Westpac and Amex split: what are your credit card options?

couple looking up credit cards on tablet

Today major bank Westpac and credit card giant American Express have officially cut ties. 

Moving forward, the Westpac Altitude Black and Westpac Altitude Platinum will no longer come with the option to bundle with an American Express card.  

According to Westpac, there has been a shift in consumer appetite for bundled credit card products. The decision was made in partnership with Amex. 

“In the current environment, stats have shown that Aussie spending is low,” Mozo Director, Kirsty Lamont said.

“So naturally, some credit card users might be looking to ditch their bundled credit cards and opt for something that suits their needs better, like a low rate credit card or different rewards program.” 

But what does the split mean for current cardholders? 

If you currently hold an Westpac/American Express credit card bundle, Amex will get in contact with you directly about what this change means for you. 

The good news is though, the split won’t affect your rewards points. Current customers will still earn points in accordance with the loyalty program they are currently enrolled in. 

But for new customers, these Westpac/Amex bundles will no longer be available. Both credit card providers still have a bunch of great options. 

Here is what else is on offer:

Westpac Credit Cards

Westpac Low Rate
  • 0% balance transfer for 20 months (1% balance transfer fee)
  • 13.74% interest rate
  • $200 cashback offer (spending criteria applies)
Find out more

Looking to make the switch to a credit card with a low rate, minimal fees and hot offers? The Westpac Low Rate credit card could be the option for you! With a low 13.74% interest rate and a reasonable $59 annual fee, this card really stands out. But that’s not all. Let’s talk offers: If you want to clear debt, there is a 0% balance transfer offer up for grabs for the first 20 months of owning the card. Bear in mind, the rate then reverts to the 21.49% cash rate and there is a 1% balance transfer fee. Or, if you just want to be rewarded for your spending, if you spend $1,000 on eligible purchases in the first 90 days from approval you’ll receive $200 cashback.

Westpac Altitude Black
  • Choice between Altitude Rewards and Qantas Frequent Flyers
  • 150,000 bonus Altitude points (spending conditions apply)
  • 90,000 bonus Qantas points (spending conditions apply)
Find out more

If you are on the hunt for a rewards card, then the Westpac Altitude Black card is worth considering. With this card you have the choice between the Westpac Altitude Rewards program or Qantas Frequent Flyer, it’s totally up to you. Keep in mind, point earnings work a little differently with each program, as you’ll earn 1.25 points per $1 with Altitude and 0.75 points with Qantas Frequent Flyer. It’s also important to note that if you choose the Altitude option, there is a 150,000 bonus points offer for those that apply and are approved by 11 November 2020. Or, for those on Qantas Frequent Flyer, there’s a 90,000 bonus points up for grabs. You need to spend $4,000 on eligible purchases within 90 days from approval for both offers. Just make sure you budget for the $250 annual fee and 20.49% interest rate.

Westpac Altitude Platinum
  • Choice between Altitude Rewards and Qantas Frequent Flyers
  • 80,000 bonus Altitude points or 60,000 bonus Qantas Points (spending conditions apply)
  • Discounted annual fee in first year
Find out more

Like rewards points? No matter whether you’re after Altitude or Qantas Frequent Flyer, with the Westpac Altitude Platinum Card, you could really be rewarded for your spending. This card comes with two bonus points offers. For those who choose the Westpac Altitude rewards program, there are 80,000 bonus Altitude points on offer. On the other hand, Qantas Frequent Flyers can earn 60,000 bonus Qantas points. For both offers, customers must apply by 11 November 2020 and spend $3,000 on eligible purchases in the first 90 days from approval. Plus, this card comes with a discounted $99 annual fee in the first year ($150 after). Just keep an eye on your repayments, as there is a hefty 20.49% interest rate.

American Express Credit Cards

American Express Qantas Discovery Card
  • Up to 1.75 points one $1 spent
  • No annual fee
  • 44 interest free days on purchases

If you are all about plumping up your Qantas Frequent Flyer points now, take a look at the American Express Qantas Discovery Card. Not only does this card have no pesky annual fee for you to worry about, you could earn up to 1.75 points on each dollar you spend. Here’s a breakdown: on everyday purchases you’ll earn 0.75 points per $1, and if you happen to be purchasing Qantas products or services you’ll snap up an additional 1 point per $1. That’s a juicy 1.75 points! While there are 44 interest free days on purchases, just remember there’s a high 20.74% interest rate if you don’t pay off your card in time.

American Express Explorer Credit Card
  • 50,000 Membership Rewards bonus points (spending criteria applies)
  • 2 Membership Rewards points per $1 spent
  • Extended warranty on purchases (up to 12 months)

Want to get your points stash going for when you can start travelling again? The Amex Explorer Credit Card might be what you need. Not only can you earn 2 Membership Rewards points on each dollar you spend, this card also comes with a bonus points offer. Customers receive 50,000 Membership Rewards points when they  spend $3,000 in the first 3 months from approval. Not only that, there’s 55 interest free days on purchases plus extended warranty for up to 12 months. But the truth is, these perks come at a cost, in the form of a $395 annual fee and hefty 20.74% interest rate.

American Express Platinum Edge Credit Card
  • Up to 3 points per dollar
  • 55 interest-free days on purchases
  • Extended warranty on purchases

The American Express Platinum Edge Credit Card could be the perfect way to reward yourself for your everyday spending. Earn an impressive 3 rewards points per $1 at major supermarkets and petrol stations (1 point per $1 on all other spending in Australia). Plus, there’s also 55 interest-free days on purchases as well as extended warranty when you use the card. Need a hand sleeping, meditating or relaxing? If you apply for this card by 31 October 2020, you’ll receive a complimentary Calm app Premium Membership (and 50% the following year). Bear in mind, there is a $195 annual fee to budget for as well as a 20.74% interest rate.

Want to check out some other credit card options? Jump over to our credit card comparison table for more providers!

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