The American Express Airpoints Platinum has the highest Airpoints earn rate of the NZ cards we compare: 1 Airpoints Dollar per $70 spent. Here’s how the $195 annual fee and the Amex acceptance limitations weigh against that.
The Amex Airpoints Platinum ($195/year) has the highest Airpoints earn rate of the cards we compare (1 per $70), plus travel insurance and some lounge passes, but Amex isn't accepted everywhere in NZ. Airpoints alone cover the fee at about $13,650 of annual spend. The ANZ Airpoints Visa Platinum ($150, 1 per $75) is on the Visa network, which is accepted more widely. Which comes out ahead depends on your spending, how often you fly, and where you shop.
Amex Airpoints Platinum — Key Facts
| Feature | Detail |
|---|---|
| Annual fee | $195 (as at October 2026) |
| Interest rate | 22.95% p.a. on purchases and cash advances |
| Airpoints earn rate | 1 Airpoints Dollar per $70 spend |
| Travel insurance | Yes — comprehensive |
| Lounge access | 2 Priority Pass lounge visits a year (Basic Card Member), 2 Centurion Lounge entries a year (Sydney or Melbourne), and a discount on Air NZ Koru membership |
| Supplementary cards | Yes — additional cardholders earn Airpoints |
| Card network | American Express |
| Acceptance in NZ | Accepted at major retailers; not accepted at some merchants |
| Currency conversion commission | 2.5% of the converted amount |
Airpoints Earn Rate Compared
The Amex Airpoints Platinum earns Airpoints faster than the ANZ Airpoints cards:
| Card | Earn rate | Annual Airpoints (on $15,000 spend) |
|---|---|---|
| Amex Airpoints Platinum | 1 per $70 | $214 |
| ANZ Airpoints Visa Platinum | 1 per $75 | $200 |
| ANZ Airpoints Visa | 1 per $100 | $150 |
On $15,000 annual spend, the Amex earns $14 more in Airpoints than the ANZ Platinum, but its annual fee is $45 more, so on Airpoints alone the ANZ Platinum comes out ahead at this spending level.
At $25,000 annual spend:
- Amex Airpoints Platinum: $357 Airpoints
- ANZ Airpoints Visa Platinum: $333 Airpoints
- Difference: $24 more Airpoints per year on Amex
The earn-rate gap grows with spending, but on Airpoints alone it only covers the $45 higher fee above about $47,250 of annual spend.
Break-Even Analysis
To justify the $195 annual fee from Airpoints alone: Break-even spend = $195 × $70 = $13,650 per year
However, the lounge access and travel insurance add substantial value:
| Benefit | Annual value estimate |
|---|---|
| Priority Pass and Centurion Lounge visits | Depends on how often you’d use them |
| Travel insurance | $300–$600 (family, if purchased separately) |
| Extra Airpoints vs ANZ Platinum | $24 (at $25,000 spend) |
If you fly Air NZ more than twice annually and currently pay separately for lounge access or travel insurance, those estimates can exceed the $195 fee, even at moderate spending levels.
The Amex Acceptance Problem in NZ
This is the most important limitation to understand before applying:
Where Amex is accepted in NZ:
- Most supermarkets (Woolworths, New World — not all Pak’nSave locations)
- Major retailers (Farmers, Warehouse, most large stores)
- Most petrol stations
- Online merchants
Where Amex is often NOT accepted:
- Small businesses and cafés
- Markets and independent merchants
- Some tradespeople and service providers
- Some local restaurants
- Government agencies (IRD payments)
In practical terms: if you exclusively shop at large retailers and supermarkets, Amex works fine. If you regularly use small businesses, you’ll need a backup.
Two cards: Most Amex Airpoints Platinum cardholders carry a Visa or Mastercard as a backup for merchants that don’t take Amex. A $0-fee card keeps that backup free (the Kiwibank Zero Visa, for example, has no annual fee).
Lounge Access
The card’s lounge benefits are passes and discounts. American Express lists (as at October 2026):
- 2 complimentary passes a year (Basic Card Member only) into VIP lounges in the Priority Pass program, including the Strata Lounge at Auckland International Airport; enrolment required
- 2 complimentary entries a calendar year to the Centurion Lounge at Sydney or Melbourne International Airport
- A discount on the Air New Zealand Koru joining fee, and a Koru annual fee discount for as long as you hold the card
Value: depends on how often you’d use the passes, and whether you would pay for Koru membership anyway.
Travel Insurance Inclusion
The Amex Airpoints Platinum includes comprehensive travel insurance when you purchase your international travel tickets with the card. This typically covers:
- Medical expenses (including overseas medical evacuation)
- Trip cancellation and delay
- Baggage loss and delay
- Rental car excess
Check the current policy document for full terms, exclusions, and any coverage limits.
Features and Limitations
Features:
- 1 Airpoints Dollar per $70 spend; $24 more Airpoints than the ANZ Platinum at $25,000/year
- 2 Priority Pass and 2 Centurion Lounge visits a year, plus a Koru membership discount
- Travel insurance included when international tickets are bought with the card
Limitations:
- $195 annual fee; Airpoints alone cover it from about $13,650/year of spend
- Not accepted at some NZ merchants
- 22.95% p.a. interest on a carried balance
- 2.5% currency conversion commission on foreign currency spending
Amex Airpoints Platinum vs ANZ Airpoints Visa Platinum
| Feature | Amex Airpoints Platinum | ANZ Airpoints Visa Platinum |
|---|---|---|
| Annual fee | $195 | $150 |
| Earn rate | 1 per $70 | 1 per $75 |
| Travel insurance | Yes | Yes |
| Lounge access | 2 Priority Pass visits a year | No |
| Network | American Express (not accepted at some NZ merchants) | Visa |
| Break-even spend | ~$13,650 | ~$11,250 |
The ANZ Airpoints Visa Platinum costs $45 less a year and is accepted more widely. The Amex Airpoints Platinum earns faster and adds Priority Pass lounge visits.
Summary
The Amex Airpoints Platinum earns 1 Airpoints Dollar per $70, the highest rate of the cards we compare, and includes travel insurance, Priority Pass lounge visits and a Koru membership discount for a $195 annual fee (as at October 2026). Airpoints alone cover the fee at about $13,650 of annual spend; against the ANZ Airpoints Visa Platinum, the extra Airpoints only make up the $45 higher fee above about $47,250 of annual spend. The trade-off is Amex acceptance: many smaller NZ merchants don’t take it, so cardholders typically carry a second card.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- interest.co.nz credit card rates: tables of current credit card interest rates and fees.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
Next Steps
- Amex Airpoints standard card review — lower-cost Amex Airpoints option
- ANZ Airpoints Visa Platinum review: the Visa alternative
- Air NZ Airpoints guide NZ — how to maximise your Airpoints
- Travel credit cards NZ: full travel card comparison