American Express Platinum Reserve Credit Card

  • American Express
  • 20.74%

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

  • $395

  • 55

American Express Platinum Reserve Credit Card Review

Review updated: 27 June 2014
Review published: 18 October 2012

What's hot:

  • Free yearly domestic return flight or luxury hotel stay
  • Earn up to 3 points per dollar spent
  • Earn a possible 30,000 bonus rewards points

What's not:

  • $395 annual fee
  • 1% credit establishment fee for balances transferred

Mozo snapshot:

Receive the platinum touch with the AMEX Platinum Reserve credit card. Whether you're redeeming your free domestic return flight or reaping the rewards of American Express' world class service you'll feel like a real high flyer.

Key features:

While the intro rate reverts to a standard 20.74% purchase rate and there's a heavy $395 annual fee, the platinum perks are huge!

The AMEX Platinum Reserve comes with up to 3 membership rewards points for every $1 spent and there's freedom in the way you redeem points. Choose between Velocity, Air New Zealand, KrisFlyer, Cathay Pacific, Royal Orchid or Enrich points program. Or if you prefer redeem them for gift cards, retail rewards and shopping gift cards.

Here's how the rewards points work. Earn 3 points per $1 spent at restaurants in Australia, 2 points per $1 when you spend on travel and currency purchases, and 1 point per $1 spent elsewhere.

Wait, there's more...This super charged rewards credit card gets even better with a complimentary domestic economy return flight or a complimentary stay at a partner hotel every year. To get you feeling all VIP, you'll have complimentary membership to Priority Pass with two free lounge visits to your choice of 600 VIP lounges in 300 cities worldwide.

You also have access to the AMEX network, where you'll get some impressive promotions in shopping, entertainment and travel. And let's not forget, if you book your travel with your American Express card you'll have free travel accident insurance cover (including your family) and purchase protection while you're away. Also be sure to make the most of the concierge service and purchase protection.

New applicants who apply before 30 September 2014 will also have the ability to earn 30,000 bonus membership rewards points for spending $500 on their card within the first two months.

And if you have debt from another card you want to transfer over there is a 0.99% balance transfer offer for 6 months, but this comes with an upfront 1% credit establishment fee.



Who it's good for:

The unlimited cardholder option and the numerous benefits make the AMEX Platinum Reserve perfect for anyone that wants a real kick out of their rewards credit card.

Any catches?

The $395 annual fee is on the high side even for a platinum credit card but if you consider a flight to Perth is around $400, the free domestic flight and the rewards benefits are worth it!

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

Product Type Overall Rating Price Features Service Convenience Trust
American Express credit card 7.0 Based on 10
American Express credit card reviews
6.0 6.8 7.0 6.7 7.2

Read American Express credit card reviews by the Mozo community

Latest reviews of American Express Platinum Reserve Credit Card

  • Respected and customer protection programmes

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

    Easy to contact customer support at any time. Good rewards system and great one-off special deals. eg. last year if you changed your insurance to one of their recommended insurers (GIO,AAMI and APIA), you are given a $200.00 cash back.  Full review 

    Easy to contact customer support at any time. Good rewards system and great one-off special deals. eg. last year if you changed your insurance to one of their recommended insurers (GIO,AAMI and APIA), you are given a $200.00 cash back.


      1. Price
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    American Express credit card review by Wayne from Victoria

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  • The American Express cards are more user friendly

    1. Overall customer rating
    2. (Reviewed about 1 year ago)

    American Express Cards are now more useable in Australia and the point scoring system buys me more advantages than other cards.  Full review 

    American Express Cards are now more useable in Australia and the point scoring system buys me more advantages than other cards.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
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    American Express credit card review by a Mozo reviewer from Victoria

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  • The American Express cards are more user friendly

    1. Overall customer rating
    2. (Reviewed about 1 year ago)

    American Express Cards are now more useable in Australia and the point scoring system buys me more advantages than other cards.  Full review 

    American Express Cards are now more useable in Australia and the point scoring system buys me more advantages than other cards.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    American Express credit card review by a Mozo reviewer from Victoria

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  • AMERICAN EXPRESS ARE UNPRINCIPLED & UNTRUSTWORTHY

    1. Overall customer rating
    2. (Reviewed about 1 year ago)

    American Express are untrustworthy, greedy & will not respond to any of my enquiries. Staff were extremely unhelpful & were biased. I cannot recommend American Express in any way. Not only are customers penalised when purchasing but the obscene i...  Full review 

    American Express are untrustworthy, greedy & will not respond to any of my enquiries. Staff were extremely unhelpful & were biased. I cannot recommend American Express in any way. Not only are customers penalised when purchasing but the obscene interest rates & fees are extreme. Do not under any circumstances have anything to do with American Express & David Jones.


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    American Express credit card review by Adele from Queensland

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  • Direct debit accessed money after account closed

    1. Overall customer rating
    2. (Reviewed about 1 year ago)

    My complaint is based on what happens after you cancel the account more then the fact that most shops charge you an extra 2 to 5 % surcharge for the privilege of using it. I cancelled the card and they were all good and professional no problems th...  Full review 

    My complaint is based on what happens after you cancel the account more then the fact that most shops charge you an extra 2 to 5 % surcharge for the privilege of using it. I cancelled the card and they were all good and professional no problems there but a direct debit that was authorised by default as it turns out (not one I was expecting) or would of agreed to had I noticed it was "X"ed at an obscure area in the purchase agreement. Was paid by Amex after it was cancelled they then send me an account to pay this transaction, when I pointed out that I had cancelled the account why did they pay it? They say because we are not a bank we are honour bound to pay any and all direct debits that come in whether it is cancelled or not. I can not see why this should be so when on prior card cancellations I had business call me and question a dishonoured payment request I did not redirect to our new credit provider. I am sure if I was not a good payer then the Amex mob would of turned it back, I am not liking the thought any one could if clever enough seek payment from amex in my name and the would be legally bound to honour the request then seek payment from me for it when I did not request the payment knowingly.


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    American Express credit card review by a Mozo reviewer from Queensland

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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 bonus points at a wide range of partners

Privileges

  • Travel Insurance
  • Purchase Protection

Special offers

  • Apply by 30 September 2014 and receive 30,000 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, up to 150000 points per year, then
    0.5 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
$395.00
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
4
Other restrictions
none
Other benefits
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.

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