Bankwest Qantas Platinum Mastercard
Bankwest Qantas Platinum Mastercard
Mozo Review Bankwest Qantas Platinum Mastercard Review
Last updated: 3 May 2018.
What's hot:
No foreign transaction fees
2.99% balance transfer rate for 9 months
Qantas Frequent Flyer membership fee wiped
Mozo Experts Choice Awards Winner 2018
What's not:
High 21.99% cash advance rate
Mozo snapshot:
If you're a frequent flyer looking for a credit card with Platinum perks then 2018 Mozo Experts Choice Award winner, the Bankwest Qantas Platinum MasterCard, could be your card. The card comes with complimentary credit card travel and medical insurance, and platinum extras like 24/7 concierge and no foreign transaction fees on overseas purchases, whether made online or in person (Limitations and exclusions apply).
Key features:
If you have debt on another card, the Bankwest Qantas Platinum MasterCard has a 2.99% balance transfer offer for the first 9 months but beware that it reverts back to the 20.49% purchase rate at the end of the offer.
The Platinum card has an annual fee of $160. You will be able to use your platinum card wherever MasterCard is accepted worldwide.
You will earn 0.5 Qantas Points for every dollar spent on the Bankwest Qantas Platinum MasterCard and you can earn points quicker by having up to three additional cards. If you're not already a member of the Qantas Frequent Flyer Program you will receive complimentary membership valued at $89.50.
For the big spenders, just be aware that points are capped after $200,000 annual spend.
If you travel overseas regularly you will benefit from the travel and medical accident insurance that comes free with the credit card. As a platinum card holder you also won't pay any foreign currency exchange fees on purchases which compared with other cards that charge around 3% on all purchases, will save you money whether you are shopping online or while you're away.
Who it's good for:
This credit card is best suited to people who want to put all their rewards points towards redeeming flights and travel offers through Qantas.
Any catches?
Just the usual warnings for any credit card holder. Set up automatic monthly repayments to ensure that you don't miss a payment and get lumped with a $25 late payment fee.
Like most credit cards, if you withdraw cash using your card, you will start paying the high 21.99% cash advance rate immediately.
Rewards program details
Rates and fees information correct as at 16 October 2018.
What your points get you
Fly Sydney to London
120,000 points
Fly Sydney to Melbourne
8,000 points
$100 Giftcard
16,160 points
$100 Cash
-
Points earning
0.5 points per dollar on Mastercard, up to 200000 points per year
Rewards scheme
Points are automatically credited to the Qantas Frequent Flyer program.
All rewards are redeemed via Qantas Frequent Flyer.
See Bankwest site for full Terms and Conditions.
Value of rewards points
Spend $32,320 (Mastercard)
Spend $16,000 (Mastercard)
Spend $240,000 (Mastercard)
at 200,000 points yearly
Never
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
Rates
-
20.49% p.a.
-
none
-
2.99% p.a. for 9 months and then 20.49% p.a.
-
no
-
21.99% p.a.
-
44
Fees
-
$160.00
-
none
-
none
-
none
-
$25.00
-
2%, Min $4.00
-
0%
-
$7.50
-
$12.00
-
$0.00
Features
-
$20.00
-
2.0
-
3
-
none
Payment options
Google Pay, Payment Ring
Rewards privileges
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection
Customer Reviews
How are Bankwest credit cards rated by the Mozo community?
Latest reviews of Bankwest Qantas Platinum Mastercard
- Overall8/10
Competitive rates
Have always helped us out when needed, with what ever we've requested.
Read full review
Have always helped us out when needed, with what ever we've requested.
Price8/10Features9/10Customer service5/10Convenience9/10Trust9/10Less
David | Western Australia
reviewed 7 months ago
- Overall9/10
Great product, usual platinum features
Good product. Platinum features and service. Could be better priced to allow better value for...
Read full review
Good product. Platinum features and service. Could be better priced to allow better value for money.
Price7/10Features9/10Customer service9/10Convenience9/10Trust9/10Less
Guy | New South Wales
reviewed about 3 years ago
- Overall7/10
Great for frequent flyer points and free insurance
Free travel insurance when you purchase a min of $500 of your holiday accomodation or flights...
Read full review
Free travel insurance when you purchase a min of $500 of your holiday accomodation or flights using your card. I had to make a claim for an an accident when I was overseas and it was handled efficiently and professionally. I did not have to pay one cent out of my own pocket. Also get frequent flyer points when I shop using the card.
Price3/10Features8/10Customer service8/10Convenience9/10Trust8/10Less
Sharon | Western Australia
reviewed about 3 years ago
- Overall10/10
Great customer service
Personal contact anytime you ring and check within minutes if they think a purchase is a bit out...
Read full review
Personal contact anytime you ring and check within minutes if they think a purchase is a bit out of the ordinary.
Price7/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Tracy | Victoria
reviewed about 3 years ago
- Overall1/10
Calculation of Qantas FF points problems!
Calculation of my QANTAS FREQUENT POINTS is not accurate. I requested a review of my accrued...
Read full review
Calculation of my QANTAS FREQUENT POINTS is not accurate. I requested a review of my accrued points three weeks ago. I'm still waiting for the resolution of this problem.
Price2/10Features3/10Customer service3/10Convenience3/10Trust2/10Less
Disappointed | Western Australia
reviewed about 3 years ago
About Bankwest
Bankwest is the bank best known for Making Banking Easier, an initiative which aims to make banking a more positive experience. Originally from Western Australia, Bankwest has attracted thousands of customers around the country with its competitively priced products such as the Hero Saver. In late 2008 the bank was bought by the Commonwealth Bank, who have promised to retain the Bankwest brand. So if you like the sound of Making Banking Easier, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.
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