Credit Card Review: American Express Airpoints Platinum

We review NZ's highest-earning Airpoints credit card, featuring free insurance, lounge passes and other perks

Updated 17 October 2019
​Who Is The AMEX Airpoints Platinum Card For?
  • The card will appeal to anyone looking to spend big and earn Airpoints Dollars and status points. For starters, you’ll need to have a personal gross (pre-tax) annual income of $65,000 or more.
  • Big spenders also need to budget for payments. With an interest rate hovering around 20%, paying the balance in full every month is essential.
Summary:

Welcome Bonus and Annual Fee

  • If you spend $1,500 or more within the first three months, you’ll earn 200 bonus Airpoints Dollars.
  • With an annual fee of $195, it’s also in line (although at the higher end) of other Airpoints Platinum credit cards.
  • The benefits of complementary mobile phone screen damage insurance and four lounge passes are unique to the card, and give additional value to the offering.

Earning and Redeeming Airpoints

Earning
  • ​At $59 for 1 Airpoints Dollar, the credit card outperforms all other Air New Zealand credit cards.
  • Unlike the Membership Rewards Program which offers more points for supermarket spending, you’ll earn Airpoints at the same rate wherever you spend.
  • As a point of comparison, if you spend $15,000 on your card, you’ll earn 254 Airpoints Dollars. The same spend on the Kiwibank Platinum credit card will earn 200 Airpoints Dollars. 

Redeeming
  • Airpoints are directly credited to your Air New Zealand Airpoints account. If you’re not a member, you’ll need to sign up first.
  • Airpoints don’t expire, and there’s no annual Airpoints membership charge. This means you’ll have unlimited time to build up your Airpoints balance.

American Express Credit Card Perks

1. Complimentary Lounges Passes

​American Express Airpoints Platinum Card Members are entitled to four lounge passes per calendar year (1 January to 31 December) which you can use locally and overseas. The entitlement includes:
  • Two American Express Lounge Entries in Australia: Children between the ages of 2-17 are permitted free of charge. Additional guests may be subject to a charge that is to be processed on the Card Member's American Express Card.
  • Two Priority Pass lounge passes: This includes over 1,200 locations worldwide, with Auckland, Christchurch and Queenstown all offering international lounges.
​

2. Complimentary Travel Insurance

To be eligible, you must use your American Express Airpoints Platinum Card to pay for your return airfare for the insurance to be valid.

Perks include:
  1. Complimentary cover for you, your partner and children under the age of 22 years.
  2. Overseas Medical Emergency Expenses Cover of up to $2,500,000 in cover (including repatriation to New Zealand).
  3. Personal Liability Cover up to $2,000,000.
  4. Travel Inconvenience Cover - flight delays, missed connections or delayed luggage
  5. Travel Cancellation Cover - up to $30,000
  6. Baggage, Money and Documents Cover- up to $30,000
  7. Rental Vehicle Excess Cover - up to $3,000 as the result of a collision, or theft, of a rental vehicle while in your control

Be aware:
  1. Redeeming Airpoints for overseas travel? Your insurance may not be activated. If, for example, you go away to Australia using Airpoints Dollars, you may need to buy a separate travel insurance policy.
  2. Excesses may apply for some benefits. Generally, this will be between $50 and $250 per claim.
  3. A Supplementary Cardmember won’t be covered unless travelling with the primary cardholder. If you order a card for your partner and he/she travels, most of the benefits won’t apply. In such circumstances, you may need to buy a separate travel insurance policy.

3. Complimentary Smartphone Screen Insurance

​Unique to American Express, the Airpoints Platinum Card offers screen protection for damaged phones. This is arguably one of the major perks of the credit card.

How does this work?
  1. You can make a maximum of two claims per 12-month period, with a maximum cover of $500 per claim.
  2. You’ll need to pay an excess of 10% of the claimed amount. As an example, if your repair bill was $300, you would be reimbursed $270 and pay $30 yourself.
  3. Be aware: The policy is not phone insurance, which is far more comprehensive, so you won’t be covered if you lose or damage your phone.

