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VIP credit cards – Australia’s prestige credit cards

If you’re looking for a card that’s a cut above the rest, discover the perks of a prestige credit card today.

If you regularly pay on plastic but want more out of your next credit card, a prestige credit card could offer the extra features you need. While low rate and no annual fee cards exist for cardholders who want a basic card with no frills, prestige cards are designed to complement the lifestyles of bigger spenders.

Unfortunately, this means they usually come at a higher cost. Use this guide to understand what constitutes a prestige credit card, the features and fees you can expect and how to compare them to find the right card for you.

What is a prestige credit card?

A prestige credit card refers to a card that offers extra features and larger credit limits, and comes at a higher cost. Gold, platinum and black credit cards are all considered prestige credit card products. Depending on the card, these products usually offer complimentary travel and purchase insurance, a more competitive earn rate, points cap and rewards program, and a higher credit limit. Some cards might also offer a concierge service, complimentary flights, airline lounge passes, free airport transfers and more. Usually, the more extra features on offer, the higher the annual fee will be.

Naturally, the eligibility requirements for these cards correspond to their costs, with minimum income requirements starting at $75,000. Needless to say, successful prestige card applicants also have the highest credit scores.

Compare Platinum, Gold and Black credit cards

Rates last updated May 21st, 2018
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.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
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 and enjoy a discounted annual fee of $64 for the first year.
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 including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
HSBC Platinum Qantas Credit Card
60,000 bonus points
Qantas Frequent Flyer


1
19.99% p.a.
$199 p.a.
Receive 60,000 bonus Qantas Points when you spend $3,000 within 3 months of card approval, plus enjoy complimentary travel insurance.
Bendigo Bank Platinum Rewards Mastercard
Bendigo Rewards


1.5
19.99% p.a.
$89 p.a.
Earn 1.5 Bendigo Rewards points per $1 spent. Receive complimentary insurance covers, plus, access to Mastercard Priceless Cities.
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)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
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)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
St.George Amplify Platinum
50,000 bonus points
Amplify Rewards / Qantas Frequent Flyer


0.5
19.49% p.a.
$99 p.a.
Receive 50,000 bonus Amplify or Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas Points or 1 Amplify Point per $1 spent.
NAB Low Fee Platinum Card
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
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.
St.George Amplify Signature - Qantas
90,000 bonus points
Qantas Frequent Flyer


0.75
19.49% p.a.
$279 p.a.
Receive 90,000 bonus Qantas Points when you spend $4,000 within 90 days and receive two complimentary Qantas Club lounge invitations per year.
Qantas American Express Ultimate Card
55,000 bonus points
Qantas Frequent Flyer


1.5
20.74% p.a.
$450 p.a.
Receive 55,000 bonus Qantas Points, a $450 Qantas Travel Credit each year and 2 yearly complimentary Qantas Club lounge invitations.
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 65,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months. Plus, a $0 annual fee for the first year.
ANZ Low Rate Platinum
11.49% p.a.
$99 p.a.
Enjoy 0% p.a. on balance transfers for 15 months with no BT fee, combined with platinum card privileges and complimentary insurances.
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.
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
Bendigo Bank Low Rate Platinum Mastercard
11.99% p.a.
$89 p.a.
Offers premium features such as mobile phone and tablet insurance and purchase protections, plus, up to 55 days interest-free on purchases.
Westpac 55 Day Platinum Credit Card
19.84% p.a.
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
American Express Platinum Edge Credit Card
Membership Rewards


1
20.74% p.a.
$195 p.a.
Receive a yearly $200 Travel Credit and complimentary domestic and international travel insurance, plus 0% p.a. for 12 months on balance transfers.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer


1.5
20.74% p.a.
$375 p.a.
Receive 50,000 bonus Velocity Points, a complimentary Virgin Australia return Economy domestic flight each anniversary year, plus, 2 lounge passes.
Bendigo Bank Qantas Platinum Mastercard
Qantas Frequent Flyer


0.6
19.99% p.a.
$149 p.a.
Earn 0.6 Qantas Points per $1 spent on eligible purchases, get 180 days of comprehensive travel insurance and extended warranty on purchases.

Compare up to 4 providers

Rates last updated May 21st, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
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.
American Express Gold Business Card
10,000 bonus points
Membership Rewards Ascent


1
$169 p.a.
Take advantage of 10,000 bonus points, no pre-set spending limit, data that feeds to MYOB and up to 51 days interest-free on purchases.

Compare up to 4 providers

Rates last updated May 21st, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
American Express Explorer Credit Card
50,000 bonus points
Membership Rewards Gateway


2
20.74% p.a.
$395 p.a.
Receive 50,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.
St.George Amplify Signature - Qantas
90,000 bonus points
Qantas Frequent Flyer


0.75
19.49% p.a.
$279 p.a.
Receive 90,000 bonus Qantas Points when you spend $4,000 within 90 days and receive two complimentary Qantas Club lounge invitations per year.
ANZ Frequent Flyer Black
75,000 bonus points
Qantas Frequent Flyer


1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Get 75,000 bonus Qantas Points when you meet the spend requirement, unlimited Véloce airport lounge access and a $0 annual fee for the first year.
Qantas American Express Ultimate Card
55,000 bonus points
Qantas Frequent Flyer


1.5
20.74% p.a.
$450 p.a.
Receive 55,000 bonus Qantas Points, a $450 Qantas Travel Credit each year and 2 yearly complimentary Qantas Club lounge invitations.
Citi Prestige Card
150,000 bonus points
Citi Rewards Program


3
20.99% p.a.
$700 p.a.
Reward yourself luxuriously with 150,000 bonus Points, free hotel stays, exclusive events and unlimited airport lounge access with Priority Pass.
ANZ Rewards Black Credit Card
75,000 bonus points
ANZ Rewards Program


2
18.79% p.a.
$0 p.a. annual fee for the first year ($375 p.a. thereafter)
Receive 75,000 bonus points when you meet the spend requirement. Plus, complimentary lounge passes and a $0 annual fee for the first year.

