Bankwest Zero Platinum Mastercard

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt Ask Pauline a Question about this card.

The Bankwest Zero Platinum Mastercard

Providing a selection of platinum perks with no annual fee, the Bankwest Zero Platinum Mastercard could be the perfect option for cardholders who want more, while paying less. Cardholders can benefit from travel insurance and retail cover on purchases, with no foreign transaction fees to worry about when making purchases overseas. Plus, this card currently offers 0% p.a. on balance transfers for 34 months with a one-time 2% balance transfer fee to new cardholders.

What we love...

It’s not often you come across a platinum card with no annual fee. While some may have introductory offers that reduce the amount you pay in annual fees over an introductory period, or perhaps offer a lower annual fee if you meet a certain yearly spend, the Bankwest Zero Platinum Mastercard is much more appealing than that.

Giving you the opportunity to save on interest and card costs, this card has no annual fee, ever. Plus, as a new cardholder, you can take advantage of the 0% p.a. on balance transfers for 34 months (a 2% balance transfer fee applies) allowing you to clear off your existing balance sooner and save heaps on interest. On top of that, any balance remaining would revert to the card’s standard balance transfer rate of 14.99% instead of the higher cash advance rate. The 2% balance transfer fee is payable on all transactions to which that balance transfer rate applies.

Regardless of how much you spend – or don’t spend – the Bankwest Zero Platinum Mastercard provides an excellent way to save money and could help keep costs down with its other handy features. Offering interest free shopping, the card gives up to 55 days interest free on purchases to cardholders, which could come in handy on larger items, as well as everyday spending.

It is worth noting that this interest free feature is quite common. What’s not so common though, is this card’s absence of a foreign transaction fee. Whether you’re using the card when travelling overseas, or you’re using it at home to shop online at overseas retailers, this feature could save you some serious cash.

Some credit cards charge up to 4% on foreign currency transactions, which can substantially reduce any savings made when shopping overseas. It can also make travelling much more expensive than it needs to be. With no foreign transaction fees on the Bankwest Zero Platinum Mastercard, transactions can come at no cost (this doesn’t apply to ATM transactions).

What’s not so great...

The Bankwest Zero Platinum Mastercard may be a platinum card, but it’s not overly burdened with platinum features. No annual fee cards tend to offer fewer features, as cardholders are technically not paying for them. However, as long as you are happy with the features that are on offer, you can enjoy them at no cost, as long as you clear your balance by the due date.

Why should you choose this card?

The Bankwest Zero Platinum Mastercard could be the ideal option for anyone who wants to bust credit card debt while saving on interest and fees as well as those who travel overseas, or shop online at international retailers. As we mentioned before, it offers 0% p.a. on balance transfers for 34 months (a 2% balance transfer fee applies), charges no annual fee, and has no foreign transaction fee so you can potentially save more with this card.

Another reason why the Bankwest Zero Platinum Mastercard may work well for keen travelers is its range of overseas travel insurances. Cardholders can take advantage of cover on overseas travel, as well as interstate flight inconvenience insurance and transit accident insurance. Retail purchases benefit from cover on extended warranty, price guarantee, and purchase security.

Overall Rating

Providing cardholders the opportunity to save on interest and annual fees, the Bankwest Zero Platinum Mastercard offers a longer balance transfer intro offer with perks on the side including travel and retail cover plus, it has no annual fee and no foreign transaction fee.