MC/Visa above platinum

[oz_mark]

Given that the banks seem to be on an upward push to move people onto platinum cards, I was wondering if Visa or MC have anything in Australia above Platinum?

(NB - not really interested in having such a card - more interested in where they will go after they have moved half the population onto 'exclusive' platinum cards )

 

[Mal]

Isn't Signature and Infinite 2 levels available for Visas above Platinum?

I have a feeling MacBank (or maybe St George Private banking) offers one or the other.

 

[oz_mark]

I've heard rumours of their existence, and they are "invite only". Never heard of anyone with one though, so wondered if they were really issued in this country.

 

[Homer]

Given that the banks seem to be on an upward push to move people onto platinum cards, I was wondering if Visa or MC have anything in Australia above Platinum?

It would depend on the bank, I imagine.

I have an ANZ Private Bank Visa Platinum which is ANZ's card above Platinum for their Private Bank clients.

 

[Mal]

Found this quote about the "infinite visa"

"Visa Infinite is at the pinnacle of Visa’s card portfolio. It is available by invitation only and has been designed to meet the needs of the top one percent of the highest spending consumers worldwide."

I'm sure one of the private banks in Australia offers it - but couldn't find any web references to it.

 

[canabear]

The infinite card is mentioned on the Visa website here

Visa Infinite
A world beyond your expectations

Visa Infinite offers excellent spending power, convenience, personalized privileges, rewards and service. Visa Infinite is by invitation only.

Visa Australia | Cardholders | Cards and Services

and visa infinite has it's own members only website

https://www.visainfinite-asia.com/infinite/ap/index.jsp

 

[Nutcase]

There are no Infinite or Signature cards on issue in Australia. The market here is too small and with the credit crunch - well we all know about that. Platinum is the highest at the moment in this country and as we all know there is a massive push on by the banks to migrate all of us to Platinum cards. The reason for this is the higher interchange payable on Platinum card transactions. Its a money making thing.

Also, Amex has the top end of the market tied up with Centurion and to a lesser degree Platinum charge.

Im sure that you will now all disagree with me ferociously.

 

[oz_mark]

There are no Infinite or Signature cards on issue in Australia. The market here is too small and with the credit crunch - well we all know about that. Platinum is the highest at the moment in this country and as we all know there is a massive push on by the banks to migrate all of us to Platinum cards. The reason for this is the higher interchange payable on Platinum card transactions. Its a money making thing.

Also, Amex has the top end of the market tied up with Centurion and to a lesser degree Platinum charge.

Im sure that you will now all disagree with me ferociously.

Not really disagreeing, I can see now that there are Infinite and Signature cards, but cannot recall anyone ever mentioning them in Australia, so I wondered if they were actually issued in Australia. So I guess my anser is that while there are cards above platinum we don't have them in Australia.

My question then, is once they have moved us all to platinum where do they then go to generate increased income, or is that the end of the road?

 

[Nutcase]

Not really disagreeing, I can see now that there are Infinite and Signature cards, but cannot recall anyone ever mentioning them in Australia, so I wondered if they were actually issued in Australia. So I guess my anser is that while there are cards above platinum we don't have them in Australia.

My question then, is once they have moved us all to platinum where do they then go to generate increased income, or is that the end of the road?

You make a good point. Signature and Infinite have been around for years (Over 10 from memory) and no bank here has been keen to take them up due to the small amount of customers who would be able to qualify.

If you look at the US, there are thousands co-branded Signature Visa/MC cards. Amazon.com, Brooks brothers, Crate and Barrel, Nordstrum, Lexus, Mercedes Benz, Most Major Universities the list goes on and on where here, there are virtually none. Amex has most of the major groups tied up and there isn't enough volume to support much more.

The Holden Card has been a spectacular failure for Westpac, as has the BP card for citibank. The David Jones Amex card isnt working and GE are disappointed with the Myer Visa card numbers. Remember the Shell Visa?

A Bunnings card? A Ford Card? Just Jeans Visa? Country Road Mastercard? There isnt much left and the numbers are low.

Platinum has taken a long time to take hold in Australia. The NAB has only recently launched a platinum card - About 12 years after Citibank. ANZ launched theirs about 12 months ago along with a platinum card for Private bank clients - the most valuable clients to the bank.

I cant see Signature or Infinite taking hold here given that the interchange rates are the same as platinum and our regime is different to the USA and Europe.

Where to from Platinum? - These are clever people, they will think of something. Stored value, Paypass (contactless payments) Micro payments, enhanced data reporting for business, the list goes on and on

 

[docjames]

.

The Holden Card has been a spectacular failure for Westpac, as has the BP card for citibank. The David Jones Amex card isnt working and GE are disappointed with the Myer Visa card numbers. Remember the Shell Visa?

On what basis (ie. on what information do you "know") that the GM card (not the holden card) and the BP card are failures?

I would think it's too early to tell on the other two.

I agree the shell visa came and went without much of a stutter.

 

[oz_mark]

I've had a look at the Myer Visa and the David Jones Amex, and it is hard to see that I would be able to extract the value of the annual fee out of the card.

In the case of DJ's, I have a store card (free), which enables access to interest free promotions, and at the moment the 2% (woohoo) shareholder discount. I also have a Amex Platinum Credit Card. Pretty hard to see that I would get $99 worth of value out of a DJ Amex. Now if they were to throw in a $100 voucher each year....

Similar with the Myer Visa, although while I once had a Myer Card, it morphed over time into a Source card, and so far haven't bothered getting a Myer Specific card, but again hard to justify the $49 fee.

BP card is the same.

I am not sure of the fee structure in the US, but certainly the fee structure here for rewards based cards results in the number of cards being ket to a minimal level.

 

[pauly7]

The Holden Card has been a spectacular failure for Westpac, as has the BP card for citibank. The David Jones Amex card isnt working and GE are disappointed with the Myer Visa card numbers. Remember the Shell Visa?

Is that fact or opinion...? If fact what is your source because the DJ crew are screaming about what a success their card is. Of course they are good at PR...!