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More Classic Mastercard

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Basic

Electronic Wallet Service

Important Rates

Rates

Balance Transfer

Overseas spending

Rewards

Eligibility

Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentMastercardUp to $150,000 annuallyeligible transactions
  • Free Supplementary Cards

Features

The Bankwest More Classic Mastercard is a credit card with a moderate annual fee, moderately high interest rates and a moderately low number of interest-free days. The card has a moderately high late and missed payment fees.

This card has an associated reward program that allows card holders to earn rewards points on most purchases. The Bankwest More Classic Mastercard receives rewards points at a rate of 1.5 points per $1 spent. The card holder will also collect annual bonus rewards points when they meet a minimum spend within the year. Points can be redeemed for cash back.

The Bankwest More Classic Mastercard also has an introductory offer of 0 per cent interest on balance transfers for the first six months for customers who want to transfer existing debt. A one-off fee of 1 per cent applies.

Pros
  • Earns rewards points
  • Bonus rewards points possible
  • 0% balance transfer offer
Cons
  • Charges annual fee
  • No complimentary insurances
  • Moderately high interest rates

 

Who is it good for?

The Bankwest More Classic Mastercard is best for potential card holders who want a cash back rewards scheme. The card earns rewards points on most purchases and can be redeemed for money back.

The Bankwest More Classic Mastercard is not a good fit for customers who want frequent flyer benefits or those who want complimentary insurances with their rewards program. This card offers no complimentary insurances, and rewards points cannot be redeemed with any airlines.

This card is also not well suited to budget card holders. The card charges a moderate annual fee as well as moderately high interest rates. Although the Bankwest More Classic Mastercard offers 0 per cent interest on balance transfers for six months, budget card holders may find the associated fees and costs after the offer has expired are more than they anticipated.

What RateCity says

The Bankwest More Classic Mastercard has a reasonable annual fee for a rewards credit card. This card may be a good choice for current Bankwest customers who want a card that offers cash back rewards.

However, the card delivers few advantages to most potential card holders. The card does not come with complimentary insurances, nor can points be redeemed for frequent flyer benefits. Customers who spend a low amount on their card may find that the rewards are not worth the moderate annual fee or the moderately high interest rates. This card is also not suitable for international spending.

Potential customers who wish to make a balance transfer may be tempted by the offer of 0 per cent interest for the first six months, but when this offer expires, they may find the interest rates and fees problematic.

Applying/eligibility

Applicants who wish to apply for the Bankwest More Classic Mastercard must be age 18 or older. You must also be an Australian citizen or an Australian permanent resident. Before you apply, it’s best to have photo identification nearby, such as an Australian driver’s licence or passport. You’ll also need details of your employment, including length of employment and employer contact details, as well as financial information like income and expenses.

About Bankwest

Bankwest is a full-service Australian bank based in Perth. Started as the Agricultural Bank of Western Australia, Bankwest has a history that spans over 120 years. Bankwest offers their customers solutions to bank, borrow, save, invest and protect. They deliver financial services to both individuals and businesses, including credit cards, bank accounts, loans, investments and insurance. In 2008, Bankwest joined the Commonwealth Bank Group, becoming a part of one of Australia’s leading financial institutions.

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