American Express Platinum Card – Rates and Fees

Information verified correct on August 24th, 2016
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Look forward to no preset spending limit with the American Express Platinum Card, and get 80,000 Membership Rewards Bonus Points when you meet the spend requirement.

The American Express Platinum Card is a charge card, so you have to pay the account’s outstanding balance in its entirety every month. While this card charges a reasonably high annual fee, it gives cardholders much to look forward to in the form of extras. When you get your new card you stand to earn 80,000 bonus reward points — that’s up to 4 return flights from Sydney to Melbourne, and you continue earning reward points as per your spending. New cardholders can look forward to 80,000 bonus reward points when they spend $1,500 within the first 3 months of card activation. What also helps is that you get great freedom when it comes to redeeming your reward points.

As a cardholder, you get a $300 Platinum Travel Credit every year, which you can redeem online for flight tickets, hotel bookings, or car hire. Cardholders also get a number of complimentary insurance covers.

Product NameAmerican Express Platinum Card
Rewards ProgramMembership Rewards
Annual fee$1,200 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 51 days on purchases
Minimum Monthly Repayment2.5% or $30
Minimum Income$100,000
Card TypeAmerican Express
Late Payment Fee$6
Foreign Currency Conversion Fee (AMEX)3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$100,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$1,200 p.a.
Minimum Repayment2.5% or $30
Late Payment Fee$6
Over Limit Fee$15
Overseas Emergency Replacement$0
Overseas ATM Balance check$1.50
Overseas ATM Withdrawal Fee$1.50
Foreign Currency Conversion Fee (AMEX)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • Platinum card holders get complimentary membership to the Ascent Premium rewards program. The Ascent Premium Rewards program is superior to all others.
Cons
  • There is no pre-set spending limit, with purchases approved based on the lending requirements of American Express.
  • This card has an annual fee of $1,200. 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.
Rewards ProgramMembership Rewards
Bonus Points on Sign-up80,000
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap300,000
Points ExpiryNever

American Express Platinum Card review

The American Express Platinum Card offers a number of superior features to Aussie cardholders. This card gives you the ability to earn up to 3 reward points for every dollar spent. Plus, these points won’t expire as long as your account remains in good standing. If you’re looking to kickstart your rewards points balance, the 80,000 signup bonus points will come in handy. To receive this bonus points offer all you need to do is spend $1,500 within the first 3 months of card activation. Boasting a number of travel specific benefits, this card was designed for frequent travellers.

Benefits of the American Express Platinum Card

  • Bonus rewards points. New and approved cardholders are eligible to receive the 80,000 bonus points when they spend $1,500 within the first 3 months of card activation – that’s enough points for up to 4 return flights from Sydney to Melbourne. Cardholders who currently hold or have previously held an American Express card in the preceding 12-month period are ineligible for this bonus points offer.
  • Complimentary insurances. If you use this card to pay for travel, you receive complimentary insurance covers that offer protection to you, your spouse, and dependent children. Some of the covers you can make use of include transport accident cover, travel inconvenience cover, travel cancellation cover, medical emergency expenses cover, hijack cover, and resumption of journey cover. Purchases you make using this card receive protection through purchase protection cover, refund protection cover, and buyer’s advantage cover.
  • Reward points. As an American Express Platinum cardholder, you become an automatic member of Ascent Premium – American Express’ highest tier of rewards. You earn 3 reward points for every dollar spent at various restaurants in Australia; you earn 2 reward points per dollar spent towards flight tickets, cruises, and accommodation as well as on overseas purchases; and you earn 1 point per dollar spent on most everyday purchases. You even earn 0.5 reward points per dollar spent towards utility bills, telecommunications providers, and government bodies.
  • Platinum concierge service. You can turn to this global round-the-clock service for assistance in matters like locating restaurants, booking tickets to different kinds of events, finding a suitable gift, or even making arrangements for a business meeting. Access to this service is free.
  • Apple Pay. This card is eligible to use with Apple Pay so you can pay on the go with compatible Apple devices. Learn more here.
  • Samsung Pay. With the Samsung Pay feature, not only can you make contactless payments with your eligible Samsung device, but you can also get $15 credit back on your account when you meet the spend requirement. Learn more here.

