AMEX launches new Platinum charge card perks - how do they stack up?

In an Australian first, AMEX is redefining prestige with new enhancements announced today to their Platinum charge card.

Unlike a regular credit card, the Platinum charge card has no interest rate but cardholders are required to pay off their balance in full once their bill arrives each month.

Aside from the new metal design, new and existing Platinum Card cardholders are being treated to an experience and service, that according to American Express, delivers a value of at least 2.5 times the card’s $1450 annual fee.

The new perks include complimentary travel insurance, airport lounge access, Accor club membership and an annual subscription to the Australian Financial Review.  

“There’s never been a better time to be with American Express. Platinum card members can use their card in more places than ever before, reap the benefits of a rewards card without accruing interest, plus we’re raising the bar on the exceptional experiences and service we offer,” said Austin Huntsdale, Vice President American Express Consumer Products Australia & New Zealand.

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So to find out if the new AMEX Platinum charge card is worth the buzz, we thought it might be worth comparing it to the American Express Explorer credit card - a card designed for travel fanatics.

AMEX Explorer credit cardAMEX Platinum charge card
20.74% purchase rate0% interest rate
$395 annual fee$1450 annual fee
Complimentary travel insurance for primary cardholder and their familyComplimentary domestic and international travel insurance of up to 4 additional card members, their partners and dependants (up to 24 years old)
Up to 55 interest-free daysUnlimited lounge access in Sydney and Melbourne international airports for primary and supplementary card members, plus 2 guests
2 membership rewards points for every dollar spentComplimentary Accor Plus membership
50,000 bonus points for new customers (minimum $3,000 spend in first 3 months)Complimentary annual subscription to the Australian Financial Review
$400 annual travel credit$450 annual travel credit
Eligibility: $65,000+ annual incomeEligibility: $100,000+ annual income

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“The platinum cards from American Express are testament to our commitment to offering an extraordinary experience to those who value exceptional service and phenomenal travel and lifestyle benefits - whether they’re at home or abroad,” said Huntsdale.

And if you’d like to know how the AMEX Platinum charge card stacks up to other rewards credit cards, you can check out our rewards card comparison tool.