About American Express credit cards
American Express (Amex) is known primarily for offering a range of credit cards with rewards and benefits. In Australia, American Express provides credit cards linked with the Qantas Frequent Flyer, Velocity Frequent Flyer, and Amex Membership Rewards schemes with various airline transfer partners. It features a low-rate card option alongside various choices tailored for business proprietors.
Benefits of getting an American Express credit card
American Express credit cards come with a host of benefits that set them apart from other credit card providers. Some of the key advantages include:
- Membership rewards: American Express offers a robust rewards program that allows cardholders to earn points on their everyday purchases. These points can be transferred to partner airline frequent flyer programs, shopping, dining, and more, providing added value to cardholders.
- Exclusive access: Card members enjoy access to a range of exclusive perks, such as lounge access at airports, travel insurance coverage, concierge services, and invitations to special events.
- Customer service: American Express is known for its excellent customer service, with dedicated support for card members available 24/7 to assist with any queries or issues.
Types of American Express credit cards
American Express offers different types of credit cards to cater to various needs and preferences. Some of the popular types of American Express credit cards include:
Rewards credit cards
American Express Membership Rewards credit cards allow you to earn points for every dollar spent on eligible purchases. These points can be redeemed for travel bookings, gift cards, frequent flyer point transfers, or shopping at places like David Jones, Myer, Webjet, or Helloworld. If you're new to Amex, some cards offer introductory bonus points of up to 350,000 points.
For those enrolled in various frequent flyer programs, Membership Rewards provides the flexibility to transfer points to partnered loyalty schemes such as Singapore Airlines KrisFlyer, Air New Zealand Airpoints, and Cathay Pacific Asia Miles. It's also among the few Australian credit card reward programs that offer point transfers to Emirates Skywards Miles and Qatar Airways Privilege Club.
Frequent flyer credit cards
If you're part of Qantas Frequent Flyer or Velocity Frequent Flyer, you can choose an Amex card that earns Qantas Points or Velocity Points for every dollar spent.
This range includes frequent flyer cards with no annual fee, as well as cards that come with extra features like complimentary travel insurance, flight or travel credit, and airline lounge passes—benefits that can help justify the cost of an annual fee.
Get more bang for you buck: If you're new to American Express, look out for introductory bonus offers that add extra value when you first sign up. In some cases, you could receive thousands of bonus rewards or frequent flyer points, making it quicker and easier to access the rewards you want.
No annual fee credit cards
There are a few Amex cards that offer no annual fee ever, including the Qantas American Express Discovery Card. Similar to other credit cards on the market, American Express cards with no annual fees typically earn fewer points per dollar spent or offer fewer perks than cards that charge an annual fee. However, these cards still provide access to benefits like Amex Offers, instalment plans, and, depending on the card, rewards.
Low rate credit cards
The American Express Low Rate Credit Card features competitive, low interest rates for purchases. It also comes with no annual fee and offers exclusive shopping deals, discounts, ticket offers, and more through Amex Experiences and Amex Offers.
Business and corporate credit cards
American Express offers cards for businesses and corporate and charge cards that give you access to useful features for managing business spending, tracking, and reporting—including additional cards for employees and integration with popular accounting software like MYOB. You can also earn Membership Rewards or frequent flyer points for every dollar spent, depending on the card you select.
How to earn rewards with American Express credit cards
Earning rewards with American Express credit cards is easy and straightforward. Cardholders can accumulate points using their cards for everyday expenses such as grocery shopping, dining out, online purchases, and more. American Express offers promotional offers allowing card members to earn bonus points on specific spending categories or eligible purchases, similar to other reward credit cards.
Tips for maximising American Express credit card rewards
To make the most of your American Express credit card rewards, consider the following tips:
- Take advantage of bonus points offers: Keep an eye out for special promotions that offer bonus points for specific purchases or spending thresholds. Conditions and limitations apply to limit the practice of "churning" points.
- Redeem points wisely: Consider the value of your points when redeeming them and look for opportunities to maximise their worth, such as transferring points to airline loyalty programs or using them for high-value redemptions such as Business or First Class flights.
- Relax with travel benefits: If your American Express card offers travel perks like lounge access or travel credits, be sure to take advantage of these benefits to enhance your travel experience and save money on trips.
Eligibility for an American Express credit card
Applying for an American Express credit card online takes about 10 minutes. Before starting your application, ensure you meet the eligibility requirements for the card you're interested in. While these can vary between cards, here are some common criteria:
- Citizenship or residency: You must be an Australian citizen, permanent resident, or hold a current long-term visa (12 months or more, excluding student visas).
- Good credit rating: A solid credit history is required.
- Minimum age: You need to be at least 18 years old.
- New card members: For cards offering bonus points or introductory deals, you must be a new American Express card member.
- Previous cardholders: You're typically eligible if you haven't held an Amex card in the past 18 months and don't currently hold one.
What to know before applying
To streamline your application process, have the following details and documents ready:
- Contact details: Full name, email address, phone number, and residential address.
- Identification: A valid form of ID, such as your driver's licence number.
- Current job: Information about your current employment, including your job title and employer’s contact details. If self-employed, provide your accountant's contact information.
- Savings: Details of any savings you have.
- Expenses: Information about ongoing expenses like rent or mortgage payments, weekly food budget, loan repayments, and any existing credit card debts.
Business details for business or corporate cards
- Business identification: Australian Business Number (ABN) or Australian Company Number (ACN).
- Financial information: Relevant financial details related to your business.
