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American Express Credit Cards Review

We explain the fees, interest rates, membership rewards points, perks, benefits, pros and cons.
Updated 28 May 2025

​American Express offers a number of Airpoints and travel-related rewards credit cards. Unlike VISA and Mastercard, which are offered through banks and finance companies like GEM and FlexiGroup, American Express provides cards directly. This means your customer service, billing and disputes will be direct with American Express and not a bank or third party. 

In this guide, we look at pros and cons of having an American Express credit card, as well as outline what we consider to be the best options offered. Our guide covers:
Know This: Our guide to the Best American Express Credit Cards has more information about the cards available.

Read this First
  1. Our guide has been written to appeal to appeal to anyone looking for a good value credit card that offers rewards.
  2. Rewards will either be in Airpoints Dollars, or Membership Rewards points. What you earn depends on the card you choose and how much you spend.
  3. Our guide is informational only, and does not constitute financial advice. 
  4. As stated above, American Express credit cards are provided directly by American Express. This means cards are not available through banks or other finance companies.
  5. Are you a business owner? You can now use your AMEX to pay IRD and ACC bills using RewardPay. Our review explains how it works, what it costs and what benefits you will earn.

Advertising Disclaimer: We may receive payment if you sign up for a credit card via MoneyHub - please read our advertising policy for more details. 

​Update: For the American Express Airpoints Platinum card, the current $59 spend = 1 Airpoints Dollar rate is valid until 2nd October 2024. From 3rd October 2024, the rate will change to $70 spend = 1 Airpoints Dollar. For the purposes of this guide, we have used the 1:70 rate.

MoneyHub Founder Christopher Walsh shares his views about American Express Credit Cards:

Banks (arguably) offer credit cards aggressively to their customers, but my view is that these cards don't deliver the value offered by American Express. American Express cards stand out by way of their Airpoints, rewards and cashback-earning, exceeding any other bank-issued card. However, as with any credit card, all the benefits are lost if you don't pay the balance in full every month.

Whatever you decide, make sure it's the best for your immediate needs. There's no point getting a card "for later," as you'll either overpay and/or get the wrong rewards. For this reason, we've explained the cards in detail to help your decision-making process. If you are in any doubt about what you can afford, it's likely that the best credit card is "no credit card".
Christopher Walsh
MoneyHub Founder

American Express Credit Cards - Pros and Cons

Pros
  1. New Zealand's Highest Airpoints Dollar earning rate - $70 for 1 Airpoints Dollar, earned on the Airpoints Platinum Card, outperforms all other Air New Zealand credit cards
  2. Travel perks – some cards offer free travel, travel insurance and sign-up bonuses
  3. Favourable Customer Dispute Terms – if you experience fraud or wish to question a transaction, American Express will actively fight in your corner.
  4. Customer Service – With American Express you have a direct line, but if you use Visa and Mastercard you’ll have to deal with your bank. Most New Zealand banks use a multi-option call centre for credit card help with standard office hours. Any troublesome issues may be ‘referred’ to Visa or Mastercard for ‘review’ and 'decision'. American Express operates specific 0800 hotlines which are open 24/7 and makes decisions directly.
  5. Apple Pay - you can load your AMEX Card to the Apple Pay app on your iPhone to make effortless transactions in-store, in-apps, or on websites.
  6. Cards are increasingly accepted at major New Zealand retailers – You can use your card at Countdown, New World, PAK'nSAVE and other supermarkets. Other retailers include most petrol stations and airline websites. 
  7. American Express Membership Points - if your card earns points, there are dozens of partners and reward options
  8. Excellent benefits for the American Express Airpoints Platinum card – The $195 annual card fee comes with four lounge passes (two in Auckland International Airport, two for either Sydney International Airport or Melbourne International Airport). It also offers the highest Airpoints earning ratio; 1 Status Point per $250 spent. Add on free travel insurance, and it’s arguably a useful card to have.
  9. Low membership fees with valuable benefits – most cards are competitively priced with their Mastercard and VISA counterparts but offer a lot more.
  10. A No-Fee Option with Travel Benefits – The American Express Airpoints Card offers 1 Airpoints Dollar for every $100 spent and a signup bonus and doesn't charge an annual fee.

