What features should I compare when looking at gold, platinum or black cards?

Whether you are looking at a standard credit card or a more premium gold, platinum or black card, it's important to compare the different features based on your situation and goals. Some of key features to look at when comparing premium cards include: Bonus point offers. Introductory bonus point offers may differ between gold, platinum and black cards, with black cards typically offering the highest amount of bonus points when you sign up. Complimentary extras. Complimentary extras may include travel and purchase insurances, concierge services and other travel perks like airport lounge access or travel credit. When comparing black, platinum and gold credit cards, make sure you consider how many of the perks you will use, as this can help you decide if the cost of the account is worth it for you. Reward points per $1. Black cardholders usually earn the most rewards points per $1 spent, followed by platinum and then gold cardholders. As an example, a standard rewards card could offer 0.5 points per $1, with the gold version offering 1 point per $1, the platinum 1.5 points per $1 and the black card 2 points per $1 spent. Reward point caps. If a reward credit card limits the amount of points you can earn per statement or year, the amount you can earn will increase with each level of card. This means a standard card would have the lowest points cap, followed by a gold card, then a platinum card and lastly a black card – giving the black card the highest point-earning potential. Annual fees. When you're comparing cards from the same issuer, standard cards will have the lowest annual fees, followed by gold, then platinum and then black. Ideally, the value you get from the card's perks should balance out this cost. Minimum income requirements. As a general guide, the more premium the card is, the higher the minimum income requirement. This means you will need to earn a higher income for black cards (and some platinum cards) compared to gold or standard cards.

Are platinum and black credit cards only for people who earn a high income?

Typically, yes. You'll need to earn a relatively high income to be eligible for a platinum or black credit card. Depending on the card, they can have minimum income requirements of between $30,000 – $70,000, although it can be even higher for the very top-tier cards.

When will I know if I’m approved for a platinum, gold or black credit card?

When you apply for the credit card, most issuers will let you know if your application has been approved or rejected within a minute. If you receive a pending response, this means the bank needs to spend more time assessing your application. In this case, you can usually expect a response within a week.

Can I avoid my credit card's monthly frequent flyer points cap?

While some gold and platinum credit cards do have point caps, they tend to be higher than the caps on standard credit cards. Most black credit cards, on the other hand, offer uncapped points.

