Point Hacks Credit Card Guide

Guide to Bankwest Qantas Classic & Platinum credit cards

Bankwest has recently decided to offer their Qantas World Mastercard to new customers, and in return have eliminated the Qantas Gold Mastercard from their Qantas cards range.

We will take look into the details of both the Qantas Classic and Platinum Mastercard in this guide. The Platinum MasterCard is packed with similar benefits as the World Mastercard version and comes with a standard $160 annual fee which can also be bundled with your Bankwest home loan, if you have one.

Bankwest Qantas Platinum MasterCard

Earning Qantas Points from Spend

Bankwest has downgraded the earn rate of the Platinum card in June 2016 from 0.75 Qantas point to 0.5 Qantas point per $1 on day to day spend with a cap of 200,000 points per year. There are no overseas or Qantas spend bonuses.

The Classic card also earns 0.5 Qantas Points per $1 on spend but with an annual cap 50,000 point and limited benefits.

Other Benefits of the Bankwest Qantas Platinum Mastercard

The best benefit of the Platinum card over the Classic in my opinion is the waived foreign transaction fees, with this card being one of the few cards on the market together with the Bankwest World Mastercard which offers this waiver while still allowing you to earn points.

Given there is usually a 2.95% surcharge on your overseas spend with Bankwest’s other cards, this is a substantial saving, and covers online and in-person transactions.

The Bankwest Qantas Platinum card also offers travel insurance with up to 6 months per trip coverage and $3,000 of car hire insurance excess. There are more details on the included insurances here.

This guide references some of the benefits of insurance policies provided with this card.

You should read the PDS and obtain independent professional advice before obtaining this product.

Card Details 
CardBankwest Qantas Platinum MasterCard
Loyalty programQantas Frequent Flyer
Points earned from spend0.5 Qantas Points per $ spent
Points cap200,000 points annually
Travel benefitsWaived foreign transaction fees
Included insurancesDomestic and international travel insurance, purchase security insurance (PDS)
Overseas transaction fee0% for online and overseas purchases
Annual fee$160

Comparing Bankwest Platinum to Classic

With the same earn rate on both cards, the primary differences in benefits between the two are the points capping and the foreign transaction fee waiver.

The annual fee for the Classic is $100. Given the Platinum card is only $160, I’d suggest going for the Platinum card, specially since it comes with complimentary insurances while the Classic does not.

Card Details 
CardBankwest Qantas Classic MasterCard
Loyalty programQantas Frequent Flyer
Points earned from spend0.5 Qantas Points per $1 spent
Points cap50,000 points annually
Travel benefitsn/a
Included insurancesn/a
Overseas transaction fee2.95% of the converted amount
Annual fee$100

Halo Payment Ring

These Bankwest cards are also eligible for the Halo Payment Ring, embedded with a Mastercard Contactless chip.

Summary – Bankwest Qantas MasterCard range

The earn rate for both Classic and Platinum cards are not the best in the market, however, if there’s a decent sign up bonus on offer and you spend a considerable amount on overseas transactions and prefer saving cash to earning more points, then the Platinum card is a decent option.

Otherwise, there are Qantas Cards out there with higher earn rates on spend which you could probably consider instead.

Guide to Bankwest Qantas Classic & Platinum credit cards was last modified: December 22nd, 2018 by Keith

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  1. Hello Keith

    Quick question as I can never seem to read these things correctly.

    What I was looking for was a card with $0 international fees and the ability to earn points on international transaction. I already have the NAB 1 point per dollar mastercard and 1.5 points per dollar AMEX so these would be everyday but this card would be for overseas transactions.

    Currently I am spending around $3500 a month on overseas transactions.

    Worth it?

    • Keith Author

      You’ll need to run the maths and decide for yourself. With the NAB account you’ll be paying ~2%-3% more on each transaction than with the Bankwest Platinum, with a lower points earn rate.

    • Sorry I confused even myself.

      Currently I use 28 degrees for overseas transactions so no fee but also no points accumulation.

      This card will cost $160 but I think the 50,000 points credited to my QFF account and the points I will accumulate on a $3000 a month spend should at least exceed the cost of owning the card for one year. At the end of the year I would try and get Bankwest to waive the fee or I will move on.

      Am I missing something here 🙂

  2. Thomas

    Any word on minimum salary? I’ve applied for a platinum bank west before and after preliminarily being accepted, got rejected with poor explanation. This was the only reason I could think of.

    • Keith Author

      To my knowledge Bankwest don’t publish a minimum salary, or at least I haven’t seen one where I would expect it to be published if they did.

  3. Campbell

    Hi Keith
    Great website btw. Used your advice on recent European trip on MA and also your advice on departing Paris instead of LON when in Buisness class due to departure taxes. Thanks very much!
    On these Bankwest platnum mastercard, it is certain they do not give points for ATO payments? I have several land tax and ATO payments due this year (not common, not a small business) and have been a loyal WOW Qantas cardholder (4 years – got them to waive my annual fee so will use it up to the $3000 pm for 1:1), , but want to get another 1:1 card or close. I like the Bankwest 50,000 signup and potetial to get the qantas world card. The bankwest terms states they exclude “government charges” from points. There is much conjucture what this means, as HSBC qantas platinum says the same thing but still gives points for ATO. Does bankwest definitely not give points for ATO and OSR payments from your personal experience?

  4. Erik

    I managed to get my Platinum to be upgraded immediately to World however it means that I will have $220 annual fee instead of $160 and loss my promo points.

    I am quite unhappy but probably decide to keep the Platinum just to get the points.

    • What would stop you keeping the Platinum for a couple of months until the points come through, then doing the upgrade? Doesn’t seem too much to be unhappy about here…

  5. Matt

    I took up this offer last week with Bankwest. There new policy is wait six months on the platinum card then upgrade to the world card. You need to have a credit limit of 12k for the world card. I could not fault Bankwest’s customer service they even offered me a discounted home loan of 4.2%. Considering its only 60k for business class BNE to HKG one way the $160 annual fee is quite cheap in my book.

Links to this article

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