Review: BankSA Amplify Platinum Visa card

Introduction

With 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.

With a card fee of just $99 (for Qantas), or $49 first year for Amplify ($99 thereafter), it 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 on eligible purchases.
• Amplify Points earned per A$1 spent (Amplify Rewards): 1.0 on eligible purchases.
• 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: From 1 January 2022, earn 0.5 Qantas Points per $1 up to a maximum of $100,000 spent on eligible purchases annually. Bonus Qantas Bonus Qantas Points not included in the cap.

Bank disclaimer: Eligible purchases do not include interest, fees and charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account.

BankSA Amplify Platinum card: fees, charges and interest

• Annual fee: $99 (for Qantas) card fee, or $49 first year card fee for Amplify ($99 thereafter)
• 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: 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 60,000 bonus Qantas Points when you apply by 30 June 2022 and spend $3,000 on eligible purchases within 90 days.

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.

Through the Amplify Rewards path, you could also earn 130,000 bonus Amplify Points when you apply by 30 June 2022 and spend $3,000 within 90 days. Choosing Amplify Rewards also gives you a $50 discount on your first year annual fee, bringing it down to $49.

Although some other cards in the market award more points on spends up to a certain amount every month, the Amplify Points option is an uncapped card with a sub-$100 annual fee. From 1 January 2022, the Qantas Points option will be capped beyond $100k annual spend, however this is still a relatively high card spend.

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

A first year card fee of just $99 (for Qantas), or $49 first year for Amplify ($99 thereafter) 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 (under $100k annually for the Qantas option), 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.