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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.
Earn 1.5 Bendigo Rewards points for every dollar spent (T&Cs apply). Up to 55 days interest free, comprehensive travel insurance, purchase protection and extended warranty.
Earn 1.5 Bendigo Rewards points for every dollar spent (T&Cs apply). Up to 55 days interest free, comprehensive travel insurance, purchase protection and extended warranty.
Read our Mozo Review to learn more about the Platinum Rewards Credit Card
0% p.a. on balance transfers for 36 months with no balance transfer fee. Terms and Conditions apply. Mozo Experts Choice Premium Rewards and Balance Transfer Platinum Credit Card Winner 2020.
0% p.a. on balance transfers for 36 months with no balance transfer fee. Terms and Conditions apply. Mozo Experts Choice Premium Rewards and Balance Transfer Platinum Credit Card Winner 2020.
Read our Mozo Review to learn more about the Platinum Credit Card
Receive 50,000 Bonus Membership Rewards when you apply online by 1 February 2022, are approved and spend $1,500 on your new Card within the first 3 months. Enjoy a $200 credit on your Card when you spend $200 or more at David Jones on your new Card within the first 3 months.T&Cs apply. New Card Members only.
Receive 50,000 Bonus Membership Rewards when you apply online by 1 February 2022, are approved and spend $1,500 on your new Card within the first 3 months. Enjoy a $200 credit on your Card when you spend $200 or more at David Jones on your new Card within the first 3 months.T&Cs apply. New Card Members only.
Read our Mozo Review to learn more about the Platinum Edge Credit Card
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 February 24 2022.
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 February 24 2022.
Read our Mozo Review to learn more about the Amplify Qantas Platinum
130,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 24 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends February 24th 2022.
130,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 24 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends February 24th 2022.
Read our Mozo Review to learn more about the Amplify Rewards Platinum
Earn 70,000 Membership Reward Points or 35,000 Qantas Points when you apply online by 9 February 2022, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Platinum Card Members only.
Earn 70,000 Membership Reward Points or 35,000 Qantas Points when you apply online by 9 February 2022, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Platinum Card Members only.
Read our Mozo Review to learn more about the American Express Platinum Card
Receive 100,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only. Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend.
Receive 100,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only. Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend.
Read our Mozo Review to learn more about the Velocity Platinum Card
0% p.a. balance transfer for 25 months, $0 annual fee for the first year and also receive 1 rewards point for every dollar spent. Purchase protection insurance. Mozo Experts Choice Balance Transfer Platinum Credit Card Winner 2020^.
0% p.a. balance transfer for 25 months, $0 annual fee for the first year and also receive 1 rewards point for every dollar spent. Purchase protection insurance. Mozo Experts Choice Balance Transfer Platinum Credit Card Winner 2020^.
Read our Mozo Review to learn more about the Platinum Credit Card
Up to 60,000 bonus points (T&Cs apply). Also get 1 NAB reward point for every $1 spent on everyday purchases.
Up to 60,000 bonus points (T&Cs apply). Also get 1 NAB reward point for every $1 spent on everyday purchases.
Read our Mozo Review to learn more about the Rewards Platinum Card
Earn 35,000 Qantas Points or 70,000 Membership Rewards Points when you apply online by 9 February 2022, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Platinum Card Members only.
Earn 35,000 Qantas Points or 70,000 Membership Rewards Points when you apply online by 9 February 2022, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Platinum Card Members only.
Read our Mozo Review to learn more about the American Express Platinum Card
0% p.a. on balance transfers for 24 months (T&Cs apply).
0% p.a. on balance transfers for 24 months (T&Cs apply).
Read our Mozo Review to learn more about the Low Fee Platinum Card
^See information about the Mozo Experts Choice Credit cards Awards
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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.
If you get into financial hardship bad luck, they don't give a damn and will not help you even in the short term, they simply do not care! They are quick to charge you hefty fees though they are very good at that.
Read full reviewIf you get into financial hardship bad luck, they don't give a damn and will not help you even in the short term, they simply do not care! They are quick to charge you hefty fees though they are very good at that.
Exceptionally ridiculous interest rates, no customer service Australian bank withe big advertising and using Australian sentiment but with call centres in the Philippines be prepared to wait 45 minutes to an hour to talk to a foreigner. They love to charge overdue fees so wont let you now if your two days late or something else happens I've been in debt to them for 25 years never done me any favours and I've paid them 100,000$ in interest.
Read full reviewExceptionally ridiculous interest rates, no customer service Australian bank withe big advertising and using Australian sentiment but with call centres in the Philippines be prepared to wait 45 minutes to an hour to talk to a foreigner. They love to charge overdue fees so wont let you now if your two days late or something else happens I've been in debt to them for 25 years never done me any favours and I've paid them 100,000$ in interest.
Our money provider for over 40 years and I want no other ever.
Read full reviewOur money provider for over 40 years and I want no other ever.
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