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American Express Platinum Edge Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
American Express Platinum Edge Credit Card
APPLY BY 27 mar 17
21 reviews
$0 p.a. annual fee for the first year, then $195 p.a.
5,000 points bonus Membership Rewards points when you spend $750 in 3 months.
0% p.a. on balance transfers for 12 months.
Add to comparison
Membership Rewards
Membership Rewards
1 pt
per $1 spent
5,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

$0 p.a. annual fee for the first year, then $195 p.a.
0% p.a. for 12 months on balance transfers if you need it.
5,000 points bonus Membership Rewards points when you spend $750 in 3 months.
Start your holiday with a $200 Travel Credit every year
Range of travel insurances including overseas medical emergency expenses, travel cancellation cover and more.
Earn 3 Membership Rewards points per $1 spent at major supermarkets, 2 points at major petrol stations, and 1 point on all other purchases (exclusions apply).
Up to 55 days on purchases.
The second year annual fee of $195 p.a.
The 1% balance transfer fee.
You won’t qualify for the bonus points if you have held any kind of AmEx card in the previous 18 months.

Review

Our review of the American Express Platinum Edge Credit Card

The American Express Platinum Edge Credit Card truly does have an edge on many of its competitors, offering all the advantages of a platinum level card at a reasonable price. It’ll spark your interest if you’re keen to earn rewards points at a very fast rate and enjoy complimentary benefits which will enhance your travelling and shopping experiences.

5,000 points

This card automatically enrols you in the highly-regarded AmEx Ascent rewards program (saving you $80 per year, AmEx says, but does anyone actually pay the membership fee?). You’ll get 5,000 points if you spend more than $750 in 3 months of holding the card, which is not an onerous target. It’s a great start towards earning points for redemption against a wide range of travel, entertainment and shopping options.

You can also use your points to shop at David Jones online, purchase retail store and online gift cards, buy foreign currency or even reduce the balance owing on your credit card account. Additional options include using points to pay for travel booked through Webjet, Helloworld and American Express Travel Online, and entertainment experiences arranged via Ticketmaster.

Convert points to airline miles or hotel club rewards

One of the best features of the Ascent level of AmEx Membership rewards is the ability to transfer points to a long list of airline and hotel loyalty programs, mostly on the basis of 1 AmEx point = 1 airline mile or 1 hotel club point. Airline points partners include Virgin Australia, Virgin Atlantic, Emirates, Etihad, Singapore Airlines, Air New Zealand, Thai Airways, Malaysian Airlines and Cathay Pacific, but not Qantas, unfortunately. The hotel loyalty programs are Hilton Hhonors and Starwood Preferred Guest.

Great points earning potential

You can earn up to a satisfying 3 points per $1 spent. Here’s how the tiered system, which benefits everyday spending, works:

  • 3 points per dollar at major supermarkets
  • 2 points per dollar at major petrol stations
  • 0.5 points per dollar when paying for utilities, insurance (except AmEx insurance) and telecommunications, and for payments to government bodies in Australia, including the AT’ (so you can earn points on your tax payments)
  • 1 pt per $1 spent everywhere else

Free additional cardholders

If you make use of having free supplementary cards (up to four are available), you can earn points even faster by getting your family and friends to add to your reward earning potential.

$200 travel credit every year

If travelling is something you love to do (or do out of necessity for business), you’ll appreciate the annual $200 travel credit voucher redeemable through American Express Travel online.

Built-in insurance cover

Since this is a card aimed at travellers, holding and using the card gives you a range of free insurance cover as well, including:

  • Overseas medical emergency expenses cover up to $2,500,000 for you and your family
  • Unavoidable travel cancellation cover up to $10,000
  • Baggage, money and documentation cover up to $10,000
  • Personal liability cover up to $1,000,000
  • Travel inconvenience cover for flight delays (including domestic flights), missed connections or luggage delays
  • Transport accident cover for when you and your family travel on planes, trains, buses and ferries
  • Purchase protection cover, providing 90 days insurance against loss, theft or damage of items bought with the card
  • Buyer’s advantage cover, which provides up to one year’s additional warranty on items purchased with the card
  • Refund protection cover, where retailers refuse to accept return of an unused item within 90 days

Note that the overseas and domestic travel insurance policies are activated by using the card to purchase the full fare for the trip.

When you’re on the road, it’s reassuring to have access to a 24/7 customer service team that will go the extra mile for you. If you have questions regarding your account, would like to redeem a flight or report a lost or stolen card, Platinum Priority Service promise to take care of you.

