This was posted 10 years 3 months 11 days ago, and might be an out-dated deal.

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Lifetime $0 Annual Fee: Westpac 55 Day Platinum Credit Card (New Cardholders Only)

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Lifetime $0 Annual Fee: Westpac 55 Day Platinum Credit Card (New Cardholders Only)
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tightarse on 24/08/2014 - 10:59 westpac.com.au (8032 clicks)
Last edited 04/09/2014 - 00:19 by 2 other users

I've had this card for years (and been paying $90/year). Without doubt, the best thing is the up to 2 years additional warranty that you get on new purchases. An an example, if you purchase a TV at JB with 2 years warranty, pay with this card and get 4 years. Not bad! (If it had 1 year warranty, this card matches it and adds 1 year extra warranty)

The other great feature is the $5500 vehicle rental excess coverage. You only need to buy the cheapest policy from Hertz/Budget/Thrifty without the need to pay extra for higher accident protection and this card takes care of the rest (potential saving of ~$35/day).

Until September 30, all new customers get the card with $0 annual fee for life. As this card comes with no rewards, just put the card away, and use it for major purchases where warranty is important.

Other great features are:

  1. Overseas Travel Insurance
  2. Purchase Security Insurance
  3. Price Guarantee
  4. Interstate Flight Inconvenience insurance
  5. Rental Vehicle Access Insurance
  6. Transit Accident insurance

See here for all the details.

Financial Credit Card

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Westpac

closed Comments

  • bargin424 on 24/08/2014 - 11:01
    +1

    "for the life of the card"

    what happens when it expires? fees will be charged?

    • [Deactivated] on 24/08/2014 - 11:05

      No…I would not expect this from Westpac.

      • YTW on 24/08/2014 - 12:15
        +14

        I have a very basic, 'no annual fee for life of the card' Westpac credit card. It used to be a Virgin Money branded one.

        Westpac love to ring me up or mention just how AWFUL it is every time I have contact with them…they've shoved the interest rate up as high as they can and tell me how EXPENSIVE the card is compared to others (with an annual fee). The only people it is awful and expensive for are Westpac. I love my little free, low-limit ($1500) credit card. Perfect for online purchases etc. And I pay it off every month, so it costs me absolutely nothing.

        So, you may get this kind of irritation later on. But they won't charge a fee.

        • Matt88 on 24/08/2014 - 13:21
          +2

          I have exactly the same card as you @YTW (previously Virgin card with a curved side) also with a $1500 limit, I put money into the account as soon as I use it. I just use it for online purchases and have linked it to Paypal. Have only spoken with Westpac once and that was when setting up a pin number - there was no push to change card.

        • Grok on 24/08/2014 - 14:10
          +1

          I also have the same card, previously Virgin but mine has a $10,000 or so limit, maybe more.

          It is perfect, I have it auto-debit my Combank bank account (also no fees) every month for the full balance,

        • [Deactivated] on 24/08/2014 - 15:14
          +2

          I just got a free upgrade for that card to an altitude card free for life.

        • Boshait on 25/08/2014 - 09:22
          +1

          @wxyz234: They haven't offered me that. How is it an upgrade? I'd be reluctant to let go of my little ex-Virgin. She came with some guarantees that I've forgotten, but they impressed me at the time.

        • deal88 on 25/08/2014 - 12:27
          +2

          @Boshait: She was a Virgin years ago. There are some new girls on the block now, that will take your money and give you some benefits in return.

        • SomeGuyOnOzB on 26/08/2014 - 07:52

          I got mine years ago. I haven't heard from them about it at all.

        • Look43Bs on 31/08/2014 - 09:49

          @Matt88: I have the old Virgin card (with nil annual fee) now known as Ignite with Westpac. Never had any contact from Westpac to change.

          I've taken up this offer because of it's great features. Thx for the alert

    • Cheeper on 24/08/2014 - 11:15
      +1

      Valid question… is it until your next card is issued or for as long as you hold the card?

      • tightarse on 24/08/2014 - 11:57
        +110

        is it until your next card is issued or for as long as you hold the card?

