product logo

Platinum Rewards Mastercard

Compare

Basic

Electronic Wallet Service

Important Rates

Rates

Balance Transfer

Overseas spending

Rewards

Eligibility

Earn Rates

RateCard TypeEarnsCondition
1 point for $1 spentMastercarduncappedeligible transactions
  • Free Domestic Travel Insurance Available when you use your card or rewards points to pay for return domestic travel
  • Free International Travel Insurance Available when you use your Card or rewards points to pay for return international travel
  • Free Supplementary Cards
  • Purchase Protection Cover lasts for 21 days 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 60 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 $300.
  • Extended Warranty
  • Concierge
  • Partner Discounts

Features

The Auswide Bank Platinum Rewards Mastercard has high interest rates, a moderate number of interest-free days and a high credit limit. The annual fee is discounted in the first year, followed by a moderately high annual fee ongoing. This card charges a low late payment fee.

The Auswide Bank Platinum Rewards Mastercard has an introductory deal that charges 0 per cent interest on balance transfers for 14 months for customers who want to transfer existing debt. After the offer has expired, customers will be charged the card’s high interest rates.

This card comes with a reward scheme that earns 1 rewards point per $1 spent on eligible purchases. Rewards points never expire, and customers can redeem for their choice of merchandise, travel perks or cash back to use for outstanding balances or your annual fee. Points can also be redeemed with a selection of airlines.

Pros
  • 0% balance transfer offer
  • Four free additional cardholders
  • Six complimentary insurances
Cons
  • Charges an annual fee
  • High interest rates
  • Charges overseas transaction fees

 

Who is it good for?

The Auswide Bank Platinum Rewards Mastercard is best for those who spend regularly on their credit card and are confident about paying their bill in full each month. Frequent spending will help card holders gain the most from the card’s rewards program, while the high interest rates may become troublesome for those who do not clear their debt each month.

This card is not particularly well suited to budget card holders. Although the Auswide Bank Platinum Rewards Mastercard offers 14 months with 0 per cent interest on balance transfers, budget card holders should be wary of the high interest rates after the offer has expired.

The card is also not ideal for overseas use. The Auswide Bank Platinum Rewards Mastercard charges an overseas transaction fee for purchases made in a foreign currency or purchases made from an overseas vendor. 

What RateCity says

The Auswide Bank Platinum Rewards Mastercard offers a range of benefits to customers who spend high amounts and pay their credit card bill in full each month. The card comes with six complimentary purchase and travel insurance, a high level of security, four free supplementary cards and an equitable rewards scheme.

However, the Auswide Bank Platinum Rewards Mastercard does not serve those who want a no-fuss, low-rate credit card. Although the card offers 0 per cent interest on balance transfers for 14 months, the card’s standard interest rates are high. The card also charges a moderate annual fee in the first year, followed by a moderately high fee ongoing. These rates and fees may be a deterrent to budget card holders and customers who want to minimise unnecessary credit card fees.

Applying/eligibility

Applicants can apply for the Auswide Bank Platinum Rewards Mastercard through a secure online portal. To be eligible, you must be at least 18 years old, have a good credit rating and earn a minimum yearly income of $35,000. When completing your application, you’ll be asked to provide specific information, including your employment details, your current financial expenses and liabilities, and your contact information. You may also be required to submit a photo ID, such as a passport. 

About Auswide Bank

Auswide Bank, formerly known as Wide Bay Australia, is an Australian bank based in Queensland. With a history that spans over 50 years, Auswide Bank was officially launched in 2015 after a series of mergers. Although Auswide Bank is smaller than Australia’s ‘big four’ banks, they still provide a wide variety of financial products and services. Their offering includes credit cards, bank accounts, home loans, car loans, personal loans, term deposits, superannuation, insurance and financial advice.

Compare your product with the big 4 banks, or add more products to compare
As seen on