American Express Platinum Edge Credit Card | Reviewed

American Express Platinum Edge Credit Card Online Exclusive Offer

What do you want this card for?
Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
American Express Platinum Edge Credit Card Online Exclusive Offer
Apply by 04 apr 19
American Express Platinum Edge Credit Card Online Exclusive Offer
CREDIT CARD COMPARE EXCLUSIVE: Receive 30,000 Membership Rewards Bonus Points when you apply online by 4 April 2019, are approved and spend $750 on your new Card within the first 3 months.
Start your holiday with a $200 Travel Credit every year.
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%
Add to comparison
Membership Rewards
Membership Rewards
1 pt
per $1 spent
30,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

CREDIT CARD COMPARE EXCLUSIVE: Receive 30,000 Membership Rewards Bonus Points when you apply online by 4 April 2019, are approved and spend $750 on your new Card within the first 3 months.
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
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 dollar spent at major supermarkets.
Earn 2 Membership Rewards points per dollar spent on petrol stations.
Earn 1 Membership Rewards points per dollar spent on other purchases (Conditions apply).
Up to 55 days on purchases.
Eligible for use with Apple Pay, Samsung Pay and Google Pay.
$195 p.a. annual fee.
The 1% balance transfer fee.

Point redemption rates will change as of 15 April 2019. Please go to bit.ly/rwd415 for more details.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the American Express Platinum Edge Credit Card Online Exclusive OfferReviewed by Yvonne Taylor

The American Express Platinum Edge Credit Card Online Exclusive Offer 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.

But with this Credit Card Compare Online Exclusive Offer you can also easily qualify for a very welcome 30,000 bonus Membership Rewards points.

30,000 American Express Membership Rewards points

This card automatically enrols you in the highly-regarded Amex Ascent rewards program, rather than the entry-level Gateway tier (saving you $80 per year, Amex says, but does anyone actually pay the membership fee?). Apply via Credit Card Compare and you’ll get 30,000 bonus points if you spend more than $750 in the first three months of holding the card, which is a very low 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 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.

Amex companion cardholders are eligible for bonus points

Only new Amex card members are eligible for the bonus points, so if you have held a card directly issued by American Express in the last 18 months, you won’t get the 30,000 bonus points.

But if you have a companion Amex card (that is, an Amex card which is one of a pair on the same account as a bank-issued Visa or Mastercard) you will still receive the bonus points.

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. 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 Honors and Marriott Convoy.

Great points earning potential

You can earn up to a satisfying (and uncapped) 3.0 points per $1 spent. Here’s how the tiered system, which benefits everyday spending, works – until 14th April 2019:

  • 3.0 points per dollar at major supermarkets
  • 2.0 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 ATO (so you can earn points on your tax payments)
  • 1.0 points per dollar everywhere else

Points rate gets even better from 15th April 2019

It’s not often that a credit card provider actually increases the rate at which you can earn points on your everyday spending, but this is a card where the good news becomes even better. From 15th April 2019 you will earn points as follows:

  • 3.0 points per dollar at major supermarkets
  • 3.0 points per dollar at major petrol stations
  • 2.0 points per dollar on overseas spending, including online
  • 1.0 points per dollar everywhere else, including utilities, government, &c

Free additional cardholders

If you make use of having free supplementary cards (up to four per account are available), you can earn points even faster by getting your family members to add to your rewards 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, overseas and domestic up to $10,000
  • Baggage, money and documentation cover, overseas and domestic up to $10,000
  • Personal liability cover when travelling, worldwide 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 for all travellers to be covered.

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 points for 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 12 months. However, there is a 1 percent 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 12 months is the standard purchases interest rate of 20.74 percent.

You would save a net $1,807 by transferring a balance of $10,000 from a card (or cards) with an interest rate of 20 percent 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 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 Invites and Amex Offers programs

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 Amex Offers, which has constantly updated offers for Amex cardholders to either make cash savings on purchases 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.

Digital wallet enabled

If you’d like to pay with your smartphone, all bases are covered since you can use the card with Apple Pay, Samsung Pay and Google Pay.

Reasonable 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 and the annual travel credit) are taken into consideration. Use the annual travel credit every year, and your card is effectively free.

Competing cards

Compare this card with other platinum rewards cards on our ‘Platinum Credit Cards’ page. Simply click ‘Features’ at the top of this page, then ‘All Features’. Scroll down to ‘Rewards Credit Cards’ and select ‘Platinum Credit Cards’.

It’s not easy to compare earning and redemption rates when each card issuer has its own loyalty program and points redemption store. But the earn and burn rates on all American Express cards, and particularly this one, compare very favourably with comparable competitors’ cards, even after the Amex changes to earning and redemption rates which come into effect on 15th April 2019.

Likely cardholder profile

You’ll 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, and there are so many ways to earn points at an elevated rate that points redemption should be a regular event.

And with this online exclusive offer, you can earn bonus points not available elsewhere.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

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
N/A
Minimum age
18 years old
Minimum income
$50,000
Minimum income for pensioners
N/A
Pensioners
N/A
Rewards program
Membership Rewards
Temporary residents
Business Long Stay Visa (subclass 457)

Cardholders

Additional cardholders
4
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
whichever is greater, $30 or 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 Online Exclusive Offer 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
$195 p.a.
Cash advance fee
N/A
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 & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
30,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Membership Rewards
Spend required for bonus points
$750 in the first 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
Points earned on ATO payments
0.5 pts per $1 spent
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
No

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
Disclaimer: The minimum criteria 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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