        After a 35 minute hold on 1300 651 089, the CC operator confirmed "Life of the Card' means as long as you hold (don't cancel) that account. It has nothing to do with expiry date on the card.

        • Cheeper on 24/08/2014 - 11:59
          +4

          Thanks for clearing that up TA…

        • susu abis on 24/08/2014 - 12:20
          +26

          thats dedication to the Ozbargain community

          Thanks TA

        • tightarse on 24/08/2014 - 20:47
          +8

          @pls:
          Welcome back from the penalty box pls. Looking forward to some meaningful contributions from you.

        • voiper99 on 25/08/2014 - 08:20

          @tightarse:

          Damn, I tried to + but accidentally - :(

        • pls on 25/08/2014 - 17:19
          +1

          @tightarse: thanks bro, ill do my best

        • jace88 on 22/09/2014 - 17:52

          good on you for doing the research for the team.

          On a side note, the Citibank deal from not too long ago on the Signature VISA cards seems to be for life of the account as well. Much better than those one year fee-free cards!

    • [Deactivated] on 24/08/2014 - 11:47
      -4

      Yes, fair point but still a good deal if it expires with the card. Title should say that until it's clarified.

      • uder on 24/08/2014 - 17:11
        +1

        Card means account in this context. The title is quite clear IMO.

        • [Deactivated] on 24/08/2014 - 19:50
          +2

          It is now (and thanks to TA for confirming) and was to people who read the previous deals.

        • SBP on 24/08/2014 - 22:06

          It was clear to me. I didn't need any clarification

        • [Deactivated] on 25/08/2014 - 11:16

          @SBP: Can I have your autograph?

  • cookie_lu on 24/08/2014 - 11:06
    +5

    "Outside of this promotional period, annual fee waived in the first year (currently saving $90 a year) will apply as well as $0 annual fee in subsequent years - when you spend $20,000 or more on purchases in the previous year using your card."

    • tightarse on 24/08/2014 - 11:11
      +7

      Thanks cookie. You'll never need to worry about any minimum spends or $90 annual fee if you take up this offer.

      • cannedhams on 24/08/2014 - 12:00
        +2

        Why the negs?

        • tightarse on 24/08/2014 - 12:02
          +2

          No idea.

        • bghunter on 24/08/2014 - 12:10
          +5

          Ya, sincerely hope someone can explain the reason(s) for negs

        • jackspratt on 24/08/2014 - 12:21
          +2

          I didn't neg, but it may relate to cookie's post above which refers to a 20k minimum spend to avoid the annual renewal fee.

    • EightImmortals on 24/08/2014 - 12:23
      +1

      So after the first year we have to spend 20K per year to keep the $0 yearly fee?

      • tightarse on 24/08/2014 - 12:28
        +8

        So after the first year we have to spend 20K per year to keep the $0 yearly fee?

        No. When this offer expires (Sept 30), the CC reverts to $90/year annual fee, or fee free if you spend $20,000/year.

        But, if you partake of this offer before Sept 30, then this won't apply. You'll get it free for life.

      • aussieaubs on 24/08/2014 - 14:26

        Special promotions

        $0 annual fee for the life of the card when you apply for a new 55 day Platinum card

        between 25 July 2014 - 30 September 2014

  • Daniel Plainview on 24/08/2014 - 11:12
    +11

    The 2 yrs is good as I have a Citi Plat and it only gives an extra 1 yr.

    However, its worth being aware that there's a $250 excess on ANY claim - so for a lot of people planning on using this instead of having to buy overpriced extended warranties this is probably about what you'd pay anyway! Plus there's a lot of other fine print on such matters.

    I'm not saying its not worth having but this significantly undermines the benefit of the card (I think its the same for mine but it has rewards etc).

    At the end of the day understanding your statutory warranty rights and reasonable implied product lifespans under Australian consumer law might be somewhat handier. :-)

    • slackme on 24/08/2014 - 11:36
      +11

      It is very different from extra warranty. You only pay it when you need to claim while extra warranty you may never claim it.

