Best Platinum Credit Card* Deals for 2021 | Finder NZ

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Best Platinum Credit Card*

Compare platinum credit cards and enjoy premium features, such as higher credit limits, complimentary insurance and additional rewards.

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Platinum credit cards give you more benefits and perks than standard cards, making them a popular option for frequent travellers, big spenders and high-income earners. Use this guide to learn more about what features you can expect and compare the latest platinum credit card offers to find the right one for you.

American Express Platinum Edge Credit Card

American Express Platinum Edge Credit Card

19.95 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

American Express Platinum Edge Credit Card

The American Express Platinum Edge Credit Card offers a low interest rate on purchases. Earn 20,000 Membership Rewards bonus points when you apply online and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.

  • Annual fee: $149 p.a.
  • Purchase rate (p.a): 2.99% APR for 6 months (reverts to 19.95% APR) on purchases
  • Cash advance rate: 21.95% APR
  • Up to 55 days interest free
  • Minimum Income Requirement of $50,000 p.a.
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Platinum Credit Card Comparison

Name Product Purchase Rate Interest Free Period Annual fee
American Express Platinum Edge Credit Card
2.99% for 6 months (reverts to 19.95% p.a.)
Up to 55 days on purchases
Enjoy a low rate on purchases and earn 20,000 Membership Rewards Bonus Points if you apply, are approved and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.
American Express Platinum Card
Up to 44 days on purchases
Get the new metal Platinum Card, 100,000 Membership Rewards bonus points, up to $300 dining credit and $200 to spend on travel each year. Offer available to new customers only who apply by 31 May 2021, are approved, and spend at least $1,500 in the first 3 months. Exclusions, Ts&Cs apply.
American Express Airpoints Platinum Card
19.95% p.a.
Up to 55 days on purchases
Be rewarded with 400 bonus Airpoints Dollars when you apply online by 30 March 2021, are approved, and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members only. You will also earn 1 Airpoints Dollar for every $59 you spend on your card.
ASB Visa Platinum Rewards Credit Card
19.95% p.a.
Up to 55 days on purchases
Earn 1 True Rewards dollar for every $100 spent. True Rewards dollars can be redeemed at partner stores like BP, Farmers and Mitre 10.
BNZ Advantage Visa Platinum Credit Card
18.95% p.a.
Up to 55 days on purchases
1 Fly Buys point for each $15 you spend or $1 in Cash Rewards for each $90 of eligible spend.
$150 extra cash back with Advantage Visa Platinum when you spend $2,500 or 1000 Flybuys within the first three months after card activation. Ts&Cs apply.
ANZ Airpoints Visa Platinum Credit Card
19.95% p.a.
Up to 44 days on purchases
Earn 1 Airpoints Dollar for every $85 you spend. You'll also earn 1 Air New Zealand Status Point with every $250 spent.
Westpac Airpoints Business Mastercard
20.95% p.a.
Up to 44 days on purchases
Westpac hotpoints Platinum Mastercard
20.95% p.a.
Up to 55 days on purchases
Low rate of 5.95% for all balance transfers for the life of the balance.
Kiwibank Air New Zealand Airpoints Platinum Visa
20.95% p.a.
Up to 44 days on purchases

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What is a platinum credit card?

A platinum credit card comes with a higher credit limit, to suit those who spend greater amounts, plus extra perks, including complimentary insurance and concierge services. It’s a tier above gold cards and below black cards. Platinum cards often come with rewards programmes and you can usually expect to earn more points per $1. These cards also often have higher income requirements, more expensive annual fees and less competitive interest rates for purchases. That’s because these cards are best suited to cardholders who pay their balance in full each month and can take advantage of the rewards or extra features enough to justify the annual fee.

What are the pros and cons of a platinum credit card?

Weigh up the advantages and disadvantages of platinum credit cards, and consider your circumstances to help decide if this type of card is the right option for you.


