Bankwest More World Mastercard

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Big Review: Bankwest More World Mastercard

An excellent option for frequent travellers, the Bankwest More World Mastercard offers airport lounge access with Mastercard Travel Pass, no foreign transaction fees and a range of included travel and retail insurances. As a rewards card, it earns points on Bankwest’s own More Rewards program. Working well for big spenders, it has an uncapped earn rate of 2.5 points per $1 spend.

• Earn 2.5 points per $1 spent on eligible purchases
• Uncapped points earning
• No foreign transaction fees
• 10 airport lounge visits per calendar year at over 1300 airport lounges worldwide with Mastercard Travel Pass
• Included insurances covering retail and travel purchases
• 0% p.a. on balance transfers for six months with a 1% balance transfer fee

• Annual Fee: $270
• Additional Cardholder Fee: $0 for up to three cardholders
• Purchase Rate: 19.99% p.a. (variable)
• Cash Advance Rate: 21.99% p.a. (variable)

This Card: The Lowdown

Designed to reward big spenders, the Bankwest More World Mastercard offers Bankwest’s highest earn rate on its More Rewards program – 2.5 points per $1 spent on all eligible purchases – with uncapped points earning potential.

When it comes to features, these focus on travel perks, providing cardholders and their guests with 10 airport lounge access with Mastercard Travel Pass per calendar year (1300 lounges worldwide), a range of travel and retail insurance covers, and no foreign transaction fees on overseas purchases made in person and at online retailers.

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the Bankwest More World Mastercard, so you can decide whether this card is right for you.

This Card: As a Rewards Card

Earning Points

As you would expect, the Bankwest More World Mastercard has the highest earn rate on Bankwest’s More Rewards cards. With the Bankwest More World Mastercard, you will earn 2.5 points per $1 spent on eligible purchases.

Meanwhile, the Bankwest More Card has an earn rate of 1.5 points per $1, capped at 150,000 points per year, and the Bankwest More Platinum Card earns 2 points per $1, with a cap of 400,000 points per year.

Another plus point on the Bankwest More World Mastercard is the fact that it has no points cap in place, unlike the two other More Rewards cards on offer.

However, even if the card has no points cap, the points you earn do have an expiry date. If you do not use your points within 36 months, they will expire. In addition, your points will only be credited to your account once you have spent at least $1,500 on eligible purchases, and your account has been opened for at least two months.

Redeeming Points

As Bankwest’s own rewards program, the More Rewards program may not be that familiar to you. However, More Rewards works in much the same way as most other rewards programs, providing cardholders with access to travel, merchandise, gift cards and cashback.

As for merchandise, you can visit the online More Rewards store to redeem your points for more than 3,000 items within a wide range of categories. These include baby and kids, beauty and fashion, electrical, entertainment, fitness and outdoor, food and wine, and home and garden.

Looking for your next adventure? Having teamed up with Webjet, More Rewards allows you to use your points to book flights and holiday packages instantly with Webjet. If you don’t have enough points, you can make up the difference on your card.

This Card: As a Travel Rewards Card

As Bankwest has named this its ‘World’ card, you would expect a few extras designed to benefit the frequent traveller. Fortunately, the Bankwest More World Mastercard doesn’t disappoint.

No Foreign Transaction Fees

The Bankwest More World Mastercard has no foreign transaction fees, allowing you to save money when shopping overseas, or when buying stuff online from international retailers.

The card should have a 2.95% foreign transaction fee, but this fee is waived on the Platinum and World cards. Bearing in mind some cards charge up to 4% of the transaction amount, the Bankwest More World Mastercard could be a great choice for frequent travellers, and lovers of international online shopping.

Airport Lounge Access

When you travel overseas, waiting around at the airport has to be one of the most tiresome parts of the journey. Lounge access can make it somewhat easier to bear. With the Bankwest More World Mastercard, you’ll have access to 10 lounge visits per calendar year at more than 1,300 airport lounges around the world via Mastercard Travel Pass.

Haven’t heard of Mastercard Travel Pass? It's a program that provides airport benefits such as lounge access, airport transfers, and security fast track via mobile app. It lets you hang out in airport lounges to take advantage of the various facilities they have on offer, such as complimentary food and beverages, Wi-Fi access, comfortable seating and business facilities.

Before you travel, simply visit Mastercard Travel Pass website or mobile app to find out which lounges are available within the airports you are travelling through.

To find out what each lounge option offers – and the various conditions that may apply – it’s a good idea to check the Mastercard Travel Pass site or app, to ensure you get the most value out of each visit.

Travel Insurance

Another great perk for the frequent traveller, the Bankwest More World Mastercard provides a range of travel insurances, providing cover overseas and within Australia. This cover includes:

• Overseas travel and medical insurance, including emergency dental repair, ambulance cover and hospital charges.
• Interstate flight inconvenience insurance, covering you for travel interstate within Australia on holidays up to 14 days.

If you generally buy standalone insurance, this feature could potentially save you a lot of money each year. But of course, as with any insurance cover, conditions and exclusions apply, so read the PDS before you travel.

This Card: Extras on Offer

As the Bankwest More World Mastercard sits on the highest rung of the More cards ladder, it provides a selection of added extras, which help to offer more value to the cardholder.

Retail Cover

Similar to many other cards of this calibre, the Bankwest More World Mastercard provides cover on eligible retail purchases, in the form of extended warranty and purchase security insurance. These can offer valuable cover, helping you to save money, while protecting your purchases.

Balance Transfer Offer

The Bankwest More World Mastercard provides 0% p.a. on balance transfers for six months, with a 1% balance transfer fee. You can transfer up to 95% of your approved credit limit from non-Bankwest branded cards.

This Card: The Essentials

As we’ve already stated, the Bankwest More World Mastercard has a pretty significant annual fee. However, it’s worth pointing out that you can add up to three free additional cardholders to the account, helping you to earn points faster.

The card provides a nice earn rate, with no points cap, which could make it a worthy choice for big spenders. However, with its high purchase rate, cardholders would need to clear their balance by the due date each month to avoid interest adding up, thereby reducing the value of the features and rewards on offer.

As for eligibility, you must be 18 or over to apply, and you must be an Australian permanent resident. Note, the card has a minimum credit limit of $12,000, and there is only one Bankwest More Mastercard account allowed per customer.

Decision Time

Catering to the frequent traveller who spends big on their credit card, the Bankwest More World Mastercard offers a high earn rate and uncapped points earning. Features provided include no foreign transaction fees, travel and retail insurance covers, airport lounge access, and 0% p.a. on balance transfers for six months.