Premium rewards cards
Does your lifestyle involve hitting the shops big time or boarding airplanes on a regular basis? You could be the perfect candidate for a premium rewards card. This page features all you need to know about premium plastic - from VIP services like airline lounge access and 24/7 concierge to complimentary insurance for purchases made on your card. Let’s get started!
Compare our top Platinum Cards below.
Platinum Credit Card Comparison Table - last updated January 28, 2021
CUA Platinum Credit Card
0% p.a. balance transfer, $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 2020^.
Purchase rate
Annual fee
Rewards program
Privileges
Estimated savings
19.99% p.a.$149 $0 in the first yearCUA Platinum RewardsTravel Insurance,
Purchase ProtectionCompareComparePlatinum Credit Card
0% p.a. balance transfer, $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 2020^.
- Intro rate
- -
- Ongoing Purchase rate
- 19.99% p.a.
- Balance transfer rate
- 0% p.a. for 20 months and then 21.74% p.a.
- Cash advance
- 21.74% p.a.
- Interest free days on purchases
- 55
- Annual fee
- $149 $0 in the first year
- Cash advance fee
- 2.00%, Min $3.50
- Foreign exchange margin
- 3.40%
- Late payment
- $12.50
- Additional card fee
- $0.00
- Program
- CUA Platinum Rewards
Read our Mozo Review to learn more about the Platinum Credit Card
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
Estimated savings
10.99% p.a.$69 $0 in the first year-Travel Insurance,
Extended Warranty,
Purchase ProtectionCompareCompareBreeze 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.
- Intro rate
- -
- Ongoing Purchase rate
- 10.99% p.a.
- Balance transfer rate
- 0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)
- Cash advance
- 21.99% p.a.
- Interest free days on purchases
- 55
- Annual fee
- $69 $0 in the first year
- Cash advance fee
- 2%, Min $4.00
- Foreign exchange margin
- 0%
- Late payment
- $25.00
- Additional card fee
- $0.00
- Program
- -
Read our Mozo Review to learn more about the Breeze Platinum Mastercard
St.George Amplify Platinum
Get 0% p.a. for 22 months on balance transfers requested at card application. 1.5% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. Bonus 0% p.a. on purchases for 7 months. Rate then switches to applicable variable purchase rate. Get your first year annual card fee waived for the first year ($99 thereafter). New cards only, Eligibility criteria and T&Cs apply. Offer ends February 9th 2021.
Purchase rate
Annual fee
Rewards program
Privileges
Estimated savings
0% p.a. for 7 months then 19.74% p.a.$99 $0 in the first yearAmplify RewardsTravel Insurance,
Extended Warranty,
Purchase ProtectionCompareCompareAmplify Platinum
Get 0% p.a. for 22 months on balance transfers requested at card application. 1.5% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. Bonus 0% p.a. on purchases for 7 months. Rate then switches to applicable variable purchase rate. Get your first year annual card fee waived for the first year ($99 thereafter). New cards only, Eligibility criteria and T&Cs apply. Offer ends February 9th 2021.
- Intro rate
- 0% p.a. for 7 months
- Ongoing Purchase rate
- 19.74% p.a.
- Balance transfer rate
- 0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Annual fee
- $99 $0 in the first year
- Cash advance fee
- 2%, Min $2.50
- Foreign exchange margin
- 3.00%
- Late payment
- $15.00
- Additional card fee
- $0.00
- Program
- Amplify Rewards
Read our Mozo Review to learn more about the Amplify Platinum
- Apply By February 24, 2021
Qantas Money Qantas Premier Platinum
0% p.a. for 18 months on Balance Transfers, reverts to cash advance rate thereafter. Earn up to 100,000 bonus Qantas Points when spending $4,000 or more on eligible purchases (T&Cs apply).
Purchase rate
Annual fee
Rewards program
Privileges
Estimated savings
19.99% p.a.$299 $199 in the first yearQantas Frequent FlyerConcierge,
Travel InsuranceCompareCompareQantas Premier Platinum
0% p.a. for 18 months on Balance Transfers, reverts to cash advance rate thereafter. Earn up to 100,000 bonus Qantas Points when spending $4,000 or more on eligible purchases (T&Cs apply).
- Intro rate
- -
- Ongoing Purchase rate
- 19.99% p.a.
- Balance transfer rate
- 0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)
- Cash advance
- 21.99% p.a.
- Interest free days on purchases
- 55
- Annual fee
- $299 $199 in the first year
- Cash advance fee
- 3%, min $3.00
- Foreign exchange margin
- 3.00%
- Late payment
- $30.00
- Additional card fee
- $50.00
- Program
- Qantas Frequent Flyer
Read our Mozo Review to learn more about the Qantas Premier Platinum
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
Annual fee
Rewards program
Privileges
Estimated savings
20.74% p.a.$129Suncorp RewardsConcierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed PricingCompareCompareClear 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.
- Intro rate
- -
- Ongoing Purchase rate
- 20.74% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- 21.99% p.a.