  • Higher credit limit. Platinum cards are suited to big spenders who need more spending power when they pay with plastic. While not all platinum credit cards list the minimum credit limit available, it’s usually upwards of $5,000.
  • More rewards. If you get a platinum reward or Airpoints credit card, you could enjoy more points per $1 spent and higher points caps. Platinum credit cards may also give you more introductory bonus points compared to other cards.
  • Complimentary travel insurance. Many platinum credit cards offer complimentary travel insurance which you can use when you fly overseas or domestically. The cover varies between cards and insurance providers, so make sure you look at the full credit card insurance details if this is an extra you want to use.
  • Complimentary purchase insurance. A platinum credit card could offer you cover against theft, loss or damage of new items for up to 90 days or extended warranties for eligible purchases. Some even offer a guaranteed pricing scheme that refunds you the difference if you buy something then see it cheaper elsewhere.
  • Airport lounge access. Whether it’s membership to programmes such as Koru and Priority Pass, or complimentary single-use passes, a platinum credit card could help you enjoy the luxuries of a free airport lounge before you fly.
  • Concierge services. Most platinum credit cards give you access to a 24/7 concierge service you can use to help you with anything from booking dinner at a popular restaurant to getting tickets to a theatre show or buying gifts for loved ones.
  • Travel credits. If travel is on the cards, you could choose a platinum option that also offers a flight voucher or travel credit to help pay for it. For example, the American Express Platinum card offers a $200 travel credit every year that you can redeem against any single eligible travel booking of $200 or more (where applicable) made through Amex Travel.


  • Higher annual fees. Platinum credit card annual fees can run to several hundred dollars (or more) each year. For some people, this is a small price to pay for the bonuses they receive. For others, the benefits may not outweigh the cost.
  • Higher interest rates. Many platinum cards have interest rates at the higher end of the scale. If you find you regularly carry a credit card balance, you may be better off looking for a low rate card or even a balance transfer credit card instead.
  • Difficult eligibility requirements. Platinum credit cards typically require a good to excellent credit score and higher minimum income than basic credit cards.
  • Lower perks than black credit cards. Although platinum credit cards offer a number of benefits, you may find that they don’t boast as many extra features as black credit cards.

    Should I apply for a platinum credit card?

    This depends on several factors, including your budget and how you use your credit card. For example, if you regularly spend with a credit card and pay the balance in full by the due date on each statement, you’re likely to benefit from platinum features such as a higher credit limit and higher reward earn rate. If you travel regularly and will make use extras such as complimentary insurance, Airpoints and airport lounge access, these perks could help offset the cost of the card. As always, you should make sure to read the product disclosure statement of the card to fully understand the fees, interest rates, extra features and eligibility requirements of the card before you apply.

    On the other hand, if you struggle to pay more than the minimum on your card each month or rarely pay with plastic, the higher annual fees and interest rates of a platinum card may not be worth it. Instead, you can compare cards with low-interest rates or no annual fee to find an option that’s affordable for you.

    hand holding platinum card

    How can I choose the best platinum credit card? Factors to consider

    There is no single “best” platinum card on the market, with the different credit cards available. You can find a card that’s right for you by asking the following questions.

    • Do you have any existing credit card debt?

    If you’re struggling to pay off your existing credit card debt and only manage to pay slightly more than the minimum amount due, perhaps consider a platinum credit card with a balance transfer offer attached. You can use these cards to transfer outstanding balances from your old credit card account to a new card that offers 0% on balance transfers for a promotional period. This can help you cut down your interest costs while paying off your debt faster.

    • Do you travel frequently?

    If you travel regularly and use your credit card to pay for your travel costs, you should consider some of the travel-related perks that often come with platinum cards. These extra features can include Airpoints, airline lounge passes, travel credits and complimentary international travel insurance.

    • Do you buy electronic goods or high-ticket items regularly on your credit card?

    If you depend on your credit card to make large purchases, a platinum card with a high credit limit could come in handy. However, these cards do usually come with higher purchase rates so they’re best suited to cardholders who can afford to pay their purchases off in full before the end of the statement period. Plus, you can usually take advantage of interest-free days on future purchases when you pay your balance in full.

    • Are you a business owner?

    Upgrading to a platinum business credit card can be a smart move for some business owners. Most businesses tend to spend more than the average personal consumer, so having access to accelerated rewards earnings, complimentary business insurance policies and higher credit limits may be ideal. The most suitable card for you is the one that offers the perks and benefits that most relate to your income, lifestyle and financial habits. If you need a card for corporate expenses, you can also compare business credit cards for more options.

    If you want to take advantage of the perks available on a platinum credit card, make sure you also consider the card’s cost and any specific conditions you need to meet to enjoy these benefits. It’s also important to compare several platinum credit cards before you apply, so you can find the one that really works for you.

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