Beyond the standard benefits, a MoneyHub user highlights ongoing cashback promotions:
"One great benefit I've noticed with AMEX is their regular cashback promotions. Over the past six months, I've received $75 in cashback - $25 from a Shop Small promotion (5 x $5 credits) and $50 from a Sony/AMEX promotion. While it's not massive, it helps offset the annual fee. The key is to register for each promotion as they become available, which I've made a habit of doing. It's a nice surprise when those small credits appear on your statement".

Cons
  1. Many non-chain retailers don’t accept it – unlike Mastercard and Visa, which is primarily due to the high merchant fee Amex charges and favourable cardmember terms when disputes are raised.
  2. Membership points partnerships – if you don’t spend at least $20,000 a year, a points-earning card would struggle to offer value.

Our guide to the Best American Express Credit Cards has more information about the cards available.
MoneyHub's Top Two Reliable AMEX cards - apply in minutes for a credit card that delivers the best value for money based on your needs:
  • Our research highlighted two leading AMEX cards that reliably and consistently reward New Zealanders, with a number of benefits, perks and award earning opportunities.
  1. Our pick for earning Airpoints (most popular): The American Express Airpoints Platinum Card - $195/year fee. You'll also get 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only.
  2. Our pick for a free card (no annual fee): The American Express Airpoints Card - $0/year (50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only).
  3. Apply in only a few minutes, and there is no obligation to have a credit card issued. 
  • Important: MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. The majority of credit cards, with AMEX being no exception, charge interest rates that can make repayments challenging to manage.

American Express Membership Rewards Points Review

Membership Rewards is American Express' awards program. You earn different numbers of points depending on where you spend. These points can be redeemed for vouchers from supermarkets, travel agents and online. You can also transfer the points to a number of frequent flyer programs.

For example, if a card earns 2 points for every $1 spent, $8,000 spent at Petrol Station Partners = 16,000 Membership Reward Points. This converts to:
  • $100 Bunnings Gift Card (1.26% reward value)
  • $100 New World Voucher (1.26% reward value)
  • 107 Air New Zealand Airpoints Dollars (1.34% reward value)

Membership Rewards - Our Thoughts:
  • If you spend $200 to $300 a week on groceries and petrol, the rewards are significant, and the flexibility of reward options makes the points useful.
  • Our view is that it's one of the best reward schemes available, when compared to the reward schemes offered by a number of New Zealand banks.
  • However, if you are looking for an Airpoints earning card, the American Express Airpoints Platinum Card ($70 spend = 1 Airpoints Dollar - 1.43% reward rate) offers better earning than Membership Rewards. This is because only partner supermarkets offer generous Membership Reward points, unlike an Airpoints credit card which doesn't discriminate.
  • Any American Express Airpoints-branded credit card will not earn Membership Rewards Points - instead, you'll earn Airpoints directly.
  • You can read more about Membership Rewards Points here.

Airpoints Dollars vs Membership Rewards points - What's the Difference?

AMEX cards earn one or the other, so choosing a card that meets your reward preferences is essential. Here's the difference:

Airpoints Dollars™
  • This is the currency of the Air New Zealand Airpoints™ program. For every dollar you spend on eligible flights and services with Air New Zealand or their partners, you earn Airpoints Dollars. Think of them as virtual currency that can be redeemed for flights, upgrade bids and various other travel and non-travel-related products.
  • They essentially work like cash; for instance, if you have 100 Airpoints Dollars, you can apply them towards a flight that costs $100 without spending additional money. 
  • More details: Our guide to spending Airpoints Dollars has more details. 

Membership Rewards points
  • These points are part of American Express's Membership Rewards® program, a versatile loyalty currency you can earn through eligible Amex credit cards. These points can be redeemed for various rewards, including travel, shopping, statement credit, dining, and entertainment.
  • What makes these points particularly appealing is their flexibility - you can transfer them to multiple airline and hotel partners, book travel directly through the Amex portal or even use them to shop online.
  • More details: Our guide to spending Rewards Points has more details. ​

Must-Know Terms - Your Card's Interest Rate and Status Points

Know This: When dealing with credit cards and loyalty programs, you often come across specialised financial terms. It's important to understand these terms to make informed decisions.

Interest Rate: This is the cost of borrowing on the card if you don't pay it off monthly. The interest rate is expressed as a yearly rate and includes fees and costs associated with the transaction. It's important to know the interest rate because any balances carried beyond the grace period will accrue interest at this rate.