Balance transfer if you need it

Transfer a balance of up to $10,000 from another (non-AmEx) card and pay no interest for twelve months. However, there is a 1% credit establishment fee, meaning that you would in fact have to repay $10,100 if you transferred the maximum amount, and the revert rate at the end of six months is the standard purchase rate of 20.74% p.a.

AmEx’s balance transfer calculator says that you would save over $1,807 by transferring a balance of $10,000 from a card (or cards) with an interest rate of 20% p.a.

Be aware, though, that having an unpaid balance transfer makes you ineligible for the interest-free days on purchases (Up to 55 days on purchases with this card), so you might want to use another card for your purchases during the first year if you do take the balance transfer option.

American Express Connect

A platinum card means a platinum lifestyle. As a cardholder, you’ll gain access to reserved event seating through American Express Invites and will be connected to overseas dining experiences through Taste From American Express Invites.

Perhaps more usefully, you’ll also be able to participate in American Express Connect, which has constantly updated offers for AmEx cardholders to either make cash savings or receive special retail and travel privileges.

Fraud protection

Perhaps one of the most important aspects of any card is its security. You want to know you’re covered if things go wrong, and this is definitely the case with the Platinum Edge credit card. You’ll get the AmEx online fraud protection guarantee as well as the wide-ranging insurance benefits, all adding up to peace of mind for the traveller.

First year free, reasonable ongoing annual fee

As is the case with any card you’re thinking of applying for, always make sure the annual fee is worth your while. In this case it’s $195 p.a., quite reasonable when all the benefits (especially the high points earning rate) are taken into consideration. But there’s an introductory sweetener as well. No annual fee is charged for the first year, which means that you can enjoy all the benefits for 12 months and pay absolutely nothing.

Competing cards

The Westpac Altitude Black Credit Card and the ANZ Rewards Black Credit Card both offer 3.0 points per dollar spent using the AmEx card which comes in their AmEx/Visa bundle. Their points are linked, through, to the bank’s’ proprietary reward schemes, Altitude and ANZ Rewards, not to the popular and extremely flexible AmEx Ascent program, and they both carry a much higher annual fee.

Likely cardholder profile

You’d need to be a fairly big-spending regular traveller to get the most from this card, but you’ll certainly reap the rewards fairly quickly. The $200 travel credit and suite of insurance policies alone will justify the annual fee several times over (while being completely free in the first year), and there are so many ways to earn points at an elevated rate that points redemption should be a regular event.

User reviews

4.3 out of 5.0 based on 21 reviews95% of reviewers would recommend this card.

Rates and fees
Rewards
Customer service
Convenience
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Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

Flight benefit changed, so unsure going forward

Reviewed and recommended by Valerie on 03 Jan 2017

I’ve had my American Express Platinum Edge card for about four years and it has been great until recently, when they decided to replace the free return domestic flight with a $200 travel credit. I don’t know if it is worth it any more, given that the travel credit expires within a year and you can only use the travel credit with AmEx Travel.

Good credit card but I won't be renewing it

Reviewed and not recommended by Erin on 31 Dec 2016

I’ve had my credit card for five years and enjoyed the “free” domestic Virgin flight that my annual fee helped pay for. Now the $199 annual fee only gets you a $200 travel credit that you can use through the AmEx travel agency. It’s a shame that the prices of the travel agency are so over-inflated. I like the card but won’t be renewing it.

Also, it annoys me that AmEx isn’t readily accepted and that there are often extra charges to use your AmEx. The customer service is amazing, however. I also trust the AmEx brand but I feel like I don’t make enough use of the rewards program, hence, why I’m not renewing it.

Benefits offset the annual fee

Reviewed and recommended by Sugiarto on 07 Dec 2016

This is one of the top credit cards I’m using right now. i applied for this credit card because I heard about the benefits from lots of my friends. Benefits such as: credit statement, promotions, good customer service

Even though American Express comes with a high annual fee, all the benefits I get offset the annual fee.

Good value credit card, hopefully nothing changes

Reviewed and recommended by James on 06 Dec 2016

The card has good points earning, good added bonuses of travel insurance and a free domestic return flight each year (which offsets the annual fee).

AmEx regularly hold promotions to get cash back on purchases, which acts as an added bonus.

There’s a good mobile phone app and website, which makes viewing details very easy.

The interest rate is higher than others, but always paying the balance at the end of each month obviously overrides any negative to this.

Fantastic card with awesome benefits

Reviewed and recommended by Ibrahim on 22 Nov 2016

This card has to be one of the best cards I have used. The card provides a fantastic facility for earning points for every dollar you spend as well as special offers (including specials, discounts and statement credits or cash back) for AmEx card holders.

