Best Platinum Credit Card Deals for 2024

1 - 10 of 71

Name	Bonus points	Points per $ spent	Purchase rate p.a.	Annual fee
Qantas Premier Platinum Qantas Frequent Flyer	Bonus points 80,000	Points per $ spent 1	Purchase rate p.a. 20.99%	Annual fee $349 first year ($399 after)	Go to site More Info Compare	Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
Bankwest Breeze Platinum Mastercard	Bonus points N/A	Points per $ spent N/A	Purchase rate p.a. 12.99%	Annual fee $59	Go to site More Info Compare	Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
NAB Rewards Platinum Card NAB Rewards	Bonus points 100,000	Points per $ spent 1	Purchase rate p.a. 20.99%	Annual fee $45 first year ($195 after)	Go to site More Info Compare	Get up to 100,000 bonus NAB Rewards Points (worth $480 in eGift cards): 80,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months.
Qantas American Express Ultimate Card Qantas Frequent Flyer	Bonus points 50,000	Points per $ spent 1.25	Purchase rate p.a. 23.99%	Annual fee $450	Go to site More Info Compare	Get a yearly $450 Travel Credit and 50,000 bonus Qantas Points when you spend $3,000 on eligible purchases in the first 3 months.
Latitude 28° Global Platinum Mastercard - Rewards Offer Latitude Rewards	Bonus points N/A	Points per $ spent N/A	Purchase rate p.a. 27.99%	Annual fee $96	Go to site More Info Compare	Get $200 bonus Latitude Rewards when you spend $2,000 or more on eligible transactions every statement period in the first 3 months from approval. Offer ends 31 December 2024.
Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer Best Rated Brand Virgin Money Rewards	Bonus points N/A	Points per $ spent 1	Purchase rate p.a. 19.99%	Annual fee $149	Go to site More Info Compare	Save with a 0% balance transfer offer for 24 months (with a one-time 1% BT fee).
American Express Qantas Business Rewards Card Qantas Business Rewards	Bonus points 130,000	Points per $ spent 1.25	Purchase rate p.a. 0%	Annual fee $450	Go to site More Info Compare	(ABN holders w/ $75k revenue). Earn 130,000 bonus Qantas Points when you spend $3,000 in the first 2 months.
American Express Velocity Business Card Velocity Frequent Flyer	Bonus points 120,000	Points per $ spent 1	Purchase rate p.a. 0%	Annual fee $249	Go to site More Info Compare	ABN holders w/ $75,000 revenue. Get 120,000 bonus Velocity Points when you spend $3,000 in the first 2 months.
American Express Explorer Credit Card Membership Rewards	Bonus points 50,000	Points per $ spent 2	Purchase rate p.a. 23.99%	Annual fee $395	Go to site More Info Compare	Get 50,000 Membership Rewards Bonus Points and spend $4,000 on eligible purchases in the first 3 months.
American Express Platinum Business Card Finder Award Membership Rewards Ascent Premium	Bonus points 250,000	Points per $ spent 2.25	Purchase rate p.a. 0%	Annual fee $875 first year ($1,750 after)	Go to site More Info Compare	ABN holders w/ $75,000 revenue. Get 250,000 Membership Rewards Bonus Points when you spend $12,000 on eligible purchases in the first 3 months. Plus, a first-year annual fee discount.

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Platinum credit cards typically offer higher credit limits and additional perks like airport lounge passes and concierge services.Some platinum cards offer rewards programs with earn rates of up to 2.5 points per $1 spent, plus introductory offers like 0% p.a. on balance transfers for the first 6 to 26 months
Be mindful that platinum credit cards tend to come with higher annual fees ranging from $59 to $1,750.

What is a platinum credit card?

A platinum credit card is a step up from standard and gold cards, and typically offers you more premium perks including rewards, complimentary insurance, concierge services and higher credit limits.

Platinum cards also tend to have higher minimum income requirements and annual fees compared to less premium cards. This makes them suited to people who can use the rewards or perks to justify the annual fee, and who typically pay their balance off each month to avoid interest charges.

Pros and cons of a platinum credit card

Pros

More rewards. Platinum credit cards typically give you more points per $1 spent, higher points caps and bigger bonus points offers than standard or gold cards.
Higher credit limits. Minimum credit limits on platinum cards typically start around $3,000 and maximum limits can be around $75,000 or more. But not all cards list minimum and maximum limits.
Complimentary insurance. A lot of platinum credit cards offer complimentary travel insurance for overseas or interstate trips, as well as different types of insurance for purchases.
Other perks. Airport lounge access, flight or travel credit and concierge services are some of the other benefits you can get with a platinum credit card.

