Balance Transfer Rate
for 9 months then 20.49%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Price guarantee
- Extended warranty
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
No set max
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 9 months then 20.49%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
Estimated ATM Cost
Qantas Frequent Flyer
Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels
|0.5 points for $1 spent||Mastercard||Up to $200k annually||eligible transactions|
- FREE DOMESTIC TRAVEL INSURANCE
- FREE INTERNATIONAL TRAVEL INSURANCE Cover lasts for 180 days per year
- FREE SUPPLEMENTARY CARDS
- PURCHASE PROTECTION INSURANCE 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.
No foreign transaction fees
Compare and review credit cards with similar features
ANZ Rewards Platinum
Bonus PointsEarn 60,000 bonus Reward Points and your 1st year annual fee waived with your new ANZ Rewards Platinum credit card when you spend $2,500 on eligible purchases in the first 3 months from approval
Bankwest is a full-service bank headquartered in Perth. It was first established in 1895 as the Agricultural Bank of Western Australia. It has gone through a series of name changes since its inception, embracing the trading name Bankwest in 1994. Bankwest is Western Australia’s leading bank, serving 1.2 million customers in WA and across Australia.
Bankwest operates bank branches across the country, with 85 branches in Western Australia and 45 branches nationally. Bankwest’s call centres are located in Australia.
The Bankwest Qantas Platinum Mastercard has a high interest rate, a moderately high annual fee and a moderately low number of interest-free days. It also comes with a moderately high late payment fee and a moderate minimum credit limit.
This card is associated with the Qantas Frequent Flyer program, through which cardholders can earn points for spending and redeem points for flight discounts, upgrades, gift cards and other rewards with Qantas and their partner airlines.
The card also comes with an introductory balance transfer rate for those wanting to carry over and pay off existing debt from another card.
Bankwest Breeze Platinum Mastercard customers are covered by complimentary international credit card travel insurance and extended warranty insurance. Three additional cards (aged 16 years and over) are also allowed at no extra cost.
- Qantas Frequent Flyer program
- Complimentary insurance
- Three free additional cardholders
- High interest rate
- Moderately high annual fee
- Moderately low interest-free days
Who is it good for?
The Bankwest Qantas Platinum Mastercard is especially suited to people who like to travel frequently and can use their credit card regularly while paying it off in full each month. For these customers, this card offers potential to earn frequent flyer rewards and save on the cost of travel insurance.
Those who want to carry over and pay off existing debt would also benefit from this card’s balance transfer deal. However, it’s worth noting there are cards on the market with lower balance transfer rates which may be more suitable.
Additionally, families and people looking to share a credit card could take advantage of this card’s allowance for up to three additional cardholders.
On the other hand, this card isn’t particularly appropriate for people on a tight budget, as it comes with a high interest rate, as well as a moderately high annual fee and late fee.
What RateCity says
The Bankwest Qantas Platinum Mastercard is a good all-round frequent flyer credit card that offers a number of advantages, such as points-earning potential, insurance and free additional cardholders.
The balance transfer offer is also a nice incentive; however, it isn’t the lowest on the market so it probably wouldn’t be the sole drawcard for most customers.
As with most rewards cards, the Bankwest Qantas Platinum Mastercard comes with a high interest rate and a moderately high annual fee, so it’s worth considering whether these costs are worth the potential benefits.
If you find that you can’t always pay your bill on time, you might be better off shopping around to find a card that offers better value for money. And if you’d like the ability to earn rewards other than frequent flyer points, also consider looking for a card with a more varied rewards program.
To be eligible for the Bankwest Qantas Platinum Mastercard, you must be at least 18 years of age, an Australian permanent resident and meet the bank’s serviceability criteria. You can apply online at the Bankwest website or at a branch if preferred, and usually will receive an instant response. When you apply, you will need to provide photo identification and employment details, and disclose information about your income, expenses and assets.
Bankwest (formerly known as the Bank of Western Australia) is owned by Commonwealth Bank and headquartered in Perth. The bank also has branches in Adelaide, Brisbane, Sydney, Melbourne and Canberra. Bankwest provides personal finance products to customers such as bank accounts, credit cards, home loans and personal loans, as well as business banking products. Customers can manage their finances online at the Bankwest website, via the mobile app or in-branch.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.