Bankwest Qantas Platinum MasterCard – Rates and Fees

Information verified correct on September 29th, 2016

With up to 50,000 introductory bonus Qantas Points and no foreign transaction fees on overseas purchases, Bankwest offers an ideal credit card for the worldwide traveller.

The Bankwest Qantas Platinum MasterCard gives you a number of privileges and benefits like insurance covers, Qantas Points per dollar spent and 50,000 bonus Qantas Points. This bonus points offer is available to new customers who apply by 30 November 2016 and spend $2,500 on eligible purchases within the first 3 months of account opening. Terms and conditions apply.

Put those points towards an international flight, and enjoy fee-free banking on your purchases overseas. For the Australian looking for a lucrative rewards credit card, this is one to add your comparisons.

Product NameBankwest Qantas Platinum MasterCard
Rewards ProgramQantas Frequent Flyer
Balance transfer rate (p.a.)2.99% p.a. for 9 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Standard Balance Transfer Revert Rate (20.49% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)20.49% p.a.
Offer end date30 November 2016
Annual fee$160 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)21.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Minimum Monthly Repayment2% of the closing balance or $20.00
Card TypeMasterCard
Late Payment Fee$25
Foreign Currency Conversion Fee (MC)0% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Annual Fee$160 p.a.
Minimum Repayment2% of the closing balance or $20.00
Late Payment Fee$25
Over Limit Fee$30
Cash Advance Fee2% or $4.00, whichever is greater
Overseas Cash Advance Fee2% or $4.00, whichever is greater
Overseas Emergency Replacement$0
Overseas ATM Withdrawal Fee$0
Foreign Currency Conversion Fee (MC)0% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders3
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • New customers can earn up to 50,000 bonus Qantas Points*. Minimum spend, terms and conditions apply.
  • Bankwest Qantas Platinum cardholders can enjoy a $0 foreign transaction fee.
  • Enjoy a 2.99% p.a. for 9 months balance transfer offer that comes with this card.
  • Stay protected and secured with this card's complimentary travel insurance with unlimited medical and hospital coverage, and protection against loss, damage or theft of your personal items.

Cons

  • A high annual fee of $160 comes with this card.
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up50,000
Rewards Points per $ (VISA/MC)0.5
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap200,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Bankwest Qantas Platinum MasterCard review

The Bankwest Qantas Platinum MasterCard is partnered with the Qantas Frequent Flyer Program. This allows you to earn points towards flights with either Qantas or Jetstar airlines. If you don’t have plans to fly, you can also redeem your points at the Qantas Store, which has thousands of items available.

With this card you also get complimentary insurance covers on both purchases and travelling, interest-free days and the ability to make fee-free purchases overseas, even when shopping online. Bankwest also gives you the chance to save money on high interest cards with a balance transfer offer that charges 2.99% p.a. interest for 9 months.

Benefits of using a Bankwest Qantas Platinum MasterCard

Bankwest gives you a number of reasons to consider their Qantas Platinum MasterCard when looking into various rewards cards programs:

  • Rewards program. Enjoy earning 1 Qantas Point per $2 spent on eligible purchases, up to 200,000 each year. These points can be used towards airfare with Qantas or Jetstar, or you can choose merchandise from the Qantas Store. You do need to be a member of the Qantas Frequent Flyer Program to take advantage of this offer, but free membership is available if you join online.
  • Bonus points. New customers will receive 50,000 bonus Qantas Points if they apply between 1 August 2016 and 30 November 2016, are approved and spend $2,500 on eligible purchases within the first 3 months of account opening. (Terms and conditions apply).
  • Complimentary credit card travel insurance. With the Bankwest Qantas Platinum MasterCard you can get complimentary credit card travel insurance for a consecutive period of 6 months overseas. Enjoy unlimited medical and hospital coverage, and protection against loss, damage or theft of your personal items up to $30,000. Delayed baggage is also covered for up to $1,200 and car hire excess of up to $3,000. Exclusions, limitations and conditions apply.
  • Purchase insurance. Complimentary purchase security cover provides protection from loss, theft or accidental damage of your purchases made anywhere in the world for three months after the date of purchase for up to $125,000 a year. The extended warranty adds 12 months to any warranty that comes with your goods, and the purchase price guarantee gives you three weeks to find the same item for a less price to claim the difference.
  • Interest-free days. Get up to 44 interest-free days when you use your Qantas Platinum MasterCard. You must pay closing balance, including any cash advances and balances, to qualify for interest-free days.
  • Balance transfer offer. You get 9 months to pay off any transferred balance at a 2.99% p.a. interest rate. There is a minimum of $500 that you can transfer, and any unpaid balance left at the end of the 9-month period will revert to the standard variable rate of 20.49% p.a.

