American Express Platinum Edge Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt Ask Pauline a Question about this card.

Allowing cardholders to earn more points on spending at supermarkets and petrol stations, the American Express Platinum Edge Credit Card is an awesome everyday earner. Cardholders have a huge range of redemption options through the Membership Rewards Ascent program and receive a $200 Travel Credit to use each year on flights, accommodation, and car hire booked online through American Express Travel. Other handy features include complimentary insurance.

This card does not only provide platinum benefits over the long term, it also currently has an enticing introductory offer. You will enjoy 50,000 Bonus Membership Rewards Points when you apply online by 1 February 2022, are approved and spend $1,500 within the first 3 months. Plus, receive a $200 credit when you spend $200 or more at David Jones, in-store or online, on your new card within the first 3 months. Exclusions apply.

• Receive $200 Travel Credit each year
• Earn 3 Membership Rewards points per dollar spent at major supermarkets and petrol stations
• Earn 2 Membership Rewards points per dollar on purchases in a foreign currency when overseas and online
• Earn 1 Membership Rewards point per dollar spent on all other purchases including utilities, insurance, telecommunications, and government purchases.
• Earn additional 3 points per $1 (up to 40,000 points) on top of the standard earn rate with Shop Small until 31 March 2022
• No points cap or points tiering
• Extensive redemption options on the Membership Rewards Ascent program
• Complimentary insurance covering travel and retail purchases
• Add up to 4 Cards at no extra cost
• Plan It™ Instalments offers you a flexible way to pay off your Credit Card balance in equal monthly installments, with 0% p.a. interest and a fixed monthly fee/li>

• Purchase Rate: 20.74% p.a. (variable)
• Interest Free Period: Up to 55 days

This Card: The Lowdown

An enticing option for anyone looking to earn more on their everyday spending, the American Express Platinum Edge Credit Card boosts points-earning power on purchases made at supermarkets and petrol stations, while still offering an appealing base earn rate for spending everywhere else.

Earning points on one of Australia’s most flexible rewards programs – the Membership Rewards Ascent program – this card could be the perfect option for cardholders looking to transfer points to a range of 9 airline partners, including Singapore Airlines KrisFlyer, and Cathay Pacific Asia Miles.

With this card's bonus points and cashback offer plus the $200 Travel Credit to use each year as well as its everyday value in rewards, the American Express Platinum Edge Credit Card is a card that you’ll be happy with to keep in your wallet year after year.

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the American Express Platinum Edge Credit Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

While it may not count Qantas Frequent Flyer within its many airline partner programs, the American Express Platinum Edge Credit Card does allow cardholders to earn points on the American Express Membership Rewards program, which happens to be one of the most versatile and flexible points programs in Australia.

Currently, it presents 50,000 Bonus Membership Rewards Points when you apply online by 1 February 2022, are approved, and spend $1,500 within the first three months. This is available to new applications only. The bonus points will be credited to your account after the minimum spend requirement is reached.

Everyday Earning

In terms of everyday earning, this is one of the best points-earning cards out there for regular credit card users. Not only does it provide the potential to earn triple points on that ever-so-essential supermarket shopping, but it also has no points cap or points shaping. That means you will continue to earn the same rate, no matter how much you spend on your card.

• Earn 3 Membership Rewards points per dollar spent at major supermarkets and petrol stations
• Earn 2 Membership Rewards points per dollar on overseas spend
• Earn 1 Membership Rewards point per dollar spent on all other purchases including utilities, insurance, telecommunications, and government purchases.

Major supermarkets include Bi-Lo, Coles, Harris Farm Markets, IGA and Woolworths. Major petrol stations include Ampol, BP, Caltex Woolworths, Metro, Shell, Woolworths Petrol and 7 Eleven.

You can boost your points with the Shop Small offer, allowing you to earn up to 40,000 extra points (3 points per $1) every time you shop at participating small businesses. More information on how you can snag even more rewards with Shop Small can be found here.

One other thing that’s worth mentioning here is the fact that this card allows up to four additional cardholders for no extra fee. Bearing in mind that there is no points cap in place, you could have five cardholders spending on one account, all racking up points on their everyday spending.

Point Redemption Options

When it comes time to redeem those points, you have plenty of options to choose from. You could choose to redeem your points for gift cards or credit your account to cover certain transactions. You could turn your points into an experience by booking with Ticketmaster or connect to a world of special benefits with Amex Connect.

Alternatively, you could use your points for travel. Earning points on the Ascent program allows cardholders to redeem points for flights with any of American Express’s 9 leading airline partner programs, mostly at a ratio of 2:1.

These partners include Virgin Australia Velocity Frequent Flyer, Emirates Skywards, Etihad Guest, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, Air New Zealand Airpoints, THAI Royal Orchid Plus, Malaysia Airlines Enrich and Cathay Pacific Asia Miles.

Cardholders can also opt to use their points when booking travel with American Express Travel Online, with no restrictions, no block-out dates, and no booking fees (t’s & c’s apply). Booking with Webjet or Helloworld Travel provides alternative ways to use points to book travel, or cardholders may choose to redeem their points with the card’s hotel partners, which includes Hilton Honors.

