FEATURES SUMMARY

 

 

• Annual fee: Low annual fee
• Purchase rate: Low p.a. purchase rate
• Cash Advance rate: Low p.a. cash advance rate
• Balance Transfer rate: Low p.a. balance transfer rate
• Interest-free days: Up to 55 days
• Extras:
  • 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, 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.

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 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 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.

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Citibank has teamed up with Emirates airlines to bring you the Emirates Citi Platinum credit card, designed for those frequent flyers who are not so worried about how much they are spending and are looking to capitalize on their expenses.

This airline rewards credit card comes with an extremely high credit limit of $100,000*, plus all the expected insurance benefits (international travel, transit accident, purchase cover and extended warranty)* not to mention a personal concierge service*.

As an added bonus, this card has an excellent balance transfer rate.* which earns it the title of #1 credit card in the Balance Transfer category.

Whether your balance is around $1000, or closer to $10,000, this ongoing interest rate means the savings are there for the taking when you get your Emirates Citi Platinum credit card. But that’s not all.

It also has a bundle of other benefits that you probably wouldn’t expect.

For example, a chauffeur-driven ride to and from the airport each year (when flying with Emirates of course), a double lounge pass per year to any of Australia’s Emirates lounges. Or if you happen to be going to Dubai you’ll get free access to the airport’s Marhaba lounge.

You’ll also earn Skywards Miles (Emirates’ frequent flyer program) at a rate of 3 for every dollar spent on your Emirates Citi Platinum card.

Skyward Miles can be redeemed for international flights on Emirates airlines and it’s partners, as well as Virgin Blue domestic flights, selected hotels, car rentals and merchandise from the Emirates online rewards store – The Emirates High Street.

This does come at a relatively high price (which is unfortunately becoming pretty standard for Platinum credit cards). Citibank charge for cash advances and for purchases on the Emirates platinum card with an annual fee. However it is expected with such a low ongoing balance transfer rate and so many added benefits.

On the whole the Emirates Citi Platinum is a well rounded card with prices that come as no surprise considering the range of benefits available. So if you fly with Emirates regularly, are looking for a platinum card to match your credit card expenses, or most importantly are looking for a credit card that offers low interest rates on balance transfers then this is the airline credit card for you.

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FEATURES SUMMARY

 

 

• Annual fee: Low annual fee
• Purchase rate: Low p.a. purchase rate
• Cash Advance rate: Low p.a. cash advance rate
• Balance Transfer rate: Low p.a. balance transfer rate
• Interest-free days: Up to 55

• Extras:
  • Fraudshield
  • Extended warranty
  • Purchase protection
  • Phone/Internet banking
  • International Travel Insurance

The Citibank Clear Platinum credit card is one of a number of premium credit cards available from Citibank, but when you compare it to most others on the market it doesn’t really seem like a platinum card at all.

This odd choice of name from Citibank has potential to confuse customers. Platinum credit cards tend to be more costly than the Citibank Clear Platinum card, which means those in the market for a cheap credit card may overlook it without realizing just how affordable it is.

It is in fact a really good credit card. It takes out the #1 spot for platinum credit cards, #2 for cash back credit cards and #3 for interest free credit cards in the Editor’s Choice category.

The standard interest rate is low on purchases* and on balance transfers*. The one downfall that can be seen on this card is its cash advance and default balance transfer rate. At that rate you’d only want to use cash advances in a real emergency.

Other benefits of this credit card also include international travel insurance, purchase protection and extended warranties on all products purchased with the credit card. And who could forget the rewards. With over 40,000 rewards partners in over 30 countries around the world, your rewards will follow you anywhere you go.

The main requirement that Citibank has for this card is that you must earn $50,000 or more per year. With up to 55 days interest free*, it is an impressively cheap credit card (when you avoid getting out cash) with great travel and reward benefits that you are unlikely to get anywhere else at such an affordable rate.

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The Platinum credit card is the upper echelon of premium cards available from Citibank. It’s unique to other platinum cards as it has a range of rewards options including the Citi Miles program, the Citi Qantas program, Citi Take Flight cash back and other discounts and offers. So you’re spoilt for choice when it comes to getting rewards that suit your needs. Special Promotion 40,000 bonus reward points.

With a ‘through the roof’ credit limit of up to $100,000, Citibank is obviously predicting a lot of expensive purchases on this card. The risk of offering so much money is compensated for by Citibank with a interest rate for Cash Advances and for purchases, as well as an annual fee which is double that of the Gold card. And, as expected, it comes with a minimum income requirement of $50,000.

However, it does score brownie points for a balance transfer rate for the first 9 months of balances transferred.

The Citbank Platinum credit card also comes with up to 55 days interest free, a 24/7 concierge service, extended warranty on purchases, purchase protection insurance (up to $200,000), international travel insurance, transit accident insurance and a digital signature and photo card to protect you against credit fraud.

Like the Gold card (and unlike the Silver card) the Citibank Platinum card lives up to its name and you actually get what you pay for. But while not being ripped off is great, it’s not enough to make this card the best option by any means.

