A gold credit card and a platinum credit card can provide you with a wide range of benefits such as free travel insurance and increased reward point earnings. The cards tend to come with an increased annual fee and higher interest rates but if you regularly use your credit card for purchases then the benefits you’ll earn will quickly outweigh the costs. Below are the gold and platinum credit cards from the top banks and providers within Australia. Use the table to find the best card for your needs or find out more information on gold and platinum credit cards.

Credit Card	Interest Rate	Balance Transfer Rate	Interest Free Days (up to)	Annual Fee	Rewards
ANZ Frequent Flyer Platinum	19.49% p.a.	N/A	0% 44 days	$95 p.a.	Qantas Frequent Flyer
Earn 10, bonus Qantas Frequent Flyer Points if you apply by 31 May 2010 Earn up to 1 Frequent Flyer point for every dollar you spend 24/7 monitoring of suspicious transactions If you are a non-permanent Australian resident you must have an income of $50,000 Up to 44 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.49%. Cash advances have an annual interest rate of 20.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 19.49%. You will not be charged interest on any purchases for the first 44 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.49% on any purchases you make. This credit card has an annual fee of $95 p.a. You can earn up to 1 Qantas Frequent Flyer point for every dollar you spend and your points are not capped as long as your card stays active. You can redeem points for Qantas travel services.
ANZ Gold	18.99% p.a.	7.99% p.a. 6 months	0% 55 days	$87 p.a.	No rewards
Enjoy all the benefits of this card and pay a low annual fee of $87 Free Overseas Travel and Medical Insurance Free 90-day Purchase Security Insurance You must have an income of over $50,000 Balance transfer only available to new customers and no balance transfers between ANZ Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 18.99%. Cash advances have an annual interest rate of 20.74%. Enjoy an interest rate (per annum) of 7.99% on balance transfers for up to the first 6 months. Once the 7.99% period ends you will be charged an annual interest rate of 18.99% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 18.99% on any purchases you make. This credit card has an annual fee of $87 p.a. You do not receive rewards on this card.
Bank of Queensland Gold Visa Card	20.24% p.a.	1.9% p.a. 9 months	0% 55 days	$120 p.a.	Travel, Shopping
Enrollment into the Q Rewards® program Free International Travel Insurance Free Purchase Cover Insurance Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.24%. Cash advances have an annual interest rate of 20.74%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 9 months. Once the 1.9% period ends you will be charged an annual interest rate of 20.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.24% on any purchases you make. This credit card has an annual fee of $120 p.a. You can earn up to 1.75 reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
Bank of Queensland Platinum Visa Card	20.24% p.a.	N/A	0% 55 days	$199 p.a.	Travel, Shopping
Enrollment into the Q Rewards® program Free International Travel Insurance Free Purchase Cover Insurance Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.24%. Cash advances have an annual interest rate of 20.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.24%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.24% on any purchases you make. This credit card has an annual fee of $199 p.a. You can earn up to 2 reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
Citibank Clear Platinum Credit Card	11.49% p.a.	0% p.a. 6 months	0% 55 days	$49 for 1st yr, then $99 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $49 Free purchase cover and extended warranty Range of discounts and vouchers You must have an income of over $50,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 11.49%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 11.49% on any purchases you make. This credit card has an annual fee of $49 for 1st yr, then $99 p.a. You can receive a 25% discount on dining and shopping through Cit World Privileges at participating outlets.
Citibank Gold Card	20.74% p.a.	1.9% p.a. 12 months	0% 55 days	$149 p.a.	Travel, Shopping
Free international travel insurance for you and your family Free purchase cover insurance Range of discounts and vouchers You must have an income of over $35,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 12 months. Once the 1.9% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $149 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
Citibank Platinum Credit Card	20.74% p.a.	3.9% p.a. Life of balance transfer	0% 55 days	$250 p.a.	Travel, Shopping
Access to a Personal Concierge Free international travel insurance for you and your family Range of discounts and vouchers You must have an income of over $50,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.9% on the life of the balance transfer. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $250 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
