American Express credit cards offer a range of benefits to suit your needs from low interest rates, balance transfers, premium insurances and rewards that will let your spending take you to your next destination
American Express (Amex) are a major name in credit cards. You probably know them for their traveller’s cheques as well. There are more than one hundred million American Express credit cards accepted in over 130 countries, and every year you can use your American Express credit card in more and more places throughout Australia.
There are many different American Express credit cards, from low rate and no annual fee through to credit cards that have an annual fee that would make you blush. Some Amex cards are issued by banks, for example ANZ and Commonwealth Bank, and are premium products. Co-branded American Express credit products are mainly platinum and above.
American Express Awards
- Best Frequent Flyer Program and Best Frequent Flyer Credit Cards. Awarded to American Express in Money Magazine’s 2013 Best of the Best Awards.
American Express Credit Card Offer
Receive a $50 statement credit when you apply online and are approved. It also includes Smartphone Screen Insurance providing up to $500 for screen repairs. Plus earn 1 Membership Rewards point for every dollar you spend and a no annual fee for life.
- $0 p.a. annual fee
- 14.99% p.a. on purchases
- 0% p.a. for 12 months on balance transfers
- Up to 55 days interest free
- Minimum Income Requirement of $40,000 p.a.
American Express Credit Cards Comparison
Rates last updated May 30th, 2016.
- American Express Velocity Escape Card
Bonus Velocity Points field has been updated from 15,000 to 7,500.
February 29th, 2016
- American Express Qantas Premium Card
Bonus Qantas Points offer changed from 80,000 to 30,000.
February 29th, 2016
- American Express Platinum Business Card
The 150,000 Membership Reward Points has been replaced by the 100,000 offer until 31 May 2016.
April 1st, 2016
American Express Companion & Dual Credit Cards
Rates last updated May 30th, 2016.
- ANZ Frequent Flyer Black
Minimum required spend changed to 2,500
January 13th, 2016
- ANZ Rewards Credit Card
Reward points per dollar spent on VISA updated from 1.25 to 0.75
March 16th, 2016
- ANZ Rewards Platinum
Reward points per dollar spent on VISA updated from 1.5 to 1
March 16th, 2016
Types of credit card from American Express
Many well-known Australian banks issue American Express credit cards as companion credit cards — a Visa or MasterCard card and an American Express card — but there are a number of American Express issued credit cards for personal and business use out there. There are more cards that cater to high-income earners than there are low rate and fee cards, and also take note of the American Express frequent flyer credit cards. No annual fee frequent flyer credit cards are not common with American Express.
Balance transfer credit cards
Aside from premium card benefits, competitive interest rate offers and other perks American Express also offers balance transfers to help you repay your existing credit card balance. Balance transfers provide a low rate of interest when you transfer your existing credit card debt over to a new American Express credit card. You can refer here for our step-by-step guide to completing a balance transfer with American Express.
Low rate credit cards
Look out for the purchase rate of interest and the annual fee when you’re comparing low rate credit cards. Although there are low rate credit cards from different institutions that are less costly to use for purchases, the Amex Low Rate offers the added advantage of purchase insurance.
The American Express Low Rate Credit Card is no longer available for new applications as this credit card is no longer available to new customers. The credit card cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.
If you would like to compare other credit cards, click Low rate.
Rewards credit cards
American Express credit cards offer arguably the most generous and prestigious rewards program available among Australian credit cards — Membership Rewards. These cards can be ideal if you spend a large amount on your credit card and pay back what you’ve spent at the end of the statement period.
Frequent flyer credit cards
American Express offer frequent flyer credit cards with or without an annual fee. The Qantas Discovery and Velocity Escape are among a handful of frequent flyer credit cards that don’t charge an annual fee. They’re great for racking up rewards if you’re not a big spender. People who use their cards a lot may want to consider cards with an annual fee as they usually have a higher earn rate.
Store credit cards
Much like rewards credit cards, store credit cards give you something back when you spend. Store cards are branded with a certain merchant, and consumers who shop frequently at that place will see the greatest benefit from these cards.
Business credit cards
Business credit cards can be a great way to manage your business and employee’s spending. American Express even offer business credit cards with rewards. Earn American Express Membership Rewards Points on business spending. Keep the points for yourself or turn the points into something the whole business can use.
The benefits of banking with American Express
Membership Rewards — frequent flyer transfer partners
American Express Membership Rewards can be used to book travel or they can be transferred to Frequent Traveller Partners. Frequent Traveller Partners are frequent flyer programs, like Velocity or Krisflyer. American Express give you more ways to use your Membership Rewards points. You can find out more in the FAQs section on this page.
