Westpac Credit Cards

An Overview of Westpac

Westpac is one of Australia’ most important financial institutions, one of the ‘big four’ banks and amongst the country’s largest providers of credit cards. Westpac credit cards offer a mixture of low rates, no annual fees, attractive balance transfer deals and a range of beneficial rewards programs. The credit cards presented on our comparison table are designed for different types of customer; take the time to consider the various deals and you could find a card that’s right for you.

Westpac’s History

Westpac has a long and notable history, distinguished as Australia’s first and oldest bank. The company was established in 1817 as the Bank of New South Wales, based in Sydney. The Bank of New South Wales was the country’s first official bank, created under a charter provided by Governor Lachlan Macquarie. The company faced a major set back in 1821 when the Chief Cashier stole half of the bank’s capital, which was never recovered, but survived and thrived during the gold rush of the mid-19th Century. The bank expanded greatly over the next few decades, with new branches opening in Brisbane in 1850, Victoria in 1851, New Zealand 1861, South Australia in 1877, Western Australia in 1883, Fiji in 1901, and Papua New Guinea and Tasmania in 1910.

The bank continued to expand its operations throughout Australia and Oceania during the 20th Century with a series of acquisitions including Western Australian Bank in 1927 and Australian Bank of Commerce in 1931. In 1982, The Bank of New South Wales merged with the Commercial Bank of Australia Ltd under the new name of Westpac Banking Corp. The name is an abbreviation of Western-Pacific, reflecting the bank’s presence in Australia and Oceania. The new group was the largest banking operation in Australia, and continued to grow with further acquisitions in the 1990s including Challenge Bank Ltd, the Trust Bank New Zealand and the Bank of Melbourne. In December 2008 Westpac merged with St.George Bank, making a much larger multi-brand banking group, one of Australia’s 'big four’ banks and the second-biggest bank in New Zealand.

Westpac Today

Following the 2008 merger with St.George, Westpac currently serves 10 million customers with a total of almost 1,200 branches, the largest bank branch network in Australia, and also operates a network of 2,800 ATMs. Westpac is Australia’s second-largest bank by assets, second-largest provider of home lending and the county’s third-largest credit card provider. It is also recognised as one of the world’s most socially responsible banks, with a list of corporate standards outlined in its Social Impact Report, which was published in 2002. From 2004 to 2007, the Dow Jones Sustainability Index identified Westpac as the most sustainable bank in the world.

Services and Products

Westpac presents the full range of banking products and service to personal customers, businesses of all sizes and corporate clients. Business services include accounts, credit cards, business loans, merchant services, insurance, international trade and advice for businesses at every stage of their development. Personal banking services include transaction accounts, credit cards, home loans, personal loans, insurance and investments. Personal customers are also offered expert financial advice on specific situations such as buying homes, student accounts, investing money and planning for the future including retirement schemes.

Online

Westpac Online Banking offers simple and secure access to a range of everyday banking services such as checking balances, bill payments, transferring money and much more. Customers can view account transactions from the last 100 days and view and print copies of all statements from the previous seven years. Westpac uses the latest technology to protect customers’ personal data and money online.

Customers can also access online banking services on mobile devices using Westpac’s mobile apps available for iPhone, Android and Blackberry phones.

Westpac Credit Cards

As one of Australia’s largest providers of credit cards, Westpac presents a wide range of card designed to suit all types of customer.

The Westpac Low Rate Visa Card or MasterCard is a simple, accessible no-frills credit card with a competitively low interest rate, 55 interest free days on purchases when you pay your monthly balance in full by the due date, and the option for a low interest balance transfer. Westpac’s 55 Day Visa Card or MasterCard also offers 55 interest free days when you repay your monthly bill on time, and a no annual fee for the first year. It too features the option for cheap balance transfers to Westpac from other banks. The Gold and Platinum 55 Day Visa Card or MasterCard each offer a range of complimentary insurance benefits.

Earth is Westpac’s Qantas Frequent Flyer Rewards credit card, offering two credit cards, one American Express and one MasterCard, both linked to one account with one credit limit and one annual fee. Customers earn Qantas frequent flyer points on eligible purchases with their Earth credit cards and enjoy complimentary Qantas Frequent Flyer membership with no points capping or tiering. Earth also offers the option for low interest rate balance transfers. Gold and Platinum versions of the Earth credit card offer an wider range of extra features and benefits than the basic version.

The Westpac Altitude credit card provides access to the Altitude Rewards program, with two credit cards, one American Express and the choice of either an additional MasterCard or Visa credit card. Both cards are linked to a single account with one credit limit and one annual fee. Customers earn Altitude points on purchase with no points capping or expiry, and can redeem these points for a wide range of rewards including flights and retail products. The card also offers a low rate on balance transfers for new customers.The Gold version features a range of complimentary insurance covers, while the Platinum version offers even more rewards points and Altitude Platinum privileges.

Westpac also have credit cards linked to Singapore Airlines’ popular KrisFlyer rewards program. The Singapore Airlines Westpac Gold credit card features two credit cards linked to one account, with a single monthly statement, one annual fee and one credit limit, and offers the chance to earn maximum Singapore Airlines Krisflyer Frequent Flyer points. The upgraded platinum version offers the same features, but with extra points and premium benefits.

Westpac Altitude Rewards

Altitude Rewards is Westpac’s loyalty program, offering you the chance to earn points on everyday purchases, with no points capping or expiry while you remain an Altitude member. Points can be redeemed for a huge variety of flights, products and services selected from the Altitude online store. As with other credit card rewards programs, you get the best benefits when you use your Altitude Rewards card frequently, keep up with monthly payments and maintain your Altitude Rewards account.

Q: How do I earn Westpac Altitude Rewards points? A: As an Altitude Rewards member you earn points on every dollar spent on purchases using your Altitude credit card. Your Altitude credit card account is linked to two cards – one American Express and the choice of either one MasterCard or one Visa credit card. Purchases made using your Altitude American Express card earn extra points. Gold and platinum Altitude accounts offer the chance to earn more points on purchases, while dollars spent on purchases from Altitude bonus partners earn bonus points. Check the terms and conditions to see exactly how many points are earned on different purchases with different Altitude cards.

Q: What can Westpac Altitude Rewards points be redeemed for? A: Altitude points can be redeemed for a huge selection of rewards at Altitude Rewards online store. The store offers approximately 1,000 products, 100 travel destinations with 10 airlines and 200 hotels. Retail products available include electronics, homewares and appliances, leisure and fitness, luxury goods, entertainment and experiences, financial services, vouchers and gift cards. The online store also features regularly updated special offers and the premium Platinum Collection.

Q: Are Westpac Altitude Rewards points capped? A: As long as you maintain your Altitude Rewards account there is no capping on points, so you can earn an unlimited number of points.

Q: Do Westpac Altitude Rewards points expire? A: As with capping, there is no expiry on Altitude Rewards points, as long as you maintain your Altitude account. You should use your card regularly and keep up-to-date with monthly balance payments in order to get the best benefits from your credit card. Always study the small print of the terms and conditions before applying for any credit card reward scheme.