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More Platinum Mastercard

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Basic

Electronic Wallet Service

Important Rates

Rates

Balance Transfer

Overseas spending

Rewards

Eligibility

Earn Rates

RateCard TypeEarnsCondition
2 points for $1 spentMastercardUp to $400,000 annuallyeligible transactions
  • Free Domestic Travel Insurance
  • Free International Travel Insurance Cover lasts for 180 days per year
  • Free Supplementary Cards
  • Purchase Protection Covers up to $125,000 per year
  • Price Guarantee If you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 21 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75 and less than $1000.
  • Extended Warranty Warranty is extended for the same duration as the original warranty up to 1 year.

Features

The Bankwest More Platinum Mastercard is a rewards card that lets you turn everyday purchases into rewards points. Offering a range of complimentary travel insurances and no foreign transaction fees make the Bankwest More Platinum Mastercard an appealing option for frequent flyers looking to turn their spending into rewards.

Bankwest's More Platinum Mastercard offers cardholders a 0 per cent introductory balance transfer rate for the first six months. Once the introductory period expires, the card will revert to a moderately high interest rate and annual fee, which is not uncommon for reward cards. This card offers a moderately low amount of interest-free days and a moderately high late payment fee.

Customers can get 75,000 bonus points by spending $48,000 each year on eligible purchases. Every dollar spent will earn two rewards points. There is an annual cap of 400,000 points which expire after 36 months.

Pros
  • Rewards program
  • Complimentary insurance
  • No foreign transaction fees
Cons
  • Annual fee charged
  • Late payment fee charged
  • High interest rate

Who is it good for?

Cardholders who regularly spend on their card will get the most value out of their Bankwest More Platinum Mastercard. Much like other rewards cards, the interest rate is on the high side, meaning this card is best suited to those who pay their balance in full each month.

Frequent flyers may benefit from the complimentary credit card travel insurance, which covers the cardholder's family, free worldwide emergency card replacement and fee-free foreign currency conversion fees.

Bankwest More Platinum Mastercard offers a wide range of complimentary insurances like purchase protection, extended warranty, guaranteed pricing scheme, and interstate flight inconvenience insurance.

Cardholders who spend over $48,000 each year stand to gain an additional 75,000 bonus points. It’s worth noting that there is an annual cap of 400,000 points, which expire after 36 months.

This card is not ideal for those looking to consolidate debt.

What RateCity says

If you’re a regular traveller and you’re in the habit of paying your card balance in full, the Bankwest More Platinum Mastercard rewards program might offer value. While this card is packed with features, there are some caveats to consider. To access the 75,000 bonus points, you need to spend over $48,000 each year. At 2 points per $1 spent, points can accrue quickly, but there is an annual cap of 400,000 points which expire after 36 months.

Compared to other cards, the Bankwest More Platinum Mastercard offers a moderately low amount of interest-free days. There is a 0 per cent balance transfer option for six months, although the standard rate is on the high side and there is a 1 per cent balance transfer fee.

If you’re regular with your repayments and looking for a card that offers rewards, this card might be worth exploring. 

Applying/eligibility

To be eligible for Bankwest More Platinum Mastercard you need to be 18 years or older and be a permanent Australian resident. In addition to providing at least two forms of identification, you will need to provide proof of employment, income and financial information, including expenses and assets. Applications can be made online through the Bankwest website. The process takes a few minutes, and you’ll get an instant response at the time of application.

About Bankwest

BankWest was first established in 1895 by the government of Western Australia. Known back then as the Agricultural Bank of Western Australia, it was launched to assist in developing the state’s agricultural industry. In 2008, BankWest joined the Commonwealth Bank Group. Bankwest offers a wide range of personal and business banking products, such as credit cards, which include low rate, no annual fee, rewards and frequent flyer cards. Bankwest also offers home loans, personal loans and car loans.

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