This was posted 1 year 10 months ago, and might be an out-dated deal.

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Bankwest Platinum Mastercard Credit Card: 40k Qantas Points with $3,000 Spend in 90 Days, $160 Annual Fee, No Int'l Trans Fees

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Bankwest Platinum Mastercard Credit Card: 40k Qantas Points with $3,000 Spend in 90 Days, $160 Annual Fee, No Int'l Trans Fees
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popcornminion on 22/01/2023 - 15:21 bankwest.com.au (873 clicks)
Last edited 23/01/2023 - 15:10 by 1 other user

I was looking for a card with zero international transaction fees and noticed that Bankwest is doing a limited time offer with 40,000 Qantas points with $3k spend in the first 90 days (transferred within 5 months of opening). An additional 10,000 points will be awarded if the account is still open after 15 months.

Not the best offer out there when comparing bonus points vs first year annual fee, but maybe it's worth considering if you're planning on travelling overseas since it has zero international transaction fees (and also earns 0.75 points per dollar for the first $2,500 and 0.3 points afterwards). At least it is something in exchange for a credit check.

Eligibility - if you haven't opened a Bankwest Qantas Mastercard in the last 24 months.

Financial Credit Card Frequent Flyer MasterCard Qantas Frequent Flyer Reward Points

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Bankwest
Bankwest
MasterCard AU
MasterCard AU
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Qantas
Qantas

closed Comments

  • qq830821 on 22/01/2023 - 15:24

    the bonus points are getting a lot less, time to look for a US credit card

  • lakes_8 on 22/01/2023 - 15:43
    +5

    Terrible offer besides the international fee

  • y4lla on 22/01/2023 - 15:56
    +12

    Better off going for the CBA ultimate….same no int. transaction fee with 70K qantas points + no annual fee.

    https://www.commbank.com.au/credit-cards/ultimate.html

    • popcornminion on 22/01/2023 - 16:04
      +4

      damn you're right, that's a pretty good deal.

      I think only catch is you have to spend at least $2,500 a month to qualify for no monthly fee - otherwise it's $35 a month which is quite steep. I'm hoping to get it as a secondary card (for travel mainly) so probably won't be hitting the $2,500 spend a month for most months.

      • nightelves on 22/01/2023 - 17:41

        I swear I’m not seeing the bonus 40k from BankWest.

      • cerealsmok3r on 23/01/2023 - 01:40

        Yeah this is partly the reason why I don’t have. I believe if you have a home loan with them this doesn’t matter?

        • djkelly69 on 23/01/2023 - 13:43

          CBA Ultimate isn't eligible for the free credit card with a home loan thing.

    • alex123711 on 16/02/2023 - 12:34

      What are the qantas points worth

    • Mulcha on 28/02/2023 - 06:34

      @y4lla, you should post a deal on the CBQ Qantas!

  • babiguling on 22/01/2023 - 16:35
    +1

    @op. Zero intl transaction fee no annual fee, 28 degree mastercard

    • popcornminion on 22/01/2023 - 16:49

      thanks! I'm ok with essentially paying $160 for 40k points, especially since I can only do so many credit checks a year.

      • TimOfEastBNE on 22/01/2023 - 20:39
        -1

        Why can you do "only so many credit checks a year"? You can do a lot, and it won't have any effect

        • rst60G on 07/02/2023 - 16:20

          Some banks have unofficial policies to unconditionally deny credit applications (credit cards, home loans, etc.) after you've had a certain number of credit checks made against your name, as this can be an indication that you're struggling financially. Most credit checks don't affect your credit score, but it's the other effects you need to watch out for.

  • AussieDeals on 22/01/2023 - 16:49
    +8

    Best to avoid this unappealing offer with its low 40K points and $160 fee and instead churn & burn the much better signup card offers (e.g. CBA 70K) while keeping a Bankwest Zero Platinum MC, Bendigo Ready Credit Platinum MC, or ING Low Rate Platinum VISA for travel purposes (all 3 are no annual fee credit cards with 0% international fees and travel insurance). Only worth considering if you're still in waiting periods between churns for every other bank

    • cerealsmok3r on 23/01/2023 - 01:41

      Yep can confirm that the platinum zero is a much better card to have as a must have

  • Bal on 22/01/2023 - 17:05

    Coles one is pretty good too if you are only using the credit card for retail purchases when internationally. Not so great for cash advances as it charges a 2.5% fee.

    https://www.coles.com.au/credit-cards/rewards?cid=mcard:cpc:…

  • ddhar on 22/01/2023 - 17:07

    $160 AF and 0.75 QFF/$ (up to $2500) are not great.

