Bankwest Zero Platinum MasterCard – Rates & Fees

Information verified correct on May 27th, 2016
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Enjoy no annual fee and a special low introductory balance transfer rate with the Bankwest Zero Platinum MasterCard.

The Bankwest Platinum MasterCard offers cardholders a number of benefits. If you’re looking to save on credit card costs, the annual fee and 9 months low balance transfer period could come in use. If you’re a frequent traveller, you’ll benefit from complimentary travel insurances and no foreign transaction fees. Compare the features and fees of the card to determine if this is the right credit card for you.

Product NameBankwest Zero Platinum MasterCard
Balance transfer rate (p.a.)2.99% p.a. for 9 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (17.99% p.a.)
Purchase rate (p.a.)17.99% p.a.
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont 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 55 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%
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$0 p.a.
Minimum Repayment2%
Late Payment Fee$25
Over Limit Fee$30
Cash Advance FeeGreater of 2% or $4.00
Overseas Cash Advance FeeGreater of 2% or $4.00
Overseas Emergency Replacement$2.90
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$0
Foreign Currency Conversion Fee (MC)0% of transaction value
Gambling Transactions AllowedNo
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
  • Awarded 'Credit Card Issuer of the Year' in Money Magazine's Awards for 2013
  • Consolidate your debt with the 2.99% p.a. for 9 months offer on balance transfers.
  • Benefit from 3 free additional cardholders.
  • $0 foreign transaction fee make this card an attractive offer for making purchases when travelling overseas, or when purchasing online from overseas websites.
Cons
  • No rewards program meaning you won't earn rewards points on your purchases.

Bankwest Zero Platinum MasterCard review

The Bankwest Zero Platinum MasterCard is specially designed for frequent travelling, affordable balance transfers and frequent shopping. The international travel cover on the card covers you against baggage loss and delays, car hire emergencies and medical and hospital cover. Customers with the Platinum MasterCard benefit from waivers on online and overseas purchases together with other perks such as cash advances, accident, death or unemployment cover and other lucrative optional extras.

Benefits of the Bankwest Zero Platinum MasterCard

  • Interest-free days. You can take advantage of up to 55 interest-free days on purchases when you pay in full by your closing balance date. This can help give you time to reap the benefits of the card before incurring interest.
  • Annual fees. Unlike most platinum cards, the Bankwest Zero Platinum MasterCard doesn’t charge annual fees.
  • Overseas spending perks. Cardholders won’t be charged for foreign transactions or ATM withdrawals made overseas.
  • Optional credit card protection. You have the option of taking out Credit Card Protection with St. Andrew’s that will cover you in case an accident, illness or unemployment makes you unable to pay off your credit card. Cover is available up to $50,000 and your premium is deducted from your card each month.

Features of the Bankwest Zero Platinum MasterCard

  • Balance transfers. Repay your existing debt at a low balance transfer of 2.99% p.a. for up to 9 months. Keep in mind that you can only transfer balances from non-Bankwest cards.
  • Purchase security. This card offers you protection against faulty and damaged personal goods bought anywhere in the world with the card, with a maximum cap of $125,000 on claims. You also get extended warranty on purchases for up to 12 months.
  • Travel perks. This card offers you certain travel perks such as car hire insurance excess of up to $3,000, cover against delayed luggage of up to $12,000, medical and hospital cover while overseas and cover against lost, stolen or damaged luggage. International travel insurance on this card can also cover you and your family for up to 6 months if you purchase return tickets.
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How to apply for the Bankwest Zero Platinum MasterCard

If you’ve decided that the Bankwest Zero Platinum MasterCard could work for you, click ‘Go to Site’ to complete your application.

Eligibility criteria:

  • A good credit rating
  • Be at least 18 years old and a permanent Australian resident

You’ll need to provide the following documents to be approved for the card.

Required documents:

  • Proof of income
  • Your driver’s licence

If you’re looking for a credit card that will give you the freedom to travel and transfer your balance while also saving you money on annual fees, the Bankwest Zero Platinum MasterCard might be an option for you to consider. Make sure you see how the Bankwest card compares to others in its category by using comparison tables on finder.com.au so you can find the best card for you.

