American Express

David Jones Platinum Card (Membership Rewards)

Purchase Rate

Purchase Rate

20.74%

Balance Transfer Rate

Balance Transfer Rate

-

Annual Fee

Annual Fee

$295

Max Free Days

Max Free Days

44

Late Payment Fee

$30

Purchase Rate

Purchase Rate

20.74%

Balance Transfer Rate

Balance Transfer Rate

-

Annual Fee

Annual Fee

$295

Max Free Days

Max Free Days

44

Late Payment Fee

$30

Pros and Cons

Pros and Cons

  • Rewards Available through Amex Membership Rewards (David Jones)
  • Bonus 30000 points subject to eligibility conditions
  • Apple Pay, Google Pay and Samsung Pay available
  • Free domestic travel insurance
  • Free international travel insurance
  • Free supplementary cards
  • Purchase protection insurance
  • Extended warranty
  • Special events
  • Airport lounge
  • No balance transfer
  • Does not offer any complimentary insurance covers
  • Late payment fee

American Express Features and Fees

American Express Features and Fees

Details

Card Level

Platinum

Card Type

AMEX

Interest Free Days

Interest Free Days

44

Minimum monthly repayment

2.5% or $30

Minimum credit limit

$2k

Maximum credit limit

$50k

Free supplementary cards

Number free supplementary

4

Instant Approval

Fees

Annual Fee

Annual Fee

$295

Annual Fee Spend Waiver

Supplementary card annual fee

$0

Late Payment Fee

$30

Over limit fee

$15

Duplicate statement fee

$10

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

20.74%

Cash advance rate

Cash advance fee

$0

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

-

Transfer Limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Amex

Overseas charges

Overseas charges

Estimated ATM Cost

-

Rewards

Program name

Amex Membership Rewards (David Jones)

Rewards Available

Gift Card

Eligibility

Minimum age

18

Minimum income

$65k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident, Temporary Visa 12 Months Valid, Business Long Stay Visa, 457 Visa holder

Earn Rates

RateCard TypeEarnsCondition

4 points for $1 spent

AMEX

uncapped

David Jones

3 points for $1 spent

AMEX

uncapped

major supermarkets and petrol stations

1 point for $1 spent

AMEX

uncapped

all other eligible purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE Available when you use your card to pay for return domestic travel
  • FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
  • FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 18 years of age
  • PURCHASE PROTECTION INSURANCE Covers up to $3,500 per item and $20,000 per year with a $50 excess within 90 days of purchase
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • SPECIAL EVENTS Exclusive Season Launch Parades, fashion events and more
  • AIRPORT LOUNGE Up to two entries per year into the American Express Lounge at Sydney or Melbourne International Airport
Specials
  • Bonus Points Receive 30,000 Rewards points
    Receive 30,000 Rewards points when you are approved and spend $750 outside of David Jones within the first three months of becoming a Card Member.

Other Benefits

Up to 4 Years Interest Free with No Deposit available on homewares, furniture, bedding and electrical purchases of $500 or more purchased at David Jones. Fashion Pay Later Option - defer payment for 3 months when you spend $250 or more on women's or men's apparel, shoes and fashion accessories instore.

Other Restrictions

Balance Transfer and Cash Advance not available

Pros and Cons

  • Rewards Available through Amex Membership Rewards (David Jones)
  • Bonus 30000 points subject to eligibility conditions
  • Apple Pay, Google Pay and Samsung Pay available
  • Free domestic travel insurance
  • Free international travel insurance
  • Free supplementary cards
  • Purchase protection insurance
  • Extended warranty
  • Special events
  • Airport lounge
  • No balance transfer
  • Does not offer any complimentary insurance covers
  • Late payment fee

American Express Features and Fees

Details

Card Level

Platinum

Card Type

AMEX

Interest Free Days

Interest Free Days

44

Minimum monthly repayment

2.5% or $30

Minimum credit limit

$2k

Maximum credit limit

$50k

Free supplementary cards

Number free supplementary

4

Instant Approval

Fees

Annual Fee

Annual Fee

$295

Annual Fee Spend Waiver

Supplementary card annual fee

$0

Late Payment Fee

$30

Over limit fee

$15

Duplicate statement fee

$10

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

20.74%

Cash advance rate

Cash advance fee

$0

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

-

Transfer Limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Amex

Overseas charges

Overseas charges

Estimated ATM Cost

-

Rewards

Program name

Amex Membership Rewards (David Jones)

Rewards Available

Gift Card

Eligibility

Minimum age

18

Minimum income

$65k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident, Temporary Visa 12 Months Valid, Business Long Stay Visa, 457 Visa holder

Earn Rates

RateCard TypeEarnsCondition

4 points for $1 spent

AMEX

uncapped

David Jones

3 points for $1 spent

AMEX

uncapped

major supermarkets and petrol stations

1 point for $1 spent

AMEX

uncapped

all other eligible purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE Available when you use your card to pay for return domestic travel
  • FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
  • FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 18 years of age
  • PURCHASE PROTECTION INSURANCE Covers up to $3,500 per item and $20,000 per year with a $50 excess within 90 days of purchase
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • SPECIAL EVENTS Exclusive Season Launch Parades, fashion events and more
  • AIRPORT LOUNGE Up to two entries per year into the American Express Lounge at Sydney or Melbourne International Airport
Specials
  • Bonus Points Receive 30,000 Rewards points
    Receive 30,000 Rewards points when you are approved and spend $750 outside of David Jones within the first three months of becoming a Card Member.

