High Income Credit Cards | Review, Compare & Apply Online

High Income Credit Cards

This selection of credit cards for high income earners can open up a world of rewards, benefits, personalised service and travel perks.

14 reviews
100,000 bonus Qantas Points and $200 back when you spend $4,000 on eligible purchases in the first 3 months.
Earn 1 Qantas Point per $1 spent on eligible purchases up to $7,500 per statement period.
Get complimentary International Travel Insurance (eligibility criteria apply) provided by Allianz Insurance.
balance transfer
purchase rate
annual fee
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NEW
American Express Westpac Altitude Black Credit Card Bundle® (Altitude)
Apply by 31 mar 20
Earn up to 140,000 bonus Altitude Points when you apply for the two-card bundle issued by Westpac and Amex until 31 March 2020. (Conditions Apply)
Reduced Annual Fee of $349 p.a. in the first year.
Earn up to 5 Altitude points per $1 spent on eligible overseas purchases. (Amex)
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20.49% p.a.
ongoing
$349
1st year
then $449
NEW
Westpac Altitude Black Credit Card (Altitude)
Apply by 31 mar 20
39 reviews
Receive 100,000 Altitude bonus points (terms and conditions apply).
Earn up to 6 Altitude points per $1 spent (terms and conditions apply).
2 complimentary passes per year to use at over 700 VIP Priority Pass airport lounges worldwide.
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20.49% p.a.
ongoing
$250
ongoing
NEW
Westpac Altitude Black Credit Card (Velocity)
Apply by 31 mar 20
Receive 80,000 bonus Velocity points (terms and conditions apply).
Get two (2) complimentary Economy X seat Upgrade vouchers each year (terms and conditions apply)
Enjoy two (2) Virgin Australia Lounge passes per anniversary year.
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20.49% p.a.
ongoing
$300*
ongoing
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 within the first 3 months. This offer is available to new Card Members only.
Earn 1.25 Velocity Points per $1 spent, except government bodies where you will earn 0.5 Velocity Points per $1 spent.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
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12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$375
ongoing
Receive 30,000 Membership Rewards points or 15,000 Qantas Points when you apply online, are approved and spend $750 outside of David Jones within the first 3 months of becoming a Card Member.
Earn 4 Reward Points per $1 spent at David Jones, 3 Reward Points per $1 spent at major supermarkets and petrol stations and 1 Reward Point per $1 spent elsewhere.
Flexibility to choose Qantas Frequent Flyer or Membership Rewards as your rewards program.
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20.74% p.a.
ongoing
$295
ongoing
NEW
American Express Westpac Altitude Black Credit Card Bundle® (Velocity)
Apply by 31 mar 20
Earn up to 100,000 bonus Velocity Points when you apply for the two-card bundle issued by Westpac and Amex until 31 March 2020 (conditions apply).
Reduced Annual Fee of $399 p.a. in the first year.
Earn up to 2 Velocity points per $1 spent on eligible overseas purchases. (Amex).
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20.49% p.a.
ongoing
$399*
1st year
then $499*
Virgin Australia Velocity Flyer Credit Card 0% p.a. Purchase Offer
Apply by 02 dec 19
2 reviews
0% p.a. for 14 months on purchases.
$129 Virgin Australia Gift Voucher each year.
Half annual fee in the first year (reverts to $129 p.a.).
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6 months
0% p.a.
then 20.99%
with a 0% fee
14 months
0% p.a.
then 20.74%
$64
1st year
then $129
Virgin Australia Velocity Flyer Credit Card 22 Months Balance Transfer Offer
Apply by 02 dec 19
0% p.a. for 22 months on balance transfers with a 1% BT fee (reverts to cash advance rate).
Save with a reduced $64 p.a. annual fee for the first year ($129 p.a. thereafter).
A $129 Virgin Australia Gift Voucher each year.
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22 months
0% p.a.
then 20.99%
with a 1% fee
20.74% p.a.
ongoing
$64
1st year
then $129
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.
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12 months
0% p.a.
then 20.74%
with a 1% fee
20.74% p.a.
ongoing
$195
ongoing
Receive up to 80,000 Membership Rewards Bonus Points when you apply online, are approved and spend $3,000 in the first 3 months.
Receive a $450 Platinum Travel Credit each year, which can be redeemed for flights, hotels or car hire.
Complimentary access for you and a guest to over 1,200 Airport lounges across 130 countries.
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-
$1,450
ongoing
Virgin Australia Velocity High Flyer Credit Card
Apply by 02 dec 19
Earn up to 100,000 bonus Velocity Frequent Flyer Points. (Conditions Apply)
0% p.a. for 15 months on balance transfers.
Exclusive new $129 Virgin Australia Gift Voucher which cardholders get each year.
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15 months
0% p.a.
then 20.99%
with a 0% fee
20.74% p.a.
ongoing
$289
ongoing
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Q&As about High Income Credit Cards from customers