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793 Responses to Bankwest Zero Platinum MasterCard – Rates & Fees

  1. Default Gravatar
    Carol | May 23, 2016

    If I make a purchase from an international supplier where I am charged in a foreign currency – over the internet… so while I am in Australia, is there any foreign currency transaction fee charged by Bankwest.
    Thanks

    • Staff
      Anndy | May 23, 2016

      Hi Carol,

      Thanks for your question.

      Bankwest Zero Platinum MasterCard has $0 foreign transaction fee, making this card an attractive offer when travelling overseas or when purchasing from overseas websites.

      Cheers,
      Anndy

  2. Default Gravatar
    Kerrie | May 12, 2016

    Hi,

    What if there are no Bankwest ATM or branch overseas to take advantage of the overseas spending perks? Does this perk also apply to CBA overseas since Bankwest and CBA here can use each other with no withdrawal fees.

    Thank you

    • Staff
      Anndy | May 12, 2016

      Hi Kerrie,

      Thanks for your comment.

      When you are overseas, you should be able to use your Bankwest credit card wherever you see the MasterCard logo. That allows you to make hassle-free payments and access your funds from many locations. The same is true for CBA credit cards with MasterCard logo.

      Cheers,
      Anndy

  3. Default Gravatar
    Julie | May 9, 2016

    Travelling to South America but have purchased my airline tickets would I be still eligible for free travel insurance if I applied for a platinum credit card

    • Staff
      May | May 9, 2016

      Hi Julie,

      Thanks for your inquiry.

      The Bankwest complimentary travel insurance is available for Bankwest World MasterCard, Platinum MasterCard and Gold MasterCard cardholders. You will automatically become eligible for this international travel insurance when you meet all of the following eligibility criteria:

      1. Purchase a return overseas travel ticket before leaving Australia;

      2. Spend at least A$500 on prepaid travel costs (i.e. cost of return overseas travel ticket; and/or airport/ departure taxes; and/or prepaid overseas accommodation/travel; and/or any other of their prepaid overseas itinerary items); and

      3. Pay the A$500 by one (or a combination) of the following methods: Charge your eligible credit card account and/ or; redeeming your Bankwest More Rewards points; and/ or paying with redeemable travel agency flight vouchers obtained by converting your Bankwest More Rewards points.

      You may find more information about Bankwest complimentary travel insurance on this page.

      I hope this has helped.

      Cheers,
      May

  4. Default Gravatar
    Matt | April 25, 2016

    With zero fees charged for the use of overseas atm on the card, can I load the card and have it in credit, then when overseas access my money via an ATM. If I do this will I be charged a cash advance fee? Could you also send the MasterCard foreign exchange tool?

    • Staff
      May | April 26, 2016

      Hi Matt,

      Thanks for your question.

      Loading your credit card with funds is possible. Depending on the current state of your credit card account:

      1. If your account has no outstanding balance - it will make your card in a positive balance. So withdrawing your own funds won’t charge you with a cash advance fee, but please be aware that if you make withdrawals at non-Bankwest ATMs, you will still be charged with ATM fees. Moreover, if you withdraw money that is more than your loaded funds (money from your credit limit), then it will be considered as a cash advance and fees/interests will be charged to your account. Example, if your credit limit is $1,000 and you loaded $500 onto it to make it $1,500. So if you withdraw 600, the bank will charge you with cash advance fee and interest, but if you withdraw $500, you won’t incur any charge/fee.

      2. If your account has outstanding balance – any amount you load onto your credit card will only be treated as payment.

      In the meantime, as requested, I’ve emailed you the MasterCard foreign exchange tool.

      I hope this has helped.

      Cheers,
      May

  5. Default Gravatar
    N | April 25, 2016

    When a transaction is made against this card overseas do I pay the currency conversion rate?

    • Staff
      Anndy | April 25, 2016

      Hi N Curac,

      Thanks for your question.

