The BankWest Zero MasterCard is a credit card with no annual fee that is offered by the Bank of Western Australia in conjunction with the second largest credit card provider in the world, MasterCard.
The card does not charge an annual fee. However it also does not offer a rewards program like the “More” range of credit cards and the interest rate is higher than the “Lite” range of credit cards.
The BankWest Zero MasterCard is actually a reasonably straightforward credit card with very few different rules and a simple structure. The interest rate is somewhere between the low Lite rate and the high More rate. Unlike most cards without an annual fee they maintain a slightly competitive interest rate compared with the rest of the market.
There is a balance transfer deal that has a very low interest rate for the first nine months of the credit card. It does not apply to any spending on the card or any cash advances that are made during this period. After this time has run out then the card will go to the normal interest rate. There is a balance transfer fee of 1% of the balance that is transferred, but this is capped at $5,000 – or a maximum fee of $50. The balance transfer offer is not available from cards that are already operated by BankWest.
Unlike almost all other credit cards, particularly credit cards with a relatively low interest rate there is no difference between the credit card interest rate for spending on the credit card and the interest rate for cash advances.
There is a 55 day interest free grace period (which is unusual for zero annual fee credit cards). Up to three additional cards can be used by other members of the family on the account with no extra charges.
Although there is no rewards program for spending there is a good instant discounts program in the RewardMe program. This allows for a number of shops and service providers, including shops, retail outlets and cinemas, to offer instant discounts to anyone who uses the credit card at the shop.
The card is provided by MasterCard. This is the second largest credit card provider in the world and is accepted at almost thirty million locations around the world. MasterCard also operates a zero liability guarantee which means that any unauthorised transactions will not be charged to a card holder’s account.
