Striking gold with credit card travel insurance

Mozonians are always looking out for great deals or ways to save money! And we all know that travelling isn’t exactly cheap. So it’s important for any savvy traveller to be aware that many credit cards include free international travel insurance. And yes, there are usually annual fees and interest rates but the benefits can be worth it!

Team Mozo has poured over five different gold credit card insurance terms and conditions (not an easy task), to give you all the info you need to know about gold credit card travel insurance.

Below are the gold credit cards we looked at:

St.George Gold Low Rate credit card
NAB Gold credit card
Commonwealth Gold Low Rate credit card
Bankwest Breeze Gold MasterCard credit card
AMEX Gold credit card

Who’s covered

Bring your family! In all five gold credit cards the card holder, spouse and dependent children are covered. However, there are certain eligibility requirements to keep in mind.


All the gold credit cards we took a look at require some of the travel expenses (travel ticket, accommodation or itinerary items) to be paid on the gold credit card. Keep in mind there is also a minimum amount to be paid on the credit card per person travelling to ensure they’re covered.

The AMEX Gold credit card and the St.George Low Rate credit card both require you to purchase each persons return overseas travel tickets on your gold credit card prior to leaving Australia.

Not all credit card travel insurance is linked to airfares! The NAB Gold credit card allows you to pay a minimum of $500 per person in general prepaid travel expenses, accommodation cost or land tour costs to be eligible for coverage.

You can also pay for accommodation on the Commonwealth Bank Gold to meet the eligibility requirements. It’s a bit pricey though! A minimum of $950 has to be spent on each return travel ticket or other expenses (accommodation, itinerary items). If you choose to go with the airfare only option they do have an alternative clause, where you can pay 90% of each persons return overseas ticket to be covered.


The lowest eligibility requirement is the Bankwest Breeze Gold MasterCard, as only 75% of your return travel ticket has to be paid on the credit card for insurance.

Paying excess usually can’t be avoided if you need to make a claim! St.George Gold Low Rate, NAB Gold and Bankwest Breeze Gold MasterCard all have a general excess of $200. However, with each gold credit card there are some items that are exempt.

The St.George Gold Low Rate and the Bankwest Breeze Gold MasterCard credit cards both have no excess for loss or damage to personal property (travel documents, credit cards, emergency replacement of clothes and toiletries).

NAB has quite a few items that are excluded from excesses: travel delays, resumption of overseas journey, return of rental vehicle if you are unwell, baggage and personal items, fragile items, and wear and tear from atmosphere or climatic conditions. Phew!

On the other hand, the Commonwealth Gold Low Rate has a general excess of $250 for things like medical and like the other gold credit cards there is no excess for damage to personal items. There are smaller excesses of $150 for unexpected cancellation of travel arrangements and other unexpected expenses, resumption of journey and special events.

AMEX Gold has specific excesses according to what is to be covered. Medical cover has an excess of $500, baggage and personal $100 and your laptop $250.

Expiry Date
St.George Gold Low Rate, Commonwealth Gold Low Rate, Bankwest Breeze Gold MasterCard and AMEX Gold all have a 3 month expiry date. This means that if you’re planning to travel for more than three months consequently you may have to purchase stand-alone travel insurance because the majority of gold credit card travel insurances cannot be extended.


The only gold credit card out of the five to have more than 3 months cover is NAB Gold, with an expiry date of 6 months. That can make quite a difference if you’re going on a world cruise!


Medical insurance is one of the most important covers, especially in countries like the US where medical insurance is a must. Thankfully, there is unlimited medical cover on the St George, Commonwealth and Bankwest Breeze Gold MasterCard credit cards and NAB Gold covers actual incurred costs.

All the gold credit cards state that they will not cover pre-existing medical conditions, such as asthma or diabetes. And remember the devil’s in the detail! There are several terms and conditions to watch out for in regards to medical insurance. Many credit cards will not provide medical coverage for special sports or extreme sports, so if you’re thinking of going skiing and conquering the black slopes, be sure to check your coverage!

The Amex Gold has a $2.5 million limit on medical cover. We know this might sound like a huge amount, but if other gold credit cards are offering unlimited cover, it doesn’t quite stack up. Especially if you have a freak accident, that requires expensive medical procedures. You might be a bit huffed if the $2.5 million doesn’t cover the costs!

Baggage and Property
St.George Gold Low Rate and Bankwest Breeze Gold MasterCard have the same cover for baggage and property, such as $10,000 per person and $15,000 for the family. The Commonwealth Gold Low Rate has slightly higher cover for a family with $20,000 but still capped at $10,000 per person. The NAB Gold has the highest cover for an individual with $15,000 per person and $20,000 for a family.


AMEX Gold has the same cap of $10,000 in total overall per person. But the great thing is that there isn’t a family limit. So if you’re travelling with your partner and two children as a family you’ll be covered for $40,000.

While travel insurance differs between gold credit cards, all in all most coverage stacks up well and if you find the right one for you and your trip, there’s certainly some gold to be found! Stay tuned for our next blog when we put platinum credit card travel insurance to the test!

Striking gold with credit card travel insurance was last modified: July 27, 2015 by Rebeccah Elley

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