Credit Card Benefits
Looking for a simple, secure way to make everyday payments?
Or maybe just a little help with a big purchase?
A Credit Card offers a convenient line of credit, helping you make worldwide purchases, cash free.
What are the benefits of a Credit Card?
Card Members could enjoy purchase protection, boosted buying power and more. Whether you’re set on building your credit score, extending your cashflow or want to get more out of your spending, there may be a Card to suit your lifestyle.
Use a Credit Card to build credit
When you use a Credit Card well, you could show lenders you’re financially responsible. Using your Card regularly and making repayments on time helps you build your credit and create a strong credit score.
Boost your spending power
Used responsibly, a Credit Card can help you increase your spending power. That means, when it comes to making big-ticket purchases, you can pay back the balance over time in manageable monthly instalments. Interest charges will apply if you don’t pay the closing balance in full each month. What’s more, those larger transactions earn you rewards points, so you can enjoy even more great Credit Card benefits.
Benefit from Credit Card rewards
Earning rewards each time you spend is a popular benefit offered with some Credit Cards.
With an American Express® Rewards Card, you can earn rewards points on purchases. Membership Rewards points can be redeemed for holidays, shopping, or even special experiences like theatre or gig tickets.
- Collect Frequent Flyer Points
Earn Frequent Flyer points on every purchase with our Travel Rewards Credit Cards. These can be redeemed for flights, hotel bookings and car hire. Some Credit Cards even offer luxury benefits, such as travel insurance and complimentary lounge access.
If you choose a Velocity or Qantas Frequent Flyer Card by American Express you will earn Velocity or Qantas Frequent Flyer points which are automatically transferred to the respective Frequent Flyer Program.
American Express Cards are the ultimate travel companion – accepted across the globe and improving your travel experience, wherever you’re going.
Feel secure with Credit Card protection
At American Express, we’re dedicated to keeping you safe. Online safety protection, fraud alerts and Account monitoring mean you can shop confidently, knowing we’ve got your back.
Some cards also offer 90-day Card Purchase Cover1, so you can rest assured we’ll reimburse you if your eligible item is stolen or damaged within 90 days of purchase.
Benefit from Credit Card insurance
Selected American Express Cards come with domestic and international Travel Insurance, Card Purchase Cover, and Smartphone Screen Cover1.
Find out more about complimentary Credit Card insurance and what insurance is included with your American Express Card.
Learn how to make the most from Credit Cards
Make your Credit Card work for you. Manage your finances, earn rewards and build a positive credit history with these smart tips and ways to use your Credit Card.
Find out how from here.
Disadvantages of owning a Credit Card
Keeping on top of your Account is key to making the most of your Credit Card’s benefits. Spending more than you have, missing payments and neglecting your Account could result in disadvantages such as:
The possibility of getting into debt
If you don’t use your Card responsibly, you might end up spending more than you usually would and piling up Credit Card debt that “you’re unable to pay off.”: Learn how to use a Credit Card responsibly and stay on top of your Credit Card bill.
Additional fees and charges
Depending on your type of Card there may be extra charges if you miss a payment, withdraw cash or exceed your credit limit. Remember to repay your monthly balance regularly and on time to avoid interest rates on borrowed money.
A negatively impacted credit score
Missed payments resulting in additional charges can damage your credit rating and your borrowing power in the future. Set up Direct Debits to stay on top of your repayments and improve your credit score.
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From money-saving ideas to travel inspiration and daily life tips, get inspired to do great things and make your life more rewarding.
Find the right Credit Card to suit your lifestyle
Discover more about our range of Cards – including Charge Cards and Credit Cards – and find out more about how to apply here. If you are still unsure what Card best suits your needs, explore more on the differences between a Credit Card and a Debit Card and how they differ from Charge Cards.
Take a look at how to choose the best Credit Card for your lifestyle for further advice.
- American Express Card Insurance. American Express Card Insurances are underwritten by Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL No. 239687) under a group policy of insurance held by American Express Australia Limited (ABN 92 108 952 085, AFSL No. 291313). Access to this insurance is provided solely by reason of the statutory operation of section 48 of the Insurance Contracts Act 1984 (Cth). Card Members are not a party to the group policy, do not have an agreement with Chubb and cannot vary or cancel the cover. American Express is not the insurer, does not guarantee or hold the rights under the group policy on trust for Card Members and does not act on behalf of Chubb or as its agent. American Express is not an Authorised Representative (under the Corporations Act 2001 (Cth)) of Chubb.