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 November 25, 2020

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  • Thumbnail icon for CUA
    mozo-experts-choice-2020
    CUA Platinum Credit Card

    19.99% p.a.

    $149 $0 in the first year

    CUA Platinum Rewards

    Travel,
    Insurance,
    Purchase,
    Protection

      Compare
    Details
  • Thumbnail icon for St.George
    mozo-experts-choice-2020
    St.George Vertigo Platinum

    0% p.a. for 15 months then 12.99% p.a.

    $99 $49 in the first year

    -

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Apply ByFebruary 24, 2021

    Thumbnail icon for Qantas Money
    Qantas Money Qantas Premier Platinum

    19.99% p.a.

    $299 $199 in the first year

    Qantas Frequent Flyer

    Concierge,
    Travel Insurance

      Compare
    Details
  • Apply ByMarch 31, 2021

    Thumbnail icon for Westpac
    Westpac Altitude Black

    20.49% p.a.

    $250

    Altitude Rewards

    Concierge,
    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Thumbnail icon for Suncorp
    Suncorp Clear Options Platinum

    20.74% p.a.

    $129

    Suncorp Rewards

    Concierge,
    Travel Insurance,
    Extended Warranty,
    Purchase Protection,
    Guaranteed Pricing

      Compare
    Details
  • Thumbnail icon for Bankwest
    Bankwest Zero Platinum Mastercard

    17.99% p.a.

    $0

    -

    Extended Warranty,
    Purchase Protection,
    Overseas Travel Insurance

      Compare
    Details
  • Hot DealCashback offer

    Thumbnail icon for Bank of Melbourne
    Bank of Melbourne Vertigo Platinum

    12.99% p.a.

    $99

    -

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Thumbnail icon for ANZ
    mozo-experts-choice-2020
    ANZ Platinum

    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

      Compare
    Details
  • Hot DealCashback offer

    Thumbnail icon for St.George
    mozo-experts-choice-2020
    St.George Vertigo Platinum - Cashback Offer

    12.99% p.a.

    $99

    -

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Apply ByJanuary 27, 2021

    Thumbnail icon for American Express
    mozo-experts-choice-2020
    American Express Platinum Edge Credit Card

    20.74% p.a.

    $195

    Membership Rewards

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

      Compare
    Details
  • Thumbnail icon for NAB
    NAB Low Fee Platinum Card

    19.74% p.a.

    $90

    -

    Concierge,
    Travel,
    Insurance,
    Extended,
    Warranty,
    Purchase,
    Protection

      Compare
    Details
  • Thumbnail icon for Bankwest
    Bankwest Breeze Platinum Mastercard

    0% p.a. for 15 months then 10.99% p.a.

    $69

    -

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Hot DealCashback offer

    Thumbnail icon for BankSA
    BankSA Vertigo Platinum

    12.99% p.a.

    $99

    -

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Apply ByJanuary 27, 2021

    Thumbnail icon for American Express
    mozo-experts-choice-2020
    American Express Explorer® Credit Card

    20.74% p.a.

    $395

    Membership Rewards

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

      Compare
    Details
  • Thumbnail icon for ANZ
    mozo-experts-choice-2020
    ANZ Frequent Flyer Platinum

    20.24% p.a.

    $295

    Qantas Frequent Flyer

    Concierge,
    Extended Warranty,
    Purchase Protection,
    Guaranteed Pricing Scheme,
    International Travel Insurance

      Compare
    Details
  • Thumbnail icon for Bank of Melbourne
    Bank of Melbourne Amplify Platinum

    19.74% p.a.

    $99

    Qantas Frequent Flyer

    Travel Insurance,
    Extended Warranty,
    Purchase Protection

      Compare
    Details
  • Apply ByMarch 31, 2021

    Thumbnail icon for Westpac
    Westpac Altitude Platinum

    20.49% p.a.

    $150 $99 in the first year

    Altitude Rewards

    Travel,
    Insurance,
    Extended,
    Warranty,
    Purchase,
    Protection

      Compare
    Details
  • Thumbnail icon for BankSA
    BankSA Amplify Platinum

    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

      Compare
    Details
  • Thumbnail icon for ANZ
    mozo-experts-choice-2020
    ANZ Rewards Platinum

    20.24% p.a.

    $95

    ANZ Rewards

    Concierge,
    Commission-free Travellers Cheques,
    Extended Warranty,
    Purchase Protection,
    Guaranteed Pricing Scheme,
    International Travel Insurance

      Compare
    Details

^See information about the Mozo Experts Choice Credit cards Awards

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.

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.

Picture of JP Pelosi
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

American Express Qantas Discovery Card review
Overall 1/10
Bad customer service.

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 review

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.

Less
Natasha, New South Wales reviewed about 8 hours ago
Bank of Queensland Platinum Visa Credit Card review
Overall 1/10
Pass. I will be going elsewhere.

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 review

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.

Price
7/10
Features
6/10
Customer service
8/10
Convenience
2/10
Trust
6/10
Less
Jeff, Western Australia reviewed about 8 hours ago
Qantas Money Qantas Premier Platinum review
Overall 7/10
Great for points, online needs improvements

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 review

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.

Price
7/10
Features
8/10
Customer service
8/10
Convenience
7/10
Trust
8/10
Less
Nicole, Queensland reviewed 1 day ago