Highest points-earning American Express Credit Cards

American Express is a major card issuer in Australia and a popular choice for point hackers. Many choose Amex in search of a high sign-up bonus, great ongoing offers, high points earn or premium customer service. The trade-off? Amex charges higher fees to merchants, so acceptance isn’t as wide as with Visa and Mastercard. However, acceptance has improved greatly in recent years.

Most major retailers and a good selection of smaller independent shops do accept American Express cards. Many readers will also hold an Amex Card in conjunction with a (separate, unrelated) points-earning Visa or Mastercard to ensure no purchases get missed.

In Australia, American Express Card Members are able to earn points in three programs depending on the card type — American Express Membership Rewards, Qantas Frequent Flyer and Velocity Frequent Flyer.

Our table below shows the highest-earning American Express cards on offer, including the direct-earn rate for Qantas and Velocity Cards compared to the effective earn rate of the Membership Rewards cards.

The highest-earning American Express credit cards

Card	Earn Rate per $1	Points Cap	Annual Fee	Our Guide
Qantas Frequent Flyer
American Express Qantas Business Rewards Card ↓	1.25 Qantas Points on general spend* 2 Qantas Points with Qantas 0.5 Qantas Points per $1 on utilities, insurance and government spend * Points tiering will apply from the 2024 calendar year.	uncapped	$450 p.a.	Read Here
Qantas American Express Ultimate ↓	1.25 Qantas Points on general spend including utilities and insurance* 2.25 Qantas Points with Qantas 0.5 Qantas Points per $1 on government spend * Points tiering will apply from the 2024 calendar year.	uncapped	$450 p.a.	Read Here
American Express Platinum Card ↓	1.125 Qantas Points on all eligible spend, and 0.5 Qantas Points on spend at government bodies (Effective earn rate when transferred from MR Ascent Premium points)	uncapped	$1,450 p.a.	Read Here
American Express Platinum Business Card ↓	1.125 Qantas Points on all eligible spend, and 0.5 Qantas Points on spend at government bodies (Effective earn rate when transferred from MR Ascent Premium Points)	uncapped	$1,750 p.a.	Read Here
Qantas American Express Premium ↓	1 Qantas Point on everyday transactions 2 Qantas Points with Qantas 0.5 Qantas Points on government spend	uncapped	$249 p.a.	Read Here
American Express Qantas Discovery ↓	0.75 Qantas Points on general spend 1.75 Qantas Points with Qantas 0.5 Qantas Point on government spend	uncapped	$0 p.a.	Read Here
Velocity Frequent Flyer - Direct Earn
American Express Velocity Platinum ↓	1.25 Velocity Points on general spend 2.25 Velocity Points with Virgin Australia 0.5 Velocity Points on spend at government bodies	uncapped	$375 p.a.	Read Here
American Express Velocity Business ↓	1 Velocity Point on everyday spend 2 Velocity Points with Virgin Australia 0.5 Velocity Points on spend at government bodies	uncapped	$249 p.a.	Read Here
American Express Velocity Escape ↓	0.75 Velocity Points on general spend 1.75 Velocity Points with Virgin Australia 0.5 Velocity Points on spend at government bodies	uncapped	$0 p.a.	Read Here
Membership Rewards
American Express Platinum Card ↓	2.25 Amex MR Points on all eligible spend, and 1 MR Point on spend at government bodies	uncapped	$1,450 p.a.	Read Here
American Express Platinum Business Card ↓	2.25 Amex MR Points on all eligible spend, and 1 MR Point on spend at government bodies	uncapped	$1,750 p.a.	Read Here
American Express Explorer ↓	2 Amex MR Points on eligible spend, 1 Amex MR Point with government bodies	uncapped	$395 p.a.	Read Here
American Express Business Explorer ↓	2 Amex MR Points on eligible spend, 1 Amex MR Point on government bodies	uncapped	$149 p.a.	Read Here
American Express Gold Business ↓	1.5 Amex MR Points on eligible spend, 1 Amex MR Point on government bodies	uncapped	$169 p.a. + $80 p.a.	Read Here
American Express Platinum Edge ↓	1 Amex MR Point on eligible spend including utilities and ATO 2 Amex MR Points on foreign currency spend (overseas and online) 3 Amex MR Points at supermarkets and petrol stations	uncapped	$195 p.a.	Read Here

How do I use this list?

For all the cards and offers listed on this page, we are looking at two things:

• ‘Direct earn rates’ of cards that earn Qantas or Velocity Points on eligible spend, or
• ‘Effective earn rates’ of cards that earn points into the Membership Rewards flexible rewards program, but later allow transfers to other frequent flyer programs at varying rates.

