Bankwest Qantas World Mastercard
Bankwest Qantas World Mastercard
Mozo Review Bankwest Qantas World Mastercard Review
Last updated: 3 May 2018.
What's hot:
Uncapped points, no expiry date
Complimentary travel insurance
Unlimited points earning potential
Multiple 2018 Mozo Experts Choice Award winner
What's not:
20.49% interest rate
$270 annual fee
Mozo snapshot:
The Bankwest Qantas World Mastercard is suited to the premium traveller, as rewards points are directly credited to your Qantas Frequent Flyers program. It also comes with no foreign transaction fees, a range of perks, including free international travel insurance, and you can earn 0.66 points for every $1 spent. Did we mention that it was a multiple winner in the 2018 Mozo Experts Choice Travel Money Awards for best Platinum Travel Credit Card and Rewards Travel Credit Card categories?
But remember that all this comes with a premium price tag - the $270 annual fee - so make sure you're taking full advantage of the rewards on offer.
Key features:
There’s a lot for travellers to love about the Bankwest Qantas World MasterCard.
Firstly, the card is linked to your Qantas Frequent Flyers membership, so all your spending goes directly towards earning a bunch of cool freebies, like flights, accommodation and other travel necessities. It also comes with complimentary international travel insurance for up to 12 months at a time and no foreign exchange margin to worry about while shopping overseas.
As far as rewards points go, you’ll earn 0.66 rewards points for every $1 you spend, and those points are uncapped and never expire, so you can really build up a good stash before cashing them in.
With a $270 annual fee and an interest rate of 20.49%, this is not the most budget friendly piece of plastic around, so you’ll want to make the most of the premium perks on offer. These include guaranteed pricing, extended warranty, purchase protection and a 24/7 concierge service.
For those looking to do a balance transfer, you’ll have a 2.99% interest rate for 9 months, after which any remaining balance will be charged the regular interest rate.
Who it's good for:
No foreign transaction fees, free travel insurance and rewards points credited straight to your Frequent Flyers account mean this card is great for travellers who want a no-fuss rewards program and some neat freebies.
Any catches?
The points earning power on this card doesn’t really match up to its annual fee - so make sure you’re squeezing all the value you can from the other perks on offer.
Rewards program details
Rates and fees information correct as at 22 August 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
0.66 points per dollar on Mastercard, uncapped
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 $24,485 (Mastercard)
Spend $12,121 (Mastercard)
Spend $181,818 (Mastercard)
Uncapped
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
-
$270.00
-
none
-
none
-
none
-
$25.00
-
2%, Min $4.00
-
0%
-
$7.50
-
$10.00
-
$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?
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.
