The Bank of Western Australia offers a number of credit cards that target different markets. They are the Lite range, which has a very low interest rate, the Zero range, which has no annual fee, and the More range which has a rewards program. Each of these cards has a standard, gold and platinum version of these cards. All the cards are offered by MasterCard.
The Lite range of credit cards is a range of credit cards that have a very low rate of interest for credit cards. The range is competitive for each of the three credit card types in the range, standard, gold and platinum. The gold card has a higher interest rate than the platinum card and the platinum card has a higher interest rate than both cards. The Lite range of credit cards charge annual fees.
The Lite credit cards do not run a points based rewards system, but they do have an instant discounts program, called RewardMe. This offers discounts for a variety of products when paying for the goods or services using the BankWest card.
The Lite card would best suit borrowers who have a heavy use of their credit card and retain a considerable balance on their card.
The Zero range of credit cards has no annual fee. Their interest rate is less than the More range, but somewhat higher than the Lite range. They have a very simple interest rate structure in that they do not differentiate between the balance that is built up through spending using the credit card or from cash advances. The Zero range also does not offer a points-based rewards program, but are eligible for the RewardMe program. There are zero annual fee gold and platinum cards, which are quite unusual.
The Zero range would suit very infrequent users of a credit card, but who may need to use it a few times a year in emergencies.
The More MasterCard range is a range of credit cards that do offer a rewards scheme. They have a higher interest rate than the other cards, and a higher annual fee. However their rewards system is generous and the cards are also eligible for the RewardMe program.
The More cards suit card users who spend a considerable amount a month on the credit card but then pay the money back in full each month.
There are prestige versions of the card in each range, both gold and platinum cards. There is also a low introductory rate on balance transfers.
