FEATURES SUMMARY

• Annual fee: $250/$280
• Purchase rate:
• Cash Advance rate:
• Balance Transfer rate: 5.99% p.a. first 5 months (21.49% p.a.)
• Interest-free days: Up to 55 days
• Extras:
  • Apply online
  • Cash back

• Airfare Deals
• Extended Warranty
• Purchase Security
• MasterCard Moments
• MasterCard Applause
• Transit Accident Insurance
• Platinum 24/7 Concierge Service

For a platinum credit card this one from Commonwealth is pretty standard in most areas, but it does have a wide range of features in order to cater well for a wider range of people.

It comes with all the same benefits as the gold card but with longer time periods and greater values (International travel insurance for trips up to 12 months, extended warranty for up to a year longer than the manufacturer’s warranty, purchase security for up to 90 days and transit accident insurance), plus a few other features just to set it apart.

The card’s annual fee is $280, but if you happen to be applying for (or already have) a Commonwealth Bank home loan or bank account then the annual fee of your credit card will be waived. Or, if you are an existing Commonwealth credit card customer then (depending on which credit card you have) your annual fee will be either waived or reduced (to $250).

Bank account or home loan – Annual fee is waived
Awards Card – Annual fee is reduced
Gold Card – Annual fee is reduced
Platinum Card – Annual fee is reduced
Low Rate – Annual fee is reduced
Low Rate Gold – Annual fee is reduced
Low Fee – Waived when you spend $1000 or more per year on your credit card
Low Fee Gold – Waived when you spend $10,000 or more per year on your credit card

This includes a 24/7 platinum concierge service*, a comprehensive annual summary* (which will help at tax time) and a guaranteed pricing scheme*, so if you a find a product you’ve bought for a cheaper price (in print) than what you paid, Commonwealth will pay you the difference.

And now for the Awards program – with every dollar you spend on your Commonwealth platinum card you’ll get one Awards point. You can also get extra points by using the Commonwealth Travel Plus service, or by shopping at selected Bonus Partners.

These points can be redeemed for all sorts of goodies including cash back (which is credited back to your account), entertainment, shopping, merchandise and also travel. You can choose to have your awards points converted to frequent flyer points for your choice of Virgin Blue or Qantas airlines (you must be a member of your airline of choice’s frequent flyer program). Also, if you happen to be flying business or first class on a flight you’ve bought with your platinum credit card with Air Tahiti Nui, Japan Airlines or Air Pacific you’ll be eligible for companion airfare deals.

While this is probably a good deal, we thought there might be some kind of other benefit to really set it apart from the Gold and standard credit cards (not to mention other platinum rewards credit cards). But for an annual fee of $200 we still think it’s a really good deal, which is why it takes out the #3 spot in the Platinum credit card category and #2 in the Frequent Flyer credit card category. Adding to this cards prestige (in our eyes) is the fact that we also named it the #3 place getter in the Editor’s Choice – Rewards Credit Cards category.

The interest rate offered is more reasonable on the platinum credit card than on its lower value counterparts with the same rate, at * on purchases and p.a.* on cash advances, along with up to 55 days interest free*. If you have a credit card balance that you need to transfer to a lower interest rate then you can transfer it onto this card for just 5.99% p.a.* for the first 5 months. After this time any balance remaining from your transfer will be charged * interest.

But to sum up, the Commonwealth Platinum credit card definitely holds its own in the platinum credit card market with its variety of features and it’s standard pricing. It would be ideal for those who fly regularly with Virgin or Qantas and plan on using their rewards credit card regularly for retail payments each month.

