Reviews

Review: BankSA Amplify Platinum Visa card

By Chris Chamberlin, August 15 2018
BankSA Amplify Platinum Visa card
Notes
The Good
  • Low annual fee
  • No points capping
The Bad
  • Everyday points earn rate could be higher
Added Value
  • Bonus points for eligible new customers

Introduction

With no limit to the number of points you can earn every month or year, access to four airline frequent flyer partners including Qantas, Virgin Australia, Singapore Airlines and Malaysia Airlines (depending on your card choice) and bonus points for eligible new customers, there's a lot to like about BankSA's Amplify Platinum Visa credit card.

Costing just $99/year ongoing (reduced to $49 in the first year if opting for Amplify Points), the annual fee won't break the bank, and while you mightn't be familiar with the BankSA brand, it's backed by Westpac: on-par with the likes of St. George and Bank of Melbourne, which also offer similar Amplify credit cards.

Here's what BankSA has to offer, whether you choose the Amplify Platinum card with Qantas Points, or the Amplify Platinum card with Amplify Points.

BankSA Amplify Platinum card: fast facts

  • Grade/tier: Platinum
  • Card type: Visa
  • Loyalty variants: Qantas Points (Qantas Frequent Flyer) or Amplify Points (Amplify Rewards)
  • Qantas Points earned per A$1 spent (Qantas Frequent flyer): 0.5
  • Amplify Rewards points earned per A$1 spent (Amplify Rewards): 1.0
  • 1 Amplify Rewards point = 0.5 Velocity Points, 0.5 Singapore Airlines KrisFlyer miles or 0.5 Malaysia Airlines Enrich miles (2:1 conversion)
  • Points capping/tiering: None

BankSA Amplify Platinum card: fees, charges and interest

  • Amplify Platinum annual fee with Qantas Points: $99
  • Amplify Platinum annual fee with Amplify Points: $49 (first year), $99 (ongoing)
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases: 19.74% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 21.49% p.a.
  • International transaction fee: 3.0%
  • Minimum income requirement: No defined minimum
  • Minimum credit limit: $6,000

Earning points for free flights:

Opt for the Amplify Platinum card with Qantas Points and you could earn 60,000 bonus Qantas Points when you apply by February 12 2020 and spend $2,000 on eligible purchases within 90 days of card approval.

Or, select the Amplify Platinum card with Amplify Points and your bounty could be up to 100,000 bonus Amplify Points over two years, when you apply by February 12 2020 and spend $6,000 on purchases each year for two years – that's 70,000 points in year one, and 30,000 points in year two – plus, a reduced first year annual card fee of $49 (normally $99).

With a 2:1 conversion rate, that bonus is currently worth up to 50,000 Velocity points, which is more than enough for a return economy flight anywhere in Australia, or a flight on a variety of international routes.

Regardless of the rewards option you choose, you'll also be rewarded with the equivalent of 0.5 frequent flyer points for every $1 spent on purchases with no points capping, so although some other cards in the market award more points on spends up to a certain amount every month, an uncapped card with a sub-$100 annual fee is usually quite hard to find.

With no fee for having an additional cardholder on the account as well, you could also share the account with your partner, paying only the one annual fee, while earning rewards on all your combined spends.

Airport lounge access:

As you'd expect of most Platinum-level credit cards, airport lounge access isn't included here – but if you take out the higher-tier BankSA Amplify Signature credit card, you'd be eligible for either two Qantas lounge passes every year (via the Signature card with Qantas Points), or a complimentary Priority Pass lounge membership with two yearly visits included (via the Signature card with Amplify Points).

Free insurance coverage:

This is where the Amplify Platinum credit card can easily pay for itself, offsetting its annual fee for those who travel, with complimentary overseas travel insurance available to eligible cardholders who meet the policy criteria, including by using the Amplify Platinum card to pre-pay A$500 or more of travel costs before commencing a journey of three months or less.

Whether using the card to purchase your return travel ticket and associated taxes, to pre-pay some of your accommodation costs for the journey or for other "overseas itinerary items", it potentially gives you the flexibility to book your flights using frequent flyer points, while using the credit card to pay for your hotels and other expenses while still taking advantage of the included insurance cover.

Purchasing selected new appliances with the card can also unlock complimentary extended warranty cover of up to 12 months, with transit accident insurance included as well: but as always, ensure you read and understand the policy documents to decide whether the cover meets your needs and is right for you – and if you're not sure whether you qualify, don't hesitate to contact the insurer (Allianz).

However, there's no interstate flight inconvenience insurance, rental vehicle excess insurance or access to a 'guaranteed pricing scheme' included here, as if offered on some other Platinum cards.

BankSA Amplify Platinum card: the verdict

An annual fee of just $99 (or $49 in the first year when earning Amplify Points) makes this card both affordable and approachable, without requiring a high income to apply or having a points cap getting in the way.

Even if you only travel a couple of times each year, not having to pay for standalone travel insurance policies could easily cover the card's annual fee: and for that, you'd also be earning frequent flyer points year-round on your everyday spends, plus a nice serve of bonus points as an eligible new customer.

Having the flexibility to convert your Amplify Points to multiple airlines could also prove useful if your needs and preferences change over time.

Also read: BankSA Amplify Signature Visa credit card review

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller and lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!


Hi Guest, join in the discussion on BankSA Amplify Platinum Visa card