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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 February 26th, 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.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000. Plus, complimentary travel insurance.
NAB Premium Card - Exclusive Offer
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a 0% BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
Qantas American Express Ultimate Card
100,000 bonus points
Qantas Frequent Flyer


1.5
20.74% p.a.
$450 p.a.
Take advantage of 100,000 bonus Qantas Points, a $450 Qantas Travel Credit each year and 2 yearly complimentary Qantas Club lounge invitations.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
$99 p.a.
Platinum card benefits including complimentary insurance, plus 0% p.a. for 24 months on balance transfers (with no BT fee). Ends 28 February 2018.
Westpac Altitude Black - Altitude Qantas Online Offer
80,000 bonus points
Qantas Frequent Flyer


0.625
20.24% p.a.
$250 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn 80,000 bonus Qantas Points when you meet the spend requirement, plus, a discounted first year annual fee. Ends on 28 March 2018.
American Express Platinum Edge Credit Card
50,000 bonus points
Membership Rewards


1
20.74% p.a.
$195 p.a.
Receive a bonus 50,000 Membership Rewards points, a yearly $200 Travel Credit and complimentary domestic and international travel insurance.
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 - 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 and earn 3 bonus Velocity Points per $1 for the first 3 months. Offer ends on 28 February 2018.
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.
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.
Westpac Altitude Black - Online Offer
80,000 bonus points
Westpac Altitude Rewards


1.25
20.24% p.a.
$250 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn 80,000 bonus Altitude Points when you meet the spend requirement, plus, a discounted first year annual fee. Ends on 28 March 2018.
St.George 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 Amplify point per $1 spent.
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.
Bankwest Zero Platinum Mastercard
17.99% p.a.
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and access to a 24/7 concierge service.
American Express Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway


2
20.74% p.a.
$395 p.a.
Receive a yearly $400 Travel Credit, 100,000 bonus points and 2 entries per year to the American Express Lounge at Sydney International Airport.
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.
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.
Save with 0% p.a. on purchases for 14 months and 0% p.a. on balance transfers for 6 months. Offer ends on 28 February 2018.
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.
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.

Compare up to 4 providers

Rates last updated February 26th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
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 February 26th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
Westpac Altitude Black - Altitude Qantas Online Offer
80,000 bonus points
Qantas Frequent Flyer


0.625
20.24% p.a.
$250 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn 80,000 bonus Qantas Points when you meet the spend requirement, plus, a discounted first year annual fee. Ends on 28 March 2018.
Qantas American Express Ultimate Card
100,000 bonus points
Qantas Frequent Flyer


1.5
20.74% p.a.
$450 p.a.
Receive a complimentary domestic return flight every year and complimentary medical emergency expense cover.
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.
Westpac Altitude Black - Online Offer
80,000 bonus points
Westpac Altitude Rewards


1.25
20.24% p.a.
$250 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn 80,000 bonus Altitude Points when you meet the spend requirement, plus, a discounted first year annual fee. Ends on 28 March 2018.
American Express Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway


2
20.74% p.a.
$395 p.a.
Receive a yearly $400 Travel Credit, 100,000 bonus points and 2 entries per year to the American Express Lounge at Sydney International Airport.
Citi Prestige Card
150,000 bonus points
Citi Rewards Program


3
20.99% p.a.
$700 p.a.
Get access to 700 domestic and international airport lounges and 1 complimentary night stay per year at of the premium partner hotels.
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 complimentary overseas travel insurance and unlimited access to participating Véloce airport lounges outside of Australia.

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 Airline Privileges 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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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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