The ‘effective earn rate’ is an important number that standardises the number of points you could earn with a Membership Rewards card. For example, the Amex Platinum Card earns 2.25 Membership Rewards points per $1 spent. But when converting these into Qantas Points for instance, at the program’s 2:1 rate, this makes its ‘effective earn rate’ 1.125 Qantas Points per $1 spent.

What do I need to consider in an American Express credit card?

In addition to the card’s usual earn rates, you should also consider:

• Unique benefits offered, such as shopping perks, complimentary insurance, travel credits or free return domestic flights.
• Any card sign-up bonuses for new users. Existing users usually have to go 18 months without holding an American Express product before being eligible for a sign-up bonus again.
• Whether the places you usually shop at accept American Express, and if any surcharges apply.
• Card annual fees and overall T&Cs.
• Google and Apple Pay capabilities, which are becoming increasingly useful.

A large signup bonus from American Express might be rewarding enough to help offset a lower earn rate or a higher annual fee on a card, so bear that in mind.

Each card offer and other information on this page should be up to date at the date of publication. However, please note that we update offers over time. If you need more information about comparing different cards, check out our overview table for detailed information on rewards.

What are the Membership Rewards partners?

American Express Membership Rewards is a flexible points program with many frequent flyer and hotel program partners. In most cases, the transfer rate is two MR points for one frequent flyer point or mile – except where we’ve shown a different rate below. The airline transfer programs are:

• Qantas Frequent Flyer (from limited cards only)
• Velocity Frequent Flyer
• Air New Zealand Airpoints (200:$1 transfer rate)
• Cathay Pacific Asia Miles
• Emirates Skywards (now a 3:1 conversion rate)
• Etihad Guest
• Hawaiian Airlines’ HawaiianMiles
• Hilton Honors
• Malaysia Airlines Enrich
• Marriott Bonvoy (3:2 transfer rate)
• Qatar Airways Privilege Club
• Singapore Airlines KrisFlyer (now a 3:1 conversion rate)
• Thai Royal Orchid Plus
• Virgin Atlantic Flying Club

Points transfers from Amex MR to Qantas Frequent Flyer are only possible for members at the Ascent Premium tier of Membership Rewards. This is usually only available for Card Members with Amex’s most premium products. For instance, the Platinum Card, Platinum Business Card and Centurion Card.

Current deals for American Express credit cards

Qantas Frequent Flyer

American Express Qantas Business Rewards

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• Sign-up Bonus: 170,000 bonus Qantas Points
• Rewards Earn Rate: Earn 2 Qantas Points per $1 spent on Qantas products and services, 1.25 Qantas Points per $1 spent on everyday business purchases, and 0.5 Qantas Points per $1 spent on government charges. After a total of 500,000 Qantas Points is earned in a calendar year, the everyday business earn rate will change from 1.25 to 0.75 Qantas Points per $1 spent.. 
• Annual Fee: $450 p.a. and up to 99 Employee Cards at no additional cost
• Offer expires: 8 April 2025

The American Express Qantas Business Rewards Card has 170,000 bonus Qantas Points on offer when you apply by 8 April 2025 and spend $6,000 on eligible purchases on your Card in the first 3 months of the approval date. The card earns Qantas Points on spend and is transferred automatically into the business' Qantas Business Rewards account offering more flexibility for business owners. T&Cs apply. New Card Members only.

Qantas American Express Ultimate

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• Sign-up Bonus: 50,000 bonus Qantas Points¹
• Rewards Earn Rate: 1.25 Qantas Points earned per $1 on eligible everyday purchases. 2.25 Qantas Points per $1 spent on selected Qantas products and services in Australia. 0.5 Qantas Point per $1 at government bodies in Australia. After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Point per $1 spent.. 
• Annual Fee: $450 p.a.
• Offer expires: 1 July 2025

The Qantas American Express Ultimate Card has 50,000 bonus Qantas Points¹ on offer for new American Express Card Members who apply by 1 July 2025. It’s one of the highest-earning Qantas Point cards and comes with a $450 Qantas Travel Credit³ each year plus a range of premium travel benefits. Eligibility criteria, minimum spend and T&Cs apply. New American Express Card Members only.

Qantas American Express Premium

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• Sign-up Bonus: 20,000 bonus Qantas Points
• Rewards Earn Rate: 1 Qantas Point earned per $1 spent on eligible purchases. 1 additional Qantas Point per $1 on selected Qantas products and services in Australia. 0.5 Qantas Points per $1 spent at government bodies in Australia. 
• Annual Fee: $249 p.a. annual fee

The Qantas American Express Premium Card has 20,000 bonus Qantas Points on offer for new American Express Card Members who apply online, are approved, and spend $3,000 on your new Card within the first 3 months of approval date. The card comes with 2 Qantas Club invitations each Card Member year and earns up to 2 Qantas Points per $ on eligible purchases.

