BankSA Amplify Platinum Credit Card

My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
BankSA Amplify Platinum Credit Card
Apply by 18 apr 18
Up to 60,000 points. Conditions Apply.
Earn 1 Amplify point per $1 spent.
Complimentary overseas travel insurance.
Add to comparison
Amplify QantasAmplify Rewards
Amplify Qantas or Amplify Rewards
0.5 pts
per $1 spent
-

Pros & cons

What's good?

What's not so good?

Earn up to 60,000 bonus Qantas or Amplify Points when you spend $3,000 within 90 days from card approval. Exclusions apply.
Earn 1 Amplify point per $1 spent.
Flexibility to transfer points to Qantas Frequent Flyer where 2 Amplify points are worth 1 QFF point.
Complimentary membership to Qantas Frequent Flyer if you need it.
Complimentary overseas travel insurance.
Better Qantas Frequent Flyer points earning rates can found on other cards.
Foreign transaction fee of 3% of the Australian dollar value of each foreign transaction.

Our review

Our review of the BankSA Amplify Platinum Credit CardReviewed by Yvonne Taylor

How would you like to have a credit card that allows you to switch between earning frequent flyer points and standard rewards program points, as often as it suits you to do so? Most rewards credit cards lock you into either one program or the other, but the BankSA Amplify Platinum Credit Card lets you change your mind without penalty. You could save Qantas Frequent Flyer points until you have enough in the kitty for an overseas airfare, and then swap to Amplify Rewards to earn hotel accommodation points, or exchange points for some swish new suitcases. And whichever program you choose, you have the potential to earn a massive bonus 60,000 points to get you started.

Up to 60,00 bonus points on offer

How good would it be to kick off your points account, or boost your existing points, with an extra 60,000 – QFF or Amplify, your choice. Simply spend $3,000 during the first 90 days after card approval – that’s just $1,000 per month – to receive 60,000 bonus points. 60,000 QFF points is enough for a one-way economy flight to Europe or the US, while the same number of Amplify points could be converted to around $360 worth of shopping cards.

Earning Qantas Frequent Flyer points

If you choose to earn Qantas points you’ll do so at the ongoing rate of $1 spent = 0.5 QFF points earned, for all your card purchases. All points are uncapped, a feature that is becoming something of a rarity, meaning there’s no restriction on the number of points you can earn per month or per year.

Use your card to buy Qantas flights or other Qantas products, quote your frequent flyer membership number, and you’ll earn extra points from Qantas itself.

QFF points earning rate only moderate

The card’s QFF points earning rate is not the best available on the market. However, rewards program earning rates always need to be assessed in conjunction with the annual card fee and any other complimentary benefits. One of those benefits is the QFF program joining fee, currently $89.50, which the bank will pay on your behalf if you are not already a member.

Redeeming Qantas Frequent Flyer points

The most cost effective way to use QFF points is to use them for long-haul flights or business class upgrades. But you can also exchange points for merchandise or retail and hotel accommodation vouchers at the Qantas online store. 8,000 points, for example, will buy you a one-way economy flight between Sydney and Melbourne (before airport taxes) and most $50 retail gift cards cost 8,290 points.

Earning Amplify Rewards points

In the bank’s own points scheme, the Amplify Rewards program, you can earn at the rate of $1 spent = 1.0 Amplify points.

Redeeming Amplify Rewards points

There is a wide variety of options for Amplify points redemption, including:

  • An online merchandise catalogue featuring appliances and homewares, technology, fashion, toys, sporting goods and more
  • Movie tickets, theme park passes and other entertainment opportunities
  • A range of retail gift cards. That same $$50 retail gift card, which cost 8,290 QFF points ($16,580 of card spending), can be yours for 11,100 Amplify points (a much lower $$11,100 worth of card purchases).
  • Booking domestic or international flights and hotel accommodation through Amplify Travel
  • Converting Amplify points to frequent flyer points with Malaysia Airlines, Singapore Airlines or Virgin Australia, at the rate 2 Amplify points = 1 airline point
  • Turning your points into a cash superannuation deposit in a BT Super for Life account, at the rate of 3,000 points = $15
  • Using 18,000 points to pay the card’s $99 annual fee
  • The opportunity to convert your points into a cash donation to a worthwhile charity

