The American Express Platinum Membership Rewards Credit Card combines New Zealanders' affinity with loyalty programs, and American Express' ability to deliver premium value. At its core, it offers more points earning potential than any other card in the market, and more substantial rewards.

Foundation Cardmembers earn two points for every dollar spent until the end of 2006. And at a select range of bonus partners, this can increase to up to 10 points for every dollar spent. Which means there's no faster way to earn points that convert to substantial rewards like air travel and/or a selection of premium brand products and services.

In addition, the card offers an impressive range of discounts on non-air rewards, and membership of the Platinum Privileges Club — a suite of exclusive cardmember benefits. The Club brings with it special accommodation offers at fine hotels, enrollment in the American Express Wine Cellar club and Avis Platinum Preferred Club membership.

“Our market analysis has indicated that Gold card holders in New Zealand have been looking for something that better reflects their lifestyles and offers a more substantial set of benefits in line with their use of credit to manage finances,” said American Express Country Manager Atul Mathur. “These customers are financially savvy, success oriented people who fit well with the American Express brand, so we have developed a product just for them.”

Mathur further stated that the Platinum Membership Rewards Credit Card builds on the success of American Express' rewards program in New Zealand and sets new standards in the industry.

The Platinum Membership Rewards credit card carries an annual fee of $325, which includes unlimited free supplementary cards.

The new card has all of the core features that distinguish American Express products, including a competitive interest rate of 16.99 percent p.a. and an introductory balance transfer offer — just 5.99 percent p.a. for the life of the transferred balance.

The Platinum Membership Rewards Credit Card is being marketed through an advertising campaign in select lifestyle media and will be backed up by a direct mail campaign. In addition, as the card is expected to be extremely popular, a designated call center has been established to provide further information.

American Express will continue to offer its Platinum charge card to a very select group of customers who will have exclusive access to benefits such as the renowned Platinum Concierge Services.

The launch of the new card is being celebrated with a special invitation only evening of entertainment and rare pleasures at the Auckland War Memorial Museum on July 18, and at the Museum of New Zealand Te Papa Tongarewa next on July 25 July.

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.