Bankwest Zero Mastercard

No upfront fee on balance transfers. No fee for emergency card replacement, worldwide. No messing about with 'complimentary’ rewards points and insurance policies you ultimately have to pay for. No charge for additional cardholders. In fact, no annual fee at all, ever. The Bankwest Zero Mastercard adds up to a whole lot of zeroes, in all the right places.

Fee-free balance transfer at a low 2.99% p.a. for 9 months

Are you sick of paying around 20% p.a. on your credit card debt, and making no headway with your repayments because they do little more than cover the interest charges? Well now you can transfer your debt to a new Bankwest card, pay only 2.99% p.a. on the debt for 9 months (that’s far lower than a debt consolidation personal loan rate), and watch your repayments significantly reduce the debt principal because the interest charges are low.

Best of all, there’s no upfront balance transfer fee to pay (some cards charge as much as 3% of the transferred amount), so your debt doesn’t increase when it’s transferred.

Revert interest rate is the lower purchases rate, not the high cash advance rate

Promotional interest rates on balance transfers can be very worthwhile, unless you fail to fully repay the debt during the promotional period. Once the introductory offer expires, the revert interest rate can be punitive. It’s often the card’s extremely high cash advance interest rate.

But not in this case. Although the Bankwest Zero Mastercard’s cash advance rate is very high 21.99% p.a., the revert interest rate is the ongoing purchases interest rate of 17.99% p.a. It’s a rate you’ll still want to avoid, by clearing your debt within nine months if possible, but paying 17.99% p.a.is less painful than facing the 21% p.a. or 22% p.a. imposed by some cards as a
revert rate.

Up to 55 days interest free after you repay your balance transfer

If you don’t plan to transfer a balance, you can immediately take advantage of up to 55 days interest free on your purchases every month, provided you always pay off your purchases balance in full, on or before the due date.

For those planning to transfer a balance, those interest-free days will still be waiting for you after you have completely repaid the debt. Meanwhile, try to use cash or another card for your purchases during the next nine months, otherwise you’ll be paying 17.99% p.a. on all your purchases, from the transaction date until the purchases balance repayment date.

Choose a low credit limit to keep your spending in check

One of the helpful features of this card is that it doesn’t force you to have a high credit limit you are not comfortable with. You can choose a manageable limit as low as $1,000, if that suits your spending pattern and capacity to repay.

High late payment fee

You must make an on-time repayment of at least 2% of your total balance every month in order to avoid the very high $25 late payment fee. This is not the highest late payment fee around, but it’s near the top of the scale.

Your minimum repayment amount and due date will be shown on your monthly statement.

No charge for emergency card replacement

The late payment fee may be high, but here’s another one of the pleasing zeroes: no charge for emergency replacement if your card is lost or stolen, wherever in the world you are at the time. It’s not unusual to be charged $200 or more for a card replacement overseas, so this is a definite bonus.

Perth Arena benefits

Perth residents and visitors can enjoy a 10% discount on food and beverage purchases at the Perth Arena, plus access to the Backstage Lounge, event ticket giveaways and competitions.

But anyone in Australia can have a Bankwest credit card. Bankwest has branches and ATMs in all states, as well as online banking and a mobile app.

The best annual fee – zero

Here’s where the card truly earns its name. There’s no annual fee, ever, so you can afford to keep it in your wallet just for emergencies if that’s the only reason you carry a credit card.

Check out other 'no annual fee’ cards

Other cards free of annual fees can be viewed on our 'No annual fee’ page in the 'Features’ section. There you’ll find the ME frank credit card, the Citi Simplicity Card, the 28 Degrees Platinum Mastercard and several American Express cards. Compare their features with this Bankwest card to find out which card suits you best.

A good starter or student card

If you’re on a tight budget and just starting to find your way in the world of credit cards, this could be a good starting point. With a combination of zero annual fee and a purchases interest rate that’s lower than many other cards, it could be your friend in need when your finances don’t turn out quite as you’d expected.

Equally, for anyone wanting to move on from their existing card, the low-interest balance transfer offer could be just the incentive you’re looking for.

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

• Bankwest