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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 September 26th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
0
0
19.74% p.a.
$90 p.a.
Until 1 October 2017, exclusive to finder.com.au, enjoy a no BT fee, balance transfer offer with platinum privileges, including travel insurance.
HSBC Platinum Credit Card
1
0
19.99% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 22 months on balance transfers offer with a 2% balance transfer fee.
St.George Vertigo Platinum
0
0
12.74% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 24 months on balance transfers offer with 2% balance transfer fee.
HSBC Platinum Qantas Credit Card
60,000 bonus points
1
19.99% p.a.
$199 p.a.
Enjoy complimentary membership to the Qantas Frequent Flyer program and international travel insurance.
ANZ Platinum Credit Card - Exclusive Offer
0
0
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
NAB Rewards Platinum Card
50,000 bonus points
1
19.99% p.a.
$195 p.a.
Earn double reward points when the minimum required spend is met and enjoy 0% p.a. on balance transfers for 6 months.
Citi Rewards Platinum Credit Card
1
0
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Apply by 30 September 2017 to enjoy a long-term balance transfer offer of 0% p.a. for 24 months with a 1.5% balance transfer fee.
Bankwest Breeze Platinum Mastercard
0
0
0% p.a. for 13 months (reverts to 12.99% p.a.)
$99 p.a.
Receive complimentary international travel insurance, extended warranty cover and 0% foreign transaction fees.
American Express Velocity Platinum Card
50,000 bonus points
0
1.5
20.74% p.a.
$375 p.a.
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
Citi Platinum Credit Card - 100k Bonus Points
100,000 bonus points
1
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 Reward Points, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
NAB Low Rate Platinum Card
13.99% p.a.
$100 p.a.
Take advantage of a 0% p.a. for 16 months on balance transfers. Plus, the protection of 7 complimentary insurances.
Bendigo Bank Platinum Rewards Mastercard
1.5
0
19.99% p.a.
$89 p.a.
Get rewarded for every $1 spent on eligible purchases and balance transfers. Plus, enjoy a range of premium benefits.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0.66
0% p.a. for 12 months (reverts to 20.74% p.a.)
$129 p.a.
Until 31 October 2017, save with 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
ANZ Low Rate Platinum
11.49% p.a.
$99 p.a.
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
American Express Explorer® Credit Card
100,000 bonus points
2
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Bank of Melbourne Amplify Platinum
40,000 bonus points
1
0
19.49% p.a.
$99 p.a.
Earn 1 Amplify Rewards Point per $1 spent and receive complimentary travel insurance and purchase protection.
CUA Platinum Credit Card
1
0
19.99% p.a.
$0 p.a. annual fee for the first year ($149 p.a. thereafter)
Collect 1 CUA Rich Life Rewards point per $1 spent, plus receive complimentary travel and purchase protection insurances.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
1.25
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Exclusive to finder, receive a long-term, no fee balance transfer and earn up to 1.25 Suncorp Rewards Points per $1 spent.
ANZ Rewards Platinum
50,000 bonus points
1.5
18.79% p.a.
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
Receive complimentary insurance including travel and medical, purchase security and extended warranty insurance.
ANZ Rewards Travel Adventures card
40,000 bonus points
1.5
20.24% p.a.
$225 p.a.
Pay no overseas transaction fee on purchases, plus a free domestic return flight and lounge passes each year when you meet the criteria.

Compare up to 4 providers

Rates last updated September 26th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
American Express Gold Business Card
10,000 bonus points
0
1
$169 p.a.
Take advantage of no pre-set spending limit, data that feeds to MYOB accounting software and up to 51 days interest-free on purchases.

Compare up to 4 providers

Rates last updated September 26th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
ANZ Frequent Flyer Black
75,000 bonus points
1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Earn 75 Bonus Status Credits when you apply by 31 October 2017, buy and fly return with Qantas by 28 February 2018.
Citi Prestige Card
150,000 bonus points
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
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.
American Express Explorer® Credit Card
100,000 bonus points
2
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.

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
  • 100,000 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)
Westpac Altitude Black$195 p.a. annual fee for the first year ($395 p.a. thereafter)$75,000Min $15,000Max $75,000
  • Mastercard earns up to 3 reward points per $1 spent internationally and up to 1.25 points per $1 domestically; American Express earns 2.5 points
  • Option available to earn in Qantas Points, at a rate of 0.625 Qantas Points per $1 spent internationally and up to 0.625 points per $1 domestically; American Express earns 1.25 points
  • Complimentary insurances
  • Two complimentary VIP airport lounge or Qantas lounge passes
  • Starwood Preferred Guest Gold membership
  • Free travel planning with Altitude Black Travel Service
  • Personal shopper
  • 24/7 Westpac concierge services
  • Introductory 80,000 sign-up bonus points (until 26 October 2017; 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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