Other Benefits

Up to 4 Years Interest Free with No Deposit available on homewares, furniture, bedding and electrical purchases of $500 or more purchased at David Jones. Fashion Pay Later Option - defer payment for 3 months when you spend $250 or more on women's or men's apparel, shoes and fashion accessories instore.

Other Restrictions

Balance Transfer and Cash Advance not available

FAQs

What's the best credit card for rewards?

There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice. 

Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward. 

What is a credit card?

A credit card is a payment method which lets you pay for goods and services without using your own money. It’s essentially a short-term loan which lets you borrow the bank’s money to pay for things which you can pay back – potentially with interest – at a later date. Credit cards can also be used to withdraw money from an ATM, which is known as a cash advance. Because you’re borrowing money from a bank, credit cards charge you interest on the money you use (unless you repay the entire debt during the interest-free period). When you apply for a credit card, the bank gives you a credit limit which sets the maximum amount you can borrow using your card. Credit cards are one of the most popular methods of payments and can be a convenient way of paying for goods and services in store, online and all around the globe.

How to pay a credit card

There are a few ways to pay a credit card bill. These include:

  • BPAY - allows you to safely make credit card payments online.
  • Direct debits - set up an automatic payment from your bank account to pay your credit card bill each month. You can choose how much you want to pay of your credit card bill when you set up the auto payments.
  • In a branch.
  • Via your credit card provider's app.

What is CVV on a credit card?

CVV stands for ‘card verification value’, and is also sometimes referred to as a CVC or card verification code.

A CVV code is usually needed when the card is used online or over the phone as an anti-fraud measure. Without the cardholder being physically present to sign or verify the purchase, the CVV provides an extra layer of protection. 

If you’re using Mastercard or Visa, the CVV is the three digits located on the back of the card. If you’re using an American Express, the CVV is usually four digits and is on the front of the card.

How do you cancel a credit card?

It’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.

How do you use a credit card?

Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.

What should you do when you lose your credit card?

Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.

Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.

Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.

Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.

Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.

How do you apply for a credit card?

You can apply for a credit card online, over the phone or in person at the bank. Once you’ve compared the current credit card offers, the application process is quick and easy. Before you get your application started, you’ll need to gather your personal information like proof of ID, payslips and bank statements, proof of employment and details of your income, assets and liabilities. To be eligible for a credit card, you’ll need to be an Australian citizen over 18 and earn a minimum of $15,000 each year. Once you’ve applied for a credit card, you should get a response fairly instantly. If your credit card application has been approved, you should receive a welcome pack with your new credit card within 10-15 days.

Where can I get a credit card?

Looking to get your first credit card? You might be confused as to exactly where to go to apply for one. Here’s where to go when you are ready to put in that application.

The bank: Your bank is a great place to start, provided that you have a good banking history. Since you already have a financial history, you have more chance of your application being approved.

Credit card provider: Another option is to apply for a credit card directly from the issuer, such as Visa, Mastercard or Amex. This will most likely be an online application, so do your research and apply for a suitable card for your circumstances.

Major retailers: Coles, Woolworths, Myer and David Jones all have credit cards available. But watch out for the interest rate and annual fees – these cards are designed to help you spend more in store.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

What should you do if your credit card is compromised?

Credit card fraud is a serious problem. If your credit card is compromised and you’re wondering what to do, here are a few precautionary steps to take.

Contact you credit provider – Get in touch will your credit card provider. If you feel your card has been compromised, you should be able to lock or block it.

Monitor your accounts – Keep an eye on your credit card accounts. Any unauthorised transactions could be a sign your credit card has been compromised.

Check your credit rating – It’s also important to check your credit rating, to ensure you’re not a victim of identity theft or some other financial mischief.

What happens if I have a bad credit score?

If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.

Why should I check my credit rating?

There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.

Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.

Why do different credit reporting bureaus use different scores?

The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.

However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.

Can I get a credit card on part-time/casual work?

Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.

How to get a credit card for the first time

A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.

If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.

Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.

When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.

How easy is it to get a credit card?

For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.

Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.

Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.

Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.

How many numbers are on a credit card?

The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers. Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. 

The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. 

Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.

How to make a credit card online

If you’re wondering about how to make a credit card online application, here are some steps to follow:

  • Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
  • Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
  • Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
  • Review details. Ensure the information you’ve entered is correct.

Do you need a credit card to get a loan?

You do not need a credit card to get a loan, but you usually need to have a credit history. Without a credit history, a financial institution cannot assess your ‘credit worthiness’, or your capacity to pay off the loan.

If you don’t have a credit card, your credit history can reflect any record of paying off an asset. Without any credit credit history, you’re limited in the type of loans you can apply for. But you may be able to obtain a secured loan against an asset. For more information on improving your credit score, go here