BankSA Amplify Platinum Visa card

Review: BankSA Amplify Platinum Visa card

What's Hot

  • Low $99 annual fee
  • No points capping

What's Not

  • Everyday points earn rate could be higher

X-Factor

  • 50,000 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 50,000 bonus points for eligible new customers, there's a lot to like about BankSA's Amplify Platinum Visa credit card.

Costing just $99/year, or even $0 in the first year with Amplify Points (details below), this 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's Amplify Platinum cards have to offer.

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

  • Annual fee: $99 (currently waived in the first year when selecting Amplify Points)
  • Additional/supplementary cardholder fee: $0
  • Interest rate on purchases: 19.49% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 20.24% p.a.
  • International transaction fee: 3.0%
  • Minimum income requirement: No defined minimum
  • Minimum credit limit: $6,000

Earning points for free flights: 3/5

Start your journey with a bonus 50,000 Qantas Points (via the Amplify Platinum card with Qantas Points) or 50,000 Amplify points (equal to 25,000 Velocity, KrisFlyer or Enrich miles via the Amplify Platinum card with Amplify Points) when you apply by January 23 2019 and spend at least $2,000 on purchases within 90 days of card approval.

With Qantas, that's more than enough points for a return economy class trip from Sydney to Jakarta (22,500 Qantas Points each way, plus a monetary payment on the side to cover taxes, fees and carrier charges), while with Velocity when converting from Amplify Points, those could get you a return "Zone 2" flight with Virgin Australia on routes like Brisbane-Melbourne and Sydney-Hobart, at 11,800 Velocity points each way.

BankSA's card also provides you with the equivalent of 0.5 frequent flyer points for every $1 spent, regardless of the rewards variant you choose and with no points capping, so although some cards 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.

Take out the Amplify Platinum card with Amplify Points and you'll also pay no annual fee in the first year ($99 thereafter), although an annual fee is payable in the first year if earning Qantas Points.

With no fee for having an additional cardholder on the account either, you could choose to share the card account with your partner, paying only the one annual fee (or even with a waived fee through Amplify Points), while earning rewards on all your combined spends.

Airport lounge access: 0/5

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: 3.5/5

This is where the Amplify Platinum credit card can easily pay for itself, offsetting its $99 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 makes this card both affordable and approachable, without requiring a high income to apply: even better when that fee is waived in the first year on the Amplify Platinum card with Amplify Points.

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 a 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 a senior journalist with Australian Business 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!
 

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18 Jan, 2019 11:26 am

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