Balance Transfer Rate
for 12 months then 20.74%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Extended warranty
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Cash advance fee
Balance Transfer Rate
Balance Transfer Rate
for 12 months then 20.74%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Amex
Estimated ATM Cost
Amex Membership Rewards Ascent
|3 points for $1 spent||AMEX||uncapped||major petrol stations|
|3 points for $1 spent||AMEX||uncapped||major supermarkets|
|2 points for $1 spent||AMEX||uncapped||overseas spend|
|1 point for $1 spent||AMEX||uncapped||all other eligible purchases|
- 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 $2,500 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
Receive $200 Travel Credit every year and transfer your points to a choice of 9 airline partner programs including Virgin Australia and Singapore Airlines
Cash Advance not available. </> Balance transfers are not currently available on new American Express Credit Card applications.
Compare and review credit cards with similar features
ANZ Rewards Platinum
Bonus PointsEarn 60,000 bonus Reward Points and your 1st year annual fee waived with your new ANZ Rewards Platinum credit card when you spend $2,500 on eligible purchases in the first 3 months from approval
American Express, commonly known as AMEX, is a multinational financial services corporation headquartered in New York.
AMEX is the world’s largest credit card issuer by purchase volume. Alongside AMEX credit cards, the company provides personal financial products such as travellers’ cheques, as well as business and corporate financial services.
American Express has a corporate office in Sydney and various currency exchanges around Australia, but no dedicated customer service branches. ATM access is available through AMEX’s network of partner ATMs.
American Express Platinum Edge credit card offers a number of features to cardholders. This card comes with membership to the Membership Rewards Ascent program, one of Amex’s own rewards programs. You can also earn rewards points on all eligible purchases with the American Express Platinum Edge credit card.
Amex are also offering a travel credit at the start of each year, as well as five different types of complimentary insurances to protect cardholders when they are travelling against theft, cancellations and even travel inconvenience.
Cardholders also have the option to extend the manufacturer’s warranty on items purchased using this credit card. American Express purchase protection and refund protection are also included.
As can be expected, this credit card has a high interest rate and a moderately high annual fee. There are also a moderate number of interest-free days available each billing cycle.
- Earn rewards points
- Five complimentary insurances
- Balance transfer offer
- High interest rate
- Moderately high annual fee
- No cash advances
Who is it good for?
The American Express Platinum Edge credit card has benefits and complimentary extras that might make it suitable for frequent travellers. The insurance products offered with this card are, for the most part, explicitly for use when travelling. Combined with the annual travel credit offered, this card might be a good option for those who travel frequently.
With a generous rewards scheme available, this credit card could also be beneficial for current members of the Membership Rewards Ascent program, or those who are shopping around for a rewards program to commit to. And if earning rewards points is a priority for you, this credit card is more suitable for medium to big spenders, who will see more value from earning more rewards points.
With a high interest rate and moderate annual fee, this credit is less suited to customers who do not pay off their credit card in full each month.
What RateCity says
The American Express Platinum Edge credit card has various perks and extras. The complimentary insurance products are certainly generous, and offer many benefits to frequent travellers.
Other benefits include extending the manufacturer’s warranty on purchases, purchase protection to cover theft or damage, and refund protection for up to 90 days. Although generous, most of these benefits encourage more spending on the American Express Platinum Edge credit card, which benefits the credit card provider more than anything else.
For this reason, this credit card is more suitable for customers who are already putting most of their transactions on a credit card - this card will allow you to do the same, but take advantage of complimentary extras and also earn rewards points.
When considering this card, consumers should be careful not to be blinded by the benefits, and also weigh up the high interest rate and annual fee.
To be eligible for the American Express Platinum Edge credit card, you must be at least 18 years old and an Australian citizen or permanent resident, or hold a current business long stay visa. You must also meet a minimum income requirement and not have any history of bad debt. You can apply online in just 10 minutes and could receive a response within 60 seconds. Make sure to have your identification, income and employment details handy.
About the lender
American Express is an international corporation in financial services, which offers products and services in credit cards, insurance, corporate banking and more. Headquartered in New York, American Express was founded in 1850 and today services customers worldwide and employs more than 56,000 people. Customers can contact American Express 24 hours per day, seven days per week via phone and live chat, with a different phone number available for each credit card product.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
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.
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.
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.
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.
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.
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.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new 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.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
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.