Fly away with the American Express Platinum Edge credit card

Credit card users are frequently warned to stay clear of cards that charge high interest rates and exorbitant fees; however, some high-rate credit cards have a number of priceless benefits and rewards for their users. The American Express Platinum Edge is one such, offering great “bang” for the buck, and thrifty users should assess the benefits before dismissing this high interest rate card.

American Express has reinvigorated the platinum credit card with Platinum Edge, which offers users great rewards including free flights (under certain conditions). It operates a 3-2-1 system in which Platinum Edge card users receive anywhere between 1 and 3 rewards points for purchases. Cardholders earn:

• 3 points for each dollar spent at the majority of supermarkets.
• 2 points for each dollar spent for gas at major petrol stations, and
• 1 point for each dollar spent just about anywhere else.

American Express also offers a year’s worth of complimentary access to the Ascent rewards program, in addition to the Platinum Priority Service, a program that answers queries related to the card 24 hours a day, 7 days a week. Cardholders can also request up to four supplementary cards at no cost.

Rewards points can be redeemed and used for flights with any of the seven airlines that partner with American Express, plus more than 1,500 items, gift cards, and even as a credit on the account. An extra benefit of the card is a free flight each and every year within Australia via Virgin Airways. Each international flight booked with the Platinum Edge credit card is covered free of charge by medical insurance and baggage insurance, with coverage up to $2,500,000 and $10,000, respectively.

The Platinum Edge is a high interest rate card with an annual rate greater than 20% p.a. and a moderate annual fee for a platinum credit card of $149. With proper use that includes repaying the balance in full each month, this card can be relatively cheap and the rewards and benefits worth the price. Thrifty card users should not shy away from cards that offer such superior levels of rewards.