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. Start comparing platinum cards below.

RG146
Fact Checked
platinum credit cards

Platinum credit card comparisons on Mozo - last updated 19 April 2024

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure
  • American Express Platinum Edge Credit Card

    Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.

    Purchase rate
    23.99% p.a.
    Annual fee
    $195 $0 in the first year
    Rewards program
    Membership Rewards
    Privileges
    Extended Warranty,
    Account alerts by SMS,
    Card Purchase Cover ,
    Travel Inconvenience Cover
    Compare
    Details
  • Apply By 15 May 2024
    American Express Velocity Platinum Card

    Earn 100,000 bonus Velocity Points when you apply online by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.

    Purchase rate
    23.99% p.a.
    Annual fee
    $375
    Rewards program
    Velocity Frequent Flyer
    Privileges
    Account alerts by SMS,
    Card Purchase Cover,
    Travel Inconvenience Cover
    Compare
    Details
  • humm90 Platinum Mastercard

    0% balance transfer and no BT fees for 36 months. With 110 days interest free on your spending, this card is pretty unique in the market, and great for managing your daily spend. Plus, no foreign transaction fees overseas or online.

    Purchase rate
    0% p.a. for 3 months then 25.80% p.a.
    Annual fee
    $99
    Rewards program
    -
    Privileges
    Purchase Protection
    Compare
    Details
  • Apply By 30 Apr 2024
    Citi Premier

    120,000 bonus points when you spend $4,000 within 90 days from card approval. Complimentary features like travel insurance and concierge.

    Purchase rate
    21.49% p.a.
    Annual fee
    $300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year
    Rewards program
    Citi Rewards Program
    Privileges
    Concierge,
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Details
  • Suncorp Clear Options Platinum

    Receive 100,000 bonus Suncorp Credit Card Rewards Points when you spend $3,000 on Eligible Transactions in the first 90 days from approval (T&Cs apply). Be rewarded for your purchases and enjoy premium benefits such as complimentary insurances.

    Purchase rate
    20.74% p.a.
    Annual fee
    $129 $99 in the first year
    Rewards program
    Suncorp Rewards
    Privileges
    Concierge,
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Details
Search now

^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 providers we compare at Mozo

Save with deals from the following well-known brands and many more...

See more credit card providers

Credit card resources

Reviews, 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. 

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
RG146
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

28 Degrees Credit Card
Overall 6/10
Great Card, appalling service.

The card for overseas is fantastic. No fees and great conversion rates. However the customer service is worse that appalling. I've tried to get an additional card for my partner both on-line and via their support email and its been 3 weeks of bad non existent service. I wonder if I lost a card or had it stolen whether I'd get any help.

Read full review

The card for overseas is fantastic. No fees and great conversion rates. However the customer service is worse that appalling. I've tried to get an additional card for my partner both on-line and via their support email and its been 3 weeks of bad non existent service. I wonder if I lost a card or had it stolen whether I'd get any help.

Price
10/10
Features
10/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Martine, Queensland, reviewed 17 days ago
Commonwealth Bank Ultimate Awards Credit Card
Overall 10/10
Bella

Amazing providers as a 19 year old mum i ama thankful two have the opportunitys i have had with vom bank

Read full review

Amazing providers as a 19 year old mum i ama thankful two have the opportunitys i have had with vom bank

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Rose, Queensland, reviewed 17 days ago
ING Orange One Low Rate Credit Card
Overall 9/10
No annual fee and low interest rates!

Pros: - No annual fee - Low interest rate for purchases - Access to Apple Pay - Ability to transfer balances from one ING account to another Cons : - No rewards or cashback - Foreign transaction fees may apply

Read full review

Pros: - No annual fee - Low interest rate for purchases - Access to Apple Pay - Ability to transfer balances from one ING account to another Cons : - No rewards or cashback - Foreign transaction fees may apply

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Elizabeth, New South Wales, reviewed 17 days ago

More credit card reviews