    I have this card only because it's the only option left to me (and I urgently need bonus points to retain Points Club).

    Be aware Bankwest does not credit the QFF every statement period (instead accruing it until, I guess, the minimum spend is met).

    • FirstWizard on 23/01/2023 - 09:52

      So they accrue points until the minimum spend, and your account is in good standing for 60 days (from memory), whichever is the latest. Also the points are credited on the 5th of each month, irrespective of what your statement date is. So say your first statement is on the 6th, then you'd be waiting for a lot longer than 60 days for bonus points.

  • Chris12345 on 22/01/2023 - 18:00

    Does it always take up to 5 months to transfer bonus points? I'm new to the cc churning for points game. Just about to hit the 2k spend I need on an NAB card - can anyone with experience say if I will be waiting that long for points transferred to Qantas FF account?

  • jay889344 on 22/01/2023 - 19:05
    +10

    I'm sorry to neg (don't think I ever have), but having looked at credit card comparisons today for QFF points, this deal isn't really that good for the below reasons:

    1. $160 AF is a bit more than I'd want for only 40K QFF Points

    2. $3K spend is a fair bit for 40K QFF Points (I usually get between 70K - 100K QFF points for $3K spend

    3. There are simply better deals out there to get more points for equivalent spend with comparable annual fee from big 4 banks

    • djkelly69 on 22/01/2023 - 21:30
      +1

      You are really comparing apples and oranges there.

      The use case for this card is not really churn and burn, it is a no international fee card for travel, which earns points and has bonus points as well.

      CBA Ultimate is probably the main competition, but the $2.5k spend per month to avoid the fee could be an issue for some.

      • jay889344 on 23/01/2023 - 16:52

        So comparing to the NAB Qantas Rewards Signature card:

        1. Also $3K spend for bonus points but you get 120K QFF points vs 40K for this deal

        2. Annual fee is only $35 higher with the NAB card ($195 vs $160)

        3. Yes no international fee avoidance, but does that compensate for getting triple the number of QFF points as a bonus for spending $3K? I'd argue not when even without the credit card conversion for international rates, you're likely better off paying cash wherever possible anyway because the conversion rate the banks use even before international fees includes a fair bit of fat. I just got back from the US. I was able to get 70c per $1 AUD there converting cash, but anything I put on my CBA ultimate, I would lose 3-4 cents in the conversion rate so it kind of eats up any benefit anyway

        In short, take your point but I don't think that no international fee thing is worth losing 80K QFF points for with same spend requirement and basically same annual fee

        • djkelly69 on 23/01/2023 - 17:42
          -1

          Again, you are looking at it from the point of view of a points collector/churn and burner. FF points might be your main consideration, but they are not everyone's, and that is not the purpose of this card. The FF points on this card are just an added bonus because not many international fee-free cards come with any points.

          Also just to note for your 'comparison', the NAB Qantas Rewards Signature appears to be $295 per annum, plus you would have to pay another $395 the following year in order to get the full 120k QF points (90k first year, 30k second year). There is also the opportunity cost of having to hold the NAB card for at least a year.

          Cash vs card is a very different discussion, but you can't get any better rate on a card than the one the card provider uses (which this card does). FWIW the official AUD/USD exchange rate doesn't appear to have been above $0.70 since August last year, so it is not a surprise you weren't getting that rate on your CBA Ultimate.

          • jay889344 on 23/01/2023 - 20:00

            @djkelly69: Its literally US 70 cents right now. I got back yday. I'm not looking at it as a points collector/churn and burner. I'm saying the points above don't make it a better purchase than other cards. You could sell the extra 80K QFF points for circa $800 if you wanted and that would more than compensate for any international fees anyway. Again, you'd be better off not using your card where possible anyway.

            Also, its $195 because its $295 with $100 cash back

            • djkelly69 on 23/01/2023 - 20:48
              -1

              @jay889344: Yes it hit that mark today-ish.

