Platinum Rewards Visa card image

Bank Australia Platinum Rewards Visa

Advertiser disclosure
Purchase rate
18.24% p.a.
Balance transfer rate
No current offer
Annual fees
Interest free days on purchases

Mozo editorial review Bank Australia Platinum Rewards Visa - last updated: 17 August 2021

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What's hot
  • Earn 0.75 Qantas Points per $1 spent (capped)
  • Earn bonus points on select Qantas products and services
  • Complimentary travel insurance
What's not
  • $189 annual fee
Mozo snapshot

The Bank Australia Platinum Rewards Visa card could be a great option for frequent flyers always on the go. That's because the more eligible purchases you make with the card, the more Qantas Frequent Flyer points you’ll earn, plus you’ll enjoy plenty of other benefits including complimentary travel insurance.

Note: Bank Australia has temporarily closed applications for new Bank Australia customers. 
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Key features

The Platinum Rewards Visa card has a purchase rate of 18.24%, an annual fee of $189 and up to 55 interest-free days on purchases for cardholders who pay off their balances in full each month. 

Let's talk points though. Cardholders will be able to start boosting their points tally quickly with an earn rate of 0.75 Qantas Points for each dollar spent, although this is capped at 20,000 points each month. On top of that, the Platinum Rewards Visa card also allows customers to earn 1 additional Qantas Point for every $1 they spend on select Qantas products and services in Australia. 

Like the idea of taking your Bank Australia Platinum Rewards Visa card overseas? Eligible cardholders will be able to secure complimentary travel insurance, though when it comes to spending abroad just bear in mind that the card does come with a 3.00% foreign exchange margin. 

Speaking of spending, depending on their smartphone, cardholders will be able to leave their wallets at home and pay with their phones using either Apple Pay, Google Pay or Samsung Pay. 

Finally there are a few extra bits of information you might like to know about, including the fact that there's an additional $59 fee for adding another cardholder to your account as well as a $26 transaction verification fee and $5 cash advance fee. However, there are no penalties for late payments.

Who is it good for

The Platinum Rewards Visa card from Bank Australia could be a great choice for Australians who like the idea of racking up points and being able to redeem them through the Qantas network.

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Any catches

While this is a great card for everyday spending, watch out for the 3.00% foreign exchange fee when you shop overseas or on an international website.

Rewards program details

Rates and fees information correct as at 27 January 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

110,400 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

19,010 points

$100 Cash


Points earning

0.75 points per dollar on Visa, up to 20000 points per month

Rewards scheme

Points are automatically credited to the Qantas Frequent Flyer program.

All rewards are redeemed via Qantas Frequent Flyer.

Bonus points on selected Qantas products and services.

Value of rewards points

Spend $25,347 (Visa)

Spend $10,667 (Visa)

Spend $147,200 (Visa)

at 20,000 points monthly


How do we calculate these points?
How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.


Rate and fee details


18.24% p.a.


No current offer


18.24% p.a.

















Applications temporarily closed for new Bank Australia customers.

Payment options

Apple Pay, Google Pay, Samsung Pay

Rewards privileges

Travel Insurance

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