RateCity.com.au
Advertisement
American Express

American Express Platinum Edge Credit Card

Go to Site

For more visit

American Express
Medium platinum edge credit card

Good For

Rewards Balance Transfer Offers Perks Overseas Spending Frequent Flyer Rewards Max Interest Free Days

  • Type: American Express
  • Level: Platinum

All Offers

Balance Transfers Offers 0% p.a. for 12 months then 20.74%
1% balance transfer fee
Introductory Offers N/A
Special Offers N/A

Rates & Fees

Ongoing Purchase Interest Rate 20.74% p.a
Annual Fee $195
Maximum free days Up to 55
Late Payment Fee $30
Over Limit Fee $15

Overseas Spending

Currency Conversion Fee 3%
Overseas ATM Charges N/A
Estimated ATM Cost for AU$300 withdrawal $9.00

Frequent Flyer Rewards

Points per $1 spent 0.75
Partners Emirates, Velocity, KrisFlyer
Annual Flights Earned 2.9 SYD-MEL return flights ($195 in annual fees)

Rewards

Points per $1 spent 1
Rewards Available Frequent Flyer, Shopping, Cashback & more
Value of Rewards $249.44 after $195 annual fees
Additional Fee for Reward Card $0

Perks

Travel Insurance Up to 180 days
International & Domestic
VIP Perks
  • Extended warranty

Repayment Details

$ Minimum Repayment $30
% Minimum Repayment 2.5%

Application Requirements

Minimum Credit Limit $3,000
Maximum Credit Limit $50,000

Rewards credit cards are made to incentivise big spending and extravagant shopping trips by customers. While they may not be ideal for cardholders on a budget, for those who like to splash out and swipe, they can be a great way to get a lot of something for an equal amount of nothing.

The American Express Platinum Edge Credit Card may be a good fit for anyone whose ambition is to see their rewards point tally climb higher and higher. From travel rewards to gift cards to special VIP bonuses, reward card enthusiasts will find much to like in the Platinum Edge credit card.

The only trick is balancing the temptation to spend and earn rewards against your personal finances. After all, big rewards mean a correspondingly big interest rate and big fees.

The Amex Platinum Edge credit card rewards

The rewards system on the Amex Platinum Edge credit card is the main reason cardholders will be attracted to this product. Ownership of the card provides complimentary enrolment in the Membership Rewards Ascent program, that would otherwise cost $80 a year.

Used right, cardholders can earn substantially more credit card airline reward points with the Platinum Edge card than with other reward credit cards. The point system breaks down this way:

  • 3 points per $1 spent at major supermarkets, such as Safeway, Woolworths, Coles and BI-LO
  • 2 points per $1 spent at major petrol stations, such as Shell, BP, Caltex Woolworths and Safeway Petrol
  • 1 point per $1 spent on all other purchases
  • 0.5 points per $1 spent on utilities, telecommunication providers, government bodies and insurance (unless provided by American Express)

Customers who start spending early can benefit in a big way from the Amex Platinum Edge credit card.

When you've racked up enough, these points can then be redeemed for:

  • Flights from nine airline programs, including Air New Zealand Airpoints, Emirates Skywards or Cathay Pacific Asia Miles
  • Gift cards with more than 20 different partners1
  • Credit to pay off the balance of your card
  • Experiences with Ticketmaster

Savvy buyers should note that the opportunity to add a supplementary card for family at no extra charge means these credit card airline reward points can be earned even faster.

Added bonuses with the Amex Platinum Edge credit card

Along with the chance to redeem points for a host of rewards, cardholders can also look forward to some other notable extras with the Amex Platinum Edge credit card. All account holders receive $200 Travel Credit each year.

When they do travel, cardholders won't need to worry about purchasing cover. Paying for travel through the card comes with free travel insurance, both within Australia and overseas. This cover includes:

  • Overseas medical emergency expenses cover worth up to $2.5 million
  • Personal liability cover up to $1 million
  • Travel cancellation cover worth up to $10,000; and more

Finally, as with other American Express reward credit cards, cardholders can access their account via the internet wherever they are, whenever they wish. They'll even be able to use this service to organise their card-related finances, by setting up reminders for payments, establishing schedule payments and reviewing transactions.

Fees, charges and stipulations

Rewards like this don't come cheap, and the Amex Platinum Edge credit card requires cardholders to spend more than the average credit card does:

  • A $195 annual fee
  • A 20.74 percent interest rate on purchases

To qualify for the Amex Platinum Edge credit card, applicants will need a pre-tax income of at least $50,000 and have a spotless credit history with no bad debt or payment defaults. Self-employed applicants will also need to have been trading for at least 18 months, or a year if holding an existing American Express card.

More about American Express

American Express offers a wide range of competitive credit card options for everyday personal and business spending. All their credit cards include perks and reward benefits for users. More merchants than ever before are choosing to accept American Express in Australia, allowing users to build up reward points fast. For travellers, a frequent flyer card means they can earn Qantas or Velocity Points on every day purchases and other benefits, such as travel insurance. Big spenders can treat themselves with a Platinum Card, allowing for accelerated rates on reward point categories. No matter what type of spender you are, American Express has a card just for you.

Compare and discover the lowest fees on credit cards.