Bankwest Breeze MasterCard

• 0% p.a. intro purchase rate for 6 months (until 31 May 2012)
• Australia's lowest MasterCard purchase rate of 10.99% p.a.
• Up to 55 days interest free
• 4.99% p.a. for the first 9 months on non-Bankwest credit card balance transfers
• No foreign exchange fees on Breeze Platinum
• Up to three additional cardholders at no additional fee
• Read the terms and conditions

• Low interest on balance transfers and purchases.
• Cheap $49 p.a. annual fee.
• No rewards program.
• Balance transfer offers with lower interest rates are available.

How does the Bankwest Breeze MasterCard compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	Bankwest Breeze MasterCard	10.99%	21.99%	$49	4.99%	9 months
	The Average Credit Card	17.17%	21.04%	$95	3.04%	7 months

You can transfer from:



• ANZ
• Aussie
• Bank of Melbourne
• Bank of Queensland
• Bank SA
• Citibank
• Coles
• Commonwealth Bank
• HSBC
• NAB
• St.George
• Suncorp
• Virgin
• Westpac
• Woolworths

You cannot transfer from:



• Bankwest

The Bankwest Breeze Mastercard offers you low interest rates and a low $49 p.a. annual fee with a low interest rate 4.99% p.a. balance transfer offer lasting 9 months for new customers. It’s one of the cheapest cards available in terms of interest rates and fees, especially with the introductory low interest rate for new customers. It’s a no frills card designed to save you as much money as possible, whether you are using it for a balance transfer or to purchase with. If you want to get your finances under control, the Bankwest Breeze Mastercard isn’t a bad place to start.

Pros

Interest rates are certainly in your favour. Purchases made with the Bankwest Lite Mastercard are charged at the rate of 10.99% p.a., which is very low. Compare the Bankwest Breeze Mastercard with the rest of the market and you can see why we think it is one of the cheapest cards to have.

But the savings don’t stop there! Although it lacks a 0% balance transfer deal, the introductory offer of 4.99% p.a. for 9 months is still very cheap. But it is the rate at which the remaining balance transferred will be charged once the introductory period passes that is of note. The balance transfer rate reverts to the low 10.99% p.a. purchase rate, which is much cheaper than the average purchase rate charged. What this means is that you can bank on a low rate not just for the introductory period, but on an ongoing basis. You can save hundreds of dollars and pay off your credit card debt much faster!

Additionally you can conveniently access your account online 24/7, you can use it nearly anywhere (at 29 million outlets worldwide) and you can have up to 3 additional card holders for free. BankWest are so confident of their online security system that they guarantee your money and personal details.

Cons

The great introductory interest rates on balance transfers do revert back up to a higher rate once the promotional period is up, but the rate it reverts to is still really good. However, the promotional interest rate on balance transfers specifically could be more competitive. Other cards such as the ANZ Low Rate MasterCard and Aussie MasterCard have similar balance transfer periods, but charge a lower interest rate. On the flip side though, these competing cards charge more interest once the promotional offer expires.

This is a fairly basic credit card built to save customers money, so it’s hardly surprising that there is no rewards program, although that would be a welcome addition considering many customers will take advantage of the low introductory and ongoing purchase rate and use their card to spend with. If you want a rewards program where you are rewarded with points per dollar spent, then the Bankwest Breeze is not for you.

With credit cards you always have to weigh up whether your income, spending level and usage suit the card and whether the card will actually benefit you. Sometimes the perks advertised sound great but you may not spend enough to reap the rewards in which case annual fees etc. could be costing you rather than saving you! Likewise, remember that having a ‘cheap’ credit card won’t benefit you unless you make sure you’re on top of repayments, as with any other credit card.

Conclusion

The Bankwest Breeze Mastercard is fantastically cheap. With low interest rates on purchases and balance transfers that revert to a low standard purchase rate, this card can really save you a lot of money. It may not have the rewards programs of other cards, but if saving money or consolidating your debt is what you want to do, then this is an offer that’s hard to pass up.