VIP credit cards – Australia’s prestige credit cards
From premium rewards to travel perks and cards literally made of metal, compare the features and perks of some of the most exclusive credit cards in Australia.
If you regularly pay with plastic, a prestige credit card could offer you both the features you need and the luxury perks you want. From airport lounge passes and travel credit to hotel upgrades and dedicated 24/7 concierge services, these exclusive cards are designed to complement the lifestyles of big spenders.
What is a prestige credit card?
A prestige credit card offers extra features, premium perks and larger credit limits than other cards – and comes at a higher cost. Platinum and black credit cards are considered prestige credit card options in Australia.
The eligibility requirements for these cards typically corresponds to their costs, with minimum income requirements starting at $75,000. Successful prestige card applicants also tend to have high credit scores.
Compare Black, Platinum and credit cards made of metal
What are the pros and cons of prestige credit cards?
- Rewards. Just about every prestige credit card comes linked to a rewards or frequent flyer program. These cards usually offer more competitive earn rates (points per $1 spent) than other cards, and high or no points caps. 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 give you access to domestic and international airport lounges, as well as complimentary travel insurance. Other perks could include complimentary flights or travel credit, discounts or free nights at partner hotels and status upgrades for partner hotel loyalty programs. If you’re a regular jetsetter, these complimentary extras could help you cut the costs and up the luxury on your next trip.
- Extras. Most prestige cards offer a 24/7 concierge service that you can call on for help with anything from travel to entertainment or business. As well as saving you time on tasks – such as booking a hotel or getting tickets to an event – the concierge could help you find out about the latest offers available through your credit card.
- Annual fees. Prestige cards come with higher annual fees than other cards, so you’ll need to make sure the value of the benefits you use outweigh the card's costs.
- Interest rates. Prestige cards also tend to charge higher rates, so only consider this type of card if you regularly repay your monthly balance in full and on time. The exception is prestige charge cards, which don't apply interest but require you to pay the full balance by the due date every month.
- Exclusive. These cards 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 the requirements before you apply for any prestige card.
If you’re looking for a prestige card, consider whether or not you’ll make enough use of the perks to outweigh the cost of the card. 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. But if that's not the case, you may be better off looking at other types of credit cards. As always, make sure you compare your options before applying so you can find a card that works for you.
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* 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.