Compare Platinum, Black & Gold Credit Cards

1 - 10 of 106

Product	Bonus points	Points per $ spent	Purchase rate p.a.	Annual fee
Qantas Premier Platinum Qantas Frequent Flyer	Bonus points 90,000	Points per $ spent 1	Purchase rate p.a. 20.99%	Annual fee $349 first year ($399 after)	Earn up to 90,000 bonus Qantas Points when you meet the minimum spend requirement. Plus, save with a reduced first-year annual fee.	Go to site More info Compare	loading Fetching your data...
Bankwest Breeze Platinum Mastercard Finder Award	Bonus points N/A	Points per $ spent N/A	Purchase rate p.a. 12.99%	Annual fee $59	Get 0% p.a. interest on balance transfers for 24 months (with a 3% balance transfer fee). Plus 0% foreign fees and complimentary overseas travel insurance.	Go to site More info Compare	loading Fetching your data...
NAB Rewards Platinum Card – Velocity Points Most LovedVelocity Frequent Flyer	Bonus points 80,000	Points per $ spent 1	Purchase rate p.a. 20.99%	Annual fee $95 first year ($195 after)	Get up to 80,000 bonus Velocity Points: 60,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months. Ends 31 July 2025.	Go to site More info Compare	loading Fetching your data...
American Express Qantas Business Rewards Card Finder AwardQantas Business Rewards	Bonus points 150,000	Points per $ spent 1.25	Purchase rate p.a. 0%	Annual fee $225 first year ($450 after)	Limited-time offer: Earn 150,000 bonus Qantas Points when you spend $6,000 on eligible purchases in the first 3 months. Plus, a half off annual fee in the first year. ABN holders w/ $75k revenue.	Go to site More info Compare	loading Fetching your data...
ANZ Rewards Black Credit Card Finder AwardANZ Rewards Program	Bonus points 160,000	Points per $ spent 2	Purchase rate p.a. 20.99%	Annual fee $375	Earn up to 160,000 bonus ANZ Rewards Points: 110,000 points + $100 back when you spend $5,000 in the first 3 months from approval, and 50,000 points when you keep your card open for 15 months.	Go to site More info Compare	loading Fetching your data...
Coles No Annual Fee Mastercard Flybuys	Bonus points 10,000	Points per $ spent 0.5	Purchase rate p.a. 20.74%	Annual fee $0	Get 10,000 bonus Flybuys points (worth $50 Flybuys dollars) when you spend $3,000 on eligible purchases in the first 3 months.	Go to site More info Compare	loading Fetching your data...
American Express Velocity Platinum Card Most LovedVelocity Frequent Flyer	Bonus points 60,000	Points per $ spent 1.25	Purchase rate p.a. 23.99%	Annual fee $440	Enjoy 60,000 bonus Velocity Points when you spend $3,000 in the first 3 months. Plus, up to 100 bonus Status Credits and up to 2.25 Velocity Points per $1 spent.	Go to site More info Compare	loading Fetching your data...
Virgin Australia Velocity Flyer Card - Balance Transfer Offer Velocity Frequent Flyer	Bonus points N/A	Points per $ spent 0.66	Purchase rate p.a. 20.74%	Annual fee $149	Get 0% p.a. on balance transfers for 24 months (with 1% BT fee) and $129 Virgin Australia Gift Voucher.	Go to site More info Compare	loading Fetching your data...
Qantas American Express Ultimate Card Finder AwardQantas Frequent Flyer	Bonus points 50,000	Points per $ spent 1.25	Purchase rate p.a. 23.99%	Annual fee $450	Get a yearly $450 Travel Credit and 50,000 bonus Qantas Points when you spend $5,000 on eligible purchases in the first 3 months.	Go to site More info Compare	loading Fetching your data...
Citi Clear Card - Limited Time Offer	Bonus points N/A	Points per $ spent N/A	Purchase rate p.a. 14.99%	Annual fee $149	Offers 0% p.a. on balance transfers for 20 months with a one-time 2% balance transfer fee. Plus, get $10 cashback per month with BINGE.*	Go to site More info Compare	loading Fetching your data...

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Platinum and gold credit cards offer higher credit limits and perks like concierge services and premium rewards points on your spending
While these cards have higher annual fees, many come with benefits that can easily offset the cost, such like complimentary insurance or travel and flight credits
Eligibility requirements are typically stricter, often requiring a higher income or strong credit history.

What's the difference between platinum, gold and black credit cards?

Platinum, gold and black credit cards are premium options that open the door to exclusive benefits. While they are all premium options that offer a range of benefits like rewards points, free flights, and concierge services, each represents a different level of status and service.

Gold credit cards are a step up from standard credit cards. Many of the gold credit cards that used to be available in Australia have been replaced with platinum cards.
Platinum credit cards are the next level up from gold and standard cards. Some premium cards that were considered "platinum" are now "black".
Black credit cards are at the top of the pack. They offer features like higher (or unlimited) credit limits, more reward points and a huge range of complimentary extras. Black cards are typically suited to people who earn and spend a lot.

Gold credit cards

Gold credit cards are the “entry level” option for premium credit cards and are designed to suit people who are interested in getting more features and benefits, but who don’t want to pay much more than they would for a standard card.

The features you can expect from a Gold credit card

More reward points per $1 than standard cards
Higher point caps than standard cards
Complimentary travel insurance
Complimentary purchase protection insurance
Annual fees similar to standard cards, or slightly higher
Minimum credit limits typically starting from $1,000

Gold credit cards also have slightly higher income and credit history requirements than standard cards – but not as high as those of platinum or black cards.

Platinum credit cards

Platinum credit cards are considered more premium than gold cards and offer a wider range of features and more flexibility. They are designed for people who want to get more value from regularly paying with plastic.

The features you can expect from a Platinum credit card

Complimentary international travel insurance with higher covers, domestic interstate flight inconvenience insurance and car hire insurance
Airport lounge access
Complimentary purchase protection insurance
More reward points per $1 spent than gold cards and higher reward points caps
Personal concierge services
Higher annual fees than gold cards, typically ranging from $59 to $1,750

Some platinum credit cards may also provide other spending benefits for customers. For example, platinum Bankwest credit cards offer no international transaction fees for purchases made overseas or online with an international retailer.

