Bankwest Breeze Credit Card with 5% Cashback on Everyday Purchases - any experience?

scotty on 14/09/2011 - 16:45

I was at the shops just then and saw an ad on Bankwest Breeze Mastercard, which is basically a low rate credit card with 5.99% for the first 12 months. I don't really care about the low rate as I normally pay the balance in full. However they are also currently running a promotion — "apply today and for 12 months you’ll enjoy 5% cashback on your everyday spend".

So when I look up on the Cashback Offer Terms and Conditions (PDF) on their definition of "cashback", it states:

  1. 5% Cashback Offer is available to customers who apply for a Bankwest Breeze MasterCard account on or before 31 October 2011.
  2. For 12 months from the account open date, if you are an eligible customer your account will be credited, on a monthly basis, with 5% of the value of each eligible purchase made using the Bankwest Breeze MasterCard. Cashback will be automatically credited to your account on the first day of your next statement cycle.
  3. Eligible purchase means: purchases at grocery stores, petrol stations and on utility bills where one or more of the following MasterCard Merchant Category Codes apply: 5411-Grocery Stores & Supermarkets, 5541-Service Stations, 4900-Utilities, 5499-Miscellaneous & Special Food Stores, 5172-Petroleum & Petroleum Products, 5542-Automated Fuel Dispensers (category codes are subject to change). Excludes balance transfers, cash advances and business-related purchases.

So basically you will get 5% back on supermarket purchases, petrol station purchases and utility bills, for up to 12 months. They do have annual fee for the first year though ($69 I think), which means you'll need to spend at least $1,380 in supermarket, petrol station, etc in a year to make it worthwhile, which is not hard at all (for my family of 4 anyway). There is a spending threshold to have annual fee exempted for subsequent years ($10k for classic, $15k for gold card).

Is this a good deal?

I am still on the old Citibank-BP credit card that gives 5% cashback on BP petrol stations and 0.5% everywhere else (up to $5,000 a month). The cashback there gets more and more restrictive + higher annual fee + fee on additional cards. Would the Bankwest Breeze card a good replacement? Otherwise, what other good cashback cards are there?

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Comments

  • RandomNinja on 14/09/2011 - 16:55

    It's looks like a good deal on paper, but it's only for 12 months. After that, it's no longer better than the BP card.

    IMHO the ideal setup would be some kind of Amex card with FF, but no annual fee along with a 28 degrees card for places that don't accept Amex (and foreign transactions). Pretty much all upside!

    Edit: I was also on the BP card, but got an upgrade to their Citibusiness Gold with no increase in annual fee. They've dropped their supplemental card holder fee and their rewards system gives an equivalent cashback in pre-paid Mastercards at a rate of 0.74%.

    Maybe you can give Citi a call and fish for an upgrade?

    • scotty on 14/09/2011 - 17:16

      FF is a bit useless to me as I don't travel that much. So sounds like I shall give Citi a call as I've been on that card for 4+ years.

  • ShortyX on 14/09/2011 - 19:32

    I just signed up for the Qantas Amex Discovery and Woolworths Qantas.

    Is there anything stopping someone from using that Bankwest card for a year then ditching it?

    That Citibusiness Gold card looks pretty good.

    Scotty - I don't travel much either but was thinking of starting to collect FF points. Do you think cashback and other rewards are better than FF?

    • scotty on 14/09/2011 - 19:40

      Actually I haven't really looked into Frequent Flyer points. I thought the main attraction is to redeem travel related rewards (airfare, hotel, etc)? As I don't really travel much it would not be very useful to me. Much prefer cashback in dollar amount.

  • neil on 14/09/2011 - 20:11

    I'm also still on the BP Citibank card and looking to move. The Bankwest deal would be good if it covered everything but it's pretty easy to get 5% off Coles or Woolworths through a rewards program like Infinite Rewards or eBay so no deal to me.

  • cyssero on 14/09/2011 - 22:14

    On the surface it looks like a good deal but as Neil pointed out you can already get 5% off on those categories by buying WISH cards at discounted rates.

    A lot of platinum cards (particularly AMEX ones) give you 3 points per dollar spent on anything. This gives you about 1.62% cashback (cashback in the form of gift cards). This works best for me, and you get added travel insurance, extended warranty and access to AMEX Network promotions (that appear here so frequently. You'll even get a linked MasterCard with most of these that is useful for any time you can't use the AMEX (but only gives you a 0.054% cashback).

