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.
Purchase rate: 20.24% p.a.
Cash Advance rate: Not applicable
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.
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:
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:
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.
|Cash advances||1.79%||21.49% p.a.|