Fraud protection and contactless payments
Every American Express credit card comes with contactless payment technology. Just tap your card against the contactless reader to pay for purchases under $100. Every American Express credit card is protected against card fraud as well. If you’re the victim of credit card fraud, American Express have you covered. Report any instances of card fraud to American Express immediately and they will start an investigation into the unauthorised card use.
You can use your Membership Rewards Points at Ticketmaster — they’ve got a discount code for American Express members too, so you can save on big ticket sporting events and concerts. American Express Entertainment Access puts you first in line for selected lifestyle events and experiences.
How to apply for an American Express credit card
Eligibility requirements vary between American Express cards. However, an applicant must be 18 or older, an Australian resident or citizen, must have a good credit rating, and must meet the minimum income requirement. You can apply for these cards online. Click ‘Go to Site’ and you will be directed to the American Express website and the secure online application. The online application only takes ten minutes to complete if you’ve got the right information at the ready.
Information needed to apply for an American Express credit card
- Details about your income and employment. You’re required to provide your annual income, including any income generated from assets like property or shares, and also whether you have any savings. You will also need to provide your employer’s contact information or your account’s details if you’re self-employed.
- Debts and liabilities. You need to provide information about your ongoing expenses, like child support payments, your weekly food budget, loan repayments and dependent children. If you have other credit cards, you’ll need to list the size of the balance you’re carrying on each card and whether you want to transfer the balance.
- Personal information. You will need to list basic personal details like your name, contact information and your address.
Frequently asked questions
Do you have a question about American Express credit cards? Check the FAQs below for an answer. If you can’t find the question and answer you’re looking for, get in touch with us using the form at the bottom of this page.
Can I apply for an American Express credit card?
- You must be 18 years of age or older
- You must have a good credit history
- Be a permanent Australian resident or hold a long stay visa
- Earn more than $30,000 p.a. Self-employed borrowers must have been trading for 18 months before they can apply for an American Express credit card
How do I transfer a balance to an American Express credit card?
Interview about American Express balance transfer FAQs.
What is a credit establishment fee?
A credit establishment fee is a balance transfer fee. It’s charged when you bring your existing credit card debt over to your new American Express credit card when you apply. It’s supposed to be a fee to cover the administrative costs of processing a balance transfer request. The credit establishment fee is expressed as a small percentage of your total balance transfer amount — sometimes 1%. The fee is taken from your available credit on your credit card, so it will need to be factored into any calculation of the total balance transfer balance.
Where can I use my American Express credit card?
American Express credit cards are not accepted by all Australian merchants, but this is changing. Every year, more and more shops and businesses accept American Express credit cards. American Express have a Business Directory tool that allows you to search for Australian businesses that accept an American Express credit card. You can access the American Express Business Directory on their website.
What’s the minimum repayment? How much do I have to pay each month?
The minimum repayment is a small percentage of your balance that you must pay back to stop your account from entering into default. The minimum monthly repayment is listed on our American Express credit card review pages and it is the minimum amount you must pay off your credit card when your statement is issued. The due date is displayed on your credit card statement.
What is American Express Membership Rewards?
This is the rewards program of American Express. Points earned in this program are conveniently used to redeem valuable travel rewards such as flights, foreign currency, hotels and other benefits and features related to travel. Redeeming shopping rewards will allow a cardholder to receive leading brands of sporting goods, wines, homewares, technological products, and various gifts. In addition, the points may be applied to entertainment, sporting activities, leisure and dining choices that appeal to your way of life.
How do I become a member of American Express Membership Rewards?
Apply and get approved for an American Express rewards credit card and you’ll be automatically enrolled in American Express Membership Rewards. To stay a member, you need to pay your account. If you’re going into default and you don’t pay within 40 days, your points are forfeited and you will no longer be a member of the program.
Do my American Express Membership Rewards points expire?
As long as you keep your account in ‘good standing’ your American Express Membership Rewards Points won’t expire. In ‘good standing’ means you need to stop your account from going into default, so keep paying your card and your points won’t expire.
Which airlines can I transfer my Membership Rewards Points to?
American Express have one of the largest number of airline frequent flyer transfer partners out of any rewards program in Australia. You get a competitive deal if you turn your American Express Membership Rewards Points into frequent flyer points. Many other rewards program have a shocking rate when you transfer between their rewards points and frequent flyer points with their partners. For many frequent flyer programs linked to American Express Membership Rewards, the conversion rate is 1:1. Transfer Frequent Flyer Points