American Express Platinum Card

Information verified correct on May 25th, 2017
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Take advantage of 80,000 bonus Membership Rewards and an unlimited credit limit with the American Express Platinum Card.

This Platinum card also offers $300 Platinum travel credit every year, which you can redeem online for a range of rewards including flights, hotel bookings, or car hire. With no pre-set credit limit, this credit card from American Express could be an ideal option to increase your spending power and rewards potential.

Product NameAmerican Express Platinum Card
Rewards ProgramMembership Rewards Premium Ascent
Annual fee$1,200 p.a.
Minimum Monthly Repayment2.5% or $30
Minimum Income$100,000
Card TypeAmerican Express
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$100,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$1,200 p.a.
Minimum Repayment2.5% or $30
Late Payment Fee$30
Cash Advance Fee$2.50 or 2% of the cash advance amount, whichever is greater
Overseas Emergency Replacement$0
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingNo
Internet Banking TransfersYes
In BranchYes
MailNo

Pros

  • Receive 80,000 Membership Rewards Bonus Points when you apply online, are approved and spend $1,500 on your new card within the first 3 months of card membership.
  • Receive $300 Platinum travel credit every year.
  • Platinum cardholders get complimentary membership to the Ascent Premium rewards program. The Ascent Premium Rewards program is superior to all others.

Cons

  • There is no pre-set spending limit, with purchases approved based on the lending requirements of American Express.
  • This card has an annual fee of $1,200.
Rewards ProgramMembership Rewards Premium Ascent
Bonus Points on Sign-up80,000
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap300,000
Points ExpiryNever

American Express Platinum Card review

The American Express Platinum Card is a charge card that allows cardholders to collect Membership Rewards points as they spend and take advantage of bonus points offers when they sign up. The travel and frequent flyer perks also extend to an annual $300 travel credit, complimentary travel insurance and access to airline lounges. You can also take advantage of platinum perks such as your very own concierge service and higher rewards earn rates. This card comes with an annual fee of $1,200, so you should make sure the benefits outweigh the costs before you apply.

Benefits of using the American Express Platinum card

  • Bonus points offer. If you apply online, are approved and spend $1,500 within the first three months of card activation, you'll receive 80,000 bonus points. This bonus points offer is only available to new American Express cardholders who haven't owned an AMEX card in the preceding 18-month period.
  • Collect Membership Rewards points. You can earn 3 points for every $1 spent at restaurants in Australia, 2 points per $1 on airlines, accommodation and foreign currency spending, and 1 point per $1 spent on most other everyday purchases. You'll even collect 0.5 reward points per $1 spent towards utility bills, telecommunications providers, and government bodies. You can redeem your points for travel perks, gift cards, merchandise or loyalty points for 10 partner frequent flyer programs and 2 partner hotel programs.
  • $300 Platinum travel credit. Cardholders will receive a $300 platinum travel credit each year. The travel credit can be used for prepaid airfares, car hire or hotel bookings made via American Express Travel.
  • Airline lounge passes. You'll receive complimentary Priority Pass membership to access over 1,000 VIP airline lounge worldwide. You'll also get complimentary access to Virgin Australia lounges, Delta Sky Club Lounges and American Express lounges for you and a guest when travelling on eligible flights and present your Amex Platinum card and travel documents. Requirements vary between lounges, so you should check the terms and conditions on the American Express website for more specific information.
  • Complimentary travel and purchase insurance. If you use this card to pay for your travel, you'll receive complimentary insurance covers that offer protection to you, your spouse, and dependent children travelling with you. The complimentary cover includes transport accident cover, travel inconvenience cover, travel cancellation cover, medical emergency expenses cover, hijack cover and resumption of journey cover. Purchases you make using this card are also protected by purchase protection cover, refund protection cover, and buyer’s advantage cover.
  • Platinum Airline Privileges Program. Depending on the airline and destination, you can save up to 20% on standard fares found outside of the Platinum Travel Service and receive competitive deals through the Platinum Airlines Privileges Program.
  • Personal concierge service. You'll have access to your own 24/7 platinum concierge which you can use for everything like locating restaurants, booking flights, picking a gift for a loved one or even making arrangements for a business meeting.
  • Mobile contactless payments. You can look forward to the convenience of mobile digital payments using your smartphone with Android Pay, Apple Pay or Samsung Pay.

Features of the American Express Platinum Card

  • Annual fee. The card has an annual card fee of $1,200.
  • Up to 44 interest-free days. When you pay your balance in full, you can take advantage of up to  interest-free days on purchases.
  • No pre-set spending. The American Express Platinum Card is a charge card and has no pre-set spending limit. You can also save on interest costs, as long as you pay your balance in full each month.
  • Additional cardholders. You can request for additional cardholders for no extra cost.
  • Security. Your card transactions are protected by online fraud protection, purchase cover protection and buyer's advantage.

How to apply for the American Express Platinum card

If you've compared your options and decided to apply for the American Express Platinum card, you can apply online. Before you do, make sure you meet the eligibility requirements and organise the necessary documents and information to improve your chances of approval.

Eligibility requirements checklist

  • Age. You are over 18 years of age.
  • Residential status. You are a permanent Australian resident or citizen.
  • Minimum annual income. Your earn at least $100,000 as pre-tax income.
  • Credit history. No history of bad debt or payment default.

Information and documents you'll need to provide

  • Personal information. Your complete name, date of birth, marital status, and number of dependents.
  • Driver's license. Your Australian driver’s license number (if you have one).
  • Residential address. Your residential address, email address, and phone number.
  • Employer's details. Your employer’s name, address, and phone number.
  • Income information. Details surrounding your income, assets, expenses, and liabilities.

While the American Express Platinum card offers a number of perks to cardholders, it isn't the only platinum product on the market. To find the right card for you, make sure to compare your options before you apply.

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Rates last updated May 25th, 2017
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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.

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