Bankwest

Bankwest Qantas World Mastercard

Purchase rate

20.49% p.a.

Balance transfer rate

2.99% p.a. for 9 months and then 20.49% p.a.

Annual fee

$270

Rewards program

Qantas Frequent Flyer

Bankwest Qantas World Mastercard

Purchase rate

20.49% p.a.

Balance transfer rate

2.99% p.a. for 9 months and then 20.49% p.a.

Annual fee

$270

Rewards program

Qantas Frequent Flyer

Details

Details

Mozo Review Bankwest Qantas World Mastercard Review

Last updated: 4 September 2019.

What's hot:

2019 Mozo Experts Choice Award Travel Credit Card Provider of the Year
Free Qantas Frequent Flyer membership when you take out a card
1 point per $1 spent on eligible purchases (first $5,000 spent each month)

What's not:

20.49% interest rate
$270 annual fee

Mozo snapshot:

The Qantas World Mastercard from 2019 Travel Credit Card Provider of the Year, Bankwest, 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 overseas travel insurance. And did we mention that it was a multiple winner in the 2019 Mozo Experts Choice Travel Money Awards in the 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 overseas travel insurance for up to 12 months at a time and no foreign transaction fee to worry about while shopping overseas.

As far as rewards points go, you’ll earn 1 Qantas Point on every $1 you spend for the first $5,000 you spend each month and 0.5 Qantas Points per $1 spent after that.

With a $270 annual fee after that, plus 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 and purchase protection.

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, complimentary overseas 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?

Big spenders should be sure to keep in mind that after the first $5,000 you spend in a month, the points earning rate on this card will drop by half. And, if you occasionally carry a balance, this might not be the plastic for you considering the high 20.49% purchase rate.

Rewards program details

What your points get you

Fly Sydney to London return

110,400 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

18,040 points

$100 Cash

Points earning

1 point per dollar on Mastercard, up to $5,000 per month, then
0.5 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

Earn $100 gift card reward

Spend $18,040 (Mastercard)

Earn domestic flight: Sydney-Melbourne one-way reward

Spend $8,000 (Mastercard)

Earn international flight: Sydney-London return reward

Spend $160,800 (Mastercard)

Are points capped?

Uncapped

Do points expire?

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

Purchase rate

20.49% p.a.
Intro purchase rate

none
Balance transfer rate

2.99% p.a. for 9 months and then 20.49% p.a.
Balance transfer revert to cash

no
Cash advance rate

21.99% p.a.
Interest free days on purchases

44

Fees

Annual card fee

$270.00
Introductory annual fee

none
Annual fee spend threshold

none
Reward program fee

none
Late payment fee

$25.00
Cash advance fee

2%, Min $4.00
Foreign exchange margin

0%
Duplicate statement fee

$7.50
Transaction verification fee

$12.00
Additional card fee

$0.00

Features

Minimum repayment amount

$20.00
Minimum repayment percent

2.0
Additional cardholders

3
Other restrictions

none

Payment options

Apple Pay, Google Pay, Payment Ring

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection

Customer Reviews

How are Bankwest credit cards rated by the Mozo community?

Overall customer rating

7.3/10

Based on 1027 Bankwest credit card reviews

Price

6.9/10

Features

6.2/10

Customer service

7.4/10

Convenience

7.5/10

Trust

7.4/10

Bankwest

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.

See Bankwest credit cards

Promoted

Bankwest

More Platinum Mastercard

Purchase rate

19.99% p.a.

Balance transfer rate

0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)

Annual fees

$160