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.

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.

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

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.

See our top credit card picks in the Editors Choice category