American Express Platinum Card – Review of the AMEX Platinum Card
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The AMEX Platinum Card will rapidly become one of your most reliable and helpful tools, no matter what you choose to do with your time.
The support and superior service of American Express is brought to Platinum Card holders directly through the Personal Assistance program, which offer such unbelievable assistance as securing a reservation at one of the hottest restaurants in town, discovering where you can procure an especially hard to find gift or personal item, or even making the plans for an anniversary, birthday, or other occasion. You will quickly find that the attentive Platinum Card Concierge crew is invaluable when it comes to helping you manage your own, personal lifestyle.
| Product Name | American Express Platinum Card | |
|---|---|---|
| Offer end date | 31 May 2013 | |
| Annual Fee | $900 p.a. | |
| Interest Free Period | up to 51 days | |
| Minimum Monthly Repayment | 100% | |
| Credit Card Type | American Express | |
| Late Payment Fee | $6 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
The charge card difference
You may notice the American Express Platinum Card doesn’t have any interest rates advertised with it. That’s because it’s a charge card. It charges no interest, and has no pre-set spending limit, so you can spend as much as American Express believes you can pay back. This means they wil approve your purchases based on your spending patterns, payment history, credit records and any other financial resources they are able to check. In return for this you need to pay your balance off in full each month.
How the AMEX Membership Rewards plan works
Platinum Card members are also immediately appointed as members of Ascent Premium, the top notch AMEX Membership Rewards plan. Points from the Ascent Premium program can easily be transferred for use on the Qantas Frequent Flyer Program, and also is available with eight other rewards partner programs with major airlines. These include:
- Virgin Australia Velocity Frequent Flyer
- Etihad Guest
- Virgin Atlantic Flying Club
- Singapore Airlines KrisFlyer
- Air New Zealand Airports
- THAI Royal Orchid Plus
- Malaysia Airlines Enrich
- Cathay Pacific Asia Miles
Earn rate
The American Express Platinum earns you different amounts of points depending on what you use it for:
- 3.00 points are earned for every dollar spent at eligible restaurants in Australia.
- 2 points are earned for every dollar spent overseas, whether this is online or in person. You’ll also earn 2 points per dollar spent on airlines, accommodation, major cruises and tours paid directly or through specific travel agents listed on the American Express website.
- 1 point is earned for every dollar spent on everything apart from utilities, insurances not offered by AMEX, telecommunications and government bodies, which earn 0.5 points per dollar.
Once you earn 300000 points in a year your earn rate will drop to either 0.5 or 1 point per dollar spent, depending on the transaction. It’s important to remember these points won’t expire as long as your account remains open.
AMEX Platinum Card will award you an extra 80000 points for your Membership Rewards account, after you make purchases totaling at least $500 during your first two months as a Platinum Card member. If you calculate it out, that 80000 points is equates out to a generous $450 in Travel Agency Gift Vouchers.
OK but will the AMEX Platinum Card make my life easier?
Absolutely! For example, American Express is set up to manage the details of your accounts, obviously, but we can also help with your travel needs and the organisation of many other details in your life. Members quickly learn to take full advantage of our outstanding AMEX Concierge Service, which is capable of planning your dinner reservations, making flight arrangements, or even planning an event to celebrate a birthday, anniversary, or other special occasion. All of this, of course, means that you are free to focus your time and energies on work” and play!
What travel benefits are offered with my AMEX Platinum Card?
Naturally, American Express is the gold standard for travel planning and your Platinum Card offers favored treatment through a variety of important worldwide institutions.
AMEX Platinum Travel program. This program is capable of covering your individual travel plans, offering promotions and other benefits while you are away from home. In addition, there are significant savings available, whether you’re looking for automobile rental, hotel stays, airline tickets, or tourist attractions. It’s infinitely more relaxing and pleasant to travel when the details are managed and Platinum Travel caters to this.
Platinum Fare Guarantee. If you find the same First or Business Class fare cheaper elsewhere American Express will match it. This is based on certain terms and conditions, and the fare must be publicly available in Australia.
Priority Pass and complimentary Virgin lounge access. Priority Pass grants access to an outstanding list of 600 first-rate VIP airport lounges found in 300 cities and 90 countries worldwide. If these don’t float your boat, you also get access to Virgin Australia lounges.