  • pmupsinep on 24/08/2014 - 11:17
    +22

    You've read the PDS wrong. They match the Australian warranty, up to a maximum of 2 years. E.g 1 year warranty, you get an an extra 1 year only. 2 year warranty, you get an extra 2 years.

    You don't get 2 years for 1 year normal warranty.

    Plus you have to pay the first $250 of any claim warranty.

    • tightarse on 24/08/2014 - 11:21
      +1

      Correct. Post updated.

      • pmupsinep on 24/08/2014 - 11:26
        +1

        Thanks. The table is silly so I can see how it would be interpreted that way. They should have seperated 1 yr onto a seperate example instead of having the range 1-5 years = 2 years extended.

    • Mugsy on 24/08/2014 - 12:24
      +1

      Thanks for the reminder RE the $250 extra for warranty claim. Some extended warranty don't have the excess in that it's an extension of the original warranty but just covered by the provider.

    • fruit on 24/08/2014 - 16:12
      +5

      Don't forget your rights under the Australian Consumer Law: http://www.accc.gov.au/publications/top-5-publications

  • ronnknee on 24/08/2014 - 11:19
    +2

    Overseas travel insurance

    For overseas trips up to 6 months, cover includes:

    Specified medical expenses incurred overseas
    Up to $20,000 per person cover for loss or damage to personal property
    Up to $550 per person for loss or damage to travel documents
    Limit of $2.5 million of personal liability cover
    Up to $5,500 rental vehicle excess cover as specified in the policy for loss or damage to rental vehicle.
    You, your spouse and your dependent children could be automatically covered for Complimentary Overseas Travel Insurance cover on your journey, if before you leave you prepay travel costs using your 55 Day Platinum Visa credit card in accordance with the policy. Find out more in Details.

    I'm actually looking for a credit card like this that would offer free travel insurance for car rental excess when travelling domestically. I checked the features of the credit card, and rental vehicle excess cover seems to fall under "Overseas travel insurance". OP, have you had any experience claiming this for domestic travel?

    • tightarse on 24/08/2014 - 11:23
      +2

      insurance for car rental excess when travelling domestically

      Page 52 here states it's Australian (domestic) coverage.

      • ronnknee on 24/08/2014 - 11:45

        I just had a read and noted:

        Rental vehicle excess insurance in Australia cover is available
        to Westpac Black card, Platinum Plus card and Platinum A
        card cardholders

        This rental vehicle excess insurance seems to be only for Platinum and not Platinum Plus of Platinum A (Altitude). These are the other credit cards they have: http://www.westpac.com.au/personal-banking/credit-cards/comp…

        • tightarse on 24/08/2014 - 12:09
          +3

          Hi ronnknee. This CC is a Platinum A card. It's on page 4 here.

          Here's a screenshot.

        • ronnknee on 24/08/2014 - 12:46

          @tightarse: Ah, thanks for the clarification.

          Just a note other other readers:

          Rental vehicle excess insurance in Australia policy – You
          must pay the first A$250 for each claim.

        • dddp on 25/08/2014 - 17:52

          @ronnknee:

          you can often buy coverage for less than that amount

          eg http://www.1cover.com.au/travel-insurance/domestic-travel-in…

          edit - why is it you can get cover for OS travel on cards of a lower level on roads you probably don't know the rules for plus not many other drivers follow the rules anyway?

        • Entertainment on 26/08/2014 - 17:45

          @ronnknee: so this card doesn't do much for car rental insurance? I can pay Hertz $37 insurance, and the excess is $0.

    • blahbkahz on 24/08/2014 - 12:04

      Tell me if i'm wrong, but holding this card means that you have access to travel insurance?

      • [Deactivated] on 24/08/2014 - 13:10
        +1

        For most claims yes the excess is $250

    • oz-dxer on 24/08/2014 - 13:16

      Make sure it covers "medi vac" as that is the one that will cost the most.
      Many cover it but some dont.