              NAB card is normally $395pa and is $100 off for the first year, so $295.

              Even by your calculation method, $690 for 120k QF points is not better than $160 for 40k.

              Aside from selling QF points being against the T&Cs, you have no idea how much someone might be spending o/s. It is up to the person to work out for themselves if they will be better off.

  • MisterEd on 22/01/2023 - 22:42
    -2

    Note that No international transaction fee still has a currency conversion fee, always check what the reference rate is for your banks to see the spread they’re using

    • Nom on 23/01/2023 - 09:38
      +2

      That's not how it works - if the MasterCard has no international transaction fee then it uses the MasterCard rates which are here - https://www.mastercard.com.au/content/mastercardcom/us/en/pe… - these don't vary between card or bank, they're the base rate for all MasterCard transactions.

      • mikeadwell on 23/01/2023 - 23:41

        It's still higher than interbank which Revolut and Wise use and so you'll get better rates from them.

        • Nom on 23/01/2023 - 23:42

          The difference is very small though - MasterCard and Visa rates are pretty good.

  • adrianhughes1998 on 22/01/2023 - 23:36
    +1

    Actually BankWest Platinum Debit MasterCard has zero international transaction fees etc, so why even bother with this credit card at all.

    • FirstWizard on 23/01/2023 - 09:57

      You only get 5 Qantas points per transaction with that BankWest Platinum Qantas Debit MasterCard, no matter how big your transaction is.

      • adrianhughes1998 on 23/01/2023 - 10:05

        Yes I know that, but the points bonus on this card is pretty weak as others have said.

        • FirstWizard on 23/01/2023 - 10:16

          Bankwest has some of the only few remaining cards that offer no international fees and Qantas points.

          So you may have to do a calculation on how much international spending you have and if that's worth the annual fee.
          eg: If you're travelling internationally often, only redeem your Qantas points on Business rewards(you can get better value with upgrades, but it's hard to put a $ value on those), you need approx ~$7111 yearly spend just to recover the annual fee. But if you're spending more, then it's beneficial.

          • adrianhughes1998 on 23/01/2023 - 10:20

            @FirstWizard: I know that, I'm speaking about points bonuses for Qantas points churners like me. And I have the Platinum Debit card cos I used it last year while in Fiji.

            Just not worth the effort for most people unfortunately.

            • FirstWizard on 23/01/2023 - 11:04
              -1

              @adrianhughes1998: Yeah, gotcha, for purely churning, this is not a good card — agreed.

              If an International fee-free debit card is what they are after, there are so many other better cards than Bankwest debit to pick from.

              Actually BankWest Platinum Debit MasterCard has zero international transaction fees etc, so why even bother with this credit card at all.

              But there is a niche group of people who will bother/benefit from getting a BW card if they want to earn Qantas points on both international and domestic spending, and monthly spending is lower than $2.5k to go for the CBA ultimate card (not to mention its crappy domestic earn rate), etc. etc.

  • SneezyTang on 23/01/2023 - 11:27

    What are you guys spending on to meet the $3000 spend? Is there some things I can spend on that will avoid the 1-2% credit card transaction fees?

    • ddhar on 23/01/2023 - 14:56

      Bills (insurance, health funds prepayment, electricity, etc.) and self-love (shopping for oneself).

      An overseas holiday will sort things out quickly too.

    • nanny0tt on 24/01/2023 - 13:09

      you can always stock up on gift cards from wws/coles

      • timhn on 26/01/2023 - 07:52

        Or Amazon gc.

        Can also pay your utilities bills in advance - via BeamIt to avoid fees.

  • alex123711 on 16/02/2023 - 12:34

    What are the qantas points worth

  • illusiveguy on 17/02/2023 - 09:35

    It says new customers only, so I'm not eligible if I have another Bankwest card?

  • ddhar on 07/03/2023 - 15:54

    I am not happy.

    I signed up in Nov-22, met the spend requirements in Jan-23 and still have not received any QFF from Bankwest in Mar-23.
    When asked, they apparently will only credit it "within 5 months". I've never had this kind of delay from other providers (whom I'm sure have similar stipulations). Regrettably I'm going to lose my Points Club status because I can't meet the 20K shortfall before the end of the month.

    Not recommended.

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