Features of the Bankwest Qantas Platinum MasterCard

Benefits are not the only thing you should study when comparing credit cards. Look at the differences in the features such as:

  • Annual fee. Your credit card account will be charged $160 each year that it is open.
  • International fees. You won’t be charged a foreign transaction fee when using the card to make purchases in foreign currencies overseas or online. Please note that cash advance fees will apply if you use the card for ATM withdrawals overseas.
  • Minimum credit limit. The credit limit on this card starts at $6,000.
  • Additional cards. You are allowed up to 3 additional cardholders under one account.
  • MasterCard. MasterCard is worldwide recognised credit card, allowing you to make your purchases at millions of locations in person or online. Use the Tap & Go feature to pay for purchases under $100 without having to swipe your card or sign your name.
  • Interest-free days. You get up to 44 interest-free after a purchase so long as you are able to pay the entire balance, including any balance transfers or cash advances.

How to apply for the Bankwest Qantas Platinum MasterCard

You have the option of applying for the Bankwest Qantas Platinum MasterCard online or in your local branch. It should take no more than 20 minutes to complete, but before beginning you should ensure that you are eligible for approval.

Eligibility criteria

  • You must be at least 18 years old to apply for this card.
  • Only permanent Australian residents will be considered.
  • You will be asked to read and accept the Bankwest privacy and consent forms in order for them to go forward and verify your identity and credit history.
  •  You are going to have to supply a working email address and other contact information so a Bankwest representative can get in touch.

If eligible, you can continue to the application by clicking on “Go to Site”. This will take you to a secure application where you will be asked for information found on the following documentation.

Required documents

  • You will need to supply your Australian driver’s licence along with a passport, Medicare card or Australian birth certificate.
  • Contact information for your current job is required along with your income.
  • Along with your income you will need to disclose your current debts, including credit card and loan balances.

For the Australian looking for flight rewards along with other money saving features from a credit card, then the Qantas Platinum MasterCard will meet your needs. Compare the rewards program, balance transfer offer and rates against other banks to see who is giving out the best deals.

Frequently asked questions

Is there a limit on the number of points I can earn in a year?

Yes, with this card points are capped at 200,000 including those that come as an introductory bonus.

If I get additional cards for my family, will their purchases count towards my rewards account?

Yes, additional cards are still a part of the one credit card account and therefore a part of the associated Qantas Rewards account.

Can I use the card for cash advances?

Yes, any ATM with a MasterCard logo will allow you to withdraw cash. Each of these transactions will incur a fee of 2% or $4.00, whichever is greater.

Do I have to be a Qantas Frequent Flyer member?

Yes, in order to redeem your points you will need to be a member of the Qantas Frequent Flyer program.

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151 Responses to Bankwest Qantas Platinum MasterCard – Rates and Fees

  1. Default Gravatar
    daniel | August 22, 2016

    Hi,
    I am an existing Bankwest customer, if i apply for the Qantas platinum MasterCard will i receive the 50,000 points on eligible purchases?

    Cheers

    • Staff
      May | August 22, 2016

      Hi Daniel,

      Thank you for your question.

      The 50,000 bonus Qantas Points promotion is only available for new Bankwest Qantas MasterCard customers who apply for a Bankwest Qantas Platinum MasterCard credit card between 01 August and 30 September 2016, are approved and spend at least $2,500 on eligible purchases within 3 months from account opening.

      Cheers,
      May

  2. Default Gravatar
    | August 11, 2016

    What is the minimum spend and what is the time frame that this minimum spend needs to be achieved in?

    • Staff
      May | August 11, 2016

      Hi Debbie,

      Thank you for your question.

      You will receive the 50,000 bonus Qantas Points if you apply for the card between 01 August and 30 September 2016, are approved and spend at least $2,500 on eligible purchases within 3 months from account opening.

      Cheers,
      May

  3. Default Gravatar
    | June 3, 2016

    How can Bankwest give clients a card with 55 days free and 0.75 points per dollar spent take your money for the yearly subscription and after a few months change to 44 days free and 0.5 points? I signed and paid for one year at the higher rewards and now want my yearly money back as have not received what I paid for.

    • Staff
      May | June 7, 2016

      Hi Roy,

      Thanks for your comment.

      Unfortunately, Bankwest is one of the credit card issuers who made changes to their reward programs in 2016, which I understand have resulted in less value for cardholders. Actually, more banks will also make updates to their rewards cards in the coming days.

