platinum credit cards

Platinum credit cards

Platinum credit cards offer the holder a touch of prestige because they come with higher credit limits, special rewards programs and exclusive concierge services. These benefits also mean typically higher interest rates, which means applying for a platinum card isn’t as easy as a regular card. You’ll need a clean credit history, low debt and high income. Start comparing platinum cards below.

Platinum credit card comparisons on Mozo - last updated 12 May 2021

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
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    NAB Qantas Rewards Signature Card

    NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.99% p.a.
    $395 $295 in the first year
    Qantas Frequent Flyer
    Concierge,
    Extended Warranty,
    Purchase Protection,
    International Travel Insurance,
    Transit Accident Insurance,
    Interstate Flight Inconvenience Insurance,
    Rental Vehicle Excess in Australia Insurance
    Compare
    Go to site
    Details
  • Apply By 7 September 2021
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    Westpac Altitude Platinum

    Earn up to 80,000 bonus Altitude Points, worth up to $350 of eGift cards ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. Only $99 annual card fee for the first year, $150 thereafter.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.49% p.a.
    $150 $99 in the first year
    Altitude Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    Bankwest Breeze Platinum Mastercard

    Streamline your budget with 0% p.a on balance transfers for 15 months then 9.90% thereafter. No annual fee for the first year. Awarded two Mozo Experts Choice Awards in 2020 for best Low Rate Platinum Credit Card and best Balance Transfer Platinum Credit Card^. Limited time only. Other fees, T&Cs apply. New Breeze Mastercard customers only.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    0% p.a. for 15 months then 9.90% p.a.
    $69 $0 in the first year
    -
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    St.George Vertigo Platinum

    St. George Vertigo Platinum credit card is a great value platinum card which receive $300 cashback, available if you spend $900 on eligible purchases within 90 days of being approved for the card (apply by 30 June 2021).

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    12.99% p.a.
    $99
    -
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    NAB Low Fee Platinum Card

    0% p.a. on balance transfers for 24 months (T&Cs apply).

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $90
    -
    Concierge,
    Extended Warranty,
    Purchase Protection,
    International Travel Insurance,
    Transit Accident Insurance,
    Interstate Flight Inconvenience Insurance,
    Rental Vehicle Excess in Australia Insurance
    Compare
    Go to site
    Details
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    St.George Amplify Platinum

    80,000 bonus Amplify Points, worth up to $350 in eGift Cards (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Amplify Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2020
    American Express Platinum Edge Credit Card

    Enjoy $200 to spend on travel each year that can be used on eligible flights, hotels, care hire or experiences when booked through American Express Travel.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.74% p.a.
    $195
    Membership Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection,
    Account alerts by SMS
    Compare
    Go to site
    Details
  • Apply By 7 September 2021
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    Westpac Altitude Platinum

    Earn up to 60,000 bonus Qantas Points ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. $99 + $50 Annual Qantas Rewards card fee for the first year.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.49% p.a.
    $200 $149 in the first year
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    Bank of Melbourne Amplify Platinum

    Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
  • placeholder
    St.George Amplify Platinum

    Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    BankSA Amplify Platinum

    80,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Amplify Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    Bankwest Zero Platinum Mastercard

    This card boasts no annual fee and the option to pay with the Bankwest Halo payment ring. Introductory 0% p.a. on balance transfers for 26 months and then 14.99% p.a. thereafter (2% BT fee applies)

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    14.99% p.a.
    $0
    -
    Extended Warranty,
    Purchase Protection,
    Overseas Travel Insurance
    Compare
    Go to site
    Details

^See information about the Mozo Experts Choice Credit cards Awards

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Credit Card Resources

Views, news, tips and guides to help find the best credit card for you.

FAQ

Platinum Credit Cards

If you are looking for some card bling for your wallet, a platinum card could deliver the goods. There was a time when gold cards had all the executive status, but in recent years platinum cards have taken over and now make up the bulk of the premium card market.

Sitting at the top of the credit card pile are black and diamond cards. These cards have higher credit limits, more lucrative rewards programs and stricter eligibility criteria.

Most banks and credit card providers in Australia will have a platinum credit card range and like other card types, there is no standard criteria for what makes up a platinum card. But as platinum cards do generally have higher fees and interest rates than standard credit cards you’ll want to make sure you’re getting more value out of the card than just the thrill of flashing platinum coloured plastic about.

Let’s start with the basics.

What is a platinum credit card?

A platinum card works the same as other credit cards. You get to make purchases on credit and repay them at a later date. Platinum cards differ from other basic credit cards in that they will have added features like complimentary insurance and personal services like concierge. Many Platinum cards also have rewards programs attached which have better point earning rates than standard rewards cards.

Who can get a platinum credit card?

A platinum credit card is a premium level credit card offered to people with good credit history and higher income level (usually over $60,000 p.a.).

As platinum cardholders need to meet higher eligibility criteria, the credit limit on platinum credit cards is also much higher.

Will a platinum card be a good choice for me?

There is a reason why there are so many different types of credit cards now available - we all have different spending habits and lifestyle needs. Because platinum cards generally have higher interest rates and annual fees they are best for people who:

  • Pay off their balance in full each month. If you carry any kind of balance on your platinum card you could be paying more in interest than you get in benefits.
  • Travel. As platinum cards generally come with inbuilt overseas travel insurance, if you do more than one trip a year the cost of the card’s annual fee is likely to be cheaper than taking out a standalone travel insurance policy.
  • Love live events. One of the perks of a platinum card is getting exclusive discounts and pre-sale offers through either the Visa Premium or Mastercard Privileges programs. The programs cover everything from shopping, travel, entertainment, sports and dining so you’re bound to find an experience that will suit your interests.

How do platinum cards compare with standard credit cards?

