Bankwest Qantas Platinum Mastercard

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Save money
Earn points
My monthly spend: 
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Bankwest Qantas Platinum Mastercard
2.99% p.a. on balance transfers for 9 months.
Up to 44 days on purchases.
No foreign transaction fees and free international credit card travel insurance.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
0.5 pts
per $1 spent

Pros & cons

What's good?

What's not so good?

2.99% p.a. on balance transfers for 9 months.
Up to 44 days on purchases.
Complimentary credit card international travel insurance for you and family travelling with you.
Points earning is capped at 200,000 per year.
Bankwest has organised for new cardholders to have the Qantas Frequent Flyer membership joining fee to be waived, saving you $82.50.
No foreign transaction fees on online and overseas purchases.
Interstate flight inconvenience insurance and international vehicle insurance excess insurance.
Free 24/7 Concierge Service.
Up to 3 additional cardholders for free.
The annual fee of $160 p.a.
Only earn up to 0.5 pts per $1 spent on eligible purchases.

Our review

Our review of the Bankwest Qantas Platinum MastercardReviewed by Yvonne Taylor

Would you be prepared to pay $60 per year in order to be covered by six insurance policies, including multi-trip overseas travel cover, plus be able to make as many foreign purchases as you liked (either online or while travelling) without paying a cent in foreign transaction fees? Because the difference between Bankwest’s standard Qantas Mastercard (annual fee $100) and the benefit-laden Bankwest Qantas Platinum Mastercard is only $60 per year.

$160 p.a. annual fee delivers Qantas points and lots of platinum benefits

So the $160 p.a. annual fee could be broken down into two segments:

  • $100 for the Qantas points plus standard credit card features and a few other benefits
  • $60 for insurance cover plus foreign transaction fee waiver

Looked at in this way, it’s fairly easy to see that you’re likely to come out ahead every year.

Value of Qantas points

The points earning rate on this card is 0.5 pts per $1 spent. That’s the same rate as the Bankwest Qantas Mastercard, but with a more generous points cap of 200,000 points per year. (If you’re going to hit the points cap by spending more than $400,000 per year, you’re looking at the wrong card. Go for an expensive but high-earning card like the American Express Qantas Ultimate Credit Card instead.)

You can extract a value of 1.5 cents per QFF point fairly easily if you save them up for long-haul flights and/or premium seats. This means that you need to spend only $13,334 per year on eligible purchases before you have earned the number of points you need to offset this $100 portion of the annual fee: $13,334 spent = 6,667 QFF points = $100 worth of long-haul flight or premium seating. Points earned on any spending in excess of $13,334 are a free gift.

Value of insurance cover and foreign purchase transaction fee waiver

The $60 for insurance cover and foreign purchase transaction fee waiver is even easier to justify.
There are six insurance policies included with this card:

  • International travel insurance
  • Interstate flight inconvenience insurance
  • Overseas transit accident insurance
  • Extended warranty insurance
  • Purchase cover insurance
  • Price guarantee insurance

These policies are worth a total estimated amount of at least $1,300 per year, but in reality the one most likely to be purchased on the retail market is an international travel insurance policy. The kind of cover offered here (multi-trip family cover, each trip potentially lasting up to six months) would cost more than $600 per year. But even the cheapest cover (such as 'bare essentials cover’ for one person travelling to Bali for seven days) will have a premium of around $30. An ultra-conservative valuation of $30 for the insurance cover is a long way below the actual value.

This leaves $30 for the value of the foreign purchase transaction fee waiver. Bankwest normally applies a fairly typical 2.95% fee to foreign transactions. That’s any transaction where the merchant’s processing is located overseas, even if you paid in Australian dollars. Most cardholders would be likely to incur more than $30 of overseas transaction fees per year through online purchases alone. At a charge of 2.95%, $30 is only $1,017 of foreign purchases.

Conclusion: $60 is a mere fraction of the true annual value to cardholders of the insurance cover and foreign transaction fee waiver.

Additional first year and other ongoing benefits are therefore absolutely free

Since the annual fee has already been recouped several times over in Qantas points, insurance cover and foreign transaction fee waiver, the remaining benefits are also totally free. They include:

First-year-only benefits

  • Optional 2.99% p.a. for 9 months, with no upfront fee, on a balance transfer (involves temporarily sacrificing your interest-free days on purchases)
  • Waived QFF joining fee of $89.50 if you are not already a member

Every year benefits

  • Up to 44 interest free days on purchase transactions (provided you have no outstanding purchases balance or balance transfer)
  • 10% food and beverage discount at Perth Arena, Backstage Lounge access, ticket competitions and giveaways
  • Free worldwide emergency card replacement (some cards charge over $200 for emergency card replacement overseas)

Not everything is perfect

Sadly, the world isn’t perfect, and neither is this card. You might be looking for sign-up bonus points, but there aren’t any. There’s a nasty $25 to pay if you don’t make at least the 2% minimum monthly repayment on time. The interest rates are a high 20.49% p.a. for purchases and 21.99% p.a. for cash advances. If you want paper statements, the cost is $1.25 for each one. But these are all features you can avoid or do without, because they pale into insignificance compared with the value you can potentially extract from the card.

