Bankwest More Mastercard

What do you want this card for?
Save money
Earn points
My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
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Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
Bankwest More Mastercard
19,500 annual bonus points when you spend $24,000 on eligible purchases in the year.
0% p.a. on balance transfers for 6 months
Earn up to 1.5 pts per $1 spent on eligible purchases.
Add to comparison
6 months
0% p.a.
then 19.99%
with a 1% fee
19.99% p.a.
ongoing
$100
ongoing

Pros & cons

What's good?

What's not so good?

19,500 annual bonus points when you spend $24,000 on eligible purchases in the year.
0% p.a. on balance transfers for 6 months.
Free worldwide emergency card replacement.
Earn up to 1.5 pts per $1 spent on eligible purchases.
Use your points for webjet flights, hotels, gift cards and the latest merchandise.
Up to 3 additional cardholders for free.
Pay faster using Mastercard PayPass and Google Pay.
The annual fee of $100 p.a.
1% balance transfer fee.

Our review

Our review of the Bankwest More MastercardReviewed by Yvonne Taylor

You want more? You want ongoing rewards points and bonus points and a zero-interest balance transfer? You may want to take a detailed look at the Bankwest More Mastercard, because there are even more features to discover.

Earn More Rewards at 1.5 pts per $1 spent

It’s difficult to compare the earnings rates of rewards cards attached to a proprietary rewards program like this one, since there is a wide variation in rewards and redemption rates offered. This card delivers rewards points at the rate of 1.5 pts per $1 spent on eligible purchases, which means that for a $100 cashback into your Bankwest More Mastercard account you need to make $25,333 of card spending (38,000 points).

Score substantial bonus points after sizeable annual expenditure

Many credit cards offer bonus points to new cardholders in return for meeting a relatively low spending target, e.g. $2,000, in the first two or three months of holding the card. That’s fine in the first year, but there are usually no bonus points on offer in subsequent years.

But Bankwest does things a little differently. Every year, on the anniversary of your card approval, you’ll receive 19,500 bonus points (potentially worth around $51 in cashback) provided you have spent at least $24,000 on eligible purchases during the year. Spending an average of $2,000 per month is a fairly big ask, but it’s a bonus you could in theory earn every year, not just the first.

Annual points cap includes the bonus points

There’s an annual cap of 150,000 points, after which you can earn no more points until the day following your card anniversary. Unfortunately, this cap includes the 19,500 bonus points, effectively reducing your possible standard points to 130,500 per year, or $87,000 worth of spending. But if you expect to exceed an average monthly spend of $7,250, you should be looking at a premium card with a much higher points earning rate and cap.

More Rewards redemption options

If you do manage to spend $2,000 per month on this card you’re going to earn 55,500 points every year. That opens up a wide range of points redemption possibilities, because those 55,500 points would buy you any one of the following:

  • Cashback: $145 cashback
  • Retail gift vouchers: around $152 in eGift cards
  • Movie tickets: 2 x Village/Event Gold Class double passes (i.e. four admissions)
  • Hotel accommodation vouchers: around $152 in vouchers for Ibis, Crown, Mercure, Novotel, and more
  • Virgin Australia: $152 worth of travel vouchers
  • Entertainment experiences: a 15-minute Jet Pack flight
  • Two magazine subscriptions: 12 months of both Better Homes & Gardens and Australian Women’s Weekly (many more to choose from)
  • Merchandise from an online catalogue: e.g. a Nikon Coolpix A100 camera

Transfer your balance and pay 0% p.a. interest for 6 months

If you think this is a credit card that will suit you in the long term, you may wish to consider taking up the balance transfer offer in the short term. You can transfer balances from your existing cards and pay 0% p.a. interest at all for 6 months, although there is a 1% transfer fee to pay.

There is clearly money to be saved or made here, whether you’re going to avoid interest on a debt or earn interest by putting cash on deposit instead of using it for repayments. But bear in mind that having an unpaid balance transfer will deprive you of the card’s normal interest-free days – up to 44 in this case.

In this situation you’d want to avoid using the card for purchases for 6 months, which would make it difficult to earn the bonus points in the first year. Since the bonus points are worth $51 in cashback, you need to be sure that the balance transfer is saving you more than $51.

If you’re in debt, $5,000 transferred from a 20% p.a. card would save you a net $445 after paying the 1% fee. If you’re were going to put the repayment cash in a 3% savings account, your net earnings would be only $25, so hardly worth the effort.

Free emergency card replacement

If you’ve ever had the nerve-racking experience of losing your credit card, or having it stolen, at a time when you really need it (such as when travelling overseas), this card’s free emergency replacement service will be welcome news. You can have a new card sent by courier to wherever you are in the world, without having to fork out the hundreds of dollars charged by some other cards.

Discounts and giveaways at Perth Arena

Here’s a tasty little extra for Perth residents and visitors: a 10% food and beverage discount at the Perth Arena, plus Backstage Lounge access and ticket giveaways. It’s not going to affect your decision if you are thinking of becoming one of Bankwest’s many customers outside WA, but it’s worth remembering that the benefit is there.

High credit card interest rates

This isn’t a low-rate card, so the interest rates are typically high: 19.99% p.a. for purchases (also the balance transfer revert rate) and 21.99% p.a. for cash advances. Avoid them both if at all possible, by paying off your purchases balance and balance transfer before they start to attract interest, and by steering clear of cash advances.

