewards Mastercard: $99 | 2 points per $1: $10,000 |
HSBC Rewards Plus | 24,000 | Platinum: $129 | 1 point per $1: $24,000 |
Qantas Frequent Flyer | From 17,360 | Qantas Premier Platinum: $299 | 1 point per $1: $17,360 |
Suncorp Bank Rewards | 22,300 | Clear Options Platinum: $129 | 1.25 points per $1: $17,840 |
Velocity Rewards | 19,499 | Virgin Australia Velocity Flyer: $129 | 0.66 points per $1: $29,249 |
Westpac Altitude Rewards | From 21,000 | Altitude Platinum: $150 | 1 point per $1: $21,000 |
Everyday Rewards | 20,000 | Everyday Platinum: $49 | 1 point per $1: $20,000 |
Rates and fees correct as of March 2020.
Based on this table, we can see that the minimum spend required for a $100 gift card or equivalent is $10,000 with American Express Membership Rewards or Flybuys where your credit card offers 2 points per $1 spent. In comparison, the maximum spend required for a $100 gift card would be $29,249 with a Virgin Money credit card that earns 0.66 points per $1 spent. While this doesn't factor in any sign-up bonus points or tiered earn rates, you should make sure you'll get enough value from the card on an ongoing basis before you apply.
The American Express Platinum Edge sports an annual fee of $195. To make this card worth it, you'd have to take advantage of enough of the card's perks and features to outweigh this $195 fee in value. Here are a few ways you could create that value.
Perk | Value | Notes |
---|---|---|
Annual Travel Credit | $200 | Must book through Amex Travel |
Total | $200 | Total value of perks excluding rewards and insurance |
3 Membership Rewards / $1 | - | At major supermarkets and petrol stations |
2 Membership Rewards / $1 | - | In foreign currency, overseas and online |
1 Membership Reward / $1 | - | On all other eligible purchases |
40,000 Membership Rewards points | $200 | Based on the average spend of $1,800/month at an average 2 pts/ $1. Valued using Coles gift card |
Total | $400 | Total approximate value of perks & points |
Perk | Value | Notes |
---|---|---|
Purchase Protection Cover | Varies | Maximum of $2,500/event or $20,000/year. Excess of $50/claim |
Refund Protection Cover | Varies | Maximum of $500/item or $2,000 per year. Item must be worth at least $50 |
Buyer's Advantage Cover | Varies | Maximum of $10,000/year. Extends warranty - items must be worth $10,000 or less |
Transport Accident Cover | Varies | Maximum benefit of $300,000 |
Travel Inconvenience Cover | Varies | Maximum benefit of $4,000 |
Medical Emergency Expenses Cover | Varies | Maximum benefit of $2.5 million. Excess of $250/claim |
Baggage, Money and Documents Cover | Varies | Maximum benefit of $10,000. Excess of $250/claim |
Travel Cancellation Cover | Varies | Maximum benefit of $10,000. Excess of $250/claim |
Personal Liability Cover | Varies | Maximum benefit of $1 million |
Rewards credit cards often come with a variety of additional features that can add value to the account you choose. Popular perks include the following:
Rewards programs give you a way to get extra value from paying with a credit card – but you need to look at the costs as well as the perks to decide if a rewards credit card is worth it. So, if you're interested in earning points, cashback or other rewards as you spend want a rewards card, you can start by comparing a range of credit cards based on the rewards program, sign-up bonus point offers, costs and your spending habits. You can then read reviews of individual cards, check your eligibility and apply for a card that fits your needs.
Each rewards program and credit card company has a different definition of which transactions earn points. Generally, most of your everyday purchases will earn points, including spending at retail stores, supermarkets and petrol stations. Transactions that usually don't earn points are balance transfers, government charges (including ATO payments), BPAY transactions, cash advances, account fees and account charges. Check the rewards program's terms and conditions for a full list of eligible and ineligible transactions so you know when you will earn rewards.
The steps you need to take to redeem your points will vary between credit cards and reward programs, but you can usually expect to have to do the following:
To apply for a rewards credit card, you need to meet the bank or lender's eligibility criteria. The most common criteria include the following:
If you're eligible to apply, you'll also be required to provide documents including payslips and proof of identification. The provider will then assess the details and documents you provide to determine whether you'll be approved for the account.
Back to topPictures: Getty and Shutterstock
Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.