Qantas American Express Discovery

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• Rewards Earn Rate: 0.75 Qantas Points per $1 spent on eligible purchases. 1 additional Qantas Point per $1 spent on selected Qantas products and services in Australia. 0.5 Qantas Points per $1 spent at government bodies in Australia. No cap on earn rate. 
• Annual Fee: $0 p.a.

The Qantas American Express Discovery is a great value entry-level Qantas card, with $0 Annual Fee, and offers an earn rate of up to 1.75 Qantas Points per $1 on spend.

Velocity Frequent Flyer

American Express Velocity Platinum

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• Sign-up Bonus: 100,000 bonus Velocity Points*
• Rewards Earn Rate: 1.25 Velocity Points earned per $1 on all eligible spend except for government bodies˜. 2.25 Velocity Points per $1 spent on selected Virgin Australia purchases˜. 0.5 Velocity Points per $1 on Government spend˜. 
• Annual Fee: $440 p.a.
• Offer expires: 30 April 2025

The American Express Velocity Platinum Card has 100,000 bonus Velocity Points* on offer for new American Express Card Members who apply by 30 April 2025 and spend $3,000 on eligible purchases within the first 3 months of approval. Includes several perks such as Virgin Australia Lounge Access^ every time you fly domestically with Virgin Australia, 2 VA Guest Lounge Passes⁼ each year and a Complimentary Domestic Return Virgin Australia Flightˢ. Terms, conditions and exclusions apply. New American Express Card Members Only.

American Express Velocity Business

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• Sign-up Bonus: 170,000 bonus Velocity Points
• Rewards Earn Rate: 1 Velocity Point per $1 spent on eligible everyday business purchases and 2 Velocity Points per $1 spent with Virgin Australia. 
• Annual Fee: $249 p.a. and $99 per Employee Card up to 99 cards
• Offer expires: 30 April 2025

The American Express Velocity Business Card is offering 170,000 bonus Velocity Points for new American Express Card Members who apply by 30 April 2025, are approved and spend $5,000 on eligible purchases on your new Card within the first 2 months of approval*. The card lets you access a line of unsecured funding with flexible spending power^ and offers business owners and sole traders up to 2 Velocity Points per dollar on purchases within Australia. T&Cs apply. Available for new American Express Card Members only.

American Express Velocity Escape Plus

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• Sign-up Bonus: 30,000 Velocity Points welcome bonus*
• Rewards Earn Rate: 1.75 Velocity Points per $1 spent on eligible Virgin Australia purchases˜. 1 Velocity Point per $1 on eligible everyday purchases˜. 0.5 Velocity Points per $1 on government bodies in Australia, including Australia Post and the Australian Tax Office˜. After a total of 12,000 Velocity Points is earned on your Velocity Escape Plus Card Account in a calendar year, your everyday earn rate will change from 1 to 0.75 Velocity Points per $1 spent on everyday purchases. 
• Annual Fee: $95 p.a.
• Offer expires: 30 April 2025

The American Express Velocity Escape Plus Card has 30,000 Velocity Points welcome bonus* and $50 Virgin Australia Statement Creditⁱ on offer for new American Express Card Members who apply by 30 April 2025, are approved and spend $1,000 or more on eligible purchases within the first 3 months from approval. The Card is aimed at budget-conscious points-hunters and earns Velocity Points on eligible spend with a $95 Annual Fee.

Membership Rewards

American Express® Platinum Business Card

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• Sign-up Bonus: 250,000 Membership Rewards Bonus Points*
• Rewards Earn Rate: Earn 2.25 Membership Rewards points per $1 on all eligible business purchases, except for spend with government bodies, for which you will earn 1 point per $1 spent. 
• Annual Fee: $875 in the first year (normally $1,750 p.a)*
• Offer expires: 27 May 2025

New American Express Card Members can earn 250,000 Membership Rewards Bonus Points in the first year* when you apply, are approved and spend $12,000 on eligible purchases on your American Express Platinum Business Card in the first 3 months of your approval date. Plus, enjoy a half annual Card fee of $875 (normally $1,750) in the first year. The Card is aimed at small and medium-size businesses who want to maximise their points earned, as well as business and travel benefits. Offer ends 27 May 2025. T&Cs apply.

American Express Platinum Card

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• Sign-up Bonus: 225,000 bonus Membership Rewards points
• Rewards Earn Rate: Earn 2.25 Membership Rewards points per $1 on all eligible purchases, except for spend with government bodies, for which you will earn 1 point per $1 spent. 
• Annual Fee: $1,450 p.a.
• Offer expires: 8 April 2025

The American Express Platinum Card is offering 225,000 bonus Membership Rewards Points¹ for new American Express Card Members who apply by 8 April 2025 and spend $5,000 on eligible purchases in the first 3 months of approval. It also comes with up to $400 in Global Dining Credit¹¹ per calendar year and a $450 annual Travel Credit⁵. A great card for those who want to earn Membership Rewards Points on everyday spend and transferable to over 10 major Airline Rewards Partner Programs⁸. T&Cs apply.