Status Points: These are different from the Airpoints Dollars or Membership Rewards points. Status Points are earned alongside these rewards and count towards your tier status in a loyalty program, e.g. Air New Zealand Airpoints or Qantas Frequent Flyer. For example, with flight programs, more Status Points mean a higher membership tier, which often grants access to exclusive benefits like lounge access, priority boarding, and additional baggage allowances. These points are a key part of airline loyalty programs as they incentivise frequent travel and brand loyalty.

Understanding these terms will help you navigate the complexities of reward programs and make the best choices for your financial and travel plans.

Best American Express Credit Cards

From the five American Express credit cards offered, we've shortlisted those that stand out:

Best Card for Airpoints: The American Express Airpoints Platinum Card

Basics:
​Annual Fee: $195
Airpoints or Membership Rewards? Airpoints
Annual percentage interest rate: 22.95% p.a.
Interest Free Period: up to 55 days
Bonus Offer: 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only.
Read more: Airpoints Platinum Review

​Benefits:
  • Every $70 you spend = 1 Airpoints Dollar, and $250 spend = 1 Status Point
  • Complimentary Domestic and International Travel Insurance
  • Four lounge passes per year (two in Auckland Airport, two for either Sydney or Melbourne)
  • ​Complimentary Mobile phone screen insurance (if you used your AMEX to pay for the phone, up to repair costs of $500)

Learn more or apply

Best Free Card for Airpoints: The American Express Airpoints Card

Basics:
​Annual Fee: $0
Airpoints or Membership Rewards? Airpoints 
Annual percentage interest rate: 0% p.a. for the first 6 months then 22.95% p.a.
Interest Free Period: up to 55 days
Bonus Offer:  50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only.

​Benefits include:
  • The only No Fee option to earn Airpoints Dollars offered in New Zealand
  • A reasonable earning rate of 1 Airpoint per $100 spent
  • No supplementary card fee

Learn more or apply

Best Card for Diners: The American Express Gold Rewards Card

Basics:
​Annual Fee: $200
Airpoints or Membership Rewards? Membership Rewards
Annual percentage interest rate: 22.95% p.a.
Bonus offer: $200 statement credit when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only. 
Earn Membership Rewards: The Gold Card earns at a rate of 2 points for every $1 spent. You can use Membership Reward points to pay for travel with American Express directly, or you can convert them to other airline and hotel programs. As a background, 150 Membership Rewards points = 1 Air New Zealand Airpoints Dollar while 2 Membership Rewards points = 1 Qantas Frequent Flyer Point.

Read more: American Express Gold Rewards Card Review

​Benefits include:
  • Two $100 dining credits every year - American Express has a number of dining partners throughout New Zealand. If you visit them and spend over $100 on one bill, you’ll get $100 credited to your statement. The dining credit resets every six months. The participating restaurants are located all over New Zealand, although Auckland, Wellington and Queenstown have the widest choices.
  • There is no supplementary card fee.

Learn more or apply
MoneyHub's Top Two Reliable AMEX cards - apply in minutes for a credit card that delivers the best value for money based on your needs:
  • Our research highlighted two leading AMEX cards that reliably and consistently reward New Zealanders, with a number of benefits, perks and award earning opportunities.
  1. Our pick for earning Airpoints (most popular): The American Express Airpoints Platinum Card - $195/year fee. You'll also get 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only.
  2. Our pick for a free card (no annual fee): The American Express Airpoints Card - $0/year (50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only).
  3. Apply in only a few minutes, and there is no obligation to have a credit card issued. 
  • Important: MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. The majority of credit cards, with AMEX being no exception, charge interest rates that can make repayments challenging to manage.

Applying for an American Express Credit Card

To apply for any American Express credit card, you will need to:
  1. Be over 18 years of age.
  2. Have a good credit history.
  3. Be a permanent resident or citizen of New Zealand.
  4. Meet the minimum income criteria for your chosen Card.
  5. If you are self-employed, you will need to have been trading for at least 18 months, or 12 months if you have an existing American Express issued Card.

You will need to provide:
  1. A copy of your New Zealand driver’s licence (if you hold one)
  2. Personal information, including your current address details.
  3. A current email address and a mobile or landline number.
  4. Financial Information including your annual income, household income (if married/de facto), monthly living expenses, employment details, superannuation (if retired), or other sources of income.
  5. Details about any other credit cards and loans you have and their balances.

