Zero Mastercard

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Pros:
  • No Annual Fee
Cons:

    Basic

    Card Level
    Card Level
    Standard
    Interest Free Days
    Interest Free Days
    55
    Maximum credit limit
    Maximum credit limit
    No set max
    Minimum credit limit
    Minimum credit limit
    $1,000
    Minimum repayment dollars
    Minimum repayment dollars
    $20
    Minimum repayment percent
    Minimum repayment percent
    2
    Number free supplementary
    Number free supplementary
    3
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $25
    Over limit fee
    Over limit fee
    $30
    Duplicate statement fee
    Duplicate statement fee
    $8
    Supplementary card annual fee
    Supplementary card annual fee
    $0
    Apple Pay available
    Apple Pay available
    Google Pay available
    Google Pay available
    Samsung Pay available
    Samsung Pay available
    Card Level
    Card Level
    Standard
    Interest Free Days
    Interest Free Days
    55
    Maximum credit limit
    Maximum credit limit
    No set max
    Minimum credit limit
    Minimum credit limit
    $1,000
    Minimum repayment dollars
    Minimum repayment dollars
    $20
    Minimum repayment percent
    Minimum repayment percent
    2
    Number free supplementary
    Number free supplementary
    3
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $25
    Over limit fee
    Over limit fee
    $30
    Duplicate statement fee
    Duplicate statement fee
    $8
    Supplementary card annual fee
    Supplementary card annual fee
    $0
    Apple Pay available
    Apple Pay available
    Google Pay available
    Google Pay available
    Samsung Pay available
    Samsung Pay available

    Rates

    Purchase Rate
    Purchase Rate
    17.99%
    Cash advance rate
    Cash advance rate
    21.99%
    Purchase Rate
    Purchase Rate
    17.99%
    Cash advance rate
    Cash advance rate
    21.99%

    Balance Transfer

    Balance Transfer Rate
    Balance Transfer Rate
    2.99%for 9 months then 17.99%
    Transfer Limit
    Transfer Limit
    95%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0
    Balance Transfer Rate
    Balance Transfer Rate
    2.99%for 9 months then 17.99%
    Transfer Limit
    Transfer Limit
    95%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0

    Overseas spending

    Foreign Exchange Fee
    Foreign Exchange Fee
    2.95% on MasterCard
    Overseas charges
    Overseas charges
    $5
    Estimated ATM Cost
    Estimated ATM Cost
    Foreign Exchange Fee
    Foreign Exchange Fee
    2.95% on MasterCard
    Overseas charges
    Overseas charges
    $5
    Estimated ATM Cost
    Estimated ATM Cost

    Rewards

    Program name
    Program name
    Rewards Available
    Rewards Available
    Program name
    Program name
    Rewards Available
    Rewards Available

    Eligibility

    Minimum age
    Minimum age
    18
    Minimum income
    Minimum income
    Eligibility conditions
    Eligibility conditions
    Minimum age
    Minimum age
    18
    Minimum income
    Minimum income
    Eligibility conditions
    Eligibility conditions

    Perks

    • Free Supplementary Cards

    Features

    The Bankwest Zero Mastercard has no annual fee, a moderately high interest rate, a moderate interest-free period and a moderately high late repayment fee. The card does not have an associated rewards scheme, and allows three additional cardholders at no additional cost.

    It also offers a low balance transfer deal, for the first nine months, for those looking to transfer their existing card debt. However, after the introductory period, the balance transfer rate then reverts to one that is moderately high.

    Cardholders are able to manage their account and access their credit card statements via Bankwest online banking 24 hours a day, seven days a week.

    In terms of security, the Bankwest Zero Mastercard is covered by individual fraud protection and there is free worldwide emergency card replacement if the card is lost or stolen.

    Pros
    • No annual fee
    • Balance transfer offer
    • Free worldwide emergency card replacement
    Cons
    • No rewards
    • Moderately high interest rate
    • Moderately high late repayment fee

     

    Who is it good for?

    This no-frills card is aimed at people who are not interested in rewards schemes or accumulating bonus points, but just want a basic, low-cost credit card for day-to-day use.

    With no annual fee for the life of the card (unlike other cards that offer a free introductory period and then revert to a high annual fee later on), as long as you pay off your balance in full each month, this is a low-cost card to maintain. For that reason, it may be a good card for students or anyone living on a budget.

    If you travel a lot and want a card that helps you earn bonus points, there are definitely better cards out there with rewards schemes attached. The Bankwest Zero Mastercard doesn’t come with any bells or whistles, nor any points or rewards.

    What RateCity says

    The Bankwest Zero Mastercard is a solid, everyday card designed to appeal to people who aren’t interested in bonus points, travel insurances or any of the frills that go with more prestige cards.

    The lack of any annual fee for the life of the card is a real bonus and, if you pay off your monthly statement fully, this can be a really low-cost card. If not, you’ll pay a moderately high late payment fee. However, you can set up Bankwest ‘easy alerts’ to remind you to make repayments on time.

    The low balance transfer rate for nine months is also attractive – but if you’re still paying off your balance after that time, the rate does rise considerably. So if you’re carrying over a large debt that will take you a while to clear, you could find the rate jump challenging.

    Applying/eligibility

    To apply for the Bankwest Zero Mastercard, you must be at least 18 years old and either a resident or citizen of Australia, with a good credit rating. Temporary residents are not eligible. The application process is straightforward and can be done online or in person at a branch of the bank. You just need two forms of identification and details of your income, expenses and assets. You also need any information regarding the consolidation of existing debt.

    About Bankwest

    Beginning as the Agricultural Bank of Western Australia in 1895, Bankwest provides finance products to customers, including credit cards, personal and home loans. Customers can stay in 24/7 contact with customer service representatives through the bank’s phone hotline and online services. Customers can also manage their own finances through the bank’s internet banking portal and mobile app. The bank joined the Commonwealth Bank Group in 2008 and was Money magazine’s Bank of the Year in 2017.

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