American Express Platinum Card features

  • Travel rewards. You can use the $300 Platinum Travel Credit every year to pay for airfare, hotel booking, and car hire. What helps is that you can use this credit to make travel bookings for anyone at all. Complimentary membership to the Accor Plus program brings with it a one night free stay at any Accor property each year. You also get free membership to leading hotel partner programs like Le club Accorhotels, IHG Rewards Club, Starwood Preferred Guest, and Club Carlson. Cardholders get a Priority Pass that gives them access to over 800 VIP lounges at airports around the world. When you fly with Virgin Atlantic, you can access Virgin Australia lounges for free.
  • Security. Online fraud protection is in place to make sure you don’t have to pay for unauthorised and fraudulent transactions. If you lose an item you pay for using this card, or if you damage it, you can make use of purchase cover protection. In case a store does not accept the return of an unused item, you can make use of refund protection. With buyer’s advantage, you can look forward to extended warranty on eligible products.
  • World class service. The platinum concierge service can help you in more ways than one. Taste from Platinum gives you easy access to some of the best restaurants in the world. Complimentary membership to My Wine Companion brings with it a personal wine adviser, and you also get to take advantage of special member-only rates. Platinum Card Service ensures you get timely assistance if you lose or misplace your card, and it also provides all kinds of account related information.
  • Annual fee. This card attracts an ongoing annual fee of $1,200 that you have to keep paying for the life of the card.

How to apply for the American Express Platinum Card

You can apply for the American Express Platinum Card online, and to begin now, simply complete an online application. Bear in mind you have to meet the following eligibility criteria to apply.

Eligibility criteria

  • You are over 18 years of age
  • You are a permanent Australian resident or citizen
  • Your earn at least $100,000 as pre-tax income

Required documents

  • Your complete name, date of birth, marital status, and number of dependents
  • Your Australian driver’s license number (if you have one)
  • Your residential address, email address, and phone number
  • Your employer’s name, address, and phone number
  • Details surrounding your income, assets, expenses, and liabilities

Frequently asked questions

How quickly can I complete the application?

With all the required information close at hand, you should be able to complete the application in around 10 minutes.

How long does approval take?

Expect to hear from American Express about your application’s status within 5 to 10 business days.

What can I redeem my reward points for?

You get to choose from an array of reward options which include awards by American Express’ leading partners like Singapore Airlines, David Jones, and Coles. You can redeem your reward points for flight tickets and hotel accommodation, and you can also transfer them to your frequent flyer program account.

What if I don’t have enough points to redeem a reward I like?

You have the option of paying with a combination of reward points and a payment via your credit card.

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59 Responses to American Express Platinum Card – Rates and Fees

  1. Default Gravatar
    adam | April 14, 2016

    With regards to supplementary card holders on Platinum Charge AMEX, can two separate direct debits be set up or is the primary card holder only allowed the one direct debit?

    • Staff
      May | May 11, 2016

      Hi Adam,

      Thanks for your question.

      I apologise for the delayed reply. Yes, you can set up a separate direct debit with the AMEX Platinum Supplementary Charge card.

      Cheers,
      May

  2. Default Gravatar
    Kimberley | January 30, 2016

    Does the platinum card get myself and a guest traveling on Virgin into the virgin lounge in Australia?

    • Staff
      Jonathan | February 1, 2016

      Hi Kimberley, thanks for your inquiry!

      Unfortunately the Priority Pass membership with American Express does not include the Virgin Lounge in Australia. The only included lounge in Australia is the Cairns International Reef Lounge. You can view all available lounges with the Priority Pass on this page.

      Cheers,

      Jonathan

    • Default Gravatar
      Neil | May 4, 2016

      Hi,

      I am a UK Platinum and Cash Rewards American Express cardholder and hold an Australian American Express through CBA. Can you tell me how I can best access the Priority Pass scheme please so that I can access the Airport Lounge at Sydney airport as well as others around the globe?

      Thanks in advance.

    • Staff
      May | May 5, 2016

      Hi Neil,

      Thanks for your inquiry.

      Unfortunately, the CBA AMEX card does not come with complimentary access to the airport lounge. But the credit cards that are listed on this page do. In the meantime, you may want to join the Priority Pass membership program to have a wide range of access in over 900 lounges in 400 cities across 120 countries worldwide.

      I hope this has helped.

      Cheers,
      May

  3. Staff
    Debbie | January 4, 2016

    Hi Joseph,

    Thank you for your inquiry.
    Please refer to the PDF I have sent to your email for the travel insurance policy included on American Express Platinum Card.

    To understand more credit card travel insurance, kindly go through this page.

    I hope this helps.

    Cheers,
    Debbie

  4. Default Gravatar
    JI | December 14, 2015

    I have concerns after reading reviews that the complimentary travel insurance does not cover supplementary card members. Is my wife’s card a supplementary one or is she considered a primary card member?

