Bankwest More Platinum Mastercard | Compare & Apply

Bankwest More Platinum Mastercard

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Bankwest More Platinum Mastercard
75,000 annual bonus points when you spend $48,000 on eligible purchases in the year.
Earn up to 2 pts per $1 spent on eligible purchases.
No foreign transaction fees and complimentary international credit card travel insurance.
Add to comparison
6 months
0% p.a.
then 19.99%
with a 1% fee
19.99% p.a.

Pros & cons

What's good?

What's not so good?

75,000 annual bonus points when you spend $48,000 on eligible purchases in the year.
0% p.a. on balance transfers for 6 months with 1% balance transfer fee. Reverts to 19.99% thereafter
Complimentary credit card travel international insurance for you and family travelling with you.
Earn up to 2 pts per $1 spent on eligible purchases.
Enjoy complimentary insurances along with this card.
No foreign transaction fees on online and overseas purchases.
Worldwide emergency card replacement.
Enable for Apple Pay, Google Pay or Samsung Pay.
1% balance transfer fee.
The $160 p.a. annual fee.
Points earning (including any bonus points) are capped at 400,000 annually.
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.

Our review

Our review of the Bankwest More Platinum MastercardReviewed by Yvonne Taylor

Which would you prefer – a card that gives you more or less what you need, or a card that gives you more for less? With an annual fee of $160 p.a., the Bankwest More Platinum Mastercard is certainly not the cheapest around, but it does offer real value for your money, especially when the high rewards points earning rate, the annual bonus points potential and the top-level insurance cover are all taken into consideration.

Uncomplicated rewards points earning rate

You won’t need a spreadsheet to get your head around the points earning rate. At 2 pts per $1 spent on eligible purchases (i.e. excluding cash equivalents like cash advances, balance transfers, purchases of foreign currency, interest charges and card fees) it couldn’t be simpler. The 400,000 points per year ($200,000 spending) cap won’t trouble anyone, unless they’re in an income bracket where serious points collection is inconsequential in any case.

Using a retail gift card redemption as a points value comparison rule of thumb, each Bankwest More Rewards point is worth 0.3 cents (based on a $100 gift card for 36,000 points). At 2 pts per $1 spent you’re getting a 0.6% discount on every dollar you spend.

Potential to earn – every year

The best way to use a rewards card, like this one, is to bring it out on every possible occasion without altering your spending pattern or level. Use it for everyday purchases (supermarket, transport fares, coffee, lunch, petrol station, business travel), regular bills (utilities, phone, vehicle registration) and less frequent indulgences (eating out, entertainment, fashion, technology and holidays).

This isn’t a card for low income earners, but for everyone else, limiting the use of cash should make it possible to meet the $48,000 annual spending target for the -. Tap & Go technology and Google Pay are all available, so using your card at all times couldn’t be easier.

Bonus points every year, not just the first

You may be asking yourself why you would want a card that expects you to spend $48,000 before you earn bonus points, when other cards are offering bonus points for spending as little as $2,000 in three months. The big difference is that these low target spending cards are only offering bonus points to new cardholders, and only at the very beginning of the first year. After that, there are no more big bonus points handouts. But Bankwest is giving you the chance to earn lots of bonus points every year, not just the first.

Bonus points wipe out the annual fee and put serious money in your pocket

Look at it this way: if you spent $48,000 in 1 year, you’d earn 96,000 regular points and 75,000 bonus points, a total of 171,000 points. Using the gift card redemption value of 0.03 cents per point, that’s worth $513, making the $160 annual fee seem insignificant.

Free additional cardholders

Reach that ‘$48,000 in 1 year’ even faster by signing up your partner for a supplementary card on your account. You can have up to three additional cardholders for no extra charge.

What else can you do with rewards points?

The gift card redemption value has already been discussed. But what else can you do with points?

You can:

  • Get a cashback to your card account
  • Exchange points for movie tickets
  • Subscribe to your favourite magazine for 12 months
  • Use points for a hotel accommodation voucher
  • Exchange points for gift vouchers with Virgin Australia and Flight Centre
  • Pay with Bankwest points at Webjet
  • Browse an online merchandise catalogue for thousands of options

From time to time items are offered 'on sale’ for fewer points than the normal requirement, delivering even better points value. There’s also a Points + Pay option if you don’t have quite enough points for your chosen redemption.

Top-level insurance cover

The 'complimentary’ insurance that accompanies many cards is not actually free, since the cost is factored into the annual fee. But since in this case you’d need to spend less than $30,000 ($2,500 per month) to wipe out the annual fee with rewards points, it could be argued that the insurance cover is
truly a free gift.

The policies in question are:

  • International travel insurance
  • Interstate flight inconvenience insurance
  • Transit accident insurance (overseas)
  • Extended warranty insurance
  • Purchase cover insurance
  • Price guarantee insurance

It can be boring to read the small print in order to compare credit card insurance policy cover, but it’s worth knowing that the cover given here goes beyond the standard packages. The overseas travel insurance covers trips of up to six months. Under the interstate flight inconvenience policy, one of the many benefits provides for reimbursement of holiday trip expenses if you have to cancel as a result of the unexpected retrenchment of the cardholder or their spouse.