Platinum vs gold credit cards in Australia

One of the biggest differences between platinum and gold cards in Australia is that there is a larger selection of platinum credit cards than gold cards. In fact, while all of the Big 4 Banks in Australia (ANZ, NAB, CommBank and Westpac) offer platinum cards, only CommBank offers gold credit cards for personal customers.

Platinum cards also offer higher minimum credit limits than gold cards, which means they're only available to those who earn a certain, relatively high minimum income. The list of features and bonuses are usually greater than gold.

Black credit cards

Black credit cards are considered the ultimate in premium credit cards, with the highest level of service and broadest range of benefits.

The features you can expect from a Black credit card

As well as features offered on gold and platinum cards, a black card may offer:

The highest number of points per $1 for reward programs
Complimentary airport transfers
Travel credit or flight offers
Dedicated travel booking services
A personal concierge service
A personal shopper
Invitations to exclusive events or promotions
Higher credit limits (sometimes up to $100,000)
Annual fees ranging from $0 to $1,200

Black credit cards are designed for high earners who pay with plastic very regularly. As such, the minimum income requirements for these cards are usually a minimum of $35,000 to $75,000, sometimes more. You also need flawless credit history to get a black credit card.

What to consider before applying

The benefits of a platinum, gold or black credit card are only worth it if they offer more value than the annual fees, which can be hefty. Ask the following questions before choosing which type of card to get suits you best:

How often do you use your credit card?

Gold, platinum and black credit cards are designed for people who regularly use a credit card, and their annual fees and credit limits reflect that.

You also usually need to pay with the credit card to get value from the premium features and benefits, such as rewards, travel credit and complimentary insurance.

💡Tip: If you don’t use a credit card very often, you could look at a low rate or no annual fee option instead.

How much do you spend on your credit card?

If you choose a premium rewards card, make sure the value of the points you earn outweighs the cost of the annual fee. For bonus point offers, always check the spending requirements to make sure they are reasonable for you.

💡Tip: Not sure how much your points are worth? Finder's credit card points calculator will give you a quick estimate, plus more insights and tips on working out the value of points.

How much money do you earn?

Gold, platinum and black credit cards typically have higher income requirements than standard credit cards. And even if no minimum income amount is listed, you'll still need to show proof of a regular income that would be enough to manage the card's minimum credit limit.

How many premium credit card features will you actually use?

Rewards and extras can help offset the cost of a credit card, but only if you use them. Be realistic about which benefits you will use, so you can find a card with the right mix of features and costs.

Do you pay off your credit card balance in full?

Many gold, platinum and black credit cards have high interest rates for purchases, which can be expensive if you carry a balance from month to month. When that's the case, a platinum credit card with a low ongoing interest rate could help you save on interest charges.

How much are you willing to pay on an annual fee?

Premium credit cards typically have higher annual fees than basic cards. If you have an idea of the maximum annual fee you want to pay, you can use the filters on Finder's comparison table so you only see cards that fit within that range.

Do you have an excellent credit history and credit score?

These credit cards typically require a very good to excellent credit score.

If you have negative details on your credit report, such as late payments or defaults, you may not be eligible to apply for a gold, platinum or black credit card.

Frequently asked questions about premium credit cards

Whether you are looking at a standard credit card or a more premium gold, platinum or black card, it's important to compare the different features based on your situation and goals. Some of key features to look at when comparing premium cards include:
- Bonus point offers. Introductory bonus point offers may differ between gold, platinum and black cards, with black cards typically offering the highest amount of bonus points when you sign up.
- Complimentary extras. Complimentary extras may include travel and purchase insurances, concierge services and other travel perks like airport lounge access or travel credit. When comparing black, platinum and gold credit cards, make sure you consider how many of the perks you will use, as this can help you decide if the cost of the account is worth it for you.
- Reward points per $1. Black cardholders usually earn the most rewards points per $1 spent, followed by platinum and then gold cardholders. As an example, a standard rewards card could offer 0.5 points per $1, with the gold version offering 1 point per $1, the platinum 1.5 points per $1 and the black card 2 points per $1 spent.
- Reward point caps. If a reward credit card limits the amount of points you can earn per statement or year, the amount you can earn will increase with each level of card. This means a standard card would have the lowest points cap, followed by a gold card, then a platinum card and lastly a black card – giving the black card the highest point-earning potential.
- Annual fees. When you're comparing cards from the same issuer, standard cards will have the lowest annual fees, followed by gold, then platinum and then black. Ideally, the value you get from the card's perks should balance out this cost.
- Minimum income requirements. As a general guide, the more premium the card is, the higher the minimum income requirement. This means you will need to earn a higher income for black cards (and some platinum cards) compared to gold or standard cards.

