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 in to 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 50,000 points to get you started.
50,000 points on offer
How good would it be to kick off your points account, or boost your existing points, with an extra 50,000 points – QFF or Amplify, your choice. Simply spend $2,000 in 90 days after card approval – that’s just $667 per month – and those valuable bonus points will be yours. 50,000 points is more than enough for a one-way economy flight to Los Angeles (45,000 points), while the same number of Amplify points could be converted to around $225 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 0.5 pts per $1 spent (QFF) 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 pt per $1 spent = Amplify points.
Redeeming Amplify Rewards points
There is a wide variety of options for Amplify points redemption, including:
Complimentary insurance policies
The list of built-in benefits continues with an extensive range of insurance cover:
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.
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. a year, which is not too bad for a rewards card with other benefits. There is also no charge for a supplementary card.
Are there other cards like this?
Besides the St. George group cards, the only other range of cards that lets you choose between Qantas points and a proprietary rewards program is the Westpac Altitude series. The Westpac Altitude Platinum Card has similar benefits to the BankSA card, including bonus points.
If you don’t mind which kind of points you earn, but want a platinum card with a fee lower than $100, consider the HSBC Platinum Credit 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.
|Cash advances||1.69%||20.24% p.a.|
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.
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.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
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.
|Total estimated value||$1,059|
|Net customer value||$960|