  • Maxxjet on 24/08/2014 - 11:34

    Pity I am in a process to get a mortgage otherwise will jump on board…

  • beeze on 24/08/2014 - 11:39
    +2

    on hold for +10 min

    edit: 20+ min. joke…

    • MITM on 24/08/2014 - 15:01
      +2

      Ozbargained

    • furythree on 24/08/2014 - 16:46

      err.. just use the online form and enter the promo code?

      • rdchristy2 on 24/08/2014 - 19:33

        Is there a promo code I was supposed to enter when applying???

    • IVI on 24/08/2014 - 18:43

      We didn't have to wait on the line at all… Did we dial the right tel.no.?

      The recorded voice just told us that the hours were M-F 8 to 8 (or similar), & we hung-up! ;-)

  • DealzEddy123 on 24/08/2014 - 11:40
    +2

    what about existing customers…

  • bluechan on 24/08/2014 - 11:47
    +2

    The one thing I would point out with this card. Is the minimum credit limit is $6000. This might have a negative effect on your ability to take out loans…

    This one restriction will hold me back from getting this card.

    • [Deactivated] on 24/08/2014 - 12:05

      Most travel insurance offering cc are the same. It sux I know.

    • Mugsy on 24/08/2014 - 12:19

      I guess it'll depend on one's income and other financial circumstances.

      A year ago, I dropped two credit cards ($14k worth of credit limit) and kept one with $6k… recently took out a loan to purchase a half million dollar property. I wouldn't say that my income was brilliant… probably around the average Australian income mark.

      I recently got the Citibank Signature card to drop my Virgin Flyer… the Westpac does give extended warranties up to two years as opposed to 1yr with Citibank but the Citibank does have the reward system. I have a pretty nice stack of points with Velocity so the reward system (and ability to transfer to Velocity) does make a difference with me.

      I wonder how much extended warranty the Bankwest Zero Platinum gives? That one has the benefit of no forex fees.

      • [Deactivated] on 24/08/2014 - 13:26

        A quick perusal of both PDS' and they appear to be very similar Zurich conditions (this offer and BW Platinum). BW offers extended warranty to a max of 1 year up to the 5 year limit. No forex is handy.

  • [Deactivated] on 24/08/2014 - 12:04

    Looks too good to be true! Looks like I'll be applying! Does anyone know the minimum you have to spend before leaving Australia to get travel insurance?

    • tightarse on 24/08/2014 - 12:14
      +1

      Hi clarky. No minimum. Only proviso is you need to pay the entire airfare with this CC.

      • Mugsy on 24/08/2014 - 12:22
        +1

        Yep, the paying the entire airfare part is the only thing to be mindful of.

        It's a good idea to read the insurance PDS to understand spouse and children coverage. Note that if you can get an additional card for no extra cost, that could be a way of getting the travel insurance for retired parents who can't get these credit cards or adult offspring.

        • [Deactivated] on 24/08/2014 - 12:25

          Mmmmm is that any airfare I wonder? I fly standby when I can. I'll ask them. Thanks guys!

        • [Deactivated] on 24/08/2014 - 13:36

          Nope, just $500 per person - as Docpol says below.

          "A cardholder becomes eligible for this Overseas travel
          insurance when, before leaving Australia on an overseas
          journey, they have a return overseas travel ticket, and A$500
          of each of their prepaid travel costs (i.e. costs of their return
          overseas travel ticket; and/or airport/departure taxes; and/or
          their prepaid overseas accommodation/travel; and/or their
          other prepaid overseas itinerary items) have been charged to
          the cardholder’s eligible credit card account."

        • odysseus on 24/08/2014 - 19:08

          That wording is a bit iffy. Technically, and legally, it can also requires other prepaid expenses such as accommodation and potentially other categories.

          It's possible they actually meant ""any" of their prepaid travel costs", instead of ""each" of their prepaid travel costs", in which case your statement about flights only being correct. However, as worded, they could refuse your claim if you had other prepaid costs but didn't pay $500 of them on the card.

        • [Deactivated] on 24/08/2014 - 19:58

          @odysseus: Can see what you mean. Worth clarifying because others I've seen seemed to ask for airfare PLUS $500.