Cons

Higher annual fees. Platinum credit card annual fees typically range from around $59 to $1,750, although some cards do offer reduced and $0 annual fees in the first year or ongoing.
Interest rates. Platinum cards that offer rewards and other premium perks typically have higher interest rates than no frills cards. Platinum cards with lower rates typically offer fewer perks or rewards.
Stricter eligibility requirements. You'll need a good to excellent credit score to get approved for a platinum credit card. Income requirements are also typically higher than for gold or standard cards.

Who is eligible for a platinum credit card?

Platinum cards used to be very exclusive but with so many credit cards on the market now, the eligibility criteria varies. Key details to look at include:

Minimum income. Platinum card income requirements in Australia start from around $35,000 and can go up to $100,000 for more exclusive cards. Even if a card doesn't list a minimum income requirement, it will be considered as part of the application.
Employment. You typically need to have regular income and ongoing employment to get a platinum card.
Credit history. Platinum cards typically require a higher credit score than more basic credit cards. Ideally, you shouldn't have any late payments, defaults or other black marks on your credit report.
Other requirements. To get any credit card, you'll need to be at least 18 years of age. Each credit card also has details of Australian residency requirements, which can affect your eligibility if you're a temporary resident or hold a visa.

How can I choose the best platinum credit card?

With so many different credit cards available, there is not a single "best" platinum card on the market. But asking these 4 questions can help you find one you want.

Do you travel frequently?

If you want to use your credit card for travel bookings and rewards, a platinum card that offers frequent flyer points and perks like airline lounge passes, travel credits and complimentary international travel insurance gives you a way to get more value from the account.

Tip: When you're comparing cards, weigh the annual fee against the value you'll get from points and perks to help you find a platinum card that's worth it for you.

Do you want to buy big-ticket items with your credit card?

Finder research shows 21% of Australians got their most recent credit card to make big purchases. When that's the case, a platinum card could offer you a higher credit limit than a regular card, as well as complimentary purchase protection insurance, extended warranty cover, best price guarantees or even smartphone cover to give you extra peace of mind.

Do you have existing credit card debts?

If you're already paying interest on a credit card balance, a platinum credit card with a balance transfer offer gives you a way to transfer it and get a low or 0% interest rate for a promotional period.

Just keep in mind that you'll usually get more value if you focus on repaying the balance before using any other platinum perks. But if you want to switch to a platinum card anyway, one with a balance transfer could give you a way to save as you pay off what you owe – then make the most of the ongoing perks.

Are you a business owner?

A platinum business credit card gives you a way to manage cash flow with higher credit limit options, earn more rewards points and get access to complimentary business insurance policies

These cards also offer expenses-tracking tools and additional cards for employees, just like other business and corporate credit cards.

Keep in mind: If you want the perks of a platinum credit card, make sure you also consider the costs of the card and any specific conditions you need to meet to enjoy these benefits. It's also important to compare a range of platinum credit cards before you apply so that you can find the one that works for you.

Finder Awards winner and finalists for 2024

Still looking for a platinum credit card? Check out these ones recognised in the Finder Credit Card Awards 2024, based on 12 months of data for every personal and business credit card in Finder's database.

The Bankwest Zero Platinum won the 2024 Finder Award for Travel Credit Cards, with no foreign transaction fees, no annual fee, comprehensive overseas travel insurance and a competitive interest rate. It has been the top rated card every year Finder has included this category in our awards program.

The American Express Platinum Business Card won the 2024 Finder Award for Business Charge Cards, scoring highly for its bonus point offers and earn rate. This high-end card also offers international and domestic travel insurance and unlimited airport lounge passes.

Highly commended Frequent Flyer Credit Card - Qantas

The Qantas Premier Platinum was highly commended in our award for Qantas Frequent Flyer Credit Cards. It scored highly for bonus Qantas Points offers and points per $1 spent. Other perks include Qantas Club lounge invitations, travel insurance and a Qantas companion flight offer.

Finalist Frequent Flyer Credit Card - Velocity

The American Express Velocity Platinum Credit Card has the highest Velocity Points earn rate in Australia (1.25 points per $1 spent). It scored highly for its bonus point offers, complimentary annual domestic flight and up to 4 airport lounge passes per year.

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Frequently asked questions

Black cards are typically seen as more premium accounts than platinum cards but there are some exceptions. For example, the American Express Platinum Card offers a huge range of benefits that are on par with many black cards – including a yearly $450 Platinum Travel Credit, airport lounge access, premium hotel perks, dining credit and insurance covers.
If you're looking for a particular perk, you can compare gold, platinum and black cards side-by-side to find one that offers the features you want.
If you regularly spend with a credit card and pay it off as you go (or by the due date on each statement), you could get extra value from platinum features. And if you travel regularly and will make use of extras such as complimentary insurance, frequent flyer points and airport lounge access, these perks could help offset the cost of the card.
But if you don't usually pay off your card's balance each month or rarely use it, paying a higher annual fee and interest charges for platinum features may not be worth it. Instead, you could compare cards with low interest rates or no annual fee to find one that's affordable for you.

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Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

Credit cards
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