    • Staff
      Ally | December 15, 2015

      Hi Jl,

      Thanks for your inquiry.

      Kindly note that you have come through to finder.com.au, an online comparison service, which does not represent any credit card issuer such as AMEX.

      Anyway, that depends on how your wife got the card. If she applied for a primary account, she’s supposed to receive billings for the annual fee, and monthly statements are supposed to be issued which detail the combined points for all linked program accounts, while a supplementary card just authorizes her to use it (being a card issued on a primary card member’s account that is liable for all supplementary credit card spending).

      Should you wish to clarify on the status of your wife’s account further, it would be best to speak with an AMEX representative for direct assistance. That said, I have emailed you their contact details for your reference.

      I hope this has helped.

      Cheers,
      Ally

  5. Default Gravatar
    Dee | September 23, 2015

    Can I have additional cards with one account?

    If yes, how much does it cost?

    • Staff
      Sally | September 23, 2015

      Hi Dee,

      Thank you for your comment.

      Cardholders can get up to 4 additional cards without paying any additional annual fee.

      I hope this has helped.

      Thanks,

      Sally

  6. Default Gravatar
    Andy | September 5, 2015

    Hi there:

    Thank you for making this website. The information is quite useful.

    Just want to know whether the AMEX Platinum card concierge service is worth it? I have heard many rumours about how the quality of AMEX’s concierge service diminished over the past decades.

    These rumours include:
    - no concierge answers the phone, or has to wait for a long time before they pick up the phone
    - not being able to fulfil regular requests such as booking hotels, etc.

    Appreciate your time.

    Andy

  7. Default Gravatar
    Josie | August 4, 2015

    Hi I have a AMEX Platinum card and I am travelling to Europe at the end of this week and I see that Platinum Cardholders apparently get a Priority Pass that gives them access to over 600 VIP lounges at airports around the world. Can you please let me know how I can go about getting this priority pass please before I go?
    Best Regards Josie

    • Staff
      Jonathan | August 4, 2015

      Hi Josie, thanks for your inquiry!

      American Express Platinum cardholders receive complimentary Priority Pass membership and for one supplementary/ additional cardholder per account upon enrolment. To gain entry into the respective air lounge, platinum cardholders must present their Priority Pass card and same-day boarding pass. It is important to note that it may take up to eight weeks to receive your Priority Pass card from approval. Please refer to the link I have sent to your email to enrol your American Express Platinum card with the Priority Pass membership. It may be possible to gain entry into an air lounge once your membership number has been confirmed. You may like to contact the Priority Pass customer service team to verify your eligibility to enter the air lounge beforehand.

      Cheers,

      Jonathan

  8. Default Gravatar
    Kyle | August 3, 2015

    Hi there,

    My parents have just been given a Velocity American Express Platinum Card and I am looking to become an additional card holder. However, do additional card holders have the option to gain velocity points using their own velocity account?

    • Staff
      Sally | August 5, 2015

      Hi Kyle,

      Thanks for your inquiry.

      Both Primary cardholder and Supplementary/additional cardholders share the same services and privileges that American Express membership offers. This means that any points you earn from eligible transactions made with your card from being an additional cardholder will also be shared with your parents and vice versa.

      I hope this has helped.

      Cheers,

      Sally

  9. Default Gravatar
    andrew | July 7, 2015

    We have purchased our plane tickets on frequent flyer points and have paid the taxes on our American express. Does this entitle us to the complimentary travel insurance?

    • Staff
      Sally | July 7, 2015

      Hi Andrew,

      Thank you for your question.

      If you have paid your travel costs for you, your spouse, and any dependent children, you should be entitled to the complimentary travel insurance.

      However, you may wish to contact American Express directly to confirm what you’re covered for in your specific circumstance.

      I hope this has helped.

      Thanks,

      Sally

  10. Default Gravatar
    Lena | May 22, 2015

    Hi, I’ve just applied for the American Express Platinum Charge Card and it has been approved. If I have the David Jones/American Express credit card, am I still considered a new member for the purposes of the 80,000 bonus points?

    thanks
    Lena

    • Staff
      Elizabeth | May 25, 2015

      Hi Lena,

      Thanks for your question.

      Unfortunately, if you currently hold or have previously held an American Express card product (including the David Jones Amex card) in the previous twelve months you are ineligible for the bonus points offer.

      Thanks,

      Elizabeth

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