Platinum Edge Credit Card
Balance Transfer0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies to any balances transferred. If you pay your Balance Transfer over time, an interest-free period will not apply to your purchases. T&Cs apply.
Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
Balance Transfer Rate
for 12 months then 20.74%
Max Free Days
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
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
Gift Card, Cash Back
457 Visa holder
|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
- Balance Transfer 0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies to any balances transferred. If you pay your Balance Transfer over time, an interest-free period will not apply to your purchases. T&Cs apply.Offer is not available for Card Members who currently hold or who have previously held any other Card product offered by American Express in the preceding 60 day period
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
Compare and review credit cards with similar features
Virgin Money Virgin Australia Velocity Flyer Card (Purchase & Balance Transfer Offer)
for 14 months then 20.74%
for 12 months then $129
Purchase Offers0% p.a. for 14 months on purchases and 0% p.a. for 6 months on balance transfers (reverts to cash advance rate).
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.
If you’ve recently used your credit card to pay for something over the phone or online, you would have been asked to provide a CVV number. 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 usually three digits and is 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.
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.