Low minimum credit limit

If you’d rather not trust yourself with a high credit limit, you can opt for a limit as low as $1,000 on this card.

No complimentary insurance means annual fee is reasonable

Although this is a rewards card it’s not a platinum complimentary benefits card, so there are no insurance policies to find their way into the costing for the annual fee. The moderate $100 annual charge could be recouped by spending $24,000 in order to earn the 36,000 points necessary for a $100 retail gift card. And $24,000 is also the magic number for earning those 19,500 bonus points, putting you immediately ahead from a cost versus benefit viewpoint.

Up to 3 additional cardholders, free of charge

Earn points faster by applying for an additional card for your spouse or other close family member. You can have up to three supplementary cards on your account for no extra charge.

Other uncomplicated rewards cards

If a rewards card like this, unencumbered with complimentary insurance, is what you’re looking for, take a moment to compare the competition. Visit our 'All rewards’ page (found by clicking 'Features’ at the top right of this page) to check out other rewards cards with low annual fees, and even some American Express Membership Rewards cards with no annual fee.

'No strings attached’ rewards points

The Bankwest More Mastercard is ideal for anyone who wants more from their card, in the shape of rewards for being a loyal customer, without having to pay for unwanted insurance policies. In fact, if you channel as much of your spending as possible through the card you should have no problem earning the bonus points year after year, meaning that the card will pay you rather than the other way around.

User reviews

3.2 out of 5.0 based on 7 reviews43% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Hassle-free, safer than cash

Reviewed and recommended by Cherril on 14 Oct 2016

I have a MasterCard for emergency use only, therefore it is not used that often. I always try to pay it off within the month so that there are no fees or high interest to pay. If i use the card in this way my yearly fees are waived and i never have interest to pay.

So I have a card that gives instant cash in any situation, which is safer than carrying a spare few thousand dollars around in my wallet. It’s convenient, hassle-free, and fantastic to know it’s there as a back-up emergency plan.

It's not bad, yet not the best

Reviewed and not recommended by Paul on 21 Sep 2016

The bank has been very helpful all the time. When I needed help it was easy to get via the phone.

My card fees are bigger than I would like, but all in all it’s not too bad a card. It’s good not being able to overdraw, which I thought was a handy thing.

Spend a lot for average rewards

Reviewed and not recommended by Ricky on 23 Aug 2016

As the title suggests, you must spend a lot to get an average amount of reward points. On the positive side, the time frame for points expiration is a fairly long time.

Cash back as a reward is a good bonus. There should be a card that combines rewards along with, say, Virgin Airlines or similar frequent flyer points .

My BankWest More Mastercard is terrific!

Reviewed and recommended by Paul Breen on 13 Mar 2015

My BankWest More MasterCard is widely accepted and easily used. Interest rate is low. Couldn’t get a better credit card. Have used it for internet purchases and am extremely happy with the security. Whenever I have had a query this is answered promptly and efficiently with a minimum of fuss.

Fees and charges are exorbitant

Reviewed and not recommended by Dotty on 28 Sep 2013

Fees are way too high! I think with the profits that banks make, they are overcharging for fees on credit cards. What more can you say – the fees are exorbitant! This is really annoying me – there is no more to say! What sort of game is this? Fees are too high!

Reasonably good deal

Reviewed and recommended by Helen on 17 Aug 2013

Bankwest is a reasonably good credit card. The bank has lots of ATM’s these days but the interest rates are better elsewhere, like ANZ and Commonwealth Bank. This is mainly good for daily transactions, but I don’t spend a lot of money, otherwise i would rack up a lot of debt!

I would not recommend this bank

Reviewed and not recommended by Joy on 02 Aug 2013

I’m not happy, and I would not recommend this bank to anyone the interest charged to me is too high and I have had no incentives I have never had any bonuses given to me. I would not recommend this bank. I will find another bank to offer me better.

Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Standard
Card type
Mastercard
Card use
Personal
Credit rating
N/A
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$19,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
More Rewards
Temporary residents
Yes

Cardholders

Additional cardholders
3
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$1,000
Maximum credit limit
$25,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months1%95% of credit limit19.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
95% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Bankwest More Mastercard at the promotional balance transfer rate from:

  • Bankwest

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months1%95% of credit limit 19.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.83% 21.99% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$100 p.a.
Cash advance fee
2%
Dishonour fee
$10
Duplicate statement fee
$1.25
Foreign exchange fee
2.95%
Late payment fee
$25
Over limit fee
$30
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$4
Overseas emergency card replacement fee
$0
Transaction verification fee
$12

Rewards & points

Rewards program basics

First purchase bonus
N/A
Reward points expiry
N/A
Rewards program
More Rewards
Sign up bonus
N/A
Spend required for bonus points
$24,000 in 1 year

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
Same as standard earn rate
Points cap per month
N/A
Points cap per year
N/A
Points earned on ATO payments
N/A
Reward points
1.5 pts per $1 spent

Additional benefits

Airport lounge access
N/A
Complimentary flight voucher
No
Concierge service
No

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 $19,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension is acceptable.
Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are not acceptable.
Income from pensions is not allowed
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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