CitiBusiness Gold Credit Card	20.49% p.a.	2.9% p.a. 9 months	0% 55 days	$74 for 1st year, then $149 p.a.	Travel, Shopping
Access to a complimentary business concierge Free international travel insurance Range of discounts, vouchers and cashback rewards Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.49%. Cash advances have an annual interest rate of 20.99%. Enjoy an interest rate (per annum) of 2.9% on balance transfers for up to the first 9 months. Once the 2.9% period ends you will be charged an annual interest rate of 20.99% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 20.49% on any purchases you make. This credit card has an annual fee of $74 for 1st year, then $149 p.a. You can earn up to 1.25 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
CUA Rewards MasterCard Gold	19.24% p.a.	2.9% p.a. 9 months	0% 55 days	$85 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $85 Huge range of rewards; cashback, shopping vouchers and travel discount No balance transfers between Credit Union Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.24%. Cash advances have a rate of 19.99% p.a. Enjoy a balance rate of 2.9% for the first 9 months. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.24% on any purchases you make. This credit card has an annual fee of $85 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
IMB Rewards MasterCard Gold	19.24% p.a.	2.9% p.a. 9 months	0% 55 days	$99 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $99 Huge range of rewards; cashback, shopping vouchers and travel discount You must have an income of over $35,000 No balance transfers between CUA and Citigroup Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.24%. Cash advances have a rate of 19.99% p.a. Enjoy a balance rate of 2.9% for the first 9 months. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.24% on any purchases you make. This credit card has an annual fee of $99 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
St. George Platinum Credit Card	15.74% p.a.	3.99% p.a. 6 months	0% 55 days	$89 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $89 Free shopping and travel insurances 24/7 access to the Personal Concierge Service No balance transfers between St.George or BankSA Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 15.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 6 months. Once the 3.99% period ends you will be charged an annual interest rate of 15.74% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 15.74% on any purchases you make. This credit card has an annual fee of $89 p.a. You revcieve instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
Suncorp Gold Credit Card	19.75% p.a.	1.9% p.a. 12 months	0% 55 days	$99 p.a.	Qantas Frequent Flyer
Enjoy all the benefits of this card and pay a low annual fee of $99 Credit limits of up to $25,000 Free International Travel & Purchase Cover Insurance You must have an income of over $35,000  After 12 months months, balance transfers have a cash advance interest rate of 19.75% p.a. Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.75%. Cash advances have an annual interest rate of 19.75%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 12 months. Once the 1.9% period ends you will be charged an annual interest rate of 19.75% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 19.75% on any purchases you make. This credit card has an annual fee of $99 p.a. You can earn up to 1 reward point for every dollar you spend and for an additional $19 per annum you can join the Suncorp Qantas Frequent Flyer and earn 2 Qantas Frequent Flyer points for every $3 spent. You can redeem points for travel services, entertainment and shopping offers.
Suncorp Platinum Credit Card	19.99% p.a.	3.9% p.a. p.a. for the life of the balance transferred	0% 55 days	$205 p.a.	Qantas Frequent Flyer
24/7 access to the Personal Concierge Service Credit limits of up to $30,000 Free International Travel & Purchase Cover Insurance You must have an income of over $50,000 Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.99%. Cash advances have an annual interest rate of 19.99%. Enjoy an interest rate (per annum) of 3.9% on the life of the balance transfer. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.99% on any purchases you make. This credit card has an annual fee of $205 p.a. You can earn up to 1 reward point for every dollar you spend and for an additional $19 per annum you can join the Suncorp Qantas Frequent Flyer and earn 1 Qantas Frequent Flyer point for every $1 spent. You can redeem points for travel services, entertainment and shopping offers.
ANZ Frequent Flyer Gold	19.49% p.a.	N/A	0% 55 days	$195 p.a.	Qantas Frequent Flyer
Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.49%. Cash advances have an annual interest rate of 20.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 19.49%. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.49% on any purchases you make. This credit card has an annual fee of $195 p.a. You can earn up to 1.25 Qantas Frequent Flyer point for every dollar you spend and your points are not capped as long as your card stays active. You can redeem points for Qantas travel services.