See all our top picks in the Editors Choice category

FEATURES SUMMARY

• Annual fee: $295
• Purchase rate: 19.49% p.a.
• Cash Advance rate: 20.74% pa.
• Balance Transfer rate:
• Interest-free days: Up to 55 days
• Extras:
  • Apply online

• • Concierge Service
  • Extended Warranty
  • Phone/Internet banking
  • Overseas Medical Insurance
  • Up to 9 additional cardholders
  • American Express/Visa Entertainment benefits

The ANZ Frequent Flyer Platinum credit card is the top dog of the ANZ Frequent Flyer cards, so as well as being the #1 credit card in the Frequent Flyer category, it also takes out the #2 spot in the platinum credit card category.

Being the next step up from the Gold Frequent Flyer card, it has a number of benefits that are exclusive to Platinum credit card holders and are very beneficial for a regular traveler.

The core features of this airline rewards credit card remain the same as the other frequent flyer cards offered by ANZ (interest, balance transfer, interest free period). However the inclusion of travel insurance benefits makes this card much more valuable than the rest.

With this card you will receive extended warranty on purchases*, 90-day purchase security on lost/stolen/broken products*, not to mention overseas medical insurance*. Safety measures such as these can often be expensive and a major hassle to organize, so if you do fly regularly then the inclusion of these features is very convenient.

Using your Platinum American Express credit card will earn you 1.5 points for every dollar spent (up to $2500 a month), and like the lower level frequent flyer cards, 1 point for every $2 spent on the Frequent Flyer Platinum Visa. ANZ Frequent Flyer Platinum cardholders also benefit from the concierge booking service*, which adds another level of convenience to your international travels.

The annual fee for this card burns a hole in your pocket at $295 a year, so if it is mainly frequent flyer points you’re looking for then we recommend the ANZ Frequent Flyer Gold credit card as this offers the same rewards benefits with a much cheaper annual fee. Otherwise, the ANZ Frequent Flyer credit card comes very highly recommended.

See all our top credit card picks in the Editor’s Choice category

FEATURES SUMMARY

• Annual fee: $195
• Purchase rate: 19.49% p.a.
• Cash Advance rate: 20.74% p.a.
• Balance Transfer rate:
• Interest-free days: Up to 55 days
• Extras:
  • Apply online

• Phone/Internet banking
• Purchase Security Insurance
• Commission-free travellers cheques
• Worldwide emergency credit card replacement
• American Express/Visa Entertainment benefits

Like the standard ANZ Frequent Flyer card, the ANZ Frequent Flyer Gold credit card gives you two choices of cards to use when making purchases, and therefore more opportunities to build up your Qantas frequent flyer points.

The majority of the features of this card are the same as the standard ANZ Frequent Flyer credit card, such as the interest rate and interest free days. But according to the ANZ website you ‘go further with the Frequent Flyer Gold’ card.

What exactly does this mean?

Well it starts with paying a bit more in your annual fee – $195 as opposed to $95 on the standard frequent flyer card. After reading the fine print, it was found that the fee for joining the Qantas Frequent Flyer program is not actually included in the card’s annual fee.

So in order to take advantage of this card’s benefits, you would have to join the program yourself and pay the $82.50 program fee on top of your card’s annual fee. This would bring your fee for the first year to a grand total of $277.50. The good news is that this Qantas fee is a once off payment rather than an annual fee.

Another shortcoming of this travel credit is the difference in points-earning potential between the standard and gold frequent flyer credit cards is marginal. The gold credit card offers just 1.25 points for every dollar spent on the American Express card, and is the same as the standard card’s points rate on the Visa ($2 = 1 point)*.

These points are capped at 10,000 points per month which is 5,000 more than the standard card, so it is quite obvious that this card is aimed at those who will be spending quite a bit more than those with the standard card and will of course be able to reap the benefits.

This credit card takes out the #2 spot in the Frequent Flyer credit cards category, so if you’re already a member of the Qantas Frequent Flyers program or plan on doing a fair bit of travelling over the next few years, then this card will be highly beneficial for you. Otherwise, it would be wise to cover all your bases to make sure you’re getting the best airline rewards credit card on offer.

See all our top credit card picks in the Editor’s Choice category