Final steps:
  1. American Express will perform a credit check to assess your financial history
  2. After that, American Express will assess your credit card application and provide a response in between 5 and 10 working days from when you submit your application.

Credit Cards vs Charge Cards - What's the Difference?

  • Our review of American Express credit cards only looks at credit cards, however some AMEX cards are charge cards.
  • Charge cards look and behave like a credit card, but it doesn’t charge interest if you pay the balance late. Instead, a late fee is charged, which could be  around $20 or 3.25% of the balance, whichever is the greater (as per cards promoted in the past).
  • This means if you spend $5,000 and don’t make the repayment by the due date, you’ll be charged a whopping $162.50, which will be added to the balance. You’ll continue to pay the late fee every month until the balance is cleared.
  • Charge cards are designed to be paid off immediately, much like store cards from Farmers, and the Q Card are. Charge cards don’t offer 0% interest balance transfers or other low-rate promotions.

Five Must-Know American Express Credit Card Facts:

​Selecting a Membership Rewards Points or Airpoints American Express needs consideration

  • If you fly Air New Zealand at least once a year and will spend at least $1,000 a month on the card, the American Express Airpoints Platinum Card pays for itself. You’ll get benefits like free travel insurance and lounge passes thrown in too.
  • If you don’t fly that often and don’t spend a regular amount on a credit card, the American Express Airpoints Card still rewards you. Best of all, it doesn’t charge an annual fee.

Our view:
  1. For anyone looking for an awards credit card, American Express Airpoints Platinum Card is a strong offering.
  2. As an example, spending an average of $2,500 per month will earn you over 500 Airpoints dollars per year with the American Express Airpoints Platinum Card.

When dealing with credit cards and loyalty programs, you often come across specialised financial terms. It's important to understand these terms to make informed decisions

Interest Rate: This is the cost of borrowing on the card if you don't pay it off monthly. The interest rate is expressed as a yearly rate and includes fees and costs associated with the transaction. It's important to know the interest rate because any balances carried beyond the grace period will accrue interest at this rate.

Status Points: These are different from the Airpoints Dollars or Membership Rewards points. Status Points are earned alongside these rewards and count towards your tier status in a loyalty program, e.g. Air New Zealand Airpoints or Qantas Frequent Flyer. For example, with flight programs, more Status Points mean a higher membership tier, which often grants access to exclusive benefits like lounge access, priority boarding, and additional baggage allowances. These points are a key part of airline loyalty programs as they incentivise frequent travel and brand loyalty.

Understanding these terms will help you navigate the complexities of reward programs and make the best choices for your financial and travel plans.

The 'Low Rate' credit card option won't earn any points or rewards

Low-interest rate credit cards are designed to appeal to those who may not be able to pay the balances regularly. If you are confident in paying off credit card bills every month, low rate cards may not be for you.

American Express cardholders are offered curated tickets via ‘American Express Experiences’

Generally, American Express states that for certain concerts and events, cardholders have access to ‘the best-reserved tickets’.

To earn Airpoints, you’ll need to be a member of the Air New Zealand program

It’s free to join, and there is no annual fee. If you book domestic flights, there are no additional taxes or fees to pay either. If you book an international flight, you will have to pay these additional fees in cash (i.e. card or bank payment).
MoneyHub's Top Two Reliable AMEX cards - apply in minutes for a credit card that delivers the best value for money based on your needs:
  • Our research highlighted two leading AMEX cards that reliably and consistently reward New Zealanders, with a number of benefits, perks and award earning opportunities.
  1. Our pick for earning Airpoints (most popular): The American Express Airpoints Platinum Card - $195/year fee. You'll also get 300 bonus Airpoints Dollars when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only.
  2. Our pick for a free card (no annual fee): The American Express Airpoints Card - $0/year (50 bonus Airpoints Dollars when you apply, are approved and spend $750 on your new Card within the first 3 months. New Card Members only).
  3. Apply in only a few minutes, and there is no obligation to have a credit card issued. 
  • Important: MoneyHub suggests that anyone unable to pay off a monthly credit card balance should look for an alternative source of credit. The majority of credit cards, with AMEX being no exception, charge interest rates that can make repayments challenging to manage.
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