Platinum Edge Credit Card

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Basic

Card Level
Card Level
Platinum
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$50,000
Minimum credit limit
Minimum credit limit
$3,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2.5
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$195
Late Payment Fee
Late Payment Fee
$30
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$10
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Platinum
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
$50,000
Minimum credit limit
Minimum credit limit
$3,000
Minimum repayment dollars
Minimum repayment dollars
$30
Minimum repayment percent
Minimum repayment percent
2.5
Number free supplementary
Number free supplementary
4
Annual Fee
Annual Fee
$195
Late Payment Fee
Late Payment Fee
$30
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$10
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
20.74%
Cash advance rate
Cash advance rate
Purchase Rate
Purchase Rate
20.74%
Cash advance rate
Cash advance rate

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 20.74%
Transfer Limit
Transfer Limit
70%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$50
Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 20.74%
Transfer Limit
Transfer Limit
70%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$50

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on AMEX
Overseas charges
Overseas charges
Estimated ATM Cost
Estimated ATM Cost
Foreign Exchange Fee
Foreign Exchange Fee
3% on AMEX
Overseas charges
Overseas charges
Estimated ATM Cost
Estimated ATM Cost

Rewards

Program name
Program name
Amex Membership Rewards Ascent
Rewards Available
Rewards Available
Gift Card, Cash Back
Program name
Program name
Amex Membership Rewards Ascent
Rewards Available
Rewards Available
Gift Card, Cash Back

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$50,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$50,000
Eligibility conditions
Eligibility conditions

Earn Rates

RateCard TypeEarnsCondition
3 points for $1 spentAMEXuncappedmajor supermarkets
2 points for $1 spentAMEXuncappedmajor petrol stations
1 point for $1 spentAMEXuncappedall other eligible purchases
0.5 points for $1 spentAMEXuncappedutilities, insurance, government bodies

Perks

  • Extended WarrantyWarranty is extended for the same duration as the original warranty up to 1 year
  • Free Domestic Travel InsuranceAvailable when you use your card to pay for return domestic travel
  • Free International Travel InsuranceAvailable when you use your card to pay for return international travel
  • Free Travel Insurance DaysCover lasts for the shorter of 183 days per year or 180 consecutive days or when you return to your usual place of residence
  • Purchase ProtectionCovers up to $2,500 per item and $20,000 per year with a $50 excess within 90 days of purchase
  • Free Supplementary CardsSupplementary cardholder must be over 18 years of age
Other Benefits
Receive $200 Travel Credit every year and transfer your points to a choice of 9 airline partner programs
Other Restrictions
Cash Advance not available

Features

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.

Pros
  • Earn rewards points
  • Five complimentary insurances
  • Balance transfer offer
Cons
  • 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. 

Applying/eligibility

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.

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