Complimentary insurance policies

The list of built-in benefits continues with an extensive range of insurance cover:

  • Overseas travel insurance. International travel becomes a worry-free zone when you and your family are covered for medical expenses, trip cancellation and delays, luggage that is lost, stolen or damaged, rental vehicle insurance excess, and more.
  • Transit accident insurance. Receive a cash compensation if you suffer loss of life or limb while travelling on public or commercial transport.
  • Extended warranty insurance. The manufacturer’s Australian warranty on goods purchased is doubled, up to a maximum of one additional year.
  • Purchase protection insurance. 90 days of cover against loss, theft or accidental damage.

These policies are activated when goods or travel fares are purchased with the card. For international travel insurance you need to use the card to pay at least $500 of the travelling group’s prepaid travel, accommodation or tour expenses.

Platinum privileges

Would you like to get the most out of life, even though you are time poor? If so, you could make good use of the card’s Visa Platinum concierge service. Dial the number provided and explain your needs – restaurant booking, theatre tickets, local sightseeing tours, hotel recommendations or reservations – and let your personal concierge take care of it.

It’s worth taking a look at the Visa Premium website to check out the other lifestyle benefits and discounts, such as access to pre-sale event tickets, that come packaged with a Visa Platinum card.

Typical interest rates

Look elsewhere if you regularly run an overdue balance or rely on credit card cash advances. The interest rates –19.49% p.a. for purchases and 20.24% p.a. for cash advances – are predictable platinum card rates.

And the cost is . . . ?

Rewards points with the ability to switch programs, substantial bonus points, complimentary insurance and platinum privileges, all come at a price. In this case it’s $99 p.a. which is not too bad for a rewards card with other benefits. There is also no charge for a supplementary card.

Why choose this card?

The BankSA Amplify Platinum Credit Card will suit you if you like to have lots of choices. The ability to flip between QFF points and the bank’s own rewards program is rare. It means you can tailor your points earning to suit your changing needs. And even if you decide to stick with Amplify Rewards, there are so many ways to redeem points that you are unlikely to feel restricted.

Most other boxes (bonus points, complimentary insurance, lifestyle privileges) are ticked, so provided you are not looking for low ongoing interest rates, this card could be your most suitable option.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
Yes
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
$Same as standard
Pensioners
Rewards program
Amplify Qantas or Amplify Rewards
Temporary residents
N/A

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
$35,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.69% 20.24% p.a.
Purchases 1.62% 19.49% p.a.

Fees

Annual fee
$99 p.a.
Cash advance fee
2%
Dishonour fee
$9
Duplicate statement fee
$4.50
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
$15
Overseas ATM balance fee
$2.50
Overseas ATM withdrawal fee
$2.50
Overseas emergency card replacement fee
$52.50
Transaction verification fee
$0

Rewards & points

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
60,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Amplify Qantas or Amplify Rewards
Spend required for bonus points
$3,000 in 90 days

Earning points with this card

Frequent flyer points
0.5 pts per $1 spent
Overseas earn rate
0.5 pts per $1 spent (QFF)
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,059

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
Travel
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years. Note that this benefit does not apply if cardholder chooses Amplify Rewards rather than Qantas Frequent Flyer points.
$18
Total estimated value$1,059
Annual fee$99
Net customer value$960
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 weekly income
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are allowed
Age Pension, Disability Pension and Widower's Pension are acceptable.
Family Tax Benefits and Parenting Payments is acceptable.
Austudy, Carer's Allowance, Child Support Payments and Foster Care Allowance are not 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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