platinum credit cards

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 16 April 2021

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
  • placeholder
    Bankwest Breeze Platinum Mastercard

    Streamline your budget with 0% p.a on balance transfers for 26 months (2% BT fee applies) then 10.99% thereafter. No annual fee for the first year. Awarded two Mozo Experts Choice Awards in 2020 for best Low Rate Platinum Credit Card and best Balance Transfer Platinum Credit Card^. Limited time only. Other fees, T&Cs apply. New Mastercard Breeze customers only.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    10.99% p.a.
    $69 $0 in the first year
    -
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    NAB Qantas Rewards Signature Card

    NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.99% p.a.
    $395 $295 in the first year
    Qantas Frequent Flyer
    Concierge,
    Extended Warranty,
    Purchase Protection,
    International Travel Insurance,
    Transit Accident Insurance,
    Interstate Flight Inconvenience Insurance,
    Rental Vehicle Excess in Australia Insurance
    Compare
    Go to site
    Details
  • Apply By 7 September 2021
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    Westpac Altitude Platinum

    Earn up to 80,000 bonus Altitude Points ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. Only $99 annual card fee for the first year, $150 thereafter.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.49% p.a.
    $150 $99 in the first year
    Altitude Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    St.George Vertigo Platinum

    St. George Vertigo Platinum credit card is a great value platinum card which receive $300 cashback, available if you spend $900 on eligible purchases within 90 days of being approved for the card (apply by 30 June 2021).

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    12.99% p.a.
    $99
    -
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    NAB Low Fee Platinum Card

    0% p.a. on balance transfers for 24 months (T&Cs apply).

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $90
    -
    Concierge,
    Extended Warranty,
    Purchase Protection,
    International Travel Insurance,
    Transit Accident Insurance,
    Interstate Flight Inconvenience Insurance,
    Rental Vehicle Excess in Australia Insurance
    Compare
    Go to site
    Details
  • placeholder
    St.George Amplify Platinum

    80,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Amplify Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2020
    American Express Platinum Edge Credit Card

    Enjoy $200 to spend on travel each year that can be used on eligible flights, hotels, care hire or experiences when booked through American Express Travel.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.74% p.a.
    $195
    Membership Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection,
    Account alerts by SMS
    Compare
    Go to site
    Details
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    Bankwest Zero Platinum Mastercard

    This card boasts no annual fee and the option to pay with the Bankwest Halo payment ring. Plus, with no foreign transaction fees and complimentary travel insurance it's a good pick for travel.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    17.99% p.a.
    $0
    -
    Extended Warranty,
    Purchase Protection,
    Overseas Travel Insurance
    Compare
    Go to site
    Details
  • Apply By 3 May 2021
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    Mozo Experts Choice 2020
    American Express Explorer® Credit Card

    Receive 90,000 Bonus Membership Rewards Points and get $300 back when you apply online by 3 May 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.74% p.a.
    $395
    Membership Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection,
    Account alerts by SMS
    Compare
    Go to site
    Details
  • Apply By 7 September 2021
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    Westpac Altitude Platinum

    Earn up to 60,000 bonus Qantas Points ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. $99 + $50 Annual Qantas Rewards card fee for the first year.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    20.49% p.a.
    $200 $149 in the first year
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    ING Orange One Rewards Platinum Credit Card

    Get up to $30 a month cashback on your spend per account, and, if you meet the eligibility criteria, no ING International Transaction Fees when you shop overseas or online. Automatic repayments from eligible ING accounts.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    16.99% p.a.
    $149
    Cashback Rewards
    Travel Insurance
    Compare
    Go to site
    Details
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    Bank of Melbourne Amplify Platinum

    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 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
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    St.George Amplify Platinum

    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 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Qantas Frequent Flyer
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details
  • placeholder
    BankSA Amplify Platinum

    80,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Purchase rate
    Annual fee
    Rewards program
    Privileges
    19.74% p.a.
    $99
    Amplify Rewards
    Travel Insurance,
    Extended Warranty,
    Purchase Protection
    Compare
    Go to site
    Details

^See information about the Mozo Experts Choice Credit cards Awards

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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.

FAQ

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.

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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

ANZ Rewards Platinum review
Overall 1/10
Super disappointed with ANZ services!

Online ID check was absolutely a joke. I inserted personal details and reference number then it popped up with no reference found. I ring up CS, over an hour waiting, next thing I was told that I need to visit a branch. When I show up in branch, the customer manager told me that I need an appointment before they can look at my issue. Anyway, to cut the story short. The branch sends me back to the call centre, then long wait before someone answers and then tells me to go back to the branch. I ended up cancelling the card before even it activated. Super disappointed with ANZ services!

Read full review

Online ID check was absolutely a joke. I inserted personal details and reference number then it popped up with no reference found. I ring up CS, over an hour waiting, next thing I was told that I need to visit a branch. When I show up in branch, the customer manager told me that I need an appointment before they can look at my issue. Anyway, to cut the story short. The branch sends me back to the call centre, then long wait before someone answers and then tells me to go back to the branch. I ended up cancelling the card before even it activated. Super disappointed with ANZ services!

Price
1/10
Features
5/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
J, Queensland, reviewed about 18 hours ago
Latitude GO Mastercard review
Overall 2/10
High fees not worth paying to just keep account.

I simply dislike Latitude gomaster card and will not recommend this to someone who wants to use this as an option to take advantage of no interest option. First I set BPay option to pay more frequently only to realise each time a payment is made you get get charged a payment processing fee on top of the standard account keeping monthly fee of $5.95! Also I just noticed in my online statement the account keeping fee of $5.95 will be increased to $8.95 each month as of April 2021 which is a whopping 50% increase! So this isn't really for those who wants to capitalise on no interest option as you end up paying at least $10 each month on fees regardless.

Read full review

I simply dislike Latitude gomaster card and will not recommend this to someone who wants to use this as an option to take advantage of no interest option. First I set BPay option to pay more frequently only to realise each time a payment is made you get get charged a payment processing fee on top of the standard account keeping monthly fee of $5.95! Also I just noticed in my online statement the account keeping fee of $5.95 will be increased to $8.95 each month as of April 2021 which is a whopping 50% increase! So this isn't really for those who wants to capitalise on no interest option as you end up paying at least $10 each month on fees regardless.

Price
1/10
Features
3/10
Customer service
2/10
Convenience
4/10
Trust
2/10
Less
Cession, Queensland, reviewed about 18 hours ago
Latitude GO Mastercard review
Overall 1/10
Useless customer service and online options.

Besides the fee for every repayment made what really annoyed me was the 4 requests I made to reduce my credit limit from $18,000 to $5000, none of which were ever processed which does affect other loans. I would really not recommend this product as it is useless to alter any features on it let alone trying to close the account. Save your time and just save your own money for a purchase.

Read full review

Besides the fee for every repayment made what really annoyed me was the 4 requests I made to reduce my credit limit from $18,000 to $5000, none of which were ever processed which does affect other loans. I would really not recommend this product as it is useless to alter any features on it let alone trying to close the account. Save your time and just save your own money for a purchase.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Lachlan, Victoria, reviewed 10 days ago

More credit card reviews