American Express Westpac Altitude Platinum Credit Card Bundle® (Velocity) | Review & Apply

American Express Westpac Altitude Platinum Credit Card Bundle® (Velocity)

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purchase rate
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American Express Westpac Altitude Platinum Credit Card Bundle® (Velocity)
Apply by 31 mar 20
American Express Westpac Altitude Platinum Credit Card Bundle® (Velocity)
Earn up to 75,000 bonus Velocity Points when you apply for the two-card bundle issued by Westpac and Amex until 31 March 2020. (Conditions Apply)
Reduced Annual Fee of $200 p.a. in the first year.
Earn up to 1.5 Velocity point per $1 spent on eligible overseas purchases. (Amex)
Add to comparison
-
20.49% p.a.
ongoing
$200
1st year
then $249

Pros & cons

What's good?

What's not so good?

Earn up to 75,000 bonus Velocity Points when you apply for the two-card bundle issued by Westpac and Amex until 31 March 2020. (Conditions Apply)
Westpac Altitude Platinum Mastercard® Card: 60,000 bonus Velocity Points, when you spend $3,000 on eligible purchases within 90 days of card approval. (Exclusions apply. Velocity rewards fee applies)
American Express Westpac Altitude Platinum Card: 15,000 bonus Velocity Points, when you spend $3,000 on eligible purchases within 90 days of card approval. (Exclusions apply)
Reduced Annual Fee of $200 p.a. in the first year (Amex – $0, Mastercard – $150 plus $50 Annual Velocity Rewards Fee).
Earn up to 1.5 Velocity point per $1 spent on eligible overseas purchases. (Amex)
Enjoy two (2) complimentary Economy X seat upgrade vouchers each year to use on selected domestic flights. Available when you spend with Virgin Australia on your Mastercard.
Tap & go™ quickly and easily using your Mastercard® for a faster transaction.
For information about the points earning rate of other Rewards program options of this card, please click here: Qantas or Altitude.
*There is a $50 Velocity Rewards opt-in fee if you choose to earn Velocity Points through the Altitude Velocity rewards program.
The annual fee of $249 p.a. is quite high, which is computed as $49 p.a. (American Express) + $150 p.a. (Mastercard®) + $50 (Velocity Rewards opt-in fee).

The interest free period is the maximum number of days during which interest is not charged on new purchases. If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.

American Express:
Purchase rate: 20.24% p.a.
Cash Advance rate: Not applicable

Mastercard®:
Purchase rate: 20.49% p.a.
Cash Advance rate: 21.49% p.a.

Receive both rewards cards in one single application. Westpac Mastercard® issued and serviced by Westpac. AMEX Westpac Altitude Card issued & serviced by American Express.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the American Express Westpac Altitude Platinum Credit Card Bundle® (Velocity)Reviewed by Yvonne Taylor

Why settle for a mere 60,000 Velocity Frequent Flyer bonus points when there are 75,000 yours for the asking? The American Express Westpac Altitude Platinum Credit Card Bundle (Velocity) brings you all the great features of Westpac’s standalone Velocity points Mastercard, but couples it with an Amex card so that you can get more bonus points and earn ongoing points at a faster rate.

It means that you’ll receive two credit cards – a Mastercard from Westpac and an Amex card from American Express – via a single application. You’ll access a high points earning rate with no cap, a host of complimentary benefits, and a discount on the first year’s annual fee.

75,000 bonus points for a flying start

Make $3,000 worth of purchases with the Mastercard in the first 90 days, and receive 60,000 Velocity bonus points. Spend a further $3,000 using the Amex card and another 15,000 points will be yours.

That’s an average spending rate of $2,000 per month for the first three months, an achievable target for most people looking at a platinum card, especially if they can plan the timing of a major purchase to coincide with this offer.

But if you think that you might not reach the $6,000 target and maximise your points, concentrate all your spending on the Mastercard at first. It has a lower ongoing points earning rate than the Amex card (see below) but it’s worth sacrificing a few standard points for the sake of locking in those 60,000 bonus points. If you’ve reached $3,000 of spending and still have a few weeks left, put the Mastercard away temporarily and switch to spending with the Amex card to chase those final 15,000 points to put the icing on the cake.

Those 75,000 Velocity points, plus the 4,500 points you would earn for spending $3,000 on each card, are more than enough for five return economy flights between Sydney and Melbourne or Brisbane (78,000 points) or a pair of return economy tickets to Fiji (71,200 points).

Healthy ongoing points earning rates

Once the bonus points are out of the way you’ll still want to earn points at a satisfying rate, and the presence of the Amex card means that this bundle will not disappoint you. The rates are:

  • Amex card: 1.5 points per dollar spent in foreign currency, while travelling or online
  • Amex card: 1.0 points per dollar spent in Australia, except
  • Amex card: 0.5 points per dollar spent with government bodies such as the ATO and Australia Post
  • Mastercard: 0.5 points per dollar spent on all purchases, in Australia and overseas

There is no points cap or threshold on the earning rates. You’ll earn points at these rates on all eligible purchases, no matter how much you spend.