The card also includes a free domestic return flight every year, which is fantastic.

Generous rewards points, top-notch service

Reviewed and recommended by Erin on 29 Oct 2016

It’s a good card but the fees have now gone up, so the free flight every year isn’t such a good deal unless you can go somewhere far with it. So it looks like I’m off to Adelaide again!

The rewards points are generous and I have cashed them in for free flights before.

Customer service is always top-notch.

Good rewards easily offset the annual fee

Reviewed and recommended by Mat on 20 Sep 2016

For a $195 annual fee I got an included return flight from Melbourne to Sydney and accrued enough points for two return business class flights from Melbourne to the Gold Coast, saving over $2500.

A very handy card to have with excellent points accrual potential on groceries and fuel, which we all buy anyway.

Insurance cover is good

Reviewed and recommended by Colin on 20 Sep 2016

I find the fact that I have cover via my Insurance policy with my Amex Platinum card is a great saving. Discussions with staff proved most helpful in determining what cover I have etc. Use of the card in Thailand was no problem either, and we used it extensively in both Singapore and Thailand.

A great card for bonus points

Reviewed and recommended by Neil on 20 Sep 2016

The card allows 3 points to be earned on all supermarket shopping, 2 points on fuel purchases and 1 for all others. This allows points to be accumulated and grow very quickly, which is great for getting rewards.

AmEx often have special offers for shopping and provide entertainment details especially for members before the general public.

They provide great customer service and no issues appear to be problematic for their customer service officers.

Best credit card on the market

Reviewed and recommended by Michael on 20 Sep 2016

This is the best credit card, as it has a triple points offer, a free flight within Australia and excellent limit and services.

It has a 24/7 concierge and can book your flights.

Once I was on a trip and I accidentally lost my passport, but had it covered under insurance because I booked my flight with the card. Well worth the cost.

Show 11 more reviews

Basic details

About this card

Card setup
Single
Card tier
Platinum
Card type
American Express
Card use
Personal
Credit rating
No bad credit history
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$50,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Membership Rewards
Temporary residents
N/A

Cardholders

Additional cardholders
Unlimited
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$3,000
Maximum credit limit
$50,000

Repayments

Interest charged from
Statement date
Interest free period
Up to 55 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit20.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
$10,000 or 70% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the American Express Platinum Edge Credit Card at the promotional balance transfer rate from:

  • American Express

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% of credit limit 20.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances N/A N/A
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$0 p.a.
Annual fee 2nd year
$195 p.a.
Cash advance fee
None
Dishonour fee
$6
Duplicate statement fee
$10
Foreign exchange fee
3%
Late payment fee
$30
Over limit fee
$15
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$2.50
Overseas emergency card replacement fee
$0
Transaction verification fee
$7

Rewards

Where will your points take you?

Points:
 
Trip:
Origin:
    Rewards program:
      Class:

        Cool stuff you can get with your points

        Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

        Rewards program basics

        First purchase bonus
        5,000 points
        Reward points expiry
        Never as long as you keep your account active
        Rewards program
        Membership Rewards
        Spend required for bonus points
        $750 in 3 months

        Earning points with this card

        Frequent flyer points
        1 pt per $1 spent
        Overseas earn rate
        Same as standard earn rate
        Points cap per month
        Unlimited
        Points cap per year
        Unlimited
        Reward points
        1 pt per $1 spent

        Additional benefits

        Airport lounge access
        No
        Complimentary flight voucher
        No
        Concierge service
        No

        Benefits

        This card comes with benefits worth an estimated $1,177

        ShoppingEstimated value
        Extended warranty
        Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
        $50
        Purchase protection
        Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
        $40
        Refund cover if retailer refuses return
        Most major retailers have 100% guaranteed returns, but not all do. Valuation assumes making a $100 claim once every 5 years.
        $20
        Travel
        Interstate flight inconvenience insurance
        Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
        $290
        Overseas travel insurance
        Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
        $627
        Transit accident insurance
        Valuation based on similar global transit accident insurance policies available online.
        $150
        Total estimated value$1,177
        Annual fee$0
        Net customer value$1,177
        Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

        Minimum criteria for this card

        What you need before applying

        Be over 18 years old
        You are a resident or citizen of Australia
        Earn a regular income of more than $50,000 per year
        Have no history of bad credit
        You have your personal details ready to complete the online application
        Have not applied for multiple credit cards recently
        Joint applications are not allowed
        Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
        Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are acceptable.
        Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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