American Express Platinum Edge Credit Card

American Express

20.74%

0.99% for 6 months (1.00% handling fee)

$195

American Express Platinum Edge Credit Card Review

Review updated: 28 April 2015

Review published: 11 January 2012

What's hot:

  • Free domestic return flight each year

  • 10,000 bonus points offer

What's not:

  • 20.74% purchase rate

  • 1% credit establishment fee for balances transferred

Mozo snapshot:

The American Express Platinum Edge offers platinum for the people: plenty of privileges, easy-to-earn rewards points and even free travel, all for a highly reasonable annual fee of $195. The 10,000 bonus points offer is available if you spend $500 on your card within the first two months if you apply by 30 June 2015. There is a 0.99% balance transfer rate for 6 months but you'll also need to pay an upfront 1% credit establishment fee for balances that are transferred.


Key features:

Cardholders can earn points aplenty with Amex's 3-2-1 system: that's 3 points per dollar spent at major supermarkets, 2 points per dollar on fuel purchases at major fuel retailers and 1 point per dollar for everything else (except on insurance, telecommunications and government spends, where you will earn just 0.5 points per $1). With access to six different frequent flyer programs, plus merchandise and gift options, the American Express Platinum Edge is truly flexible bling. But the most attractive bonus for team Mozo? The free domestic return flight with Virgin every year. Yes, we'll say it - a credit card company really can be generous.

Other goodies include 10,000 rewards points when you spend $500 in the first two months - or $150 worth of travel. You'll also get 24-hour service and free supplementary credit cards, perfect if you want to enlist your other half to rack up points, too. The American Express Platinum Edge card comes with travel insurance, but the $195 annual fee doesn't stretch to extended warranties or purchase protection, which we'll forgive in view of all the other benefits.

Who it's good for:

Those who want to dip a toe into the platinum credit card lifestyle - and a bit of jetsetting on the side, without having to pay a huge annual fee. If you have the discipline to use your credit card for daily expenses plus your necessary splurges - without going over the edge - the American Express Platinum Edge card makes reward points easy to accumulate.

Any catches?

It's easy to be distracted by all the points and platinum treatment being thrown your way, but the 20.74% interest rate on purchases will cause some platinum pain if you aren't the type to pay off your monthly bill. Fortunately, you'll have 55 interest-free days to undo any damage you've done along the way.

How are American Express credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 122
American Express credit cards reviews

6.3 7.1 7.3 6.9 7.6

Read American Express credit card reviews by the Mozo community

Latest reviews of American Express Platinum Edge Credit Card

American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   4 / 10

5 Star CS but average rewards for smaller spends

Excellent customer service but with a small annual spend and 2% Merchant fees on some transactions. I am not sure if the savings travel Insurance Air Miles and points earnt compare with other Freq flyer programs although with AMEX rewards better...
Full review

Excellent customer service but with a small annual spend and 2% Merchant fees on some transactions. I am not sure if the savings travel Insurance Air Miles and points earnt compare with other Freq flyer programs although with AMEX rewards better choices of Airline Alliances.

    Price   3 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   5 / 10

    Trust   9 / 10

Less

Richie (WA), reviewed 10 days ago

Was this review helpful? Yes

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American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   7 / 10

Great benefits and service

I like the way that I receive a complimentary domestic flight every year with this card. I do pay an annual fee but that is cheaper than buying the flight. They also let you book two years' free flights together if you time right.. Love it! It...
Full review

I like the way that I receive a complimentary domestic flight every year with this card. I do pay an annual fee but that is cheaper than buying the flight. They also let you book two years' free flights together if you time right.. Love it! It is possible to get a lot of free offers in different restaurants and hotels worldwide, I have received numerous free bottles of wines in different hotels around the worldwide just by flashing this card. I would prefer if the card didn't charge for overseas transactions and that more stores would accept AMEX or charge a surcharge to use it, but things are improving. The customer service is great, they area always really helpful and can be reached 24/7.

    Price   5 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Erin (NSW), reviewed 3 months ago

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American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   7 / 10

Great service and wonderful free air travel

Love the concierge service and the free air ticket every year.
Full review

Love the concierge service and the free air ticket every year.

