BankSA Amplify Platinum Credit Card | Review & Apply

BankSA Amplify Platinum Credit Card (Amplify)

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Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
BankSA Amplify Platinum Credit Card (Amplify)
Apply by 12 feb 20
BankSA Amplify Platinum Credit Card (Amplify)
Earn up to 100,000 points Bonus Amplify Rewards Points (conditions apply).
Reduced annual fee of $49 p.a. for the first year. Reverts to $99 p.a. thereafter.
Enjoy 0% p.a. for 6 months with 0% fee on balance transfers.
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Amplify Rewards
Amplify Rewards
1 pt
per $1 spent
100,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Earn up to 100,000 points Bonus Amplify Rewards Points* over 2 years when you spend $6,000 on eligible purchases each year. Exclusions apply.
Reduced annual fee of $49 p.a. for the first year. Reverts to $99 p.a. thereafter.
No cap on the number of points you can earn.
Flexibility to choose Amplify Qantas or Amplify Rewards as your rewards program.
Enjoy 0% p.a. for 6 months with 0% fee on balance transfers requested at new card application. Rate reverts to cash advance rate.
International travel insurance for trips up to 3 months for you and your family. The cover includes medical expenses, unexpected trip cancellation and rental vehicle excess.
24/7 Visa Concierge service to help you make bookings.
For information about Qantas points earning rate of this card, please click here.
Foreign transaction fee of 3% of the Australian dollar value of each foreign transaction.

*Once the eligible spend requirement has been met, bonus points will be credited to your account within the next 12 weeks.

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 BankSA Amplify Platinum Credit Card (Amplify)Reviewed by Yvonne Taylor

A rewards credit card that allows you to switch between earning Qantas frequent flyer points and a bank’s in-house rewards program points, as often as you choose, is a rare offer. You’ll only find it in the St. George/Bank of Melbourne/BankSA group. (Westpac has a similar card range but with more restricted switching options.)

If you would appreciate the opportunity to collect either Qantas points (to use for Qantas and partner airline award flights and seat upgrades) or Amplify Rewards points (to have the option of converting points to other airlines’ frequent flyer programs), then the BankSA Amplify Platinum Credit Card could be the card you are looking for. You’ll get generous ‘welcome aboard’ bonus points, ongoing points earning and platinum benefits.

This review examines the benefits of choosing the Amplify Rewards points option.

100,000 bonus Amplify Rewards points on offer

Get your points account off to a flying start with a huge bonus – 100,000 Amplify Rewards points. Simply spend $6,000 each year during the first two years – that’s an average of just $500 per month, which most cardholders would cover with everyday expenses – and you’ll receive 70,000 bonus points for the first year and 30,000 bonus points on the second year.

100,000 Amplify points could be exchanged for 50,000 Virgin Australia Velocity Frequent Flyer points, enough for a return economy flight from Melbourne or Sydney to Bali (44,600 points).

Earning Amplify Rewards points

For all of your purchases, you can earn points 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. The 100,000 bonus points could be exchanged for $450 in gift cards.
  • 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

If Velocity points are your main objective, you can opt in to have your Amplify points automatically converted to Velocity points. Set and forget.

Complimentary insurance policies

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

  • Overseas travel insurance: International travel cover for cardholders and accompanying spouse and dependents, for emergency medical expenses, trip cancellation and delays, luggage that is lost, stolen or damaged, rental vehicle insurance excess, and more.
  • Transit accident insurance: Cash compensation for serious injury or death as a result of an accident 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.

Activate the policies by purchasing with your card the goods to be covered. In the case of overseas travel cover, this means using the card to purchase the travelling group’s airfares.

Platinum benefits

Since this is a Visa Platinum card, you’ll be given access to the Visa Platinum concierge service. Use it for restaurant booking, theatre tickets, sightseeing tours, hotel recommendations or reservations – at home or overseas.

Also take a look at the Visa Platinum website to check out more Visa Premium lifestyle benefits and discounts, such as access to pre-sale event tickets.

Interest rates predictably high

Rewards cards are not the best choice for anyone not planning to repay the balance of their purchases in full every month, so BankSA have not made any special effort with this card’s interest rates. They are a fairly typical 19.74% p.a. for purchases and 21.49% p.a. for cash advances – predictable platinum card rates.

How much is the annual fee?

At $99, with no extra charge for a supplementary card on the account, it’s a not unreasonable price for rewards points with the ability to switch programs, substantial bonus points, complimentary insurance and platinum privileges.

But, for a limited time offer, the card offers a reduced annual fee of $49 p.a. for the first year and reverts to $99 p.a. starting on the first anniversary of your card.

Take a look at the competition

If you’re not too concerned about being able to switch rewards programs, there are dozens of single-program rewards cards to choose from – Qantas cards, Velocity cards, Emirates cards, American Express cards, supermarket cards and bank rewards program cards. You’ll find them listed on the ‘All Rewards’ page in our Features section. Use the filters at the top of the listing to narrow down the choices to fit your personal needs.

Why choose this card?

This card ticks lots of boxes: bonus points, ongoing rewards points, plenty of points redemption options, complimentary insurance and lifestyle privileges. Add in the built-in ability to switch to Qantas points down the track if you need to, and almost every base is covered.

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
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 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%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit21.49% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
N/A
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the BankSA Amplify Platinum Credit Card (Amplify) at the promotional balance transfer rate from:

  • Bank of Melbourne
  • Bank SA
  • St.George

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit 21.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.65% 19.74% p.a.

Fees

Annual fee
$49 p.a.
Annual fee 2nd year
$99 p.a.
Cash advance fee
2%
Dishonour fee
$9
Duplicate statement fee
$7.50
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
N/A
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: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
100,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Amplify Rewards
Spend required for bonus points
$6,000 each year in 2 years

Earning points with this card

Frequent flyer points
(refer to "Pro" section)
Overseas earn rate
1 pts per $1 spent
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

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 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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