Interest rates: The ongoing purchase interest rate of platinum cards tends to be much higher than on standard credit cards.

Annual fee: Annual fees of platinum cards with rewards programs are generally higher than basic cards.

Interest free days: You will get between 44 and 55 interest free days with a platinum credit card, which is the same as standard cards.

Foreign exchange fees: Most banks charge around 3% for foreign credit card transactions, so if you travel overseas or shop at international online stores frequently a platinum card with no foreign exchange fees, like our Experts Choice winners, could help you to save on these fees.

Insurance: Most platinum cards will include complimentary overseas travel insurance, though you must meet the eligibility criteria. Usually you will have to pay for your flight or a portion of your upfront travel costs on the card. Platinum cards also have extra insurances such as extended warranty, price protection and purchase cover insurance.

Rewards: You could accrue rewards points faster with a platinum card than a standard credit card. The points per dollar earning rate could be higher or you may get more bonus points on your purchases. Check out platinum rewards cards here.

Extras: You will have access to concierge services with a platinum card which could include discounts to special events or bookings. Standard cards don’t have this service.

Are there extra fees for Platinum cards?

Platinum credit cards have the same set of fees that come with regular credit cards. These include:

  • Annual fee. Some cards don’t have annual fees but most platinum cards range from $80 - $300 a year.
  • Cash advance fee. You will be charged a fee if you make a cash withdrawal using your credit card. This will be a percentage (between 2-3%) of the withdrawal amount or a flat fee depending on which one is higher.
  • Foreign exchange fee. The standard foreign exchange fee is around 3% on overseas credit card transactions.
  • Late payment fee. These fees can be as high as $30 if you make a neglect to pay the monthly minimum repayment amount before the due date.

A word on frequent flyer programs:

If the platinum credit card is direct linked to an airline frequent flyer program such as Qantas Frequent Flyer or Velocity Frequent Flyer you may have to pay a fee to join the airline program when you sign up for your card.

What information will I need to apply for a platinum credit card?

You’ll be able to apply for a platinum card online and in most instances you will be able to verify your identity online. Some of the identification information you might need will include:

  • passport
  • drivers licence or proof of identity card
  • medicare card
  • utility bill

In addition to this information you will need to provide information which confirms your income, current assets and liabilities.

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JP Pelosi
Managing editor

Jean-Paul (JP) Pelosi is an experienced journalist and editor who has contributed to many of Australia's leading media outlets including The Guardian, News.com.au, Domain.com.au, Investment Magazine and ANZ's Bluenotes. He has also edited news and communications for large financial services companies such as CommBank, Suncorp, Allianz and Amex. He loves a well told story and applying his editorial experience to content that readers both care about and enjoy. JP heads up our writing team.

Credit Card Reviews

ANZ Credit Card review
Overall 1/10
WORST BANKING EXPERIENCE

PLEASE DON'T BANK WITH ANZ. THE WORST BANKING EXPERIENCE YOU WILL EVERY HAVE IF YOU DO. THEY PROVIDE NO PROPER CUSTOMER SERVICE, RATHER JUST TAKE YOUR MONEY!

Read full review

PLEASE DON'T BANK WITH ANZ. THE WORST BANKING EXPERIENCE YOU WILL EVERY HAVE IF YOU DO. THEY PROVIDE NO PROPER CUSTOMER SERVICE, RATHER JUST TAKE YOUR MONEY!

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Please, New South Wales, reviewed 1 day ago
Coles Credit Card review
Overall 1/10
Fraudulent Transactions and Poor Customer Service

Fraudulent transactions after card destroyed,cancelled and not in use. Poor customer Service from overseas country and stressing the customers. They try the customers to pay extra money to them.When a card is cancelled and new card applied the payments are still done with the cancelled credit card.Absolute fraudulent activity . Need to escalate to a higher authority if this activity is not stopped.

Read full review

Fraudulent transactions after card destroyed,cancelled and not in use. Poor customer Service from overseas country and stressing the customers. They try the customers to pay extra money to them.When a card is cancelled and new card applied the payments are still done with the cancelled credit card.Absolute fraudulent activity . Need to escalate to a higher authority if this activity is not stopped.

Customer service
1/10
Trust
1/10
Less
R, Victoria, reviewed 1 day ago
ANZ Low Rate review
Overall 1/10
Warning: Self employed stay away

I have lodged an online application over 3 weeks ago and after two weeks an Assessor contacted me to provide further income information as I'm self-employed. I went to Narellan NSW Branch where I was greeted by unhelpful staff (" I don't have time to upload your documents and you need to make an appointment") There was at least 3 people inside the Branch waiting for a teller. When I finally received a call from another Assessor (overseas based) which I was not aware as it was a local Australia number calling me. I questioned him about how he worked out my Self-employed income and he could not explain, he kept telling me that you cannot afford this credit card. Warning to any self-employed not to apply through ANZ, unless you want to leave your decision to an untrained overseas staff (they do not understand our demographics). If it does not fit into the box, then you'll be declined!!

Read full review

I have lodged an online application over 3 weeks ago and after two weeks an Assessor contacted me to provide further income information as I'm self-employed. I went to Narellan NSW Branch where I was greeted by unhelpful staff (" I don't have time to upload your documents and you need to make an appointment") There was at least 3 people inside the Branch waiting for a teller. When I finally received a call from another Assessor (overseas based) which I was not aware as it was a local Australia number calling me. I questioned him about how he worked out my Self-employed income and he could not explain, he kept telling me that you cannot afford this credit card. Warning to any self-employed not to apply through ANZ, unless you want to leave your decision to an untrained overseas staff (they do not understand our demographics). If it does not fit into the box, then you'll be declined!!

Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Tony, New South Wales, reviewed 6 days ago

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