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FEATURES SUMMARY

 

 

 

• Annual fee: High annual fee
• Purchase rate: Low p.a. purchase rate
• Cash Advance rate: Low p.a. cash advance rate
• Interest-free days: Up to 55 days
• Extras:

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

Earn 20,000 bonus Qantas Frequent Flyer Points to help get to your destination sooner.
 * 20,000 bonus Qantas Frequent Flyer Points if you apply by 28th Feburary 2011. Offer available to only new applicants.

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, 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.

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Despite some of HSBC’s credit cards not really being that hard to top, it’s easy to see that HSBC really brings out the big guns with the Platinum credit card. With so many features in one card it’s hard to know where to start, so how about we just start with the basics?

The purchase rate on HSBC’s Platinum credit card. This is great for a premium card and is topped off with p.a. for any cash advances you get.

There are however a few downsides, but they don’t deter too much from the other benefits which says a lot for the card itself. For example, balance transfers are pretty average for the first six months, increasing after that six months is up. Nevertheless, if you are smart this balance transfer rate is manageable and acceptable considering all the other benefits on offer.

For starters, there are a number of special privileges just for Platinum card holders including back stage passes at concerts, 24/7 concierge service, reserved seating for theatre shows (not to mention free drinks on arrival), exclusive events, and travel experiences.

You’ll also get instant rewards thanks to HSBC’s home&Away privilege program, not to mention the Rewards Plus program where you earn one point for every dollar spent, and double and triple points at selected bonus partners.

Points can be redeemed at what is a pretty good redemption rate compared to some, with a $100 voucher (depending on where it is from) requiring around 16,000 points. Yes, we know it’s not the cheapest rate out there, but are a lot that are worse too!

The Platinum card also includes insurance benefits such as purchase protection (90 days from purchase), a guaranteed pricing scheme (so you can avoid getting ripped off), extended warranty insurance (12 months), transit accident insurance and the big one – international travel insurance when you buy a return ticket on your Platinum credit card.

All this comes at a reasonable price for the annual fee (which is more comparable to that of a gold credit card which is always a bonus!) and has a minimum income requirement of $75,000 attached. As usual there are terms and conditions which unfortunately can’t be accessed until you apply.

So if you feel like you probably won’t use the more valuable features like travel insurance etc, keep an eye out for cheaper cards that omit these features and cater more to your needs (such as the ANZ Rewards Visa Gold).

On the other hand, if these benefits are all of use to you then it is definitely a credit card worth getting thanks to its great value for money.

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It seems that Suncorp has tried a little harder to give potential customers what they want by offering the Clear Options Platinum credit card, but not hard enough.

There are of course the usual problems that have been encountered with Suncorp credit cards where terms and conditions are unable to be found, so again, it’s hard to compare. However it can be said that the annual fee and interest rate for  cash advances  and  for purchases are at the higher end of the scale for platinum credit cards.

What is strange with this card is that the credit limit, it’s dependent on a minimum income, and is only higher than that of the Gold card. Usually paying over $100 more than its subordinate card in annual fees would get you a higher credit limit than this.

All the standard international travel benefits are included (travel insurance, purchase protection and transit accident insurance), with the addition of the personal concierge service and extended warranty on products bought with your Clear Options Platinum credit card.

Interest sits for purchases and for cash advances and balance transfers are extremely affordable p.a. for 15 months. There is also up to 55 days on purchases, personalized rewards (how it is personalized is yet another Suncorp secret) and the option of earning Qantas frequent flyer points. These points can be earned at a rate of 1 point for every $1 spent which is an improvement on the gold card’s 2 points for every $3 spent.

The additions available on the Suncorp Clear Options Platinum credit card over the gold credit card are an improvement, but are just not enough to create a recommendation for this card over the rest of the platinum credit card market.

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A lot of platinum credit cards tend to fall short when it comes to their price increases being proportionate to their increases in value.

So when it came to reviewing the Westpac 55 Day Platinum credit card, we had to ask ourselves ‘is this interest free credit card going to be any different?’

And what’s our verdict? Well, it’s a mixed bag.

On one hand you have the annual fee. It’s at the cheaper end of the scale for all the platinum cards we have reviewed. This fee is waived in the first year and each year after if you spend more than $20,000. Then on the other hand the only additional benefits to this card and the 55 Day Gold credit card are the addition of a concierge service and rental vehicle excess insurance.

As with any platinum card the insurance values increase, but like we said, that’s a given. Travel insurance cover is increased to 6 months in length and up to $20,000 per person. Rental car excess insurance is added in at up to $5,500 if you pay for comprehensive insurance cover and use your 55 Day Platinum credit card.

Transport Accident Insurance is available up to $500,000 if you or one of you family members is seriously injured or killed while traveling. Purchase Protection also increases to four months and extended warranty doubles to 2 years.

As a platinum card, you will be able to access a Platinum Priority Service phone line which is open 24 hours a day. The thing is, how this phone line differs from the Priority Service phone line available for Gold cards is unclear.

