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Compare American Express credit cards

Before you sign up for a new credit card, compare a range of American Express (Amex) credit cards to help find one that suits your needs and budget. Compare each card’s rates, fees and features, which will all be different and be more suited for different people. Find the right Amex credit card for your personal financial needs and budget.

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Vidhu Bajaj

Updated on

17 May, 2024

Founded in 1850, American Express started as an express mail service in the United States and grew to become a multinational financial services company. Over the years, the company has adapted to meet customer needs, from introducing traveller’s cheques in 1891 to moving beyond mail delivery and into travel in 1915.

In 1958, American Express introduced small green plastic cards that were charge cards and created a new status symbol in the financial industry. These new cards enabled individuals to make purchases without relying on cash. These green cards soon became iconic and synonymous with the Amex brand.

To this day, American Express continues its history of offering a diverse range of payment options to customers, including a range of credit cards worldwide. Their credit cards are typically known for their generous rewards programs, including cash-back offers, travel rewards, and membership rewards that are redeemable for various benefits such as frequent flyer points, hotel stays, and other exclusive experiences.

Types of American Express credit cards

American Express offers a range of credit cards in Australia, each with different benefits and rewards cardholders might want to use. Some of the credit card types that offer benefits include:

Membership rewards credit cards

Amex Membership Rewards credit cards allow you to earn Membership Rewards points on eligible purchases, which are redeemable for various rewards and benefits. There are a range of different types of Membership Rewards credit cards available, each with its own rate at which you can accumulate points, benefits and annual fees. Once you accumulate points, they’re available to redeem for gift cards, travel bookings, merchandise, credits to be used on your bill, or transferred to various partner loyalty programs. You may also get access to bonus point offers or special promotions, which will help boost your points balance and grow your rewards.

Before deciding on a card with a rewards program, it could be worth comparing the points-earning potential across various cards. When you’re comparing cards, you should take into account any minimum spend requirements or redemption fees. It's also worth looking at the annual fee associated with rewards credit cards, as they generally don't come cheap. If you're not careful, you may find that the fees and interest rates associated with the card outweigh any benefits you may receive with the rewards.

Travel rewards credit cards

Besides offering travel-related perks directly, such as bonus travel credit and complimentary airport lounge access, on some of its cards, Amex also offers frequent flyer credit cards. These cards can be linked to your Qantas and Velocity frequent flyer account and help you earn frequent flyer points. With these cards, every dollar you spend will help you increase the frequent flyer points with whichever program you’ve linked to the card. These can then be used for different travel perks.

Whether you're a Qantas or Velocity frequent flyer program member, Amex's frequent flyer credit cards offer seamless integration with your chosen program. This can help you potentially earn points faster and enjoy better travel opportunities.

No annual fee credit cards

American Express's no annual fee cards might be an attractive option for those who want to enjoy the benefits of an American Express card while keeping their overall cost low. These are often most suited to people who are unlikely to use the card regularly, are budget-conscious, or prefer to keep their expenses low.

By opting for a no-annual fee card, you can still access some of the benefits and rewards offered by Amex without paying the fees, which can eat into any benefits. If you’re looking for an Amex credit card to take advantage of things like travel benefits, travel credits or lounge access, you may want to look at the other cards that do come with annual fees. Ultimately, the most important thing is to choose a credit card that matches your spending habits, lifestyle, and preferences.

Which American Express credit card is right for you?

When determining which credit card is right for you, you need to consider your financial goals and spending habits. American Express cards offer various benefits and rewards, so choosing between them will come down to what you need them for and how they can help you manage your finances.

If you’re looking for a low-cost option, you can explore Amex’s no-annual-fee card, which still offers some perks but without the fees. These cards may offer fewer rewards and benefits than the cards, which charge an annual fee but still have some rewards that make them beneficial if that’s what you’re looking for.

On the other hand, if you’re more interested in the benefits of an Amex card, such as rewards programs, cash-back offers and other benefits, you should review the premium American Express cards. Some of the benefits these cards offer include concierge services, complimentary insurance, and the ability to earn points for purchases you can then exchange for goods, services, or even flights.

However, remember that the cards with more rewards are more premium cards and often come with high annual fees and interest rates. American Express typically targets these cards towards higher income earners with more spending capacity, as they might not be as concerned about higher fees. These bigger spenders are also more likely to accumulate the rewards offered by these cards faster, making them more beneficial to them than someone who doesn’t plan to spend much. Plus, when you can accumulate these benefits, you can redeem them for things like travel deals, which may offset the higher costs of these cards.

If you’re looking for a card to use for your everyday purchases like groceries or fuel, then you’re unlikely to accumulate enough points to redeem substantial rewards, making the premium reward cards less beneficial. Without the ability to access the rewards, you’ll have to pay higher fees and interest rates without any access to the benefits that may offset these costs. So, consider your spending habits and financial goals before signing up for any credit card, whether Amex, Mastercard, or Visa. The most important part of shopping for a credit card is comparing all your options and finding the one that suits your needs, lifestyle and financial goals.

