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.
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19.99% p.a.
$149 $0 in the first year
CUA Platinum Rewards
Travel,
Insurance,
Purchase,
Protection
19.99% p.a.
$149 $0 in the first year
CUA Platinum Rewards
Travel,
Insurance,
Purchase,
Protection
0% p.a. for 15 months then 12.99% p.a.
$99 $49 in the first year
-
Travel Insurance,
Extended Warranty,
Purchase Protection
0% p.a. for 15 months then 12.99% p.a.
$99 $49 in the first year
-
Travel Insurance,
Extended Warranty,
Purchase Protection
Apply ByFebruary 24, 2021
19.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
Concierge,
Travel Insurance
19.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
Concierge,
Travel Insurance
Apply ByMarch 31, 2021
20.49% p.a.
$250
Altitude Rewards
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection
20.49% p.a.
$250
Altitude Rewards
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection
20.74% p.a.
$129
Suncorp Rewards
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing
20.74% p.a.
$129
Suncorp Rewards
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing
17.99% p.a.
$0
-
Extended Warranty,
Purchase Protection,
Overseas Travel Insurance
17.99% p.a.
$0
-
Extended Warranty,
Purchase Protection,
Overseas Travel Insurance
Hot DealCashback offer
12.99% p.a.
$99
-
Travel Insurance,
Extended Warranty,
Purchase Protection
0% p.a. for 17 months then 20.24% p.a.
$87 $0 when you spend over $20,000 p.a, $0 in the first year
-
Concierge,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
0% p.a. for 17 months then 20.24% p.a.
$87 $0 when you spend over $20,000 p.a, $0 in the first year
-
Concierge,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
Hot DealCashback offer
12.99% p.a.
$99
-
Travel Insurance,
Extended Warranty,
Purchase Protection
Apply ByJanuary 27, 2021
20.74% p.a.
$195
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
20.74% p.a.
$195
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
19.74% p.a.
$90
-
Concierge,
Travel,
Insurance,
Extended,
Warranty,
Purchase,
Protection
19.74% p.a.
$90
-
Concierge,
Travel,
Insurance,
Extended,
Warranty,
Purchase,
Protection
0% p.a. for 15 months then 10.99% p.a.
$69
-
Travel Insurance,
Extended Warranty,
Purchase Protection
0% p.a. for 15 months then 10.99% p.a.
$69
-
Travel Insurance,
Extended Warranty,
Purchase Protection
Hot DealCashback offer
12.99% p.a.
$99
-
Travel Insurance,
Extended Warranty,
Purchase Protection
Apply ByJanuary 27, 2021
20.74% p.a.
$395
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
20.74% p.a.
$395
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
20.24% p.a.
$295
Qantas Frequent Flyer
Concierge,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
20.24% p.a.
$295
Qantas Frequent Flyer
Concierge,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
19.74% p.a.
$99
Qantas Frequent Flyer
Travel Insurance,
Extended Warranty,
Purchase Protection
19.74% p.a.
$99
Qantas Frequent Flyer
Travel Insurance,
Extended Warranty,
Purchase Protection
Apply ByMarch 31, 2021
20.49% p.a.
$150 $99 in the first year
Altitude Rewards
Travel,
Insurance,
Extended,
Warranty,
Purchase,
Protection
20.49% p.a.
$150 $99 in the first year
Altitude Rewards
Travel,
Insurance,
Extended,
Warranty,
Purchase,
Protection
0% p.a. for 7 months then 19.74% p.a.
$99 $0 in the first year
Amplify Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection
0% p.a. for 7 months then 19.74% p.a.
$99 $0 in the first year
Amplify Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection
20.24% p.a.
$95
ANZ Rewards
Concierge,
Commission-free Travellers Cheques,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
20.24% p.a.
$95
ANZ Rewards
Concierge,
Commission-free Travellers Cheques,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing Scheme,
International Travel Insurance
^See information about the Mozo Experts Choice Credit cards Awards
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Views, news, tips and guides to help find the best credit card for you.
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.
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.
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.
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:
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.
Platinum credit cards have the same set of fees that come with regular credit cards. These include:
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.
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:
In addition to this information you will need to provide information which confirms your income, current assets and liabilities.
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Bad customer service. I wanted to change my credit limit recently as I incorrectly increased it but their policy states you can only increase your limit every 180 days so I have to wait another 180 days to change the limit. If you want to raise a complaint you have to physically post a letter and then the team leader of the customer service department wanted to argue with me that it takes the same amount of time as sending an e-mail.
Read full reviewBad customer service. I wanted to change my credit limit recently as I incorrectly increased it but their policy states you can only increase your limit every 180 days so I have to wait another 180 days to change the limit. If you want to raise a complaint you have to physically post a letter and then the team leader of the customer service department wanted to argue with me that it takes the same amount of time as sending an e-mail.
Less
All their online apps etc never work properly, well behind the times and you don’t see transactions until days after. The app always cuts out and goes blank.
Read full reviewAll their online apps etc never work properly, well behind the times and you don’t see transactions until days after. The app always cuts out and goes blank.
The card allows you to build up more Qantas points than any other card. Which is great for family holidays. The one things we have struggled with regarding the online service is that both card holders can't view all transactions made on the account. Only the "Primary" card holder can view all transactions on the online account and other account holders can then only view their account transactions not all transactions, which is very useful.
Read full reviewThe card allows you to build up more Qantas points than any other card. Which is great for family holidays. The one things we have struggled with regarding the online service is that both card holders can't view all transactions made on the account. Only the "Primary" card holder can view all transactions on the online account and other account holders can then only view their account transactions not all transactions, which is very useful.
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