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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.
Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply by 31 May and are approved. Offer extended. T&Cs apply. New Card Members only.
Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply by 31 May and are approved. Offer extended. 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.
Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). New cards only, Eligibility criteria and T&Cs apply.
Read our Mozo Review to learn more about the Amplify Qantas Platinum
100,000 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). $29 First Year Card Fee ($99 2nd year card fee) + Score up to $27.50 per month cashback on Kayo access for 12 months. New cards only, Eligibility criteria and T&Cs apply.
100,000 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). $29 First Year Card Fee ($99 2nd year card fee) + Score up to $27.50 per month cashback on Kayo access for 12 months. New cards only, Eligibility criteria and T&Cs apply.
Read our Mozo Review to learn more about the Amplify Rewards Platinum + Kayo Offer
Earn up to 130,000 bonus Altitude Points ($3k min. spend in the first 90 days on eligible purchases). 0% p.a. for 24 months on balance transfers requested at card application. 1% BT fee applies (rate reverts to the variable cash advance rate after). Discounted annual card fee of $49 for the first year ($150 thereafter). New Cards only. T&C's and exclusions apply.
Earn up to 130,000 bonus Altitude Points ($3k min. spend in the first 90 days on eligible purchases). 0% p.a. for 24 months on balance transfers requested at card application. 1% BT fee applies (rate reverts to the variable cash advance rate after). Discounted annual card fee of $49 for the first year ($150 thereafter). New Cards only. T&C's and exclusions apply.
Read our Mozo Review to learn more about the Altitude Platinum
Receive 120,000 bonus Velocity Points when you apply online, are approved, and spend $3,500 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 120,000 bonus Velocity Points when you apply online, are approved, and spend $3,500 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
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (100k yr 1, 100k yr 2) when you spend $12k on eligible purchases each year. New cards only, Eligibility criteria and T&Cs apply. Offer ends June 30th 2022.
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (100k yr 1, 100k yr 2) when you spend $12k on eligible purchases each year. New cards only, Eligibility criteria and T&Cs apply. Offer ends June 30th 2022.
Read our Mozo Review to learn more about the Amplify Rewards Signature
Earn up to 75,000 bonus Qantas Points ($4k min. spend in the first 90 days on eligible purchases). 0% p.a. for 24 months on balance transfers requested at card application. 1% BT fee applies. $49 First Year Annual fee and Rewards fee. New cards only. T&C's and exclusions apply.
Earn up to 75,000 bonus Qantas Points ($4k min. spend in the first 90 days on eligible purchases). 0% p.a. for 24 months on balance transfers requested at card application. 1% BT fee applies. $49 First Year Annual fee and Rewards fee. New cards only. T&C's and exclusions apply.
Read our Mozo Review to learn more about the Altitude 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.
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.
Read our Mozo Review to learn more about the Amplify Rewards Platinum
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 2021^.
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 2021^.
Read our Mozo Review to learn more about the Platinum Credit Card
Receive $450 back when you apply online by 29 June 2022, are approved and spend $1,500 outside David Jones on your new Card within the first 3 months. Available to new David Jones American Express Platinum Card Members only.
Receive $450 back when you apply online by 29 June 2022, are approved and spend $1,500 outside David Jones on your new Card within the first 3 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 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 $450 back when you apply online by 29 June 2022, are approved and spend $1,500 outside David Jones on your new Card within the first 3 months. Available to new David Jones American Express Platinum Card Members only.
Receive $450 back when you apply online by 29 June 2022, are approved and spend $1,500 outside David Jones on your new Card within the first 3 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
Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). 0% Balance Transfer for 24 months (1% BT fee). New cards only, Eligibility criteria and T&Cs apply.
Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). 0% Balance Transfer for 24 months (1% BT fee). New cards only, Eligibility criteria and T&Cs apply.
Read our Mozo Review to learn more about the Amplify Rewards Platinum
NABs fastest way to earn Qantas Points. 120,000 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.
NABs fastest way to earn Qantas Points. 120,000 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.
Read our Mozo Review to learn more about the Qantas Rewards Signature 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.
I find ANZ a very middle ground bank. They have been good to me, although I felt like when I was hacked, I needed to prove that I was not in 3 states at once. ANZ is basic, and I have heard many people say they need to jump through hoops to achieve anything with them.
Read full reviewI find ANZ a very middle ground bank. They have been good to me, although I felt like when I was hacked, I needed to prove that I was not in 3 states at once. ANZ is basic, and I have heard many people say they need to jump through hoops to achieve anything with them.
The discovery card makes it really easy to earn Qantas points for my everyday expenses. No fee makes it even better
Read full reviewThe discovery card makes it really easy to earn Qantas points for my everyday expenses. No fee makes it even better
Trustworthy bank. Very happy with their customer service.
Read full reviewTrustworthy bank. Very happy with their customer service.
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