  • fish on 15/09/2011 - 09:58

    Still thinking to get an AMEX card, which one has no card fee, and best package?

    • joannatan on 15/09/2011 - 10:57

      qantas discover card and today is the last day for you to apply this card for you entitle for the bonus qff

      • neil on 15/09/2011 - 11:13

        I think they keep moving the expiration date up automatically. Gives the customer incentive to sign up before it runs out.

        Posted in December 2010, http://www.ozbargain.com.au/node/35974

  • adam on 29/10/2011 - 11:34

    I signed up for this card & think its a good deal, but then I immediately had to work out what stores/purchases would actually get me the 5% cashback. The best reference source for MCC codes I could find was here http://www.citopay.com/Merchant_Category_Code_MasterCard.pdf and it explains the qualifying codes as follows:

    Grocery Stores, Supermarkets

    Merchants that sell a complete line of food merchandise for home consumption. Food products for sale include groceries, meat, produce, dairy products, and canned, frozen, prepackaged, and dry foods. Other products for sale may include a limited selection of housewares, cleaning and polishing products, personal hygiene products, cosmetics, greeting cards, books, magazines, household items, and dry goods. These merchants may also operate specialized departments such as an in-store deli counter, meat counter, pharmacy, or floral department. For convenience stores that sell a limited selection of products or specialty items, use MCC 5499

    Service Stations (with or without Ancillary Services)

    Merchants that sell fuel for consumer use and may or may not also have a convenience store, car wash, or automotive repair shop on the premises. These merchants process MasterCard card transactions by requiring customers to present the card to an attendant and sign a sales draft. This MCC includes service station merchants located at a marina that have a separate merchant agreement from that of the marina. For service stations selling fuel by automated fuel dispensers, use MCC 5542.

    Utilities—Electric, Gas, Heating Oil, Sanitary, Water

    The ongoing generation, transmission, or distribution of electricity, gas (natural or propane), home heating oil, water system supply services, or collection and disposal of refuse. For merchants providing telecommunication services, use MCC 4814.

    Miscellaneous Food Stores—Convenience Stores, Markets, Specialty Stores, and Vending Machines

    Merchants that sell specialty foods not elsewhere classified. It includes specialty food markets, health food and dietary supplement stores, delicatessens, poultry shops, coffee stores, vegetable and fruit markets, ice cream and yogurt shops, and convenience stores. For convenience stores that also sell automotive gasoline, use MCC 5541. For merchants that primarily sell meat and seafood, use MCC 5422.

    Petroleum and Petroleum Products

    Wholesale distributors of petroleum and petroleum products, such as butane gas, crude oil, fuel oil, gasoline, kerosene, lubricating oils and greases, and naphtha. Merchants that provide aircraft fueling services are also included. For retailers that sell fuel oil, heating oil, wood, coal, or gas propane, use MCC 5983.

    Fuel Dispenser, Automated

    Merchants that sell automotive gasoline using typically unattended Automated Fuel Dispensers, enabling cardholders to purchase fuel by completing the transaction at the pump.

  • adam on 29/10/2011 - 11:35

    Experience from having received my first statement shows that purchases from butchers & pharmacists do not qualify. I'd be interested if anyone else has any experience of things that might be borderline & whether or not they qualify.

  • shortgum on 29/10/2011 - 20:40

    which pharmacist did you go to? I went to chemist depot it is working

  • adam on 29/10/2011 - 21:52

    Got cashback:
    Woolworths
    Aldi
    Caltex

    Didn't get cashback:
    Terry White Chemists

  • shortgum on 29/10/2011 - 22:11

    anyone tried to pay work with strata levy, council rates, electricity and gas, water, telephone bills, private health insurance work with the cashback?

    pls let us know

  • sonicentropy on 30/10/2011 - 09:56

    I do a lot of travel for work, hotels, car hire, equipment ect. I am trying to maximise this (ATM I am getting $200 gift vouchers from virgin/priority club) every 3 months, I need a card that gives me credits or points for travel expenses.

  • shortgum on 31/10/2011 - 20:40

    I called bankwest team today. there are just so much limitation for the 5% cashback offer. feel wasted now getting this credit card.

    We should get thru $69 breakeven no problem. but the point is waste of time getting it

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