- Interest free days on purchases
- 55
- Annual fee
- $129
- Cash advance fee
- 3.50%, min $3.50
- Foreign exchange margin
- 3.40%
- Late payment
- $30.00
- Additional card fee
- $0.00
- Program
- Suncorp Rewards
Read our Mozo Review to learn more about the Clear Options Platinum
Types of premium cards
Premium credit cards are not only for the mega rich. In fact, anyone with an annual income that hits or exceeds the minimum yearly requirement ($35,000+) and has a polished credit history can apply for one too. Let’s look at the different versions of premium cards out there to see what you could potentially store in your wallet:
Gold cards
Think of these cards as step one on the premium rewards ladder. They’ll give you more opportunities to earn rewards or frequent flyer points than your standard piece of plastic, but for a higher annual fee. As for features, some gold cards listed on our database offer free travel insurance for you and the whole family, purchase security insurance and the option for you to add extra cardholders. One limitation you may come across with a gold card is a cap on the number of points you can earn.
Platinum cards
These are the most common type of premium cards in the market, with most banks and credit providers having a platinum card offering. There isn’t a standard platinum card but common features of these cards will include a rewards program (either with airline frequent flyer club membership, or rewards like cashback, shopping or travel rewards), free insurance and concierge. Keep your eyes peeled for bonus point offers available to new cardholders too as these can help you to redeem rewards fast! As expected, annual fees on platinum card fees can climb high in return for these benefits.
Black and Diamond cards
At the high end are black credit cards which usually involve most, if not all of the premium card features we’ve mentioned above and more. These cards have annual fees in the hundreds, but for this you’ll get a range of perks from priority passes at airport lounges to concierge services on demand. Partner networks are larger too, giving you more room to shop for bonus points. Most black credit cards in the market will have a minimum income requirement of $75k and over.
What are the benefits of a premium rewards card?
Now you’re clued up on the tiers of premium cards out there, let’s take a closer look at the perks...
- Generous rewards earning rates: Premium rewards credit cards are almost guaranteed to give you more bang for your buck when it comes to the earn rate for each dollar you spend! For instance, one card in our database will give you up to 3 points for every dollar you spend, while other rewards cards at the lower end of the scale may only offer 0.5 of a point on the same frequent flyer program.
- Bonus points when you sign up: A quick glance at our rewards card hub demonstrates that there are plenty of bonus point signup deals to choose from with premium perks. But compare redemption rates as not all cards are equal and check if you need to spend a certain amount within a specified time-frame to unlock the points.
- Attractive frequent flyer programs to connect with: Whether you have a Qantas Frequent Flyer membership, or one with Virgin’s Velocity Frequent Flyer program, chances are you can link your premium card to it, and most other airline programs out there too.
- Rewards choices: You’re spoilt for choice when it comes to premium rewards cards, as most allow you to redeem points on flights, online shopping, cashback offers and the list goes on!
- Complimentary insurances: It depends on the product you’re looking at, but many premium cards throw insurance freebies into the mix, from comprehensive travel protection to rental car insurance.
- Higher credit limits: Another thing you’ll find with premium cards is that credit limits are higher than regular plastic, and there are minimum credit limit requirements too. For instance, credit limits on premium cards start at around $4k and can go up to $100K or more.
Are there any traps to watch out for?
Like most credit cards, there are always conditions you need to beware of, so you don’t get stung financially or wind up with a poor credit rating. They include...
High annual fees
Did you know that one card on our site has a yearly fee of $749? But the key with paying any annual fee is to ensure that you’re getting value for the amount. So long as you receive optimal rewards or benefits like free travel insurance in return, the cost won’t matter too much. Keep in mind, these fees are required to be paid upfront and every anniversary after that.
Points caps
Depending on the card, your provider may place a limit on the number of points you can earn or have accrued in your points balance at any one time. The good news is, some premium cards in the market allow you to earn as many as you like!
Points expiry dates
Just watch out for the frequent flyer or membership points with expiry dates, so you don’t miss out on rewards redemption.
High interest rates
So long as you pay your balance in full and on time each month, you’ll be shielded from credit card interest rates. But make no mistake - premium card purchase rates can climb to the early twenties!

Key features with premium cards:
Ready to join the premium card crew and start enjoying those rewards? We’ll leave you with some final things to remember.
1. Purchase rate: According to the Mozo database at the time of writing, the highest rewards card purchase rate is a steep 22.74% so be sure that you pay your balance off in full each month to avoid high interest charges!
2. Interest free days: The number of days you have before interest kicks in with premium credit cards will usually range from 44 to 55 days.
3. Cash advance rate: If you withdraw money from an ATM in Australia or overseas with your credit card you’ll pay a cash advance rate, which at the time of writing will be between 13.20% to 29.49%. Also be aware that with cash advances you don’t get any interest free days, and will also be charged a fee which is usually a percentage of the cash amount.
4. Foreign exchange fee: Regular jet setter? If you plan on using your premium rewards card in other currencies abroad, you’ll pay a foreign exchange margin on top of the purchase rate, which is an average 2.91%. Some cards are specifically designed with travellers in mind, and charge lower fees so look for one that has low or no foreign exchange fees.
5. Minimum income requirement: Premium cards are designed for those with a certain income and annual credit card spend. Keep this in mind when you’re looking for a premium card, as some providers require that you be on a $100k salary, while others will approve applicants on $30k.
Now you’re no longer new to the world of premium rewards cards, visit our rewards hub to compare top deals. Alternatively, let Mozo’s rewards revealer tool do the matchmaking for you based on your estimated annual spend, in just one minute.
^See information about the Mozo Experts Choice Credit Cards Awards
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