        • SBP on 24/08/2014 - 22:22

          @odysseus: For years there has been a massive push towards making the PDS more easier and shorter to read. I think this wording is quite plain and I prefer it to the way they used to word these things. It is much easier to understand now.

          You have to have a return ticket. You have to use this card to pay for A$500 in travel costs. A return travel ticket constitutes travel costs….so do all of the rest of the AND/OR things mentioned in the quote. You don't have to pay for ALL of the things that constitutes travel costs. They are options that you can use to qualify in case your ticket does not exceed A$500.

          I think their wording is more succinct than mine. Someone else might have a better way of explaining it but I don't. I think its clear as it is.

        • bonezAU on 24/08/2014 - 22:23

          @Possumbly:

          Yeah this. I was quite disappointed when I found out my Bankwest Platinum had this restriction. My mrs was born in Indonesia and we live in Perth, so we go back once or a twice a year to visit family and friends. In order to get the use of the travel insurance we have to basically spend $500 each. On such a cheap Jetstar bogan bus trip to Bali it comes to nowhere near $1000. Even with booking hotels and connecting flights out of Bali to her home city.

          Usually I book all the hotels in my name which covers me for the $500 (flights too), but for the mrs I end up having to buy her a travel insurance policy from somewhere else. I guess at least one of us can make use of the included travel insurance, so it's better than nothing.

        • dazweeja on 25/08/2014 - 13:07

          @SBP:

          I disagree that it's clear. What is the word "each" doing there at all?

          "A$500 of their prepaid travel costs" is clear, "A$500 of each of their prepaid travel costs" - and then listing a bunch of potential categories - is not.

      • Davros on 24/08/2014 - 12:28

        Damn, already have the Oz to KL leg bought a few months back, I still have to buy legs onwards plus accommodation but from what your saying that's not good enough to get the free travel insurance.

        • docpol on 24/08/2014 - 13:03
          +1

          You still can as per their policy. Read the pdf. I can't cut and paste the specific topic as I'm on my tablet. But generally, you are covered if you have a return ticket before leaving Australia and that you use the cc to purchase travel costs (flights, accommodations, travel, airport taxes, itinerary costs, etc) amounting to at least $500 before you leave.

          http://www.westpac.com.au/personal-banking/credit-cards/rewa…

      • docpol on 24/08/2014 - 12:54
        +1

        Actually, you need to spend a minimum of $500 of your pre-paid travel costs before leaving to avail of the insurance. It's in the insurance policy pdf. I have the Black card so I've read it before. http://www.westpac.com.au/personal-banking/credit-cards/rewa…

        • [Deactivated] on 24/08/2014 - 17:51

          Ok so that prob counts me out then. I kinda travel without an itinerary living day by day and flights are usually less than $500. I currently have an ANZ card and travel insurance is only $250 expenses before leaving country.

      • oz-dxer on 24/08/2014 - 13:13

        Also i understood that accomadation needed to be paid via CC as well.
        I have a NAB version of this CC.

        • docpol on 24/08/2014 - 13:22

          Not necessarily as long as you spend at least $500 for your overseas travel costs. It can just be on flights and/or accommodations.

        • [Deactivated] on 24/08/2014 - 13:55

          I've seen that on some cards which is the reason I didn't bother. Not so for this or the BW Platinum Zero so a decent free travel insurance card IF you don't expect to have small claims. I've used World Nomads in the past and their excess was $100.

    • [Deactivated] on 24/08/2014 - 16:00

      Anyone know if the "return overseas travel ticket" needs to be booked as a single ticket, or if you can travel from/to Australia on separate one way tickets? T&C doesn't seem to be expressly clear on this point.

    • grunge on 05/09/2014 - 13:16

      On Travel Insurance, do you know what it covers?
      I do alot of travelling to the snow, so it'd be good if it covers snowsports, that way I don't have to keep buying insurance with it included…

  • WeiKaiLe on 24/08/2014 - 12:37

    Sucks not having a full time job, can never take advantage of these things.