Foreign transaction fees waived

Yet another boon for travellers is the waiver of all foreign transaction fees. (A 2.95% charge applies to some other Bankwest cards, in line with many other card providers.) Regular online shoppers will also appreciate this benefit.

Platinum concierge service

Bankwest provides a detailed booklet listing the benefits of its concierge service, available to platinum cardholders. If you’ve never used a concierge service you may be dubious about the value, but you may not be aware of the wide range of facilities provided, worldwide. It includes information, referrals and reservations for flights, accommodation and car hire, restaurants, entertainment, sporting events and health clubs. Unsure about visa, inoculation requirements and medical facilities while travelling? The concierge service can help you. You can also get assistance in finding shopping locations, and even have gifts sourced and delivered.

Predictably high interest rates

This card will not have the slightest appeal for anyone looking for low interest rates because they regularly have an outstanding purchases balance or take cash advances. Platinum cards with this level of benefits inevitably have high interest rates, and in this case they are 19.99% p.a. for purchases and 21.99% p.a. for cash advances.

0% p.a. balance transfer offer

Even if you plan to avoid interest charges by paying off your purchases balance in full every month, there is another kind of unpaid balance you may want to have. There’s an introductory zero-interest balance transfer offer, lasting for six months. Although there’s a 1% upfront transfer fee to pay, it could still be worthwhile bringing across a balance from your existing card, especially if you have recently racked up a large balance following a major purchase.

Transfer a $10,000 balance for example, and then leave the repayment cash in a 4% mortgage offset account. At the end of six months you’ll still be $100 ahead, even after paying the 1% fee. It does mean that you won’t want to use the card for purchases in the first six months (because the unpaid balance will cancel your interest-free days on purchases), making it more difficult to reach the bonus points spending target in the first year.

Up to 44 interest-free days, not 55

Many cards allow up to 55 interest-free days on purchases each month, but this one allows only 44. It still gives you plenty of interest-free leeway before you need to make your repayment, but it adds up to 132 fewer interest-free days each year. It’s worth bearing in mind when weighing up the pros and cons of competing cards.

Compare other value-for-money platinum cards

And you certainly should think about making that comparison before you reach a decision. 'ur Platinum Credit Cards page (found under 'Rewards Credit Cards’ in our Features section) helps you to compare the features of competing cards. Check out the HSBC Platinum Credit Card, the Citi Rewards Platinum Card, and many others.

A great card for flexible plans

There are, however, lots of reasons why the Bankwest More Platinum Mastercard may be the one most suitable for you. It’s a card designed for travellers who prefer not to be locked in to using one airline and it’s often hard-to-get award flights. The Flight Centre and Webjet redemption options give you access to almost any flight on any of the world’s airlines. Your overseas trips will be protected by travel insurance and made easier by the concierge service, and your costs will be reduced by the foreign transaction fee waiver.

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.

User reviews

3.3 out of 5.0 based on 5 reviews80% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Is it really worth it?

Reviewed and recommended by I on 19 Jul 2016

Remember you would have to spend a lot just to recover the annual fee, but if you have to have a credit card with a hefty annual fee then you may as well earn 2 points for every dollar spent. The points also expire now, and it will probably take a year or two to accumulate enough points to get something that is actually rewarding.

Great for extra insurance

Reviewed and recommended by Darren on 08 Sep 2014

Able to use the card anywhere and if you start on the gold and get an upgrade you only pay the gold card fees, win win. Great for insurance when you purchase white goods and for holiday insurance when you pay using the card. All in all a good product with reasonable fees.

Bankwest appears to be the best

Reviewed and recommended by Kerri on 04 Aug 2013

Customer service is excellent and provide easy to understand advice. Variety of accounts and services to suit all sorts of needs of the consumer. I have not had any issues with the bank or their services. Available in all major cities. Rates seem to be very competitive with other banks and building societies.

Great card if you pay on time mostly

Reviewed and recommended by Sfaws13 on 27 Jul 2013

It is a MasterCard, so moving from an American Express card this was going to be good. The rewards points are decent, customer service is great and the online portal is the friendliest to use (I have used all 4 top banks). The interest free days match industry standard. You get 2 rewards points for every $1 you spend on eligible purchases. •use your points for webjet flights, hotels, gift cards or get a cash back.

Rates too high and no incentive or bonus

Reviewed and not recommended by Linda on 25 Jul 2013

Not happy at all. The interest rate is too high. I get no incentives. I’ve had no other offers given to me. I don’t like my card. I’ve had no special deals from the bank. I have just about paid it off except for $100.

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
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
More Rewards
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


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

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
Balance transfer fee payment due
First statement
Balance transfer from personal loan
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

Banks you can't balance transfer from

You can't balance transfer to the Bankwest More Platinum 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

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


Annual fee
$160 p.a.
Cash advance fee
whichever is greater, $4 or 2%
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

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
Reward points expiry
Rewards program
More Rewards
Sign up bonus
Spend required for bonus points
$48,000 in 1 year

Earning points with this card

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

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service

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 $65,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Temporary residents are eligible
Age Pension is acceptable.
Joint applications are not allowed
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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