man using gold credit card

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.

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 December 17th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
Citi Platinum Credit Card - Exclusive Offer
Citi Rewards Program
1
0% p.a. for 13 months (reverts to 20.99% p.a.)
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
American Express Westpac Altitude Platinum Bundle - Qantas
75,000 bonus points
Qantas Frequent Flyer
1
0.5
20.24% p.a.
$99 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
Virgin Australia Velocity Flyer Card - Exclusive Offer
Velocity Frequent Flyer
0.66
0% p.a. for 14 months (reverts to 20.74% p.a.)
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Save on credit card costs with half the annual fee for the first year and a 0% p.a. interest rate on purchases for 14 months.
HSBC Platinum Qantas Credit Card
Qantas Frequent Flyer
1
19.99% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
Qantas Premier Platinum
100,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Get 70,000 bonus Qantas points when you meet the spend criteria and 30,000 more when you pay the second year's annual fee (100,000 total).
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 points in the first 3 months and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
Westpac Altitude Platinum Card - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
20.24% p.a.
$50 p.a. annual fee for the first year ($200 p.a. thereafter)
Earn 60,000 bonus Qantas Points when you spend $3,000 within 90 days of card approval. Plus, a $50 first year annual fee.
Virgin Australia Velocity High Flyer Card
90,000 bonus points
Velocity Frequent Flyer
1
20.74% p.a.
$289 p.a.
Take off sooner with up to 90,000 bonus Velocity Points, lounge passes and insurance covers. Plus, enjoy a 15 month balance transfer offer.
Citi Clear Platinum Credit Card
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
American Express Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway
2
20.74% p.a.
$395 p.a.
Get 100,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
1.25
20.74% p.a.
$375 p.a.
Receive 50,000 bonus Velocity Points and enjoy complimentary lounge passes, a domestic return flight and insurance covers.
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, 2 airport lounge passes every year.
NAB Qantas Rewards Signature Card
90,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
Woolworths Everyday Platinum Credit Card - Finder Only Offer
4,000 bonus points
Woolworths Shopping Card Rewards
1
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Finder only: Offers a $50 eGift Card, 4,000 bonus Credit Card points and a $0 first year annual fee. Plus, 10% off your shop once a month.
ANZ Platinum Credit Card
19.74% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
Citi Rewards Platinum Credit Card - Online Offer
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 24 month balance transfer offer, plus complimentary international travel insurance.
Suncorp Clear Options Platinum Credit Card - Online Offer
60,000 bonus points
Suncorp Bank Rewards Program
1.25
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and earn up to 60,000 Bonus Rewards Points. Plus, a discounted first year annual fee when you apply online.
American Express Westpac Altitude Platinum Bundle
75,000 bonus points
Westpac Altitude Rewards
2
1
20.24% p.a.
$49 p.a. annual fee for the first year ($199 p.a. thereafter)
$49 first year annual fee & up to 75,000 bonus Altitude Pts when you meet T&C with Visa (issued by Westpac) & Amex (issued & serviced by Amex).
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.

Compare up to 4 providers

Rates last updated December 17th, 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
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
Membership Rewards Ascent
1
N/A
$169 p.a.
Take advantage of a 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 December 17th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
St.George Amplify Signature - Qantas
80,000 bonus points
Qantas Frequent Flyer
0.75
19.49% p.a.
$179 p.a. annual fee for the first year ($279 p.a. thereafter)
Enjoy 80,000 bonus Qantas Points when you spend $4,000 within 90 days and 2 complimentary Qantas Club lounge invitations per year.
American Express Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway
2
20.74% p.a.
$395 p.a.
Get 100,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.
Qantas American Express Ultimate Card
55,000 bonus points
Qantas Frequent Flyer
1.25
20.74% p.a.
$450 p.a.
Receive 55,000 bonus Qantas Points, a $450 Qantas Travel Credit each year and 2 complimentary Qantas Club lounge invitations per year.
Citi Prestige Card
400,000 bonus points
Citi Rewards Program
3
20.99% p.a.
$700 p.a.
Earn 20,000 monthly bonus points for 20 months (400,000 total). Plus, unlimited airport lounge access and free hotel stays.
ANZ Rewards Black Credit Card
120,000 bonus points
ANZ Rewards Program
2
18.79% p.a.
$375 p.a.
Receive 120,000 bonus Reward Points and $100 back onto your card when you spend $7,500 within the first 3 months, plus, lounge passes.
Westpac Altitude Black - Qantas
80,000 bonus points
Qantas Frequent Flyer
0.75
20.24% p.a.
$300 p.a.
Earn 80,000 bonus Qantas Points when you meet the spend requirement. Plus, 2 yearly Qantas Club lounge invitations.
Westpac Altitude Black
80,000 bonus points
Westpac Altitude Rewards
1.25
20.24% p.a.
$250 p.a.
Earn 80,000 bonus Altitude Points when you meet the spend requirement. Plus, 2 yearly Priority Pass lounge invitations.
American Express Westpac Altitude Black Bundle - Qantas
120,000 bonus points
Qantas Frequent Flyer
1.25
0.75
20.24% p.a.
$499 p.a.
Up to 120,000 bonus Qantas Points with Mastercard (issued by Westpac) & Amex (issued & serviced by Amex). T&Cs apply.
American Express Westpac Altitude Black Bundle
120,000 bonus points
Westpac Altitude Rewards
3
1.25
20.24% p.a.
$449 p.a.
Up to 120,000 bonus Altitude Points with Mastercard (issued by Westpac) & Amex (issued & serviced by Amex). T&Cs apply.

Compare up to 4 providers

What are the features of an elite credit card?couple in a restaurant

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?

Card Annual fee Minimum income requirement Minimum and Maximum credit limit Features
American Express Centurion $5,000 + $5,000 initiation fee Undisclosed; application by invitation only No 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 $1,450 $100,000 No pre-set credit limit (technically a charge card)
  • Earns up to 3 Membership Rewards points per $1 spent
  • $450 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 p.a. $150,000 Min: $30,000

Max: $100,000

  • Earns up to 3 points per $1 spent
  • Golf, hotel, shopping and entertainment privileges at Shangri-La and Hilton hotel partners and via Visa
  • Front Line Access
  • Priority Pass access to 1,200+ airport lounges globally
  • One night free accommodation at a premium partner hotel
  • Earn 20,000 bonus points per month for the first 20 months from card approval (total 400,000 bonus points). Conditions apply.
ANZ Rewards Black Credit Card $375 p.a. $75,000 Min $15,000
  • 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.

Images: Shutterstock.

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Important Information*
Citi Clear Platinum Credit Card

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12.99

Annual fee

0*

*$99 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58
Suncorp Clear Options Platinum Credit...

Interest rate

20.74

Annual fee

49*

*$129 p.a. after first year

NAB Low Fee Platinum Card

Interest rate

19.74

Annual fee

90

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2 Responses

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    BrentJuly 7, 2017

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

    • finder Customer Care
      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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