American Express Platinum Reserve Credit Card
Related Products
Introducing…. the AMEX Platinum Reserve Credit Card
American Express are well known for giving many other financial companies a lesson in creating amazing offers for their premium customers. It would appear that once again AMEX have come up with a product that really delivers that extra quality that consumers have come to expect from the company.
We have turned this card upside down and inside out in order to bring you a comprehensive review, and breakdown of it’s features and benefits. Be prepared to be impressed!
This is a credit card designed to give you that extra bit of luxury, whilst still remaining highly functional. As a customer you are entitled to a yearly treat of either a free nights stay in one of many chosen resorts or hotels, or if you prefer you can have a free return flight with Virgin Australia.
This is just the very tip of the iceberg in terms of the benefits offered with this card. Do you like the idea of free airport lounge usage? How about free insurances? What about free access to the extremely popular Membership Rewards Ascent Program that gives you an impressive 1.5 reward points for every dollar you spend on the card?
Well this and more is offered as standard with the American Express Platinum Reserve Credit Card. Let’s have a closer look at some of the offerings from the card.
| Product Name | American Express Platinum Reserve Credit Card | |
|---|---|---|
| Interest Rate on Purchases | 20.74% p.a. | |
| Annual Fee | $395 p.a. | |
| Interest Free Period | up to 55 days | |
| Minimum Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|
$3,000 | |
| Max Credit Limit | $50,000 | |
| Minimum Monthly Repayment | 2.5% | |
| Credit Card Type | American Express | |
| Late Payment Fee | $30 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
Standard Benefits
Membership to Reward Scheme - Reward programs are a fairly normal feature of Platinum cards, however the Ascent scheme offered by American Express is one of the best around.
Not only is there a huge range of gifts, rewards, and merchandise available for you to choose from, but you also receive a generous 1.5 reward points for every dollar you spend on the card.
Many other reward cards only give you 1 point per dollar spent, so you are getting extra value for money with the AMEX Platinum Reserve Credit Card. If you are able to use your credit card for daily purchases like shopping or fuel, knowing that you can pay the balance off at the end of the month, then you can make pretty good bank with this offer.
You are able to rack up reward points on all spending up to the value of a huge $100k per annum!
Extra Purchase Cover – As a card holder you get extra purchase protection to give you that added piece of mind when you make a new purchase. Especially useful for electrical purchases that have a habit of breaking down shortly after being bought!
Special Offers – Card membership entitles you to receive many different special offers for the fun things in life like, hotels, restaurants, and entertainment experiences.
Top Quality Service – As a Platinum card holder you will receive the best quality customer service available. In fact any questions or queries you have in relation to your card or any other account services will be answered 24 hours a day, and 7 days a week.
Annual Fee – The yearly fee for all of this exceptional value is an affordable $395 p.a.
What do you want to know about American Express Membership Rewards Program?
Robert Bourne: Head of Membership Rewards, Australia & NZ at American Express
Free Flights
As mentioned you will be entitle to claim a free flight with Virgin Australia Economy each year you remain a card holder. There are 29 local destinations available to choose from, and 7 destinations around the world giving you real freedom.
If you do not fancy the free flight then you can instead choose a free night accommodation instead. The hotels you get to choose from are not just your bog standard hotels, but real luxury gems, including The Sebel Hotel in Sydney, and The Citigate which is based in Perth.
Now how many credit card companies offer those sorts of deals?
Travel Insurance
While you enjoy your free trip you will need to have some sort of travel insurance. Well, guess what, this card gives you free travel insurance as well!
You receive coverage that includes, baggage loss, medical expenses, personal liability, cancellation cover, and even special accident cover.
As for shopping insurance that is also included in the form of extra purchase protection cover. This allows you to return any product that is faulty or unsuitable at no charge to yourself.
Extensive Rewards
Whilst many of the popular reward programs out there offer their customers just 1 reward point for each dollar spent using the card, with the AMEX Platinum Reserve Credit Card you get a very tasty 1.5 points per dollar, making it even easier to rack up those reward points at speed.
Once you have amassed enough points you can treat yourself from the huge range of gifts and rewards offered through the Ascent scheme. In fact there is an estimated choice of around 1500 different options for you to choose from.
You can even choose to turn your points back into credit on the card, saving you even more money.
How Do I Apply?
So you have been blown away by what is on offer, but how can you apply and who is eligible?
