American Express Platinum Edge Credit Card

20.74% p.a.

0% p.a. for 12 months (1.00% p.a. balance transfer fee)

$195

American Express Platinum Edge Credit Card Review

Rates and fees information correct as at 31 August 2016.

Review published: 11 January 2012

What's hot:

  • Free domestic return flight each year

  • 10,000 bonus points offer

  • 0% p.a balance transfer rate for 12 months

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 $750 on your card within the first three months. There is a 0% balance transfer rate for 12 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 $750 in the first three months. 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 255
American Express credit cards reviews

6.1 7.2 7.3 6.7 7.5

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

Annual fees

Assessibility

Full review

Assessibility

    Price   2 / 10

    Features   3 / 10

    Customer service   6 / 10

    Convenience   1 / 10

    Trust   8 / 10

Less

Dominic (WA), reviewed 5 months ago

American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   10 / 10

Good Customer Service

Best in the town

Full review

Best in the town

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sierra (VIC), reviewed 5 months ago

American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   4 / 10

Good reward points, security is good. Inflexible.

I am not very happy with American Express because I am often charged a surcharge when I use the card. Also lots of stores do not accept American Express but the reward points are quite good. People should be aware of the limitations with this...

Full review

I am not very happy with American Express because I am often charged a surcharge when I use the card. Also lots of stores do not accept American Express but the reward points are quite good. People should be aware of the limitations with this particular card. However, the security features are quite good. I did have a Visa Card and my identity was stolen once before.

    Price   1 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   0 / 10

    Trust   6 / 10

Less

Margaret (VIC), reviewed 7 months ago

American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   7 / 10

Good so far

Just taken out an American Express Platinum Edge Card

Full review

Just taken out an American Express Platinum Edge Card

    Price   6 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Gregory (NSW), reviewed 8 months ago

American Express

American Express Platinum Edge Credit Card credit card review

Overall rating   5 / 10

Always works

Don't have to carry much cash.

Full review

Don't have to carry much cash.

    Price   5 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Emma (NSW), reviewed 10 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

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 Australia Saver including baggage and Jetstar Starter 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, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, 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 return flight every year.

Privileges

  • Travel Insurance
  • Extended Warranty
  • Purchase Protection
  • Account alerts by SMS

Special offers

  • Receive 10,000 Membership Rewards Bonus Points when approved and spend $750 on the card within the first 3 months.

Value of rewards points

  • Need to spend $14,500 ()

  • Need to spend $13,500 ()

  • Need to spend $7,800 ()

  • Need to spend $119,600 ()

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Amex, uncapped

  • 14500 points buys a $100 credit

  • 13500 points buys a Myer $100 Gift Card

  • 1 points buys 1 Velocity Points; 7800 Velocity Points buys a Virgin Australia Syd-Mel flight

  • 1 points buys 1 Velocity Points; 119600 Velocity Points buys a Velocity partner London flight

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

Rates

  • 20.74% p.a.

  • none

  • 0% p.a. for 12 months (1.00% p.a. balance transfer fee)

  • no

  • none

  • 55

Fees

  • $195.00

  • none

  • none

  • none

  • $30.00

  • 2%, min $2.50

  • 3.00%

  • $0.00

  • $7.00

  • $0.00

Other financial bits

  • $30.00

  • 2.5

Features

  • unlimited

  • The maximum balance transfer that can be approved is $10,000 or 70% of approved credit limit, whichever is less.

  • 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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