Compare up to 4 providers

What are the features of an elite credit card?couple-restaurant250x250

While elite credit cards offer similar features to standard credit cards, but differ from card to card, you can generally expect the following:

  • Higher credit limits. Prestige credit cards come with higher credit limits, some of which may even be unlimited. The minimum credit limits for gold and platinum cards can start at around $4,000 and $5,000 respectively, but the minimum for black cards can range from $15,000 to $30,000.
  • More competitive reward points earn rates. Most prestige credit cards come linked to a rewards program and generally offer a better earn rate than standard credit cards. This means that you will earn more rewards points per dollar spent and redeem rewards faster.
  • Travel perks. Prestige cards provide complimentary travel insurance when you use the card to cover travel expenses and purchase protection when you use the card to buy eligible items. Some of these cards also offer airport lounge access, limousine services to and from the airport and free flight upgrades.
  • Premium perks. Prestige cardholders have access to 24/7 global concierge services. A concierge can assist you with anything from booking a hotel reservation, organising a gift for a loved one or getting tickets to a sold-out show. You just need to contact your concierge, make a request and they’ll sort it out for you.

Which VIP credit cards are available in Australia?

CardAnnual feeMinimum income requirementMinimum and Maximum credit limitFeatures
American Express Centurion$5,000 + $5,000 initiation feeUndisclosed; application by invitation onlyNo pre-set credit limit (technically a charge card)
  • Earns up to 3 Membership Rewards points per $1 spent
  • Centurion airport lounge access
  • Complimentary insurances
  • Hotel and flight upgrades
  • Free companion flight (with purchase of a full-fare ticket)
  • 24/7 worldwide concierge services
  • Instant access to VIP seating and guaranteed restaurant reservations
American Express Platinum Card$1,200$100,000No pre-set credit limit (technically a charge card)
  • Earns up to 3 Membership Rewards points per $1 spent
  • $300 Platinum Travel Credit annually
  • Priority Pass airport lounge access
  • Complimentary travel and purchase insurance
  • Platinum Fare Guarantee and International Airline Program offers fare savings up to 20%
  • 24/7 Platinum concierge services
  • 80,000 sign-up bonus points (conditions apply)
Citi Prestige Card$700$150,000Min $30,000
Max $100,000
  • Earns up to 5 rewards points per $1 spent internationally and up to 2 points per $1 domestically
  • Points can be converted into Qantas Points for a fee of $49 p.a.
  • Golf, hotel, shopping and entertainment privileges at Shangri-La and Hilton hotel partners and via Visa
  • Front Line Access
  • Priority Pass access to 700 airport lounges globally
  • One night free accommodation at a premium partner hotel
  • Introductory balance transfer rates and 70,000 sign-up bonus points (conditions apply)
ANZ Rewards Black Credit Card$0 p.a. annual fee for the first year ($375 p.a. thereafter)$75,000Min $15,000
  • Annual fee waiver in the first year
  • Complimentary travel insurance
  • Airport lounge access
  • Personal concierge services

Pros

  • Rewards. Just about every prestige credit card comes linked to a reputable rewards program and you can usually expect a more competitive points earn rate than low rate and low fee cards. You can also expect a wide variety of redemption options when it comes to using your accumulated points for rewards.
  • Travel benefits. Many of these cards offer access to domestic and international airport lounges as well as complimentary travel insurance. Discounts at partner hotels are not uncommon and you can also benefit by flying aboard partner airlines. If you’re a regular jetsetter, these complimentary extras could help you cut costs on your next trip.
  • Extras. Most prestige cards offer a 24/7 concierge service that you can call on for anything from travel to entertainment to business. Many of these cards also offer extra perks including pre-sale tickets and exclusive event invitations.

Cons

  • Annual fees. Prestige cards typically come with higher annual fees, so you’ll need to make sure the derived benefits of your card outweigh its costs.
  • Interest rate. Prestige cards also tend to come with higher interest rates, so you only consider this type of card if you regularly repay your monthly balances in full and on time.
  • Exclusive. These cards usually come with stricter eligibility requirements (such as a higher minimum income and excellent credit history), limiting the number of people who are eligible to apply for them. Make sure you meet these requirements before you apply.

If you’re shopping for a prestige card, consider whether or not you’ll make enough use of the perks to outweigh the cost of the card. However, if you are a regular spender who meets the eligibility requirements of a prestige card, it can be a smart way to get extra value from paying on plastic. As always though, make sure you compare your options before applying to find the best option for you.

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Important Information*
Westpac Low Rate - Online Offer
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HSBC Platinum Credit Card
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Interest rate

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NAB Low Fee Platinum Card
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Citi Platinum Credit Card - 100k Bonus Points
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Interest rate

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Annual fee

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2 Responses

  1. Default Gravatar
    BrentJuly 7, 2017

    Is there a metal credit card available in Australia that you can apply for?

    • Staff
      RenchJuly 8, 2017Staff

      Hi Brent,

      Thanks for your inquiry.

      You can check these pages to see and compare credit cards that are made of metal:
      What is the most prestigious credit card?
      Black Credit Cards Comparison

      You may click on the name of your preferred card to see more details then you may click on the green ‘Go to Site’ button to submit an online application.

      Cheers,
      Rench

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