Check out other platinum and black QFF cards

If this combination of benefits and value is not exactly what you’re looking for, you can compare it with similar cards on our Qantas page. (Click 'Features’ at the top right of this page, then 'Qantas’ under 'Earn points’.) You’ll find cards with points earnings rates, fees and benefits both higher and lower. It’s just a question of working out which card is likely to deliver the best value for your spending pattern.

A card for the regular traveller

Qantas points, travel insurance and freedom from foreign purchase transaction fees, for a minimal cost that’s easily recovered: it all adds up to a card designed for the budget-conscious frequent flyer.

User reviews

3.9 out of 5.0 based on 5 reviews100% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Good rewards for a non-AmEx card, dispute problems

Reviewed and recommended by Mark on 04 May 2017

It’s an average card with a medium fee. The benefits of travel insurance and no overseas transaction fees are also a plus.

As with all non-American Express cards, the points earning rate is not great, but better than nothing if you pay the card off in full.

The circa 20-day repayment period is also very short, so be prepared to settle your card quickly every month.

The online banking is good and interfaces nicely with your other Bankwest accounts.

The major downside was that the application process was laborious, time-consuming and arbitrary as to who gets approved. Also another real bugbear is disputing transactions. This requires paperwork, and quite significant amounts of it. This has to get faxed or posted to a back office department which takes quite a long time to acknowledge the claim. Refunds take even longer – sometimes up to four weeks. They require you to pay the amount rather than marking the amount as disputed, to be resolved later. There are also fees if your claim is rejected. The staff at branches are not able to do much and always refer you to a back office team or email address.

I am only recommending this card for its reward program. The other aspects are very poor indeed.

Travel insurance and no international fees

Reviewed and recommended by Deborah on 01 Nov 2016

I have used Bankwest as a card provider for three years, and have used the Qantas Platinum MasterCard for nearly two. It is excellent for travel because it comes with free travel insurance and no international transaction fees, even when making online purchases.

It also comes with a hefty yearly fee of $160 (or around this price) but the free travel insurance makes up for it if you travel internationally at least once a year.

Qantas rewards are pretty mediocre considering this is a platinum card (0.5 points per dollar) but you can get up to 50K points as a sign-up bonus if you time it correctly and have not yet had a previous Qantas points-earning card with Bankwest. However, unless you already have a substantial number of points and status on Qantas, I do not think it’s anything special since it’s quite pricey to use points for travel. (I recently paid 60K+ AU$200 for a one-way to Sao Paulo, quite pricey compared with other airlines like Virgin/Virgin Australia and United). If you already have points, then the extra earnings from banking/credit card can be used for all sorts of things, most efficiently on upgrades.

I’m otherwise pretty happy with Bankwest as a service provider. They were excellent when my card was fraudulently copied while traveling in Brazil. An investigation was immediately launched and I was reimbursed for everything without any hassle. Customer service on the other side was really good at keeping me calm and collected, and also very good at explaining all of my options. Unfortunately, Bankwest was NOT able to ship a new card to where I was, so I had to travel without the card for nearly two months while on the rest of my trip, but MasterCard does offer emergency cash advance services for times like these. I did not need to use this service since I had a backup credit card, unfortunately, without great perks like zero international transaction fees — those add up!

Great for travelling

Reviewed and recommended by Yvette on 19 Sep 2016

I originally got this card for the 'no foreign transaction fees’, which is great, but since they have reduced the interest-free days and also the amount of QFF points redeemed, i am considering a change.

Love the customer service — always very helpful and convenient, as it is a MasterCard.

Great for overseas trips

Reviewed and recommended by Robert on 22 Jun 2016

The Bankwest Platinum Qantas card is great for overseas trips and purchasing goods and services online from overseas as there are no foreign transaction fees. At $150 p.a. it also comes with travel insurance and is linked to my Qantas Frequent Flyer account. I received 50,000 miles when I opened the account, but the rules have changed so it is harder to earn points. I am also not sure if the foreign transaction fee—which is waived—is recovered via a lower exchange rate, which is hard to compare. It is easy to use and access online. Providing fees don’t go up too much, it appears to be good value.

Best Qantas FF rewards card

Reviewed and recommended by Krythe on 01 Sep 2013

It’s a MasterCard, so it is accepted in more places than Amex, and it has no international transaction fees, which is great for online shopping and going overseas. This makes it well worth the price for the moderate spender who wants a Qantas FF card (if you want it cheaper, consider the qantas Am Express Discovery Card, but it doesn’t have the above features).

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
Qantas Frequent Flyer
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 transfers2.99% p.a.9 months0%95% of credit limit20.49% 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 Qantas Platinum Mastercard at the promotional balance transfer rate from:

  • Bankwest

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers2.99% p.a.9 months0%95% of credit limit 20.49% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.83% 21.99% p.a.
Purchases 1.71% 20.49% p.a.


Annual fee
$160 p.a.
Cash advance fee
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
No expiry as long as you keep your account active (earn or redeem points within a 18 month period)
Rewards program
Qantas Frequent Flyer
Sign up bonus
Spend required for bonus points

Earning points with this card

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

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service


This card comes with benefits worth an estimated $1,359

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
Total estimated value$1,359
Annual fee$160
Net customer value$1,199
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
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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