Thank you for your feedback!

Written by

Amy Bradney-George

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

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Amy has written 543 Finder guides across topics including:

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37 Responses

TrevJune 2, 2015

Hi,

I want the best value rewards credit card without a crazy high annual fee that offers no foreign transaction fees. These fees are amazingly deceptive because they are activated when dealing with some companies supposedly based in Australia but are domiciled overseas. Just another credit card company/bank rip off. I see Bankwest have 1 but not to sure on it. Any suggestions please? A list would be great, thanks

Finder

JonathanJune 2, 2015Finder

Hi Trev,

Thanks for your inquiry.

Please refer to the following link for a list of credit cards with no annual feeand no foreign transaction fees. You can select the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

Cheers,
Jonathan

TrevJune 2, 2015

Thanks but this is not what I asked.
I am looking for REWARDS credit cards with no foreign transaction fees. Thank you

Finder

JonathanJune 2, 2015Finder

Hi Trev, thanks for your response!

Please refer to the following link for a list of no foreign currency exchange fee credit cards including rewards credit cards.

Cheers,
Jonathan

bradApril 22, 2015

Hey I would like to see if I can get a credit card with you please.

Finder

JonathanApril 23, 2015Finder

Hi Brad, thanks for your inquiry!

Please note that finder.com.au is a comparison service and is not directly affiliated with any banks. The application criteria and requirements are listed under each credit card review page. If you meet those criteria then you will be eligible to apply. To allow me to assist you further was there a specific credit card you were inquiring about today?

Cheers,

Jonathan

AnnMarch 18, 2015

I don’t work iv bad credit at the moment so can you help me be accepted for credit card

Finder

JonathanMarch 18, 2015Finder

Hi Ann,

Thanks for your inquiry.

Australia does not have a credit card product targeted towards bad credit customers, though there are ways to improve your credit score and increase the chance of being approved.

Repairing or improving your credit score is not a quick and easy process. It may take a significant amount of time and require a long period of financial responsibility on your part. You may find this guide useful to improve your credit score.

You may also wish to refer to a guide on how you can repair your credit rating.

Cheers,
Jonathan

harryNovember 3, 2014

Hi I have a Westpac platinum and paying for a trip over seas from June 3rd to 23 September with my wife
does the travel ins cover me for wile I am away . The ins says only 3 months and there a lots of could pay for this in a lot of clauses in travel ins .Is there a number to contact if about parts of insurance.

Finder

ElizabethNovember 4, 2014Finder

Hi Harry,

Thanks for your question.

The period of cover last for six months if you have an Earth Platinum, Altitude Platinum or an Altitude Qantas Platinum, Singapore Airlines Westpac Platinum card or a Westpac Platinum 55 day card.

The cover will last for three months if you have any of the Platinum Plus range of credit cards. You can get in contact with Zurich (the insurance providers) directly if you have questions regarding your insurance cover, I’ve sent you through the number.

Thanks,

Elizabeth

AnneMarch 8, 2014

Is insurance free for Platinum card Mastercard holders if paid for by that card for travellers of 81 years of age

AlanMay 14, 2014

as a business owner I am concerned about the interest rate we pay on the various cards .521% on standard credit cards and up to 2.8% premium plus and other cards Is it legal to pass that cost on and if so how does one identify the cards as there appears to be no clear identification on some cards
cheers Alan

Finder

ShirleyMay 15, 2014Finder

Hi Alan,

Thanks for your question.

Usually a good place to check is the Product Disclosure Statement of the credit card, and then confirm what the interest rates are on the bank’s website. On creditcardfinder.com.au, the interest rates are listed in the blue tables under the heading ‘interest rates’.

Cheers,
Shirley

Finder

JacobMarch 10, 2014Finder

Hi Anne.

It will depend on the provider. Each card issuer (Commonwealth Bank, ANZ, Westpac for instance) has slightly different rules about the cut off age for their complimentary insurance policies. If you can let me know which Platinum MasterCard you’re referring to, I can give you a little more information.

Thanks for your question.

Compare Platinum, Black & Gold Credit Cards

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