4. Complimentary Purchase Protection Cover

The American Express Airpoints Platinum provides excellent purchase protection. If you purchase an eligible item on the card and it’s accidentally damaged or stolen within 90 days, American Express will reimburse you for the amount you paid for the item. The limit is up to $3,500 per item and $30,000 per year. There is a $50 excess per claim, with specific exclusions including:
  1. Any items left unattended in a public place or
  2. Theft of or damage to items in a vehicle or
  3. Theft of or damage to jewellery or watches in baggage unless carried by hand by you (or someone known to you) or
  4. Theft of or damage to cash, tickets or negotiable instrument, animals, living plants, perishable goods or
  5. Theft of or damage to electronic items and equipment, i.e. phones and computers/laptops from your place of work
 
Claiming
  • You must provide American Express with copies of invoices and/or receipts relating to the item to prove the item was charged to your American Express Airpoints Platinum Card and
  • For all claims, you’ll need to have reported the lost or stolen to the police within 48 hours (if you don’t have a police report)

5. Earning Status Points

If you’re looking to achieve Air New Zealand status, you can earn a maximum of 225 and 450 status points from credit cards for Silver or Gold respectively. This means you would need to spend $56,250 and $112,500 in 12 months, in addition to taking qualifying flights. As one MoneyHub user explains:

"I’ve had the Amex Airpoints Platinum Card for two years. Due to the nature of my work, I chargeback a lot of expenses so comfortably spend around $8,000 a month. I earned Star Alliance Gold from one flight to London, which was a cheap business class deal with Air China. Earning over $1,500 Airpoints Dollars each year and having all these perks makes this card a winner".
- Mike, Auckland

6. Discounted Koru Club Membership

​Airpoints Platinum Cardholders save $255 on the Koru joining fee and receive an annual fee discount ($145) for as long as they hold the Card.

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Summary and Conclusion

  • There’s a lot to like about this Airpoints credit card. It is arguably the most feature-packed, publicly available credit card in New Zealand. And, best of all, it is priced at an affordable $195/year.
  • The annual fee can be offset by the value of the Airpoints Dollars joining bonus and the travel insurance benefits. The generous screen-protection and purchase protection cover.

Which Airpoints Cards Compete With the American Express Airpoints Platinum Card?

Despite American Express offering New Zealand's most benefits-heavy Airpoints credit card, there are alternatives. Popular alternatives include:
  1. Kiwibank Air New Zealand Airpoints Platinum Visa
  2. ANZ Airpoints Visa Platinum

Know this: We don't believe either of the above cards offer the value for money and benefits of the American Express  Airpoints Platinum card.
  • If you think you’ll spend at least $10,000 a year on a credit card and travel overseas at least once, the card pays for itself.
  • Ready-to-use lounge passes (without the need to spend $30,000 like Kiwibank and ANZ require), in addition to smartphone screen insurance, are perks exclusively offered by American Express.

Three Must-Know American Express Platinum Credit Card Facts

American Express Airpoints Platinum Credit Card Pros and Cons

​Pros:
  1. It’s official – the Airpoints Platinum offers New Zealand's Highest Airpoints Dollar earning rate – $59 for 1 Airpoints Dollar outperforms all other Air New Zealand credit cards.
  2. 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.
  3. Favourable Customer Dispute Terms – if you experience fraud or wish to question a transaction, American Express will actively fight in your corner.
  4. 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.
 
Cons:
  • A number of non-chain retailers don’t accept American Express as a payment method. 

Understand the Difference in Airline Lounges

  • Airpoints credit cards that offer airline lounge passes have limitations if they can only be used in Air New Zealand facilities. This is the case for the Kiwibank and ANZ Platinum Airpoints credit cards. 
  • Firstly, you’ll need to spend $30,000 to earn two lounge passes. Once issued, they are increasingly difficult to use within New Zealand airports. There are regular media reports about pass holders being unable to use their passes. Peak times include 4pm to 8pm, school holidays and mornings.
  • With the American Express Airpoints Platinum, the passes are far less time-sensitive, and we have not found any instances of cardholders being denied access.
  • A MoneyHub user explains:

“We had earned two Air New Zealand Koru lounge vouchers with our Kiwibank credit card and planned to use them before they expired. Recently, we were flying from Wellington to Christchurch one Friday evening.

We scanned our boarding passes and got a green light, but as we walked towards the chairs, we were told to leave because the lounge was reserved for ‘premium customers’. I said we’d already been scanned in but was told the vouchers had been refunded. I then said they expire next month, which they did, and was told them that nothing could be done. So that was that. I had spent a lot to get them, but it wasn’t to be.
Simon & Jenna, Wellington

The Foreign Currency Commission for non-NZD Transactions is 2.50%

A 2.50% Currency Conversion Commission applies to all American Express NZ credit cards. This means you’ll pay more when making foreign purchases than other credit cards. Airpoints-earning credit cards usually charge 1.85% to 2.50%. If the vast majority of your spending is in NZD, then there is little difference between other credit cards.
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