American Express Business Explorer

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• Sign-up Bonus: 50,000 bonus Membership Rewards Points
• Rewards Earn Rate: Earn 2 Membership Rewards Points per $1 spent on eligible business purchases except government bodies where you will earn 1 point per $1 spent. 
• Annual Fee: $149 p.a.

American Express is offering 50,000 bonus Membership Rewards Points for new American Express Card Members who apply for the Business Explorer Credit Card and spend $3,000 on eligible purchases in the first 3 months from approval. Benefits of this card include complimentary American Express lounge access plus a range of insurances and high points earn rates on spend.

American Express Explorer Credit Card

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• Sign-up Bonus: 100,000 bonus Membership Rewards Points
• Rewards Earn Rate: Earn 2 Membership Rewards points per $1 on all purchases except government bodies where you will earn 1 point per $1 spent. 
• Annual Fee: $395 p.a.
• Offer expires: 8 April 2025

American Express is offering 100,000 bonus Membership Rewards Points for new American Express Card Members who apply for the Explorer Credit Card by 8 April 2025, are approved, and spend $4,000 on eligible purchases within the first 3 months of the approval date. Includes $400 Travel Credit each year as a regular benefit, plus free access to The Centurion® Lounge at Sydney and Melbourne airports along with a range of insurances and high points earn rates on spend. T&Cs apply. New Amex Card Members only.

American Express Business Gold Plus Card

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• Sign-up Bonus: Earn 200,000 Membership Rewards Bonus Points
• Rewards Earn Rate: Earn 3 points per $1 spent at Xero, Google Ads, Meta, Amazon Web Services and Dell. Earn 2 points per $1 spent with AccessLine®. Subject to an application and approval process.. Earn 1.5 points per $1 spent on everyday spend, plus 1 point per $1 spent with government bodies, including the ATO.. Accelerated earn rates apply on the first 200,000 points earned per calendar year, then you will earn 1 point per $1 spend across all categories, uncapped and with no expiry.. 
• Annual Fee: $395 p.a.
• Offer expires: 25 March 2025

The American Express Business Gold Plus Card has 200,000 Membership Rewards Bonus Points on offer for new Amex Card Members who apply by 25 March 2025 and spend $5,000 on eligible purchases in the first 3 months of approval. It is a Metal Card that is feature-packed for those who want to earn Membership Rewards points on business-related spend. New American Express Card Members Only. T&Cs apply.

American Express Platinum Edge

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• Rewards Earn Rate: 3 Membership Rewards points earned per $1 spent at major supermarkets and petrol stations. 2 Membership Rewards points earned per $1 on overseas spend. 1 Membership Rewards point per $1 spent everywhere else including ATO, other government charges and utilities. 
• Annual Fee: $0 in the first year, $195 p.a.

The American Express Platinum Edge Card is offering $0 annual Card Fee (usually $195) in the first year for new Card Members. The card comes with a $200 travel credit each year it is renewed, Smartphone Screen Cover and earns 3 points per $1 at major supermarkets and petrol stations, and 2 points per $1 on overseas spend.

American Express Essential Rewards Credit Card

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• Sign-up Bonus: 60,000 Membership Rewards Bonus Points
• Rewards Earn Rate: 5 points per $1 spent on eligible eats & drinks purchases in Australia, 3 points per $1 spent on selected streaming subscriptions in Australia, 2 points per $1 spent at selected major retailers in Australia and 1 point per $1 spent on everything else including government spend. 
• Annual Fee: $9 per month
• Offer expires: 6 May 2025

The American Express Essential Rewards Card is offering 60,000 Membership Rewards Bonus Points for new American Express Card Members. The Card earns up to 5 points per $1 spent for the first 10,000 points per month and has a range of insurance options for consumers, all for $9 per month. Offer expires 6 May 2025. Min spend $3k in first 3 months. T&Cs apply. New Amex Card Members only.

Summing up

American Express offers a wide variety of rewarding credit cards and charge cards. This guide outlines those many options, including those Amex cards with the highest points-earning potential. While some will prefer to automatically earn points directly into their frequent flyer account through co-brand products, others will value the flexibility that Amex Membership Rewards provides.

American Express cards can be very rewarding, but it’s fair to remind you that Amex acceptance is never universal. Acceptance can also vary significantly from one country to the next. That’s why it could be beneficial to pair your American Express card with a points-earning Visa or Mastercard to scoop up points on every eligible transaction – using that alternative card to earn rewards even where Amex isn’t accepted.

Additional reporting by Evin Tan Khiew. Featured image courtesy of American Express.