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Westpac Altitude Credit Card - $0 1st Year Annual Fee for Existing Customers, 1.25 to 3 Points Per $1 Spent

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Westpac Altitude Credit Card - $0 1st Year Annual Fee for Existing Customers, 1.25 to 3 Points Per $1 Spent
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Pprosey on 24/06/2016 - 20:16 westpac.com.au (715 clicks)
Last edited 25/06/2016 - 14:31 by 1 other user

Here's how you can earn back 1.5% of all your spending this year in the form of Woolworths gift cards!

For anyone who is an existing Westpac customer, you can now get the Altitude Black Rewards Credit Card for free - $0 annual fee in your first year so just cancel it before you reach your second year!

You get two cards with this - one Mastercard and American Express. The best thing about these cards are the rewards points on every purchase. The points can then be redeemed for Woolworths vouchers.

Here's the breakdown of the points:

1.25 points - Altitude Black World MasterCard® (Australian Merchants
3 points - Altitude Black World MasterCard® (Overseas Merchants)
3 points - Altitude Black American Express Card (Australian Merchants and Overseas Merchants)

They have a range of items you can redeem the points for but I'm sure OzBargainers would rather get cash back so just redeem them for grocery vouchers!

As an example: (https://altituderewards.com.au/public/redeem_product.aspx?de…)
4,000 points ($1,333 spent on American Express card) = $20 voucher
19,800 points ($6,600 spent on American Express card) = $100 voucher

If you calculate the saving, that's cutting 1.5% off EVERYTHING that you spend. Of course, make sure you pay your credit card bills before the due date to avoid the interest!

It's ridiculous how much you can save in just one year. Let's say your household spends (rent, food, bills, entertainment) around $4,000 per month. Over one year, you spend $48,000.
Convert that all into points and then vouchers, and that's 7 x $100 = $700 worth of Woolworths vouchers for the next year!

Mod Edit: Removed "$700+ cashback/1.5% off" from title - spending varies between each individual and points are used to redeem vouchers (NOT cash).

Financial Banking Credit Card Reward Points

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closed Comments

  • furythree on 24/06/2016 - 20:20

    no rewards points bonus deal?

    • prosey on 24/06/2016 - 20:21

      Hm not sure what you mean?

      • dasher86 on 24/06/2016 - 20:23

        Usually there's bonus points on sign on.

      • fertiliser on 24/06/2016 - 20:23

        He wants a sign up bonus as well

      • furythree on 24/06/2016 - 20:29
        -1

        the other cards usually have like 20-60000 bonus points on sign on

        been waiting for a deal with points for the black card for ages

        dont wanna bank with anz or whatever as they have shit banking apps

        • prosey on 24/06/2016 - 20:35

          Yeah precisely - I know someone who worked at Westpac and got this card for free for no annual fee (ever!) so I was pretty envious! Luckily now it's available for everyone at least for a year. I suppose even if you pay the annual fee of $395, if you do claim back over $700 worth of vouchers, it's worth it anyway

        • payton on 24/06/2016 - 21:05

          Anz have shit banking app?? lolwut

        • STRAPIFY Watch Strap on 24/06/2016 - 23:41

          @payton:

          ANZ app is probably one of the worst banking apps I've used. Try Commonwealth bank and you'll see the difference.

        • furythree on 24/06/2016 - 23:57

          @payton: sorry

          ANZ have the shiTTEST banking app

          thanks for the correction

        • payton on 25/06/2016 - 00:03
          -1

          @fattyman:
          @fattyman:
          ANZ's app is fast and easy to use, supports 4 digit pin for convenience. I don't think that feature is available on Commbank's. Calling it 'shit' was just flippant. CBA's does have lots of features tho.

          When you're talking 'worst', the old version of Citibank's is a contender: it was ponderous and Citi tends to be so overly security conscious.

        • Ayanami on 26/06/2016 - 01:34

          @payton:

          CommBank app does have the 4 digit pin feature.

        • payton on 27/06/2016 - 10:28

          @Ayanami:
          ah it is there, tucked away.
          Most other banking apps offer PIN login straight up after first boot but not CBA's.
          Thanks

        • Ayanami on 28/06/2016 - 14:33

          @payton:

          Mine did?

        • payton on 28/06/2016 - 14:59

          @Ayanami:
          Have not seen the prompt come up a single time and I have the app on two phones, both Android.

  • 4892 on 24/06/2016 - 20:23

    Standard variable interest rates

    On purchases On cash advances
    20.24% p.a. 20.74% p.a.

    You have to hope you don't miss your payment!

    • prosey on 24/06/2016 - 20:24

      Yes definitely - I'm assuming most ozbargainers are diligent enough to avoid that!

  • superbass on 24/06/2016 - 20:51
    +2

    misleading title

  • couger on 24/06/2016 - 20:52
    +3

    hard to find someone accept AMEX as rent payment.

  • Coops1 on 24/06/2016 - 20:56
    +2

    Yeah, nah, you need to change the title…there isn't $700 cashback, unless you spend $48,000!

    • prosey on 24/06/2016 - 21:12

      Yep done! Sorry I based that off the average household spending statistic in Australia

      • octagonalman on 24/06/2016 - 21:51

        I think you might need to tweak your model a fair bit. Have you had an AMEX before? The OzBargainer will find that many expenses deliver a greater saving if you avoid credit card completely. Eg BPay for rent; direct debit for utilities. Many retailers then don't accept AMEX. Your average earn multiplier will be a lot lower than 3 points per dollar and your total eligible spending will be far less than your total expenditure for the year.