You must be at least 18 years of age and a full time citizen of Australia before you can apply. You also need to be earning at least $65,000 dollars a year, making this a cad for the slightly higher earners.
Due to the higher credit normally offered with this card you will normally only be successful if you have a very good credit rating.
Application can be done online, in person or over the phone. Just make sure you have the important details to hand including, income details, previous addresses, work details, and knowledge of all outgoings that you have each month.
Read the American Express Platinum Reserve Credit Card terms and conditions.
| Minimum Income | $65,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $3,000 | |
| Max Credit Limit | $50,000 |
| Annual Fee | $395 p.a. | |
|---|---|---|
| Minimum Repayment | 2.5% | |
| Late Payment Fee | $30 | |
| Over Limit Fee | $15 | |
| Overseas Emergency Replacement | $0 | |
| Gambling Transactions Allowed | No |
Pros
- Card holders will receive one complimentary flight with Virgin Australia Economy every year or a complimentary nights stay in a participating hotel within Australia.
- Rewards points through the Platinum Ascent Program are earnt at 3.00 points per dollar opposed to most other rewards programs where the rate of accrual is only one point per dollar.
Cons
- American Express cards don't offer a balance transfer feature nor do they allow cash advances.
Read the American Express Platinum Reserve Credit Card terms and conditions.
Was this content helpful to you? No Yes
Ask a Question About This Card
8 Responses to American Express Platinum Reserve Credit Card
Credit Cards Comparison
* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.
I see my current Amex has just decreased the points paid when paying the Aus Tax Office.
Are there any American Express cards that offer a better point reward than that when paying ATO bills?
Hi Lisa. Thanks for your question. American Express offers 0.5 points per dollar spent when paying utility bills at Australia Post Offices – this is across all of their cards. You may want to consider an alternative frequent flyer credit card or rewards credit card. Thanks. Jacob.
Dose it cover two person for one fee? If our cards been stolen or being hacked, what is the liability for the card holders? As a current AE Platinum card holder, is it easy for me to switch to this new platinum reserve card?
Hi Peter. Thanks for your question. This account offers up to 4 supplementary cardholders at no additional cost. The primary account holder is liable for spending on all cards. If you would like to switch your current card to this card, you can either apply online and cancel the old card once the new card is activated, or you can contact American Express to arrange an upgrade. Sorry for the delayed response. Jacob.
Can you please advise if this card can convert reward points into Singapore Airline or Qantas FF points?
Hi Janne. You will earn points for the Rewards Ascent Program when you make a purchase on your card. Points can be transferred for flights with the following partner airlines, Including Virgin Australia Velocity Frequent Flyer, Etihad Guest, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, Air New Zealand Airpoints™, THAI Royal Orchid Plus, Malaysia Airlines Enrich and Cathay Pacific Asia Miles. Hope this helps.
You will earn points for the Rewards Ascent Program when you make a purchase on your card. Points can be transferred for flights with the following partner airlines, Including Virgin Australia Velocity Frequent Flyer, Etihad Guest, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, Air New Zealand Airpoints™, THAI Royal Orchid Plus, Malaysia Airlines Enrich and Cathay Pacific Asia Miles. Hope this helps.
What about with Qantas?
and how soon after you receive the card can one use the free flight? What re the restrictions/limitations?
Hi Leonardo. Thanks for your question.
American Express Membership Rewards can be transferred to the Qantas Frequent Flyer Program if you’re a holder of an American Express Platinum Charge Card. The complimentary flight offer is run through Virgin and is subject to availability of seats. Detailed information about this offer can be found in the terms and conditions, which I’ve sent to your email, but to list the important conditions:
Point 5 on page 29 states: ‘You are entitled to one Flight in each full year of Platinum Reserve Credit Card membership. A year is 365 consecutive days, starting on the date your Platinum Reserve Credit Card is issued or any anniversary of that date. Your Flight must be booked before the end of each year. Flight benefits cannot be carried forward to any subsequent year.
Point 6: ‘You may book your Flight in the name of another individual, but not for an unaccompanied minor.’
Point 7: ‘To qualify for a Flight, you must have paid the Minimum Amount on your first and most recent Platinum Reserve Credit Card statements by the due date and have maintained your account with American Express in good standing.’
Please see the terms and conditions for further information.
Let us know if there’s anything else.
Jacob.