American Express Platinum Card

Information verified correct on December 11th, 2016
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The American Express Platinum Card provides an unlimited credit limit and 100,000 Membership Rewards Bonus Points if you are a new cardholder.

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
Offer end date31 January 2017
Annual fee$1,200 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
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
Complimentary Travel Insurance Cover6 months
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
Over Limit Fee$15
Overseas Emergency Replacement$0
Overseas ATM Balance check$1.50
Overseas ATM Withdrawal Fee$1.50
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 PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • 100,000 Membership Rewards Bonus Points on eligible spend when you apply by 31 January 2017
  • Platinum card holders 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. If you are looking at this card then you can probably afford it; however, almost one thousand a year to use this card will mean that you should be serious about taking advantage of the Ascent Premium Rewards Program, otherwise it's a waste of money.
Rewards ProgramMembership Rewards Premium Ascent
Bonus Points on Sign-up100,000
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

Review of the American Express Platinum Card

With the American Express Platinum Card, you know you have arrived. This is the original AMEX Platinum Card and is not to be confused with the AMEX Platinum Credit Card, which does not offer quite the level of benefits and kudos.

The AMEX Platinum Card affords the carrier instant recognition as one of the world's high fliers, and confers a level of privileges and benefits that only a true Platinum credit card can offer. Whilst there are many credit cards on the market that carry the Platinum label, the American Express Platinum card is where it's really at. No one earning less than $100,000 can apply, and approval leads to unlimited spending power - there is no credit limit on this card.

As an AMEX Platinum Card member you will also enjoy a Concierge service that operates 24 hours a day anywhere in the world. At your disposal is a team of experts just waiting to attend to your every whim. Whatever you want to find, wherever and whenever you want to find it, you will receive personalised help to achieve your goal.

Key features of the American Express Platinum Card

  • No spending limit. Giving you unrivalled flexibility
  • Platinum Travel. Offering travel expertise and preferential treatment. Get help with your travel arrangements, enjoy savings on first or business class airfares and upgrades, and special deals on hotels, cruises, car hire, etc.
  • Complimentary insurance coverage. Including unlimited overseas medical emergency expenses, travel inconveniences, loss of income cover, purchase protection and more
  • Complimentary Platinum Credit Card. The lesser version, but still with a host of benefits, including one free Qantas domestic economy return flight or a night's stay at a hotel once a year
  • Fine Dining privileges. A personal service to secure reservations in the finest restaurants around the world
  • "By Invitation Only" programs. Providing access to various sporting, theatrical and social events
  • Ascent Premium Membership. The highest tier of rewards, and earn 1.5 points for every dollar you spend up to $200,000 per year; thereafter 1 point per dollar
  • Rewards points. Use your points to book travel and accommodation or for retail purchases, or transfer your points to an airline reward
  • Online Fraud Protection Guarantee. Ensures you will not be held liable for any unauthorised charges online
  • Additional cardholders. Four complimentary additional cards, plus an extra one for the cardholder so that one can be used for personal expenses and one for business expenses
  • Online account. 24/7 online account access
  • Annual fee. An annual card fee of $1,200

If you are one of the lucky ones in the $100,000+ per year earnings bracket, the AMEX Platinum Card is the ideal choice to establish your credentials wherever you go, and bring you the premium in credit card perks and benefits.

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Rates last updated December 11th, 2016
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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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