        • prosey on 24/06/2016 - 23:10

          Personally no, but I have seen friends and family (who are very frugal) redeeming heaps of vouchers through their Westpac points even with the 1.5 points. They don't actually expire on you - then again these people have had the luxury of having their annual fee waived.

  • sonic2011 on 24/06/2016 - 20:59

    I would prefer coles platinum MC with $89 annual fees.

  • kzl on 24/06/2016 - 21:03

    A better deal is the Platinum card which has 40k bonus points (after $1000 spend within 90 days).
    https://www.westpac.com.au/personal-banking/credit-cards/rew…

  • lukelegend on 24/06/2016 - 21:08

    What't the best card at the moment with low fees to earn Qantas points?

    • kipps on 25/06/2016 - 20:25

      https://www.anz.com.au/personal/credit-cards/frequent-flyer/… <— 75,000 points and $nil annual fee for first year. Cancel after first.

    • bluesky on 26/06/2016 - 18:09

      If one wants a card that earns Qantas FF points, yet, cannot be bothered with having to cancel after first year (due to annual fees), then the fee-free Qantas Amex Discovery card is quite good.

      You also get the cashback offers from Amex, which to me is an attractive ongoing feature (recent discussion here).

      Granted, you get a more modest 15,000 points on application (using a referrer), compared to the huge bonus points with other card, but once applied, the benefits (rewards and cashback offers) are ongoing.

    • bluesky on 26/06/2016 - 19:22

      Granted, you get a more modest 15,000 points on application (using a referrer),

      Apologies. This should read

      Granted, you get a more modest up to 15,000 points on application (using a referrer),

      Some of the bonus points has to do with "spend in Australia on selected Qantas products and services." (Per card application T&C).

  • zzyss on 24/06/2016 - 21:11
    +1

    So after all that, the deal is just annual fee free for the first year? Everything else is just bog standard points redemption scheme stuff.

    In fact, a real OzBargainer would not bother redeeming for cash or vouchers, but business class flights by transferring points to partner airlines, because that's the best bang per buck.

    • prosey on 24/06/2016 - 21:13
      +1

      Perhaps. Though not everyone takes flights often, but everyone does buy groceries. A cash back/voucher offering would be suited to the wider population vs getting business class flights

      • octagonalman on 24/06/2016 - 22:45
        +1

        In the case of groceries, you're still better off using ING for 2% Paywave cashback.

  • dan199 on 24/06/2016 - 21:35

    Am I correct in my research that payments to the ATO do earn points? But only when paying via Amex and only 1.5 points (or 0.75 QFF points)?

    • scheps on 24/06/2016 - 21:40

      Even so much higher surcharge. Prob not worth it for qf points..not worth that much

    • jackspratt on 24/06/2016 - 22:45

      Am I correct in my research that payments to the ATO do earn points? But only when paying via Amex ……

      Yes & No. I have paid my tax bill for the last couple of years on my Altitude Black Mastercard, earning points in the process.

      However, there is also a fee for paying by CC.

  • blahoz on 24/06/2016 - 23:31

    I've just recently moved to westpac and I miss how commbank allows you to exchange your reward points to visa gift cards which works out to be the best for me as I can choose where to spend it on.

    • furythree on 24/06/2016 - 23:59

      i thought you can on the rewards website

      you can even use points to pay off your card directly

      • blahoz on 25/06/2016 - 01:00

        No option that I can see to exchange it to a visa gift card and I called the Altitude Rewards number as well who confirmed that they do not have a similar offering..only gift cards for select retailers.

        There is an option to exchange points to cover your annual card fee but its limited to only once a year

        • furythree on 25/06/2016 - 21:26

          a mate of mine said they have this feature called spend and erase

          like if you go buy some groceries, you can "erase" the transaction by essentially converting points into straight credits that offset that payment

  • Bargaingeek on 24/06/2016 - 23:47

    Westpac are the biggest bastards

  • imaxsameer on 25/06/2016 - 07:55

    David Jones Amex is better than this.

  • arctan on 25/06/2016 - 10:21

    World master card can get you starwood gold membership for free?

  • All Blacks NZ on 25/06/2016 - 12:57
    +2

    I got the nab card with 15 months interest free on purchases. I am gonna spend all the money on the credit card and put money aside into the mortgage. Pay it off at the end. Plus I still get points for spending money. Pretty good deal I think.

    • prosey on 26/06/2016 - 14:12

      Thanks for sharing! Might give that a go actually.

    • fritzsticker on 27/06/2016 - 10:33

      Does your technique work?

      • All Blacks NZ on 27/06/2016 - 11:28

        Well its something I have not seen anywhere else before. usually you get interest free balance transfer offers but this is offering 15 months 0% interest on purchases which I have never seen before. So it basically means whatever your limit is you can max the credit card and pay it off in 15 months. I guess, they are counting on people to not pay it off in lump sum at the end and pay interest on the balance. This will only work for people who are good with putting money away and will clear the balance in 15 months. We spend around $40k a year. I am gonna try and get my wife $20k limit as well so all the spending goes on credit card and we put that money aside in home loan. In theory, it works great. lol

        • fritzsticker on 01/07/2016 - 02:27

          Mmm true.. Thanks for the tips.. Any credit card that does this with no annual fee??

  • oswade on 25/06/2016 - 14:18

    Misleading title, the 1.5% depends entirely on what you redeem points on, and assumes you put everything on the amex (not all places accept amex).

    Nothing special here imo.

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