Why should I choose a gold or platinum credit card?

Just because you’re a high earner doesn’t mean you are obliged to opt for a gold or platinum credit card – you may prefer a basic card with no annual fee – but if you do qualify for gold or platinum you can enjoy a wide range of extra features and benefits that are generally unavailable to people with smaller incomes. Banks value their top-earning customers, and reward them with higher credit limits, reasonable interest rates and bigger spending power. These cards also offer a selection of features that you don’t find on standard cards.

How much do I need to earn to qualify?

The banks normally require a minimum annual income for many of their cards. Some gold and platinum cards are available to people earning $30,000 or more per year, others require $50,000, while you need to be earning an annual income of at least $100,000 for some of the most prestigious products. To apply for a gold or platinum card you usually need an excellent credit history as well as a high income to qualify.

What rewards schemes can I join?

When you choose a gold or platinum credit card you can gain access to number of different rewards programs such as frequent flyer programs and shopping rewards, and you often gain bonus points for joining these schemes or spending above a certain level. When you are comparing and selecting your new card it’s important to find one with a rewards scheme that aligns with your spending habits and offers rewards you want to make use of.

What travel benefits are available?

Gold and platinum credit cards are often linked to frequent flyer programs in which you earn points and redeem them for all sorts of travel rewards including flights, accommodation, car rentals and other services. They also provide extra privileges such as a dedicated concierge service.

An important feature to consider when selecting a card is travel insurance. When you use your credit card to book and purchases travel expenses you and your family should be covered in the unfortunate event that anything goes wrong such as lost luggage, missed flights, theft and accidents. The insurance policies should extend to cover any medical or legal bills.

What about insurance on my purchases?

Because of their typically higher credit limits, gold and platinum credit cards allow you to buy expensive products, and provide valuable insurance covers on these purchases. The specific type of protection depends on the credit card, but should include cover for accidental damage, loss and theft, and typically lasts for three months after the purchase is made. You can also enjoy the peace of mind of extended warranty on household appliances, applied after the manufacturers’ warranty has expired. With some cards you can even make use of price match – if you purchase an item and later find it cheaper elsewhere, the bank refunds the difference.

What other protection is provided?

Security is an important concern for credit card users, especially if you are making big purchases, travelling and shopping online. Gold and platinum cardholders enjoy extra security measures including constant monitoring of activity on your account. If fraudulent purchases are made on your account you should receive a full refund. Some cards also have an added layer of security so if you become the victim of identity fraud the protection services help restore your credit profile.

What other factors should I consider?

When you are comparing high income credit cards you should find one with extra features that suit your spending habits, offering rewards you can use and the right kind of insurance cover. It is also essential to study the all-important basics: the interest rates and annual fee. When comparing fees and rates you will also notice that these types of cards tend to have a significantly higher annual fee than other cards. The fees and rates that they attract are well worth it because of all the added value and rewards that the cardholder enjoys, but only if you pay off your account in full each month. If you are upgrading to a gold or platinum card and have a debt on an existing credit card you should consider the balance transfer rates and terms.

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