American Express Platinum Edge Credit Card

  • American Express
  • 20.74%

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

  • $195

  • 55

American Express Platinum Edge Credit Card Review

Review updated: 14 July 2014
Review published: 11 January 2012

What's hot:

  • Free domestic return flight each year
  • 5,000 bonus points offer

What's not:

  • 20.74% purchase rate
  • No extended warranty or purchase protection
  • 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 5,000 bonus points offer is available if you spend $500 on your card within the first two months if you apply by 30 September 2014. 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 5,000 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
American Express credit card 6.8 Based on 132
American Express credit card reviews
5.6 6.9 7.1 6.1 7.3

Read American Express credit card reviews by the Mozo community

Latest reviews of American Express Platinum Edge Credit Card

  • Great service and wonderful free air travel

    1. Overall customer rating
    2. (Reviewed 5 months ago)

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

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


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    American Express credit card review by Danny from Victoria

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  • Status, wealth and power

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    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...  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!


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    American Express credit card review by Louis from New South Wales

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  • Easy access, good rates

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    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!


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    American Express credit card review by Natalie from Western Australia

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  • Rewards program & phone service excellent

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    I have been able to fly to see family several times for free because of their rewards program being linked with Virgin's Velocity program. Their phone service is easy and efficient. Just wish their interest rate was a bit lower.  Full review 

    I have been able to fly to see family several times for free because of their rewards program being linked with Virgin's Velocity program. Their phone service is easy and efficient. Just wish their interest rate was a bit lower.


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    American Express credit card review by a Mozo reviewer from Victoria

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  • Easy online payment

    1. Overall customer rating
    2. (Reviewed 10 months ago)

    Very easy access. Offers great bonus incentives with point calculations. Quick and easy payment system. Just a shame so many establishments don't accept Amex and also the recurring credit card percentage fee.  Full review 

    Very easy access. Offers great bonus incentives with point calculations. Quick and easy payment system. Just a shame so many establishments don't accept Amex and also the recurring credit card percentage fee.


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    American Express credit card review by a Mozo reviewer from Victoria

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  • Show more reviews

Rewards scheme

  • Transfer points to a range of airline programs or redeem your points for travel, gift cards, retail rewards and shopping gift cards.
  • One complimentary domestic flight every year. 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

Privileges

  • Travel Insurance

Special offers

  • Apply by 30 September 2014 and receive 10,000 bonus Membership Rewards points when you spend $500 in first 2 months.

Value of rewards points

  • Example reward
  • You'd need to spend
  • $100 gift card
  • $13,500
  • $100 cash back
  • $14,500
  • Flight: Sydney-Melbourne
  • $6,900
  • Flight: Sydney-London
  • $125,000
  • Points are capped?
  • Uncapped
  • Points expire?
  • Never

Details behind our 'value of rewards' calculations

  • Points earning 1 points per dollar on Amex, uncapped
  • $100 gift card 13500 points buys a Myer $100 Gift Card
  • $100 cash back 14500 points buys a $100 credit
  • Flight: Sydney-Melbourne 1 points buys 1 Velocity Points; 6900 Velocity Points buys a Virgin Australia Syd-Mel flight
  • Flight: Sydney-London 1 points buys 1 Velocity Points; 125000 Velocity Points buys a Velocity partner London flight

*how did we do it? find out...

Rates

Purchase rate
20.74%
Intro purchase rate
none
Balance transfer rate
0.99% for 6 months (1.00% handling fee)
Balance transfer revert to cash
no
Cash advance rate
none
Interest free days
55

Fees

Annual card fee
$195.00
Introductory fee
none
Annual fee spend threshold
none
Reward program fee
none
Late payment fee
$30.00
Cash advance fee
none
Foreign exchange margin
3.00%
Duplicate statement fee
$10.00
Transaction verification fee
$7.00
Additional card fee
$0.00

Other financial bits

Minimum repayment amount
$30.00
Minimum repayment percent
2.5

Features

Additional cardholders
unlimited
Other restrictions
none
Other benefits
Complimentary domestic return flight every year.

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.

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