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Auswide Bank Platinum Rewards Mastercard
Auswide Bank Platinum Rewards Mastercard

Auswide Bank

Auswide Bank Platinum Rewards Mastercard

Updated 25 November 2019

Points Earn Rate (per $1 spent)

1

point

Rewards

Rewards Program

Rewards

Bonus Points

20,000 pts

Spend $3,000 in the first 90 days

0 points over 12 months spend

My monthly card spend

Pros and cons

  • Pay 0% p.a. interest for 14 months on balances transferred from other credit cards (reverts to cash advance rate).
  • Earn 20,000 reward points when you spend $3,000 in the first 3 months
  • Complimentary International Travel Insurance
  • Discounted $99 annual fee in the first year. $129 p.a. thereafter

  • High interest rates

Creditcard.com.au review

Editor Review

Auswide Bank Platinum Rewards Mastercard

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Auswide Bank Platinum Rewards Mastercard

Offering you the opportunity to earn rewards while enjoying a number of premium features, the Auswide Bank Platinum Rewards Mastercard certainly has a lot to offer. For a pretty reasonable annual fee, you can benefit from extras such as complimentary travel cover and a personal concierge service, plus 20,000 reward points when you spend $3,000 in the first three months, and 0% p.a. on balance transfers for 14 months.

What we love...

Let’s get to the introductory offers first. The Auswide Bank Platinum Rewards Mastercard currently has a great balance transfer offer, allowing you to transfer the balance from your existing credit cards to enjoy a rate of 0% p.a. for 14 months. If you are trying to pay down credit card debt, this could help you save heaps in interest to pay it all off quicker.

Now to those bonus points. As this is a rewards card, it’s nice to see you can get a good boost on your points earning, with 20,000 bonus reward points on offer. As a new cardholder, you can get your hands on those bonus points when you spend at least $3,000 on your card within 90 days of card approval.

As an everyday earner, the card keeps it pretty simple. You can earn 1 reward point for every $1 you spend on eligible purchases. Earning points on Card Services Rewards, you will be part of a pretty flexible program, with no points capping and no points expiry while your credit card account remains open.

When redeeming points, you have a number of options open to you. You can redeem your points for merchandise or for gift cards, or you can use Select and Credit to cover your annual fee or eligible purchases made on your card. Alternatively, you can use your points to book flights, hotels, rental cars and holiday packages through the program’s Travel Centre. If you prefer to utilise a frequent flyer program, you may also choose to convert your points to Singapore Airlines’ KrisFlyer or Virgin Australia's Velocity loyalty programs.

As a premium card, the Auswide Bank Platinum Rewards Mastercard has a few platinum perks on offer. These include a platinum concierge service, which assists cardholders with services such as booking travel and entertainment, and even organising gifts. On top of that, there are a number of complimentary travel covers, including:

  • Purchase Cover Insurance
  • Guaranteed Pricing Scheme
  • International Travel Insurance
  • Extended Warranty Insurance
  • Transit Accident Insurance
  • Interstate Flight Inconvenience Insurance

What’s not so great...

There’s no denying platinum rewards cards such as the Auswide Bank Platinum Rewards Mastercard offer plenty in the way of perks and rewards, but cardholders need to know how much they will pay to enjoy all that’s on offer. Happily, the card has a pretty reasonable annual fee for this type of card, but its interest on purchases and cash advances is high. So, to make the most of everything the card has to offer, it’s important to avoid interest charges accruing by clearing the card’s balance each month.

As for that balance transfer offer, cardholders should note that any transferred balance left unpaid at the end of the intro period will revert to card’s higher cash advance rate. In addition, your total balance transfers may not exceed 80% of your credit limit, and there is no interest free period on purchases while you have balance transfers, so interest will accrue from the purchase date.

Why should you choose this card?

If you’re looking to keep costs down with a fairly low annual fee, while still enjoying rewards and platinum perks, the Auswide Bank Platinum Rewards Mastercard could be for you. It has a decent annual fee for a card of this stature, which is waived for Auswide Bank Freedom Package customers. You can also add up to four additional cards to earn points faster, at no extra cost.

As a platinum card, it offers generous credit limits ranging from $6,000 to $100,000. It also has a relatively low minimum income requirement for a platinum card, at $35,000 per year. Aside from the features already mentioned, cardholders can also enjoy access to emergency card replacement, Mastercard Privileges, and security features including Mastercard Zero Liability and Fraudshield.

Overall Rating

Earning points on a flexible, straightforward rewards program, the Auswide Bank Platinum Rewards Mastercard also provides access to a range of platinum perks, with 20,000 bonus reward points on offer and 0% p.a. on balance transfers for 14 months.

User reviews

Auswide Bank Platinum Rewards Mastercard ( based on 1 Creditcard.com.au user review )

52% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 20.45% p.a.

Cash advance rate 21.74% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 14 months

Balance transfer revert rate 21.74% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit N/A

Banks you can't balance transfer from Auswide Bank

Credit limits

Minimum credit limt $500

Maximum credit limit N/A

Fees & repayments

Annual fee $129 p.a.

Additional card holder fee $0

Foreign transaction fee 3.40%

Minimum repayment

Annual fee the first year $99

Cash advance fee $3.50

Late payment fee $10

Rewards and points

Rewards program

Rewards Program Rewards Rewards

Bonus points 20,000 points

Annual points cap uncapped

Bonus points spend criteria Spend $3,000 in the first 90 days

Earning points with this card

Rewards Rewards points 1 point per $1 spent

Points cap per month N/A

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance Yes

Flight Inconvenience Insurance Yes

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance No

Overview

Auswide Bank Platinum Rewards Mastercard

The Auswide Bank Platinum Rewards Mastercard comes with a discounted $99 annual fee in the first year ($129 p.a. thereafter). Bonus 20,000 reward points when you spend $3,000 in the first 90 days. 0% p.a. for 14 months on balance transfers (reverts to cash advance rate. Note that no interest free days apply to retail purchases while you have a balance transfer.)

Key features

  • Pay 0% p.a. interest for 14 months on balances transferred from other credit cards (reverts to cash advance rate).
  • Earn 20,000 reward points when you spend $3,000 in the first 3 months
  • Up to 55 days interest free on purchases
  • Complimentary International Travel Insurance
  • Discounted $99 annual fee in the first year. $129 p.a. thereafter

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Permanent Resident or Australian Citizen

  • Minimum income of $35000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

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