On the whole the Westpac 55 Day Platinum credit card is ok, but it has potential to lose out to the Gold card because of its annual fee. If you are planning on spending a lot of money with this credit card (over $20,000) then it could be a good investment, but if not, then it would pay to shop around.

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Westpac’s Singapore Airlines Platinum credit card is the highest level of premium credit cards available under Westpac’s Singapore airlines frequent flyer rewards program.

Under this scheme you get all the associated travel benefits of a platinum credit card, however the values are much more substantial, at pretty much double the values of the Singapore Airline’s Gold credit card.

Overseas travel insurance is extended to 6 months and up to $500,000 in claims. Purchase protection insurance is for four months (rather than three on the gold card) and the extended warranty for purchases is for up to two years. An added feature that you don’t get on the gold card is the 24/7 personal concierge service.

At an annual fee, the price is also doubled, but you get what you pay for.

You’ll get two credit cards (American Express and Visa), on which there are differing ‘mile’ earning values. Until October 31st 2009 the American Express earns you 3 KrisFlyer miles for every dollar spent, and on the Visa, 1.5 miles for every dollar spent.

After this date these rates drop to 1.5 miles for every dollar spent on the American Express both in and outside of Australia, and 1 mile for every dollar spent in Australia, and 1.5 for every dollar spent outside of Australia on the Visa. As an added bonus, your first purchase on your credit card will get you 10,000 bonus KrisFlyer miles.

Just remember, while there’s no limit to the amount of miles you can earn they will expire after three years. However, generally if you have the Singapore Airlines Platinum card you will be doing a lot of flying anyway so expiring points should not be a problem.

Interest rates stay the same as the other Singapore Airlines travel cards with p.a. on purchases, p.a. for cash advances and p.a. for the first 6 months on balance transfers. The interest free period also remains the same at up to 45 days if you pay your monthly balance in full.

Overall the Westpac Singapore Airlines credit card is quite expensive seeing as it is a premium card. Though if you can afford it and it fits in line with your credit card spending habits then it would be good value thanks to the many benefits and rewards that come with it.

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FEATURES SUMMARY

• Annual fee: Low annual fee
• Purchase rate: Low p.a. purchase rate
• Cash Advance rate: Low p.a. cash advance rate
• Balance Transfer rate: Low p.a. balance transfer rate
• Interest-free days: Up to 44
  • Extras:
    • Price guarantee

• Extended Warranty
• Visa Entertainment
• VIP Lost Card Cover
• Purchase Protection
• Phone/Internet banking
• One free additional cardholder
• Platinum 24/7 Concierge Service
• Platinum International Travel Insurance

On the surface NAB’s Qantas Platinum credit card is a lot like its lesser alternative the NAB Qantas Gold card, however for pretty much double the cost ($290) in annual fees there must be something special about this card to give it that edge.

The basic features of this card are exactly the same as the Gold card, with p.a. being charged on both cash and purchases, and up to 44 days interest free on purchases if you pay your balance in full each month. While the interest free period is kind of low, the interest rate is impressive for a platinum credit card. Balance transfers are also offered at the same rate p.a. for six months (after which the interest rises to p.a.).

NAB Qantas Platinum card holders are still given two credit cards, but unlike the Gold, you don’t get the choice between a Visa or a MasterCard for your second credit card. Instead Platinum cardholders are just given an American Express and a Visa.

Next on the list are the travel and insurance benefits. The platinum card also offers all the same benefits as the Gold card, such as VIP lost card cover, international travel insurance (for six months as opposed to three on the Gold card), extended warranty and purchase protection insurance.

But that’s pretty much where the similarities end, with NAB stepping up to the plate with other additional insurance and travel benefits that make the overall benefits proportionate to the huge increase in annual fee.

NAB’s platinum concierge service means you’ll have your own on-call personal assistant for all your travel and entertainment booking needs. If you’re staying in an Australian hotel and you get burgled, you’ll be covered for up to $2,500 worth of damages or loss. Transport accident insurance also kicks in if you or your family are seriously injured or even killed while travelling.

You’ll also be covered if you have a domestic flight cancellation/change or your luggage is delayed or lost (which is more common than you may think!), and if you find a better price on items bought with your platinum credit card, NAB will pay you the difference so you can still get the best deal around.

The rewards system on the NAB Qantas Platinum credit card is another difference between the Gold and Platinum credit cards with a MUCH better earn rate on the latter. On the Platinum American Express you’ll get 1.5 points for every dollar spent, and on the Platinum Visa you’ll earn two points for every $3 spent.

The simplicity of this system (by comparison) means that you won’t have to think so much about how much of your credit limit you’ve spent and how many points you’ll be getting for your dollar.

On the whole, the NAB Qantas Platinum credit card is one that comes highly recommended from us. It is quite expensive but is in no way pretending to be something it isn’t. The benefits and features are all valuable additions, and if used to their full potential, could end up being really valuable platinum and frequent flyer credit card.

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