American Express Platinum Edge Credit Card | Reviewed

American Express Platinum Edge Credit Card

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
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.
Add to comparison
Membership Rewards
Membership Rewards
0.5 pt
per $1 spent
-

Pros & cons

What's good?

What's not so good?

0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%. T&Cs apply.
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 and petrol stations.
Earn 2 Membership Rewards points per dollar spent on overseas spend.
Earn 1 Membership Rewards point per dollar spent on other purchases.
Up to 55 days on purchases.
$195 p.a. annual fee.
The 1% balance transfer fee.

Transfer rate applies to Velocity, KrisFlyer and Skyward Mile programs, while the Air NZ transfer rate is 200 Membership Rewards Points to 1 Airpoint Dollar.

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 CardReviewed by Yvonne Taylor

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.

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:

  • 3.0 points per dollar at major supermarkets and petrol stations
  • 2.0 points per dollar on overseas spending
  • 1.0 point per dollar everywhere else, including spending on government, utilities, insurance and telecommunications

Also note that these are American Express Membership Rewards Ascent program points, which come with extra benefits not attached to the entry-level Gateway program.

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 loyalty programs, mostly on the basis of 2.0 Amex points = 1.0 airline mile. Airline points partners include Virgin Australia, Virgin Atlantic, Emirates, Etihad, Singapore Airlines, Air New Zealand (200 points = 1 Airpoints dollar), Thai Airways, Malaysian Airlines and Cathay Pacific, but not Qantas, unfortunately. The hotel loyalty programs are Hilton Honors (2.0 Amex points = 1.0 Hilton points) and Marriott Bonvoy (3.0 Amex points = 2.0 Marriott Convoy points).

Other ways to redeem points

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.

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 12 months is the standard purchase rate of 20.74%.

You would save around $1,806 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 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.

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) are taken into consideration.

Competing cards

You can compare the features of this card with other platinum rewards cards on the ‘All rewards’ page in our Features section. Significant competitors include the Qantas Premier Platinum Credit Card, the Virgin Australia Velocity High Flyer Credit Card and the St. George Amplify Signature Credit Card.

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

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.

User reviews

4.2 out of 5.0 based on 19 reviews95% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Perhaps best rewards card on the market

Reviewed and recommended by M on 28 Apr 2017

The 1:1 transfer ratio with major airline partners is a lot better than the 2:1 many other Visa/MasterCards or even bank-issued AmEx cards offer. You earn a point per dollar, and that doubles at petrol stations (surely an average driver uses $50 or more a week) and triples when you do your groceries. Add occasional AmEx offers, plus a travel credit that offsets the annual fee. So good.

Exceptional service

Reviewed and recommended by Mark on 26 Apr 2017

I find the AmEx Card very good and I’m able to use it almost anywhere.

Whenever I have had any issues the phone call centre is exceptional ( yes, exceptional). I use several credit cards and none match the AmEx service.

Interest rates are high but comparable to other brands. They do have specials on interest from time to time, but be careful to pay it off before it reverts to the higher rate. I would recommend this company AmEx as a very safe and secure global credit card provider.

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.

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.

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.

Good card, but I'd prefer wider acceptance

Reviewed and recommended by Bevan on 22 Jul 2016

Good card, but it would be better if more widely accepted. I use it most of the time, but there is a problem sometimes with not being able to get cash advances. I carry it all the time. Great rewards etc with points. I would upgrade to a higher card if i could. More credit is necessary for travel, but it’s a very good card .

A good card to have

Reviewed and recommended by Tony on 10 Jul 2016

Low fee vs good reward, it is a good card to have. Not like other cards that offer free air tickets, this American Express premium credit card has very acceptable annual credit card fee. You will able to get your money back from the air ticket alone, plus then you receive your credit card benefits for free.

Show 9 more reviews
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.

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 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
N/A
Overseas ATM withdrawal fee
N/A
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
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
Membership Rewards
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
0.5 pt per $1 spent
Overseas earn rate
2 pts per $1 spent
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
1 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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