This Card: As a Travel Rewards Card

Whether traveling on business or for pleasure, cardholders can take advantage of several travel-related benefits with the American Express Platinum Edge Credit Card in their wallet.

Travel Credit

While American Express used to offer cardholders a free flight each year with the Platinum Edge, now cardholders have the opportunity to choose their travel with a $200 Travel Credit. Provided each year after you pay your annual fee, this $200 Travel Credit can be used towards flights, hotels, experiences or car hire booked online at American Express Travel.

To be eligible for the Travel Credit, cardholders must have paid their annual fee and minimum payment. Each Travel Credit is only valid for one year and cannot be carried forward. It can only be used in a single eligible travel booking and is not refundable if travel is cancelled. Bookings less than $200 will forfeit the remainder of the Travel Credit, so it’s best to save it for larger bookings.

Insurance Cover

A standard feature on most platinum cards these days, the American Express Platinum Edge Credit Card offers cardholders a range of travel-related insurance covers. To be eligible for cover, you must use your card to pay for your trip in full. Providing cover for you, your spouse and children under 22 travelling with you, these covers include:

• Overseas Medical Emergency Expenses Cover (providing up to $2,500,000 towards medical treatment)
• Personal Liability Cover (up to $1,000,000)
• Baggage, Money and Documentation Cover (providing up to $10,000 to cover loss or damage to baggage, money or documents)
• Travel Cancellation Cover (providing up to $10,000 in the event your travel is cancelled for specific reasons)
• Travel Inconvenience Cover (which may cover you for flight delays, missed connections or luggage delays)

This Card: Extras on Offer

Quite often, American Express cards are sold on their extras. Offering cardholders a nice selection of useful extras, the American Express Platinum Edge Credit Card goes big on service, support and functional features.

David Jones Credit

Aside from the bonus points offered to new cardholders, this card also highlights a $200 credit on your card when you spend $200 or more at David Jones, instore or online, within the first three months. This is a rare offer from Amex especially with non-David Jones cards. This is limited to one credit per card account. Purchases by both primary and additional cardholders are accumulated, thus reaching the minimum spend criteria of $200 or more is a piece of cake. Exclusions applied on the eligible stores.

Amex Offers

Allowing cardholders to save money when using their card at a variety of retailers, Amex Offers provides immediate statement credits when they hit a certain target amount with specific retailers. With offers saved to your card account online, it’s a good idea to keep an eye on these in order to take advantage of offers at your favourite retailers.

Service and Support

Well-known for its excellent customer service, American Express supports cardholders by offering cover on their retail purchases, backed by 24/7 Global Card Support.

• Online Fraud Protection Guarantee means you will not be held liable for any unauthorised charges.
• Buyer’s Advantage allows you to extend the manufacturer’s warranty by up to 12 months on items purchased on the card. You’re covered for up to $10,000 per year and $10,000 per claim, with no excess.
• Purchase Protection offers to replace an item purchased on the card, should it be broken or stolen within 90 days. You’re covered for up to $20,000 per year and $2,500 per claim, with a $50 excess per claim.
• Refund Protection will reimburse you if you have a change of heart and are refused a refund on an unused purchased item within 90 days. You’re covered for up to $2,000 per year and $500 per claim, with no excess.
• Global Card Support provides account assistance to cardholders no matter where they are in the world, any time of the day or night.
• Compatible with Apple Pay, Samsung Pay, and Google Pay, the card can be a great option for tech lovers.

Interest Free Period

With its relatively high purchase rate, it’s safe to say the American Express Platinum Edge Credit Card is not a low-rate credit card. But, it does provide ways in which cardholders can save on interest. Getting to know how the card’s interest-free period works could allow you up to 55 days interest-free on purchases, helping you to save on interest month-to-month.

However, it is worth noting that the number of interest-free days you benefit from will depend on the date of the purchase, and how far through the statement period it is made. To be eligible, you must also pay the closing balance each month by the due date. There is no interest-free period on balance transfers or balances carried forward.

This Card: The Essentials

Time to look at what’s required of you if you want to apply for the American Express Platinum Edge Credit Card. In terms of eligibility, you must be at least 18 years old, with an annual income of $50,000 or more, and no history of bad debt or payment default. You must also be an Australian citizen or permanent resident, or hold a long-term visa. Long term means at least 12 months and does not include student visas.

As we mentioned, this card has a relatively high purchase rate, so if you want the card – and all its features and rewards – to offer value, it’s best to clear the balance by the due date each month. While the standard annual fee is substantial, you do receive a $200 Travel Credit each year, which more than covers the $195 annual fee. As long as you want to spend that $200 on travel, you’re then benefitting from the rest of the card’s features and rewards ‘for free’.

Decision Time

Providing cardholders with an outstanding earn rate on their everyday spending at supermarkets and petrol stations, the American Express Platinum Edge Credit Card is an excellent choice for long-term rewards earning. With a $200 Travel Credit on offer each year, this helps to balance out the card’s standard annual fee, creating additional value on the rest of the features and extras on offer. You’ll also be able to earn some extra points with Shop Small.