American Express Platinum Edge Credit Card Review

Receive 20,000 membership rewards bonus points, available to new Card Members only. A complimentary direct domestic return flight every year and save with a low introductory offer on purchases.

You can take advantage of a number of platinum benefits while managing your everyday expenses with the American Express Platinum Edge Card. As well as bonus points and rewards for eligible purchases, you’ll also receive complimentary insurances and save on costs with a low introductory offer on purchases for six months.

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2.99% for 6 months (reverts to 19.95% p.a.)

Purchase Rate

$149 p.a.

Annual Fee

$50,000

Minimum Income

Details

Product NameAmerican Express Platinum Edge Credit Card
Purchase rate (p.a.)2.99% for 6 months (reverts to 19.95% p.a.)
Annual Fee$149 p.a.
Interest Free PeriodUp to 55 days on purchases
Max credit limit$50,000
Minimum Monthly Repayment3% of transaction value or $10, whichever is greater
Minimum Income$50,000
Card TypeAmerican Express
Late Payment Fee$25
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Joint ApplicationNo

American Express Platinum Edge Credit Card Review

If you’re a regular credit card user, the American Express Platinum Edge Credit Card could help you both manage your finances and receive rewards for your everyday expenses. You get the opportunity to earn up to 20,000 bonus points, available to new Card Members only.

You can also earn up to 3 Rewards Points per $1 spent on eligible purchases.

On top of Rewards Points, you also benefit from a low promotional interest rate of 2.99% on purchases for the first 6 months. Plus, complimentary insurances, a complimentary direct domestic return flight every year, 24/7 global assistance and exclusive American Express benefits for Platinum cardholders, there are many ways to use the card to ensure the benefits outweigh the costs.

Benefits of the American Express Platinum Edge Credit Card

  • Bonus membership rewards. Make a purchase of at least $750 using your card, within the first three months of opening the account, and you can receive 20,000 Membership Rewards bonus points. This offer is available to new Card Members only.
  • Earn rewards as you spend. You can earn up to 3 points for every dollar you spend on eligible purchases.
    • Use your card at major supermarkets and you earn 3 points per dollar you spend. Major supermarkets include New World, Countdown, Countdown Online, Farro Fresh, FreshChoice, Nosh, PAK’n’SAVE and SuperValue. Plus, if you fill your tank using your credit card, you can earn 2 points per dollar you spend at major petrol stations including BP, Caltex, GAS, Gull, Mobil, Shell and Z. You will also earn 1 point for every dollar you spend on all other purchases.
    • Membership Rewards points can be redeemed for hundreds of items and services, including shopping vouchers, gift vouchers, entertainment, tickets, lifestyle rewards and events, and even travel-related rewards. You can also convert your points into airline reward programme points with Air New Zealand, Qantas, Malaysia Airlines, Cathay Pacific, Singapore Airlines and Velocity Frequent Flyers.
    • With points to get you started, that’s enough to redeem for $100 in travel agency vouchers right away! Of course, your points won’t ever expire as long as you keep an American Express account open, so you can continue to save for the rewards you really want. There’s also no limit to the number of points you can earn.
  • Enjoy a complimentary direct domestic return flight. Take advantage of a complimentary Air New Zealand direct domestic return flight each membership year, with the standard one-piece 23kg baggage allowance included. You have to book at least 14 days before departure and book up to 10 months in advance.
  • Low promotional purchase rate. You’ll be charged a low introductory purchase rate of 2.99% p.a. for the first 6 months. Your purchases collect the standard interest rate of 19.95% p.a. thereafter.
  • Annual fee. This card charges an annual fee of $149.
  • Complimentary insurance. As with many platinum cards, the Platinum Edge Credit Card offers complimentary domestic and international travel insurance for you and your family when you pay for your trip using your card:
    • Up to $2.5 million in cover for overseas medical emergencies
    • Up to $10,000 to cover travel cancellation
    • Up to $10,000 to cover your baggage, money and documentation
    • Up to $1 million to cover personal liability

You also get access to travel inconvenience insurance, which covers flight delays or delayed luggage.

  • Online fraud protection. The Platinum Edge Credit Card has online fraud protection, which won’t hold you accountable for unauthorised online charges provided you spend per the conditions of use.
  • Platinum priority service. If you’re experiencing an issue or have an enquiry, the global assistance team is available to you 24/7.
  • Online account. You can manage your American Express account with ease, thanks to your online account. Plus, you can set up SMS or email reminders to help you stay on top of your Membership Rewards account.

Features of the American Express Platinum Edge Credit Card

  • Cash advances. You are charged 21.95% p.a. on all cash advances. You’re also charged a $2 cash advance fee per transaction when using the card in New Zealand and $5 when using the card for cash advances overseas.
  • Minimum repayment. You are required to pay $10 or 3% of the closing balance, whichever is greater on or before the payment due date noted on your monthly statement.
  • Additional cards. You can request up to 4 supplementary cards for $0.
  • Late payment fee. You are charged a $25 fee if your minimum payment is not received on time.
  • Payment dishonour fee. If your payment is returned or rejected, you are charged a $25 fee.

How to apply for the American Express Platinum Edge Card

If you’re interested in the American Express Platinum Edge Credit Card, make sure you meet the following eligibility requirements:

Eligibility criteria

  • You must be older than 18 years of age when your application is submitted.
  • You must be a permanent New Zealand resident.
  • You must also have a good credit record, including no bad debt or defaulted payments.
  • You need to verify that you earn more than $50,000 before tax each year.
  • If you are self-employed and have been trading for 18 months (12 months if you are an existing American Express Credit cardholder), you are also eligible.

If you meet the criteria, you’re ready to take the next step. You need the following information on hand to complete the application:

Documents required

  • Financial information, including details of your existing cards.
  • Employment details.
  • Your accountant’s contact information (if you’re self-employed).
  • A copy of your New Zealand driver’s licence.
  • Personal information, which includes your current address details.
  • Email address, plus a mobile or landline number.

    Bottom line

    If you are looking for a credit card with both an introductory interest rate and a rewards offer to match, then the Amex Platinum Edge Credit Card could be a great choice. However, remember that after 6 months, the interest rate reverts to the standard purchase rate, so be sure to compare other credit cards on offer.

    If you’re certain you meet the above eligibility criteria requirements, you can proceed with the secured online application to get started.

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