The Platinum card by American Express gives cardholders a full range of perks from generous rewards to concierge services to extensive insurance covers. You also get complimentary insurance and VIP customer services, just to make your like simpler and easier.

Benefit of the Card’s Best Features?

This card really lives up to the platinum standard with a full range of cardholder benefits including: an extensive rewards program, purchase and travel covers, discounts and upgrades, and VIP treatment.

The most beneficial feature of the card for you will most likely be the rewards program. With the Platinum card you can earn points at the rate of 1.5 points per dollar up to $200,000 per year, after which you’ll earn 1 point per $1. There are no limits to how many points you can earn and they won’t expire as long as your account remains in good standing. The card currently has a special promo of 75,000 bonus points if you spend $500 in the first 2 months of membership – enough for a round-trip ticket to Singapore from Sydney! You can redeem points for a variety of options in the Ascent program including merchandise, hotels, and airline miles. You can even use points to pay off your balance!

For frequent travellers, you will benefit from a wide range of perks. Cardholders can instantly get discounts on certain flights or even free companion tickets. At many airports, you will get access to VIP lounges with the Priority Pass and every year, you can claim up to $200 reimbursement for airline fees. At participating hotels, expect free upgrades at check in as well as priority treatment like late check-out times.

For those who enjoy the finer things in life, this card gives cardholders access to invitation-only events and reservations at popular restaurants. Furthermore, the personal concierge service can help get reservations to in-demand events and locations.

The $900 p.a. annual fee of the Platinum card pays for itself if you travel just a couple times a year. You will get coverage for unlimited overseas medical emergency expenses, travel inconveniences and transport accidents on public transport. With the purchase protection, you will be covered in event of theft or damage. Select items can have their warranties extended up to 12 months if bought with your American Express Platinum card.

Are There Any Drawbacks?

The $900 p.a. annual fee for the Platinum card may be steep for some and unless you travel frequently, then it may not be worth the price. Additional cardholders cost $175 p.a. each – other platinum cards frequently offer additional cards for free. The rewards program is free. However, you may have to pay for the frequent flyer program of the airline where you’d like to redeem points.

It’s well known that American Express isn’t as widely accepted as Visa or MasterCard, and there are also higher fees associated with using an Amex card which can further negates the value of any points earned.

Who is it Suited for?

The Amex Platinum card is ideal for high earners who enjoy travelling in luxury and a high-end lifestyle.

Who is Eligible?

To be eligible for this card, you must be at least 18 years of age, a citizen or permanent resident of Australia, have a very good credit rating with no defaulted payments, and an income of at least $100,000. If you are self employed, then you must have been trading for a minimum of 18 months (or 12 months if you already have a card with American Express).