Review: BankSA Amplify Platinum Visa card

Choose to earn Qantas Points straight into your Frequent Flyer account, or pile up Amplify Points and convert to other airlines.

Overall Rating

By Chris Chamberlin, September 22 2020
BankSA Amplify Platinum Visa card
Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

FF Program

Amplify Qantas, or Amplify Rewards (convert to Velocity, KrisFlyer, Enrich)

Sign Up Bonus

70,000 Qantas Points, via Amplify Qantas

Annual Fee

$99 ($0 first year with Amplify Rewards)

Interest Rate

19.74% p.a. on purchases
21.49% p.a. on cash

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 choosing Amplify Qantas
Fees and interest
Points earned
Lounge access
Overall

Introduction

With no limit to the number of points you can earn every month or year, access to multiple 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 choosing Amplify Qantas, there's a lot to like about BankSA's Amplify Platinum Visa credit card.

Costing just $99/year ongoing (and $0 in the first year via the Amplify Rewards path – more on that below), 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 Points earned per A$1 spent (Amplify Rewards): 1.0
  • 1 Amplify Point ($1 spent) = 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

  • Annual fee (with Amplify Qantas): $99 (first and subsequent years)
  • Annual fee (with Amplify Rewards): $0 first year, $99 thereafter
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases (with Amplify Qantas): 19.74% p.a.
  • Interest rate on purchases (with Amplify Rewards): 0% p.a. for 7 months, then 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 card and you could earn 70,000 bonus Qantas Points when you apply by February 9 2021 and spend $1,500 on eligible purchases each month for three months.

Or, select the Amplify Platinum card with Amplify Points to earn points that can be converted across to Virgin Australia Velocity, Malaysia Airlines Enrich or Singapore Airlines KrisFlyer.

The Amplify Rewards path doesn't currently offer any bonus points, but does come with a 0% p.a. interest rate on purchases for 7 months (reverting to the applicable variable purchase rate after that time), and with no annual fee in the first year ($99 thereafter).

There's also an offer of 0% p.a. for 22 months on balance transfers requested at card application. A 1.5% balance transfer fee applies, and after those 22 months, the rate switches to the variable cash advance rate.

Regardless of the rewards path you choose, and 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 (or no annual fee in the first year, with Amplify Rewards) 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.

However, if choosing the higher-tier BankSA Amplify Signature card with Amplify Points, you'd be eligible for a complimentary Priority Pass lounge membership with two yearly visits included.

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.

Restrictions to this cover may apply during the COVID-19 pandemic. For further information or to confirm whether your intended journey is covered by this policy, speak directly with the card issuer or insurance underwriter.

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 $0 in the first year when choosing the Amplify Points option) 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


Bank disclaimer: ^If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.

Disclaimer

Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller, and lives by the motto that a journey of a thousand miles begins not just with a single step, but also a strong latte, a theatre ticket, and later in the day, a good gin and tonic.


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