Hey big spender... Platinum credit cards bring all the lovely perks of higher credit limits, super-charged rewards programs and concierge services. Of course, they tend to bring hefty interest rates, too, so you'll want to pay off that platinum card balance.
Read moreAside from the Gordon Gecko thrill of having a platinum credit card on your person, you could also have access to credit card rewards programs and accelerated points-per-dollar deals, special deals for dining and travel, as well as concierge services.
Not so long ago, you actually couldn't. Now, thanks to Mozo's world-first Rewards Revealer, you can find out the value of your credit spend for various frequent flyers, cash back, across the platinum credit card market.
Indeed you can. Once you've selected the right platinum credit card deal for you, simply hit the 'go to site' button to be transfered to the platinum provider.
Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
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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
19.99% p.a.
$149 $0 in the first year
Life Rich Rewards
Concierge,
Travel Insurance,
Purchase Protection
19.99% p.a.
$149 $0 in the first year
Life Rich Rewards
Concierge,
Travel Insurance,
Purchase Protection
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
0% p.a. for 15 months then 12.99% p.a.
$99
-
Travel Insurance,
Extended Warranty,
Purchase Protection
0% p.a. for 15 months then 12.99% p.a.
$99
-
Travel Insurance,
Extended Warranty,
Purchase Protection
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
20.74% p.a.
$450
Qantas Frequent Flyer
Travel Insurance,
Purchase Protection,
Account alerts by SMS
20.74% p.a.
$450
Qantas Frequent Flyer
Travel Insurance,
Purchase Protection,
Account alerts by SMS
17.99% p.a.
$0
-
Extended Warranty,
Purchase Protection,
Overseas Travel Insurance
17.99% p.a.
$0
-
Extended Warranty,
Purchase Protection,
Overseas Travel Insurance
20.74% p.a.
$295
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
20.74% p.a.
$295
Membership Rewards
Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
^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.
I have been a loyal Commonwealth Bank customer for 30 years, (with a savings account). I have had a credit card with Commonwealth Bank since 2007, The interest charges are too high, they don’t give you time to make payment before they charge you interest fees and over limit fees. They block your credit card if you go over the limit. Wouldn’t recommend them to anyone.
Read full reviewI have been a loyal Commonwealth Bank customer for 30 years, (with a savings account). I have had a credit card with Commonwealth Bank since 2007, The interest charges are too high, they don’t give you time to make payment before they charge you interest fees and over limit fees. They block your credit card if you go over the limit. Wouldn’t recommend them to anyone.
I have been with BOM for more than 10 years and it has been great but as soon as I have spotted an unauthorised transaction on the Visa account, I have contacted the fraud support to assist the case and believe or not I had to be out of pocket about $410 for something that I didn't authorise. The support was very aggressive and unprofessional, standing their ground, talking all over me, that I had to ask, can I please say something? after trying to have a polite conversation. I will now cancel my account and go elsewhere not related to this corporation because I suppose that it's the same support team handling the enquiries. I would never think that a bank can be so greedy and rather lose a long-term client than handle their issues the proper way. Also, the mobile app its clustered with glitches and maybe that is a reason that I got scammed as well. I also offered to send screenshots of the mobile app to show that this may have been the way that the account got hacked but they didn't want know and wash their hands with it and left me out of pocket even though they are insured on those type of transaction issues. I am waiting on the new card to pay off my balance and move on and no member of my family will have any more interaction with this bank. Thank god was only $410. Bad policies and practice to handle customer support.
Read full reviewI have been with BOM for more than 10 years and it has been great but as soon as I have spotted an unauthorised transaction on the Visa account, I have contacted the fraud support to assist the case and believe or not I had to be out of pocket about $410 for something that I didn't authorise. The support was very aggressive and unprofessional, standing their ground, talking all over me, that I had to ask, can I please say something? after trying to have a polite conversation. I will now cancel my account and go elsewhere not related to this corporation because I suppose that it's the same support team handling the enquiries. I would never think that a bank can be so greedy and rather lose a long-term client than handle their issues the proper way. Also, the mobile app its clustered with glitches and maybe that is a reason that I got scammed as well. I also offered to send screenshots of the mobile app to show that this may have been the way that the account got hacked but they didn't want know and wash their hands with it and left me out of pocket even though they are insured on those type of transaction issues. I am waiting on the new card to pay off my balance and move on and no member of my family will have any more interaction with this bank. Thank god was only $410. Bad policies and practice to handle customer support.
At application process they had my last name incorrectly spelt. I filled in a letter they asked for me to fill in to update my surname and they still didn't update my name or send out a correct card stating my actual correct surname. I was on the same annual income as the beginning of my initial application (I lowered my credit limit) and I asked for an increase some time later as I needed help for lawyer fees to settle my divorce and Skye wouldn't allow an increase, despite regular and ongoing repayments and having the same annual income. The staff would take up to even a week to respond and lack of customer service. At no point was I ever satisfied with customer service.
Read full reviewAt application process they had my last name incorrectly spelt. I filled in a letter they asked for me to fill in to update my surname and they still didn't update my name or send out a correct card stating my actual correct surname. I was on the same annual income as the beginning of my initial application (I lowered my credit limit) and I asked for an increase some time later as I needed help for lawyer fees to settle my divorce and Skye wouldn't allow an increase, despite regular and ongoing repayments and having the same annual income. The staff would take up to even a week to respond and lack of customer service. At no point was I ever satisfied with customer service.
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