Frequent Flyer Credit Card Analysis: Singapore Airlines Platinum

Information verified correct on September 29th, 2016

If you are a person who travels a lot whether for leisure or for business, enrolling in a certain airlines’ frequent flyer program might be the most suitable thing for you. Not only can you get great rewards, but free flights as well.

Compare Westpac credit cards here

Westpac no longer accept new applicants for the Singapore Airlines Westpac Platinum Card — it’s off the market. But if you are an existing Singapore Airlines Westpac Platinum Card account holder, your account will continue to function as normal. You may be interested in the Westpac Altitude card for a choice of either Altitude or Qantas rewards.

Frequent flyer programs are loyalty programs offered by different airlines to their customers. Customers can earn points through frequent flyer miles using kilometers, points, or segments – an equivalent 1 point is given for every mile you have flown. The points may vary from airline to airline; however, if you travel a lot, you will earn more points and get more rewards, such as travel class upgrades or priority bookings.

When it was first introduced, the primary method of gaining points was only through flying; but with the tie-ups to credit card companies, new ways of gaining points have been introduced, like shopping at participating outlets, booking a reservation at a particular hotel, or renting a car at a particular car rental company. With the partnerships between airlines, businesses, and credit card companies, customers can take advantage of promotional offers using their plastic to earn benefits at comparatively low rates.

Westpac Platinum Cards and Rewards

As the race for dominance of the sky among airlines becomes steeper, so does the competition among credit card companies. Nowadays, when you think of travel, it has become synonymous with platinum cards. Though once regarded as a status symbol, platinum cards have become common for those who have good credit standing. Platinum cards have become popular because of the rewards they offer, high credit limits, and low balance transfers.

One of the platinum cards that is available is Westpac’s Platinum Card. Westpac has partnered with Singapore Airlines to give their loyal customers more rewards and benefits.

In a nutshell, Westpac Platinum is a dual card account. It means that you get two credit cards – in this event, it’s the American Express Platinum and Visa Platinum – linked in a single account. By linking these two cards, you get only one monthly billing statement, one annual fee, and one credit limit. Through this linking system, consumers have more chances of earning points to get more rewards.

Therefore, to help you decide if the Singapore Airlines rewards program through a Westpac credit card is right for you, consider the benefits and drawbacks of the card.

Pros of the Singapore Airlines Rewards with Westpac

  • Initial KrisFlyer miles. KrisFlyer is Singapore Airlines’ frequent flyer program. With its partnership with Westpac, KrisFlyer miles are given as a sign up gift upon using either of your Westpac Platinum cards for the first time.
  • Great reward scheme. You can use either the Westpac American Express Platinum or the Westpac Visa Platinum and you get up to 1.50 KrisFlyer points for every $1 purchase on certain goods and services.
  • Convenient payment option. The Westpac Visa Platinum comes in to play here. For any purchases amounting to less than $100, you can use the Visa card without signing or giving the PIN. All you need to do is hold the Visa against a Visa payWave terminal.
  • A 45-day Interest free period. You have made your purchase, and now it is payback time. With Westpac Platinum, you are given a 45-day interest free period. This is enough time to make a payment without additional fees.
  • Low balance transfer rates. At balance transfer rate, it is one of the lowest in the market. You can also earn points when making a balance transfer.
  • Complimentary Insurance Cover. As the name suggests, you get free travel insurance. The policy covers you and all the members of your family up to 6 months and up to $500,000 in claims. Medical and cancellation coverage is unlimited as long as they are included in the travel policy list. There is even coverage for rental cars of up to $5,500. With travel insurance, you are covered while earning fabulous rewards.
  • Purchase Protection Insurance. This coverage protects any purchases made through the credit cards against theft, loss or damage. Unlike the 3-month coverage on gold cards, the platinum has a 4-month purchase protection cover.
  • Extended Warranty Insurance. This is an additional 12 months to the standard manufacturer’s warranty.
  • State-of-the-art security. This protects you and your money against fraudulent activities and unauthorised purchases wherever you shop.

Drawbacks of the Westpac Platinum Credit Card

  • No introductory rates. Unlike some credit cards, this one doesn’t have an introductory rate on purchases.
  • Annual fee. At $250 p.a. every year, this is quite expensive if you don’t intend to use this card as often as you plan. So, unless you love shopping and travelling, the Westpac Platinum is not for you.

The Singapore Airlines Platinum Card is full of rewards and benefits for those who love shopping and travelling. You can even earn free flights if you use it frequently. However, if you are looking for a card which you intend on necessary purchases only, then this may not be for you.

Platinum cards have really come a long way. From just being status symbols of the affluent, it has become a must-have for getting various benefits and rewards. And as long as you pay on time, you will continually enjoy the perks.

Back to top
Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

4 Responses to Frequent Flyer Credit Card Analysis: Singapore Airlines Platinum

  1. Default Gravatar
    Ross | September 21, 2016

    Hello,

    I am a pensioner with no supplementary income.
    My Veda score is “Good”.

    Are there any institutions that are willing to provide me with a low rate credit card?

  2. Default Gravatar
    Ann | January 23, 2012

    Can me and my husband have a set of cards each?

    • Staff
      Jeremy | February 10, 2012

      Hi,

      Thanks for the question. in order for both you and your husband to have a Westpac Singapore Airlines Platinum Credit Card one of you will have to be the primary card holder and one of you the secondary card holder. There is no fee for getting an additional card; however, the secondary card holder will not be able to perform actions like closing the account or increasing the credit limit. Cheers.

      Jeremy

Credit Cards Comparison

Rates last updated September 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback