Qantas World Mastercard
- Last updated on 10 Jul 2020
ANZ Low Rate
Balance Transfer
0% P.A. for 22 months on balance transfers and $0 Annual Account Fee in First Year with an ANZ Low Rate credit card (1.5% Balance Transfer Fee applies).
Purchase Rate
12.49%
Annual Fee
$0
for 12 months then $58
Purchase Rate
20.49%
Balance Transfer Rate
2.99%
for 9 months then 20.49%
Annual Fee
$270
Max Free Days
44
$25
Pros
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Price guarantee
- Extended warranty
Card Level Premium | Number free supplementary 3 |
Interest Free Days Interest Free Days 44 | Annual Fee Annual Fee $270 |
Maximum credit limit No set max | Late Payment Fee $25 |
Minimum credit limit $12k | Over limit fee $30 |
Minimum repayment dollars $20 | Duplicate statement fee $7.5 |
Minimum repayment percent 2% | Supplementary card annual fee $0 |
Purchase Rate Purchase Rate 20.49% |
Cash advance rate 21.99% |
Balance Transfer Rate Balance Transfer Rate 2.99% for 9 months then 20.49% |
Transfer Limit 95% of the approved credit limit |
Balance Transfer Fee $0 |
Foreign Exchange Fee |
Overseas charges Overseas charges $5 |
Estimated ATM Cost - |
Program name Qantas Frequent Flyer |
Rewards Available Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels |
Minimum age 18 |
Minimum income $0 |
Eligibility conditions |
Residency |
Earn Rates
| Rate | Card Type | Earns | Condition |
|---|---|---|---|
| 1 point for $1 spent | Mastercard | Up to $5k monthly | eligible transactions |
| 0.5 points for $1 spent | Mastercard | Up to $100m monthly | eligible transactions |
Perks
- FREE DOMESTIC TRAVEL INSURANCE
- FREE INTERNATIONAL TRAVEL INSURANCE Cover lasts for 365 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
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.
Features
The Bankwest Qantas World Mastercard has a high interest rate on purchases and a very high annual fee. Although it comes at a cost, this credit card also provides a number of perks and benefits to cardholders.
As the name implies, customers who choose the Bankwest Qantas World Mastercard can earn Qantas Frequent Flyer points on eligible purchases. If you are not already a member, the fee to join the Qantas Frequent Flyer program will also be waived when choosing this credit card.
Cardholders can also enjoy access to the Bankwest Lounge and discounted food and drinks at the Perth Arena, as well a complimentary international travel insurance. Travelling with this credit card is also made a little easier with international transaction fees being waived. Bankwest are also offering free emergency card replacement worldwide.
Pros
- Earn Qantas Frequent Flyer points
- Complimentary travel insurance
- Balance transfer offer
Cons
- High interest rate
- Very high annual fee
- Moderately high minimum credit limit
Who is it good for?
The Bankwest Qantas World Mastercard offers benefits and extras that work in favour of frequent flyers. The ability to earn Qantas Frequent Flyer points to bolster a new or existing travel rewards membership, as well as complimentary travel insurance and no international transaction fees, all make this credit card easy to travel with.
However, the high interest rate, very high annual fee and moderately low number of interest-free days mean that this credit card could quickly become unaffordable. Unless you can afford the interest rate, or you are very savvy with your credit card repayments, this credit card may not be suitable for you.
That said, consumers who choose this card can also take advantage of the nine-month balance transfer offer at a very low interest rate, so it could be suitable for customers with a modest amount of credit card debt.
What RateCity says
The Bankwest Qantas World Mastercard is a credit card for those looking to travel regularly and experience the VIP treatment.
This card has a very high annual fee and the typical high interest rate on rewards credit cards, so its complimentary services do come at a cost of sorts. This credit card provides so many perks and benefits that it is easy to forget about the fees and charges.
The Bankwest Qantas World Mastercard also has a moderately high minimum credit limit, which could prove tempting for bigger purchases that may not be affordable in the long run, especially when you start paying interest.
Despite the multiple complimentary insurances offered with this card, it’s important to read the fine print to make sure these products will actually benefit you. There are also other credit cards available with more generous frequent flyer earning schemes and lower balance transfer interest rates.
Applying/eligibility
To apply for the Bankwest Qantas World Mastercard, you must be at least 18 years old and an Australian citizen or permanent resident, and not already have a Bankwest Qantas Mastercard account. To start your online application, make sure that you have your Australian passport or driver’s licence on hand, as well as your employment and financial details, including your income, assets and regular expenses. You can apply online in just six steps.
About the lender
Bankwest is an Australian bank based in Perth that as originally established in 1895 as the Bank of Western Australia. Bankwest has been a subsidiary of Commonwealth Bank since 2008 and today has branches throughout Western Australia, as well as offices in Brisbane, Sydney, Canberra, Melbourne and Adelaide. Customers can contact Bankwest for personal and business banking enquiries during standard and extended business hours, and 24/7 for lost or stolen cards.
Nick Bendel
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.
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FAQs
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers. Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14.
The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid.
Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.