    Price   2 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   9 / 10

Less

Danny (VIC), reviewed about 1 year ago

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American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   8 / 10

Status, wealth and power

Firstly, it's an AMEX. It's flashy silver with the sleek words "Platinum" on the front. It exuberates wealth and success. I use it at fine dining, upper-end shops and also Woolworths. I love the look I get on people's faces with that "wow,...
Full review

Firstly, it's an AMEX. It's flashy silver with the sleek words "Platinum" on the front. It exuberates wealth and success. I use it at fine dining, upper-end shops and also Woolworths. I love the look I get on people's faces with that "wow, respect" factor. It's a show off gimmick. It makes me feel good about myself. Downside? I can't use it at more than 30% of stores or petrol stations. Surcharges. There's no paypass with it! Being a person with little time to waste, the AMEX is a waste of time for those who want to just get in and out of supermarkets, pharmacies or petrol stations. Another minor downside is I can't withdraw cash from it i.e. cash advance. Sometimes I forget my keykard at home and need some cash for a night out in the city. No cash advance, unfortunately! Ultimately, I would still prefer the elite status of the "AMEX" over a Visa or Mastercard any day!

    Price   9 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   3 / 10

    Trust   10 / 10

Less

Louis (NSW), reviewed over 1 year ago

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American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   5 / 10

Easy access, good rates

ANZ interest rates are good, I use my card to pay bills, petrol and food. If you want save money on your mortgage, then hook it to your credit card you should!
Full review

ANZ interest rates are good, I use my card to pay bills, petrol and food. If you want save money on your mortgage, then hook it to your credit card you should!

    Price   5 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   3 / 10

    Trust   2 / 10

Less

Natalie (WA), reviewed over 1 year ago

Was this review helpful? Yes

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Revealing rewards

How do we do it?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,
  • figure out how many flights or gift cards or cashback credits you could get for those points,
  • work out what that's actually worth to you,
  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
  • In products that have more than one card, a different mix of spend between American Express / Visa / MasterCard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Blue Blue Saver including baggage and Jetstar Jetsaver including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Singapore, Virgin Atlantic and Malaysian, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
  • Shopping rewards are based on $100 gift cards from a major national department store.
  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Rewards scheme

  • Transfer points to a range of airline programs or redeem your points for travel, gift cards, retail rewards and shopping gift cards.
  • Transfer your points to 8 airline programs, including Virgin Velocity, or book direct with your dedicated travel service or travel agents including Harvey World Travel and Webjet.
  • Earn 3 points per $1 at major supermarkets, 2 points per $1 at major petrol stations. 1 point per $1 on all other purchases excluding insurance, telecommunications, and government where you earn 0.5 points per $1
  • One complimentary domestic flight every year.

Privileges

  • Concierge
  • Travel Insurance

Special offers

  • Apply by 30 June 2015 and receive a bonus 10,000 Membership Rewards Points when approved and spend $500 on the card within the first 2 months.

Value of rewards points

  • Need to spend $13,500 ()

  • Need to spend $14,500 ()

  • Need to spend $6,900 ()

  • Need to spend $125,000 ()

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Amex, uncapped

  • 13500 points buys a Myer $100 Gift Card

  • 14500 points buys a $100 credit

  • 1 points buys 1 Velocity Points; 6900 Velocity Points buys a Virgin Australia Syd-Mel flight

  • 1 points buys 1 Velocity Points; 125000 Velocity Points buys a Velocity partner London flight

* How did we do it? Find out...

Rates

  • 20.74%

  • none

  • 0.99% for 6 months (1.00% handling fee)

  • no

  • none

  • 55

Fees

  • $195.00

  • none

  • none

  • none

  • $30.00

  • none

  • 3.00%

  • $10.00

  • $7.00

  • $0.00

Other financial bits

  • $30.00

  • 2.5

Features

  • unlimited

  • none

  • none

About American Express

American Express is a global mega provider of credit cards, including gold cards, platinum cards, charge cards and more. With American Express, you can find a credit card to suit your lifestyle, tastes and aspirations. If you're a rewards points junkie, be sure to check out the hugely popular American Express rewards programs, including Qantas Frequent Flyer points and Qantas Club rewards.

Compare other credit cards