Preferential treatment around the world. Travel will be easier with special options and rates at some of the most exclusive hotels and resorts anywhere. Whether you seek a relaxing spa visit or an amazing dinner, there are 650 of the finest luxury hotels and resorts awaiting discovery. You’ll also get automatic membership into Priority Club Rewards, a hotel loyalty program which boasts 4,000 hotels in 100 countries.
Cruise Privileges Program. If sailing the seas floats your boat then you’ll be rewarded for this too, with cabin upgrades and $500 in credit available for selected cruises.
What other AMEX benefits will I receive?
In addition to the faster earning rate mentioned above you’ll get a number of additional perks for making the Platinum Card yours.
As an added benefit, your membership qualifies you for the Platinum Protection program, offering insurance coverage for all of your travels. This includes an unlimited coverage on international medical emergency expenses. For other potential travel headaches, you are covered against missed travel connections, luggage loss, and other delays and problems” such as public transportation woes!
Naturally, your retail purchases are covered through the AMEX Purchase Protection program in the event of theft or damage to a purchased item, as well as the Refund Protection program for the annoying instances when a purchased item does not meet with your satisfaction. The Buyers Advantage program will extend a manufacturer’s warranty by up to a year.
You’ll also get help making last minute bookings at restaurants both in Australia and overseas, and access to American Express’ ‘by invitation only’ program which helps you get access to events and experiences not available to the public. Finally, if you need any emergency assistance with your account, you can call the Platinum service at any time 24 hours a day, 7 days a week.
How to apply for the AMEX Platinum Card
In order to apply for the AMEX Platinum Card online, the following information is required. First, you will need to have details regarding your income. Secondly, you will need your current address, as well as your previous address if you have moved within the past five years. Finally, if you are a licenced driver, you will need your drivers’ licence number.
Please note that American Express has specific criteria for the approval of applications. Some of these will include being over the age of 18, with a good history of credit and an annual income of at least $100,000. You must be a legal resident of Australia. Please note that there is a $900 p.a. annual fee for the American Express Platinum Card.
Read the American Express Platinum Card terms and conditions.
| Minimum Income | $100,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good |
| Annual Fee | $900 p.a. | |
|---|---|---|
| Minimum Repayment | 100% | |
| Late Payment Fee | $6 | |
| Over Limit Fee | $15 | |
| Overseas Emergency Replacement | $0 | |
| Overseas ATM Balance check | $1.50 | |
| Overseas ATM Withdrawal | $1.50 | |
| Gambling Transactions Allowed | No | |
| Number of Additional Cardholders | 4 |
Pros
- Platinum card holders get complimentary membership to the Ascent Premium rewards program. The Ascent Premium Rewards program is superior to all others.
Cons
- American Express do not release their rates for their Platinum Credit Card, so this is a behind closed doors operation when trying to figure out how much you're going to pay for a cash advance or purchase on your card.
- This card has an annual fee of $900. If you are looking at this card then you can probably afford it; however, almost one thousand a year to use this card will mean that you should be serious about taking advantage of the Ascent Premium Rewards Program, otherwise it's a waste of money.
Read the American Express Platinum Card terms and conditions.
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What is the maximum credit limit for this card. Is there no limit?
Hi Chis. Generally speaking, credit limits will be assigned to a cardholder based on the information given during the application. Thanks for your question.
Does the Australian Tax Office accept the Amex Platinum card for all payments?
Is there extra cost for additional card?
I already have an American Express Platinum card. How do I link to Qantas Frequent Flier program?
Hi Penny. American Express states that, ‘To transfer points to Qantas Frequent Flyer, Cardmembers must be enrolled in Membership Rewards Ascent Premium’, which is the rewards program with this card. And, ‘To redeem points from any frequent traveller program you must be a member
of the applicable program. Enrolment in such programs is solely your responsibility and fees may apply.’ The transfer can be done online through your Membership Rewards online account. Jacob.
How many points are needed to cover the annual fee?
You can’t specifically use your points to pay for your annual fee, however, you can use your points to put your account in to credit. $1,000 credit on your account is 130,000 American Express Membership Rewards Points. Jacob.
I have seen Amex cards that are made out of metal. How does one get one of those?
Hi Rob. Thanks for the question. The American Express Centurion card is made from titanium. These cards are offered on an invitation only basis. Jacob.
I spend around $750K / PA with no late payments and I have not been invited
Hi Lu. Unfortunately we can’t comment on American Expresse’s invitations to existing customers to upgrade. Let us know if you get an invite. Jacob.