    • jv on 24/08/2014 - 13:26

      Start your own business…

      • Click_It on 24/08/2014 - 16:55
        +1

        It's not so silly.

        While I generally avoid all types of credit cards, I needed one once, I had a (then) largely inactive ABN. I just made up my own income numbers on it and walah, approved. The numbers weren't too far fetched but a lie none the less. Said card was used once for intended purpose and never been touched again…

        Curious just how closely they check the numbers you write on their forms coz I probably shouldn't have qualified at the time. jv's comment applied perfectly to that one experience.

        • Boshait on 25/08/2014 - 09:28

          You scallywag you!

          Thanks for the tip. I have a moribund ABN and no job too.

        • kiitos on 25/08/2014 - 21:50

          Did they try to confirm your income? Did you become your company's payroll officer? Annoyed i didn't think of this.

  • RocketSwitch on 24/08/2014 - 13:06
    +1

    Great, I can replace my 55 Day Credit Card, with this one. Thanks OP!

  • jv on 24/08/2014 - 13:25
    +1

    I've got same one from CBA. Zero fees while I keep the account open…

    Same with Platinum Amex.

    Don't know why people still want to pay fees???

    • Boshait on 25/08/2014 - 09:33

      You seem to be a neg magnet jv. I gave you a pity +.

      Some people refuse to think about their finances at all for some reason. Some people are stupid, or really old. My 80-something mother's NAB account seems to hit her with a fee everytime she touches it. She sold $1650 worth of shares recently and the broker hit her with $132 in fees.

  • yjun355 on 24/08/2014 - 13:26
    +12

    This deal has got lots of votes. However, I really fail to see any reason to get it. Citibank or HSBC offers are much better. Plus you get the rewards with those.

    Unless I am missing something. But there does not seem any reason to get this card. Even as a spare.

    • [Deactivated] on 24/08/2014 - 14:00

      Do they have free travel insurance, extended warranties?

      • yjun355 on 24/08/2014 - 14:02
        +1

        Yes they do

        • [Deactivated] on 24/08/2014 - 14:20

          Thanks. I'll have a look.

    • SBP on 24/08/2014 - 22:32

      I'm not saying that this is a good idea, but I suppose that most Australians still prefer to deal with one of the big 4 instead of other online or overseas banks even if their products are better.

      I haven't done a survey of most Australians to support my thesis, however, I think that record profits recently announced may be sufficient to support my thesis.

      So if you are someone who prefers to use a Big 4 bank then this would be a reason to get this card…..even as a spare and not get the alternate "better" options

    • wilburt on 26/08/2014 - 09:23
      +1

      It's all swings and roundabouts…

      Citi and HSBC give you up to +1 year extended warranty, whereas Westpac will give you +2 max.

      Citi covers your vehicle excess up to $2750, $3000 for HSBC, $5500 for Westpac (which is typically the amount set by vehicle lenders)

      Citi int'l travel insurance excess is $100, $200 for HSBC, $250 for Westpac

      Citi extended warranty claim $100 excess, $200 for HSBC, $250 for Westpac

      I've done a few international motoring holidays in my day and I'm about to purchase a big-ticket whitegood with a 5 year warranty, so Westpac looks like a good deal for me.

      • dazweeja on 26/08/2014 - 10:14

        Citi vehicle excess insurance seems only to be available as part of International Travel or Interstate Flight Inconvenience though? HSBC only seems to be International too?

        The Westpac one seems cover you even within your own state which is an important difference.

      • [Deactivated] on 26/08/2014 - 11:20

        Citibank's excess for most travel items is $200.

    • lawyerz on 30/08/2014 - 19:45

      Feeeeeeees. Thats why.

  • cornucopia on 24/08/2014 - 13:53

    Fee free Platinum + low threshold complementary overseas travel insurance = one of the best credit card deals ever!! Got one weeks ago…:-) !!

  • mvu on 24/08/2014 - 13:58
    +1

    Has anyone ever claimed an extended warranty?
    If so, can you please share you please share your experience?
    Many thanks in advance

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