      With Bankwest, their Qantas Platinum MasterCard and Qantas World MasterCard were affected by these changes. Effective 4 July 2016, the rewards system and the interest-free days will be:

      Qantas Platinum MasterCard
      - Reduced earn rate from 0.75 points to 0.5 points per $1.
      - Interest-free days are cut from 55 days to 44 days.

      Qantas World MasterCard
      - Reduced earn rate from 1 point to 0.66 points per $1.
      - Interest-free days are cut from 55 days to 44 days.

      You can find more information about changes to credit card reward programs here.

      By the way, if you’d like to inquire if you can get back what you have paid for the annual fee, a customer service from Bankwest could give you the best advice. I’ve sent their contact details to your email.

      Cheers,
      May

  4. Default Gravatar
    Sandra | March 29, 2016

    Hi there, are the cash advance fee and cash advance rate also charged if the card account has a positive balance, ie if money is deposited onto the card to take it into ‘credit’?

    • Staff
      Debbie | April 5, 2016

      Hi Sandra,

      Thanks for your inquiry.

      Please note that you’ve come through finder.com.au, an online comparison service and not a product issuer such as Bankwest.

      There will be no cash advance fee or interest rate if you are withdrawing from your own funds.

      For more information, kindly check our page on things you need to know for cash advance rates.

      I hope this helps.

      Cheers,
      Debbie

  5. Default Gravatar
    marc | February 20, 2016

    can you please advise if the bankwest platinum master card allow payments to bpay and the ATO and receives points for theses transactions

    • Staff
      Jonathan | February 22, 2016

      Hi Marc, thanks for your inquiry!

      Credit card payments to BPAY are accepted with this credit card, although ATO payments do not qualify for rewards points. You can compare credit cards which earn rewards points for payments to the ATO on this page.

      Cheers,

      Jonathan

  6. Default Gravatar
    sydmat | January 30, 2016

    Hi
    My wife & I have a holiday in Europe in April and are looking for credit card that has no transaction costs on foreign currency transactions. The Bankwest Qantas Platinum MasterCard looks like it suits our needs but we have a few questions:
    1. Are there any fees for a supplementary card holder?
    2. QF points – the text in the explanation on your website http://www.creditcardfinder.com.au/bankwest-qantas-platinum-mastercard.html seems indicate 2 lots of 8000 points are on offer. Extracts follow:
    ‘Rewards program. Your rewards account is given an initial boost of 8,000 points when you are approved for this card.’
    ‘Bonus points. New customers are eligible to receive 8,000 bonus Qantas Points three months after the card has been opened, if they have charged at least $1,500 in purchases during that time.’

    many thanks…

    • Staff
      Jonathan | February 1, 2016

      Hi Sydmat, thanks for your inquiry!

      The answers to your questions are as follows:

      1. You can apply for up to 3 additional/ supplementary cardholders with no fees applicable $0.
      2. The 8,000 bonus points offer is only available once per new customer application. We have updated our content to communicate this more effectively.

      I hope this helps!

      Cheers,

      Jonathan

  7. Default Gravatar
    Diane | January 19, 2016

    If the applicant’s only income is the Aged Pension, would he/she still be eligible for the credit card?

    • Staff
      Sharon | January 19, 2016

      Hi Diane,

      Thanks for your question.

      The card doesn’t have a set minimum income requirement, instead the application is assessed on an individual basis. Bankwest consider factors such as residential history, assets, income and liabilities when reviewing applications.

      I hope this has helped.

      Cheers,

      Sharon

  8. Default Gravatar
    Kent | January 8, 2016

    Is there any fees for an additional card ?

    • Staff
      Sally | January 8, 2016

      Hi Kent,

      Thanks for your question.

      No, there are no fees to add an additional card to your account.

      Cheers,

      Sally

  9. Default Gravatar
    no | December 1, 2015

    How much income per year for platinum card?

    • Staff
      Sally | December 2, 2015

      Hello,

      Thanks for your question.

      The card doesn’t have a set minimum income requirement, instead the application is assessed on an individual basis. Bankwest consider factors such as employment, residential history, assets, income and liabilities when reviewing applications.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    Agnes | November 17, 2015

    After my credit card application being approved, how long will it take for the credit card to be arrived in my postal address ?

    • Staff
      Ally | November 17, 2015

      Hi Agnes,

      Thanks for your inquiry.

      It usually takes about 5-10 working days to receive a new Bankwest credit card. For more info, you may refer to this guide right here.

      I emailed you Bankwest’s contact details as well so that you may confirm the status of your card with their customer service team directly.

      I hope this has helped.

      Cheers,
      Ally

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