Lots of ways to spend your points

Flights or upgrades with Virgin and its worldwide airline partners are definitely the most cost-effective way to spend Velocity points, but you can also exchange them for a range of merchandise from the online store, as well as retail gift cards, movie tickets, travel and accommodation and charity donations.

Lots of complimentary benefits to add to the card’s appeal

Use as many of these complimentary perks as you can and save heaps. They include:

  • Overseas travel insurance: An annual, multi-trip policy covering trips up to three months’ duration, activated by using the card for at least $500 of each trip’s prepaid expenses.
  • Transit accident cover: Provides compensation for serious accidents sustained on public transport.
  • Purchase security: Cover for your card purchases against theft, accidental damage or loss, for three months after your purchase.
  • Extended warranty: Doubles the manufacturer’s Australian warranty period, up to a maximum of 12 additional months.
  • Economy X seat upgrade vouchers: Provided you make at least one purchase each year using your Mastercard, you’ll receive two Virgin Australia Economy X seat upgrade vouchers every year, redeemable against eligible Virgin Australia flights booked and paid for directly with Virgin Australia. (Find out if your flight is eligible by calling Virgin Australia on 1300 083 373.)
  • Concierge Service. 24/7 worldwide assistance with travel, entrainment and dining recommendations and bookings, or event planning.
  • Amex Offers: Discounts and special offers from retailers, updated regularly.
  • American Express Invites: Access to pre-sale event tickets and reserved seating.
  • Westpac Extras: Shopping cashback offers when using your Mastercard.

First year annual fee discount

The regular combined annual fee for the two cards is $249 – $150 for the Mastercard, plus a fee of $50 for the Velocity points program, plus $49 for the Amex card. But the Amex card fee is discounted to $0 in the first year, meaning that you’ll pay only $200 for the card bundle in the first 12 months.

There is no annual fee payable for supplementary cards on either card account.

Unappealing interest rates

Prospective platinum cardholders are unlikely to be deterred by the high interest rates – 20.49% p.a. for purchases and 21.49% p.a for cash advances on the Mastercard, and 20.24% p.a. for purchases on the Amex card (cash advances not available) – since they probably plan to sidestep them altogether by paying off their card balance in full each month and avoiding cash advances.

45 interest-free days, not 55

Some credit cards offer up to 55 interest-free days on purchases to cardholders who do not carry a balance on their account from month to month. However, this card is not one of them, because you’ll be required to make your full payment around 15 days (not the longer 25 days) after the end of the monthly billing cycle, if you want to avoid interest charges.

Which other cards offer bonus Velocity points?

Westpac, Virgin Money and American Express all have a range of credit cards earning Velocity points on purchases, with various points earning rates, complimentary benefits and annual fees. Compare them with this card by visiting the Velocity page in our Features section.

A card for regular travellers who choose to fly with Virgin

This card is aimed at well-heeled regular travellers who prefer to fly with Virgin Australia and its international airline partners. Frequent flyers who actually fly are the ones who will derive most benefit from the bonus points, ongoing points on purchases and travel-oriented complimentary benefits.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Dual Card
Card tier
Platinum
Card type
Mastecard & Amex
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$30,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Velocity Frequent Flyer
Temporary residents
N/A

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
$50,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 45 days on purchases
Minimum repayment
2%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.79% 21.49% p.a.
Purchases 1.71% 20.49% p.a.

Fees

Annual fee
$200 p.a.
Annual fee 2nd year
$249 p.a.
Cash advance fee
whichever is greater, $2.50 or 2%
Dishonour fee
$9
Duplicate statement fee
$2
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
$0
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$2.5
Overseas emergency card replacement fee
$0
Transaction verification fee
$0

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
75,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Spend required for bonus points
$3,000 (AmEx) and/or $3,000 (MC) in 90 days

Earning points with this card

Frequent flyer points (AmEx)
1 pt per $1 spent
Frequent flyer points (MC / Visa)
0.5 pts per $1 spent
Overseas earn rate (AmEx)
1.5 pts per $1 spent
Overseas earn rate (MC / Visa)
0.5 pts per $1 spent
Points cap per month (AmEx)
N/A
Points cap per month (MC / Visa)
N/A
Points cap per year (AmEx)
Unlimited
Points cap per year (MC / Visa)
Unlimited
Points earned on ATO payments (AmEx)
0.5 pts per $1 spent
Points earned on ATO payments (MC / Visa)
N/A
Reward points (AmEx)
(refer to "Pro" section)
Reward points (MC / Visa)
(refer to "Pro" section)

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $30,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Age Pension, Disability Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Child Support Payments, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are acceptable.
Joint applications are not allowed
Overseas Pension is not acceptable.
Carer's Allowance is not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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