What are gold credit cards?

A gold credit card provides a wide range of benefits to the holder. These benefits can include travel insurance, extended product warranties and increased earnings on reward points. These cards typically have high annual fees and higher interest rates than standard credit cards. They also have reasonably strict requirements such as a minimum annual salary and a good credit rating. However, if you can obtain a gold credit card they can provide a wide range of benefits.

What are platinum credit cards?

A platinum credit card is very similar to a gold credit card however, the main difference is that the platinum card has stricter requirements but provides the card holder even greater benefits, such as life balance transfers.

Why should I get a gold or platinum credit card?

If you find that you rely on your credit card on a regular basis then shifting to a gold or platinum credit card could be a great option. With their added benefits and higher reward earnings they can easily end up saving you money.

However, regardless of the a card's benefits you'll need to work out if your average monthly credit card spend will provide more rewards than the annual fee of the card and you should always try to pay your full monthly payment off before you incur interest fees.

How to choose the right gold credit card or platinum credit card

The gold and platinum credit cards offer a wide range of benefits and privileges to the card holder. When choosing a gold / platinum credit card you will need to look at the features on each card to determine the right one for you. The following are some questions you might want to ask yourself: -

• Do you have existing credit card debt? If you have a considerable amount of credit card debt, which will take you a long time to repay then you should look into the gold / platinum credit cards that offer balance transfers. This balance transfer could literally save you thousands of dollars a year on reduced interest fees. Find more information on balance transfer credit cards.


• Do you frequently travel? If you find yourself travelling on a regular basis then you should review the travel perks of each gold / platinum credit card. You can find great programs that offer a range of travel services, such as free international and domestic travel insurance, flight cancellation insurance, increased baggage allowance and flight upgrades.


• Do you prefer shopping rewards over travel perks? You should focus on the gold and platinum credit cards that focus on general reward schemes and not travel related benefits. Also look out for the cards that earn you the most points per dollar spent, as this will further help to increase the card's value to you.


• Do you frequently purchase electronic goods or other expensive products? Most of the gold and platinum credit cards offer purchase cover or extended product warranty that will protect your purchases against theft, damage and loss.


• Do you own a business? Some of the credit card providers have platinum and gold credit cards specifically designed for business owners. Find more information on business credit cards.

Benefits of a Platinum and Gold Credit Card

• Travel perks - most of the gold and platinum credit cards offer services and products that will improve your domestic and international trips. You should look closely at each credit card but in general you can expect complimentary travel insurance that covers medical expenses, personal liability, rental car damage and theft and protection for lost luggage and documents. Some of the more premium cards offer a personnel concierge service that can arrange dinner reservations, shopping advice and tickets to entertainment events.


• Rewards programs - nearly all of the platinum and gold credit cards automatically enroll you into a reward program. These reward programs vary but with a gold or platinum credit card you can typically enjoy an increase in reward point earnings; increasing it up to 3 reward points per dollar spent on the card.


• Generous balance transfer offers - if you have a large amount of credit card debt then a balance transfer to a gold credit card or platinum credit card is a great option. Most of these cards offer a low interest rate for balance transfers for a 12 month period or for the life of the balance, which can save you thousands of dollars per year. Just remember not to use your credit card while you're still paying off the balance transfer debt.


• Interest free on purchases - most have 55 days interest free periods on all purchases made on the card, an additional benefit to having a gold or platinum credit card.


• Increased spending limits - As the banks enforce a high minimum requirement for the gold / platinum credit cards, once approved, you'll benefit from the considerably large spending limits, which can be very useful if you urgently require a large sum of funds.


• Increased card security - Due to the increased spending limits the credit card providers ensure top security on the gold and platinum credit cards and they will actively monitor your card for suspicious activity.


• Additional product warranty and cover - the gold and platinum credit cards typically offer extended warranty and cover on new purchases you make. This means on top of the standard manufacturer's warranty the credit card provides additional coverage.

Negatives of a Gold or Platinum credit cards

• Higher annual fees - the gold and platinum credit cards generally have a higher annual fee than standard credit cards. Some of the credit cards have an annual fee of up to $400. You should consider how much you will spend on a gold / platinum credit card and the predicted benefits you think you'll receive; do the benefits outweigh the costs?


• High interest rates and cash advances - with increased rewards and benefits the banks generally charge a higher interest rate, especially for the gold credit cards. This is an important factor of a gold / platinum credit card as you should always aim to pay off your credit card debt before incurring interest fees, otherwise these fees can easily outweigh the card's rewards.


• Additional requirements - due to the increased spending limits and privileges of a gold credit card and a platinum credit card, these typically have high minimum requirements regarding your annual salary and your business, if you're applying for a platinum / gold business credit card. The minimum annual income required on some of the cards can be up to $100,000 and some of the business cards stipulate that your business must be active for at least 1 year.

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