Bankwest have made the previously ‘invite-only’ Qantas World MasterCard open to applications for new Bankwest customers, not just existing Platinum cardholders, with a $270 annual fee.
The card suffered some changes from June 2016, when the Qantas Point earn was reduced from 1 Qantas Point per $ to 0.66. This was a significant blow to the utility of a key benefit of the card.
Otherwise the card is issued as a ‘World MasterCard’ and includes all its benefits, however, as of 14 July 2017, the Starwood Preferred Guest Gold status after a one night stay benefit is no longer included with this card due to Mastercard removing it as a benefit of World Mastercard.
Another key benefit is the lack of overseas transaction fees too, like Bankwest’s regular Platinum MasterCard.
Digging into the details
There’s no points cap on this card – by comparison the cap is 200,000 Qantas Points annually on the Bankwest Platinum card. This is outlined in the Bankwest Qantas Rewards PDS (pdf).
This card is a decent option for travellers, with these key benefits:
- 10% off participating Hertz car rental
- No overseas transaction fees
- Three months of Purchase Cover Insurance
- International Travel Insurance
- Interstate Flight Inconvenience Insurance (within Australia)
Halo Payment Ring
These Bankwest cards are also eligible for the Halo Payment Ring, embedded with a Mastercard Contactless chip.
Summing up – Bankwest Qantas World
The Bankwest World Mastercard has a unique place in the market as the only Qantas Point earning card with no overseas transaction fees. The 0.66 Qantas Points per $ earn rate is not the best out there for a Mastercard, but any signup bonus on offer for this card may increase the appeal to new cardholders.
The no foreign transaction fee is a winner for this card with frequent flyer points earned on the side with a great earn rate of 1:1.
I’ve just transferred across at 17k limit and $160 annual fee.
I tried to get one of the sales rep in Bankwest to upgrade my Platinum immediately during the application process however it was declined by the credit team.