Digging into the details of the Amplify Signature cards

The Amplify Signature Visa offers 0.75 Qantas Points or 1.5 Amplify Rewards points (which also equal 0.75 Velocity Points, KrisFlyer or Enrich Miles) per dollar spent with no points cap.

The Amplify Signature card is worth considering for the relatively high flexible points program earn rate outside of American Express.

The additional benefits of the Amplify Signature card include a 10% points ‘birthday bonus’ on your spend for the previous year, which effectively increases your points earn rate on all your spend if you keep the card active. There are also two single entry lounge passes (Qantas or Priority Pass), insurances and access to Visa Luxury Hotels booking service.

Earning points: Qantas vs Amplify Rewards

When you first get the card, you’ll need to choose whether you want it to accrue points into Qantas Frequent Flyer directly, on a monthly sweep basis, or into the Amplify Rewards program.

For the Amplify Signature Visa, you’ll earn 0.75 Qantas Points per $ on spend if you opt-in on earning Qantas Points. Otherwise, earn rate is 1.5 Amplify rewards points per dollar on eligible purchases.

The benefit of Amplify Rewards is that you can accrue points which you can then have some flexibility in how you use them. There’s more on this approach to earning points in this overview of flexible points programs.

It’s worth realising that while you’ll earn twice as many points outright (on spend) by accruing to Amplify than Qantas, they are not equivalent in value, given the rates at which they transfer to partner airline programs – making it an even points earn proposition between choosing Qantas or Amplify.

The transfer rate to Virgin Australia’s Velocity, Singapore Airlines KrisFlyer and Malaysia Airlines Enrich program (Amplify’s three airline transfer partners) is 2 Amplify points : 1 airline point/mile.

All up, the points earn rate is decent for a Visa or Mastercard option – at 0.75 points (Qantas, or Velocity/KrisFlyer/Enrich) per $ spent – or 0.825 points per $ once you factor in the Birthday bonus. There are higher points-earning cards out there at similar annual fees but you may be tied to either Qantas Frequent Flyer or Velocity only.

Note that the Amplify Visa cards no longer earns points at the ATO according to their respective Amplify and Qantas Rewards PDS (St. George, Bank of Melbourne, BankSA).

Choosing Qantas or Amplify Rewards for the sign-up bonus

It may be worth your while to opt for Qantas Points for the sign-up bonus (as it is worth double any other frequent flyer program) and then switch to Amplify Rewards for more flexibility.

You can make the switch online using this form (St. George version). A very important note for switching the other way around:

If you are switching from Amplify Rewards to Amplify Qantas, points earned under Amplify Rewards must be redeemed within 90 days of the program switch being processed or they will be forfeited.

However, switching from Qantas Points to Amplify Rewards won’t affect your previous balance:

If you are switching from Amplify Qantas to Amplify Rewards, Qantas Points earned before the program switch is processed will be transferred to the nominated Qantas Frequent Flyer membership account as usual.

How the Birthday Bonus works

The Amplify Signature Visa comes with a unique benefit of a 10% bonus on all points earned from spend over the previous 12 months (excluding any bonus points) on your birthday each year.

It’s a neat way to reward loyalty for keeping the card, and effectively ups the points earn rate 0.825 points per $ from the quoted 0.75, if you keep the card year on year.

According to the terms, the points will hit your account no more than four weeks after your birthday.

The Amplify Signature Visa also comes with lounge access

You’re also offered two complimentary single-entry lounge passes each year.

If you’ve opted into Amplify Rewards, you’ll receive a taste of Priority Pass membership.

However, if you know you’ll use them, the more useful lounge passes come from opting into Qantas, where you’ll receive two Qantas lounge invitations each year, which are pretty handy – they can be used domestically or internationally.

Other benefits of the Amplify Signature Visa

The Amplify Signature Visa comes with access to the Visa Luxury Hotels program, which offers:

• Best available rate guarantee
• Automatic room upgrade upon arrival (when available)
• 3pm check-out (when available) at over 900 luxury hotels
• Free in-room Internet
• Complimentary continental breakfast
• VIP Guest status
• US$25 food or beverage voucher.

You can check out the available deals at participating hotels at visaluxuryhotels.com – the program may be of use to you, or it may not, depending on the hotel you’re looking into.

You’ll also get access to the Amplify Signature Travel Service, which is a dedicated phone service with Travel consultants available to cardholders, with access to some specific packages. Worth looking it if you’re likely to use it.

And finally, there’s also a range of included insurances:

• Complimentary Overseas Travel insurance for up to 6 months
• Complimentary Purchase Cover for up to 4 months
• Extended Warranty Cover for up to 12 months
• Transit Accident insurance
• Certain medical and hospital expenses overseas – unlimited cover (except emergency dental and bed care patient allowance)
• Unexpected cancellation of your travel arrangements and associated expenses – unlimited cover (maximum of AUD $10,000 for a family)
• Up to $500 per person for travel delays.
• Up to $550 per person for loss or damage to travel documents.
• Up to $20,000 per person for accidental loss or damage to eligible personal property
• Up to $5,500 of excess cover for loss or damage of a rental vehicle

As I always say with credit card insurances, only you can decide if they offer value for your circumstances, so make sure you read the PDS for them to decide if they meet your needs. Read the full PDS here for St. George, Bank of Melbourne, and BankSA

Digging into the details of the Amplify Platinum Visa cards

The Amplify Platinum Visa offers 0.5 Qantas Points per dollar spent, or 1 Amplify Rewards points (which also equal 0.5 Velocity Points, KrisFlyer or Enrich Miles) on spend with no points cap.

Finally, the card terms in relation to loyalty points are here.

Conclusion

These could be useful cards for those who are looking for non-Amex cards with decent points earn and flexibility in how you use them.

Bonus offers on these cards can be hit and miss, but when they are good the card is well worth considering, and the travel and lounge access perks on the Amplify Signature are a handy extra benefit.