      If you’re going to use your Bankwest Zero Platinum MasterCard overseas, you’ll not be charged with foreign currency conversion fees.

      Cheers,
      Anndy

  6. Default Gravatar
    Hilary | April 25, 2016

    Are you situated in Australia or America?

    • Staff
      Ysa | April 25, 2016

      Hi Hilary,

      Thanks for your question.

      Please note that you have reached finder.com.au, an online comparison service here in Australia.

      On a side note, you may wish to check our US finder.com page if you’d like to compare credit card options in the United States.

      Cheers,
      Ysa

  7. Default Gravatar
    roger | April 17, 2016

    With Bankwest platinum card no conversion fees, what is the conversion rate used for Monday 18th April for euro and UK money?

    • Staff
      May | April 18, 2016

      Hi Roger,

      Thanks for your inquiry.

      If you’re going to use your Bankwest Zero Platinum MasterCard overseas, you will not be charged with foreign currency conversion fees. As for the foreign exchange rate on the 18th of April, you may like to check it through the MasterCard foreign exchange tool I’ve sent to your email.

      Hope that helps.

      Cheers,
      May

  8. Default Gravatar
    Marissa | April 17, 2016

    What is the minimum income requirement for this credit card?

    • Staff
      May | April 18, 2016

      Hi Marissa,

      Thanks for your inquiry.

      Just to confirm though that you have come through to finder.com.au and not Bankwest.

      Unfortunately, we’re unable to provide the exact amount of how much is the minimum income requirement for the Bankwest Zero Platinum MasterCard. I’m afraid you’ll need to get in touch with Bankwest directly to inquire. I have sent to your email their contact details.

      Meanwhile, just want to give you a general information, most banks’ / credit card institutions’ minimum income requirement will vary depending on the type of credit card. Low rate credit cards and no annual fee credit cards have the lowest minimum income requirements out of all the different types of credit cards on the market; while platinum, diamond, and black credit cards have the highest income requirements.

      Furthermore, as banks have their own set of lending criteria, one bank may accept an applicant with an income of $15,000 p.a. while the other may require that the applicant earns at least $20,000 p.a.

      Hope this helps.

      Cheers,
      May

  9. Default Gravatar
    | April 8, 2016

    I have a question about the complimentary insurance. Regarding the Extended Warranty Insurance, what happens regarding cover if the personal the good in particular was partially paid by the credit card?

    Say I bought something that would be covered but I only used the credit card to pay for half of it (and half in cash)?

    Question two: Regarding International Travel Insurance.
    It says that the spouse and/or dependent children of the cardholder are automatically eligible for cover. What about a partner whom you are not living with but travelling with? Naturally when purchasing tickets this would be twin share. Would she also be covered?

    • Staff
      May | April 21, 2016

      Hi Aran,

      Thanks for getting in touch.

      As stated in the Bankwest complimentary travel insurance PDS, your ‘travel companion’ is also covered. As for the extended warranty insurance, to be eligible, you may need to use your Bankwest credit card on the purchase the product. I have sent to your email the PDS for your reference.

      I hope this helps.

      Cheers,
      May

  10. Default Gravatar
    Judy | March 30, 2016

    Can the 6 months travel insurance be used over several trips? and once the 6 months has been used is there any more travel insurance offered?

    • Staff
      Ysa | April 5, 2016

      Hi Judy,

      Thanks for your question.

      Yes, the 6 months travel insurance can be activated over several trips provided that you have paid $500 for the travel expenses (i.e. cost of return overseas travel ticket; and/or airport/departure taxes; and/or prepaid overseas accommodation/travel; and/or any other of prepaid overseas itinerary items) on your credit card before you leave Australia and ensure that it must be related to the travel you’re planning to go on.

      However, please also note that you should pay for the $500 before heading on your trip. Otherwise, the insurance will no longer take action because it wasn’t paid before the trip.

      Should you wish to confirm about your travel insurance, you can call the customer service line which is stated at the back of your credit card.

      I hope this helps.

      Cheers,
      Ysa

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Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
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