Discover the Luxury of the American Express Platinum Credit Card
Today we’re diving into the world of premium plastic with a look at the American Express Platinum Credit Card.
This little beauty has been turning heads in the credit card game, so let’s see what all the fuss is about.
What’s the Go with the Amex Platinum Credit Card?
The American Express Platinum Credit Card is a high-end offering that sits a rung below the ultra-premium Platinum Charge Card.
It’s designed for Aussies who love a bit of luxury in their lives but aren’t quite ready to fork out for the top-tier card.
The Nitty-Gritty: Fees and Charges
Let’s address the elephant in the room straight away – this card comes with a hefty annual fee of $1,450.
That’s not pocket change, but before you start clutching your pearls, remember that premium cards often come with premium perks that can offset the cost.
The card also slugs you with a 3% foreign transaction fee, so it might not be your best mate when travelling overseas.
However, for domestic spending, it’s a solid choice with no pre-set spending limit, giving you the flexibility to splash out when needed.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
Rewards: What’s in it for Me?
The Amex Platinum Credit Card uses the Membership Rewards program, which is known for its flexibility. You’ll earn points on every dollar spent, with bonus points for certain categories:
- 2.25 points per $1 spent on eligible purchases
- 1 point per $1 spent on government bodies in Australia
These points never expire as long as you hold the card, which is a nice little bonus. You can redeem your points for travel, gift cards, or even statement credits.
Travel Perks: For the Jet-Setters
If you’re a frequent flyer, this card has some ripper benefits:
- Complimentary travel insurance: Covers you and your family for trips up to 90 days
- Airport lounge access: Enjoy over 1,200 lounges worldwide through the American Express Global Lounge Collection
- Hotel benefits: Get room upgrades, late check-out, and other perks at select hotels
Lifestyle Benefits: Living Large
The Platinum Credit Card isn’t just about travel – it’s got some bonza lifestyle perks too:
- Dining credit: Up to $300 in statement credits for eligible dining purchases
- Entertainment credit: Up to $300 in statement credits for eligible streaming services
- Equinox credit: Up to $300 in statement credits for Equinox gym memberships
Is it Worth the Dosh?
Now, here’s the million-dollar question – is the Amex Platinum Credit Card worth its salt? Well, it depends on your lifestyle and spending habits.
If you’re a frequent traveller who loves dining out and enjoys a bit of luxury, you could easily get value that exceeds the annual fee.
The travel insurance alone could save you a packet, and if you make use of the statement credits, you’re looking at over $900 in value right there.
However, if you’re more of a homebody who doesn’t spend much on travel or dining, you might find it hard to justify the cost. In that case, you might want to have a gander at some of Amex’s lower-tier cards.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
How Does it Stack Up?
Let’s compare the Amex Platinum Credit Card to some of its rivals:
- Chase Sapphire Reserve: This card offers similar travel perks but with a lower annual fee of $550. However, it’s not available in Australia, so it’s a moot point for us Aussies.
- Citi Prestige Card: Another premium option with a $495 annual fee. It offers strong travel benefits but doesn’t quite match up to the Amex Platinum in terms of lifestyle perks.
- Capital One Venture X: This card has been making waves with its $395 annual fee and generous travel credits. Again, though, it’s not available Down Under.
In the Australian market, the Amex Platinum Credit Card stands out for its combination of travel and lifestyle benefits.
While there are cheaper options available, few can match the sheer breadth of perks offered by this card.
Who Should Get This Card?
The ideal candidate for the Amex Platinum Credit Card is someone who:
- Travels frequently, both domestically and internationally
- Enjoys dining out and entertainment
- Has a high annual spend (to make the most of the rewards program)
- Values luxury experiences and exclusive access
- Can comfortably afford the annual fee
If that sounds like you, then this card could be right up your alley.
How to Apply
If you’re keen to get your mitts on this card, you’ll need to meet a few requirements:
- Be at least 18 years old
- Be an Australian citizen or permanent resident
- Have a good credit score
- Meet the minimum income requirement (which Amex doesn’t publicly disclose)
You can apply online through the American Express website. The process is usually pretty quick, and you might even get an instant decision.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
The Verdict
The American Express Platinum Credit Card is a premium product that offers a smorgasbord of benefits for those who can make the most of them.
Yes, the annual fee is steep, but if you’re a frequent traveller who enjoys the finer things in life, you could easily get your money’s worth.
That said, it’s not for everyone. If you’re not a big spender or don’t travel much, you might find better value in a card with a lower annual fee.
As always, it’s important to do your own sums and see if the benefits outweigh the costs for your personal situation.
Final Thoughts
Credit cards are a bit like shoes – what fits one person perfectly might give another blisters. The Amex Platinum Credit Card is a top-shelf offering that can provide excellent value for the right user.
But like any financial product, it’s crucial to consider your own needs and circumstances before signing on the dotted line.
Remember, the key to getting the most out of any credit card is using it responsibly.
Always pay your balance in full each month to avoid interest charges, and never spend more than you can afford just to earn rewards.
So there you have it, cobbers – a fair dinkum look at the American Express Platinum Credit Card.
Whether it’s the right card for you or not, one thing’s for sure – it’s a ripper of a product that’s sure to turn heads. Now, who’s for a barbie?