Benefits of Amex credit cards

We’ve gone over the different types of credit cards American Express offers and have touched on some of the benefits. To get more details on these, we’ve listed some of the potential benefits associated with Amex credit cards below:

Perceived prestige and status

Despite there being more credit cards in the market than when American Express first launched, having an American Express card is still seen as a symbol of prestige and success. The brand is associated with luxury and exclusivity and can offer some form of enhanced reputation or financial status if this is something you consider important. However, it's worth noting that other credit card issuers, such as Visa and Mastercard, now offer exclusive metal cards that carry a similar sense of prestige. In the end, it’s a personal preference.

Exclusive benefits and rewards

Many Amex credit cards are known for exclusive benefits, such as access to airport lounges, travel credits, complimentary hotel upgrades, and concierge services. Amex also offers a generous rewards program, but remember that the interest rate and fees associated with these rewards cards are usually higher than the cards without these rewards. You’ll want to determine if the benefits outweigh the higher costs before getting one of these cards.

Exceptional customer service

American Express is renowned for its commitment to providing high-quality customer service. If you’re someone who values personalised and attentive assistance you’ll appreciate the customer service offered by American Express customer care representatives.

'Plan It' instalment plans

Plan It is a credit card feature that allows you to repay new purchases in interest-free instalments over a period of 3, 6, or 12 months. However, these plans come with a fixed fee, so check these details before choosing this option.

Complimentary insurance

Many American Express credit cards offer complimentary insurance coverage, including domestic and international travel insurance, purchase protection insurance and smartphone screen cover. However, to activate the cover, you may need to use your Amex credit card to pay for the trip or the insured item, so check the terms of the insurance for that information.

Drawbacks of Amex credit cards

Along with these benefits, there are some potential drawbacks of an Amex credit card, including:

Limited acceptance

While Amex credit cards are accepted globally, it's important to note that their acceptance at individual stores may not be as widespread as Visa or Mastercard. Some smaller merchants or establishments don't accept Amex cards due to their higher merchant fees.

Higher annual fees

Amex credit cards often charge higher annual fees compared to other card issuers. You may justify this fee by balancing it against the exclusive benefits and rewards offered. But if you don’t make full use of these benefits, you may find that the higher costs don’t outweigh any of the benefits you get from the card. That's why you should always consider your personal spending habits, financial goals and lifestyle when picking a card, as it helps you get the most value out of it.

Currency conversion fees

If you’re regularly making purchases from overseas, which will require currency conversions, you should be aware of the fees that come with this. American Express typically charges a currency conversion fee of 3% of the transaction amount for purchases made in foreign currencies. If you travel abroad frequently, these fees can accumulate and significantly impact the cost of using your Amex card.

There may also be a foreign transaction fee on top of these conversion fees when making these purchases. Remember to read the Product Disclosure Statement carefully and understand the different types of fees associated with a card to better understand how much it will cost you.

How do you apply for an American Express credit card?

To apply for an Amex credit card, start by researching the available options on the American Express website or use our comparison tables to view and compare the different options. Once you've chosen the specific card that suits your needs, review the eligibility criteria to ensure you meet the requirements, as some cards may have a certain minimum income.

Once you're sure about the card you want, gather the necessary documents, such as proof of income and identity documents, and apply online through the Amex website. Ensure you fill out the form completely and carefully with accurate information to help boost your chances of getting approved. American Express will then review your application and let you know if it’s been approved. Once approved, you can expect your card to be delivered in a few business days.

Vidhu Bajaj

Personal Finance Writer

Vidhu is a Personal Finance Writer at RateCity. She has been writing about finance topics from car loans and home loans to superannuation and cryptocurrencies for over five years. Before moving into finance, Vidhu went to law school where she studied human rights law. She has a Bachelor of Law degree and has previously worked in asset finance for Clifford Chance for more than four years. During her time at Clifford Chance, she worked in the India, London and Hong Kong offices on everything from aviation to vessel finance. In her spare time you’ll find her reading the Australian Financial Review or spending time with her dog Coco.

This article was reviewed by Personal Finance Editor Peter Terlato before it was published as part of RateCity's Fact Check process.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Types of American Express credit cards

American Express offers a range of credit cards in Australia, each with different benefits and rewards cardholders might want to use. Some of the credit card types that offer benefits include:

Compare American Express credit cards

Kogan Money Black Card

ANZ Low Rate (Credit Back Offer)

David Jones Premiere credit card

ANZ Rewards Black

ANZ Rewards Platinum (Points offer)

ANZ Low Rate (Balance Transfer Offer)

ANZ First

ANZ Platinum

David Jones Prestige credit card

ANZ Rewards Platinum (Velocity Frequent Flyer points)

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