Westpac Airpoints Business Mastercard Review
Manage your business expenses while being rewarded with Airpoints Dollars and Status Points.
Using one credit card for both personal and business expenses can make sorting out your accounts a headache for you or your accountant. By using a dedicated business credit card such as the Westpac Airpoints Business Mastercard you can keep your personal and business expenses separate and make expenditure reporting easier. Flexible payment options are available and you can give your accountant access to your transactions.
The Westpac Airpoints Business Mastercard comes with a range of benefits and is especially suited for frequent travellers. As well as earning Airpoints Dollars and Status Points, you get a discount on Koru membership and have access to overseas travel insurance.
|Product Name||Westpac Airpoints Business Mastercard|
|Balance Transfer Limit||95%|
|Purchase Rate||20.95% p.a.|
|Interest Free Period||Up to 44 days on purchases|
|Min credit limit||$500|
|Minimum Monthly Repayment||2% of transaction value or $5, whichever is greater|
|Late Payment Fee||$8|
|Complimentary Travel Insurance Cover||35 days|
Benefits of the Westpac Airpoints Business Mastercard
- Earn Airpoints Dollars. For every $85 you spend on your Westpac Airpoints Business Mastercard you earn 1 Airpoints Dollar. Airpoints Dollars can be redeemed for a range of rewards including flights, upgrades, travel insurance, Mitre 10 purchases, gifts and merchandise. You can also gift your Airpoints Dollars to friends or family, (subject to terms and conditions).
- Status Points. For every $225 you spend on your card, you earn 1 Status Points. Status Points allow you to move up the Airpoints membership tiers to receive exclusive Air New Zealand benefits, including upgrades and lounge access.
- Airpoints for Business. If you join the Airpoints for Business programme, you can earn additional Airpoints Dollars when you fly with Air New Zealand for work purposes or spend at participating business partners.
- Koru membership discount. The Westpac Airpoints Business Mastercard gives you a discount of $145 off a 12-month Koru membership.
- Overseas travel insurance. If you use your credit card to pay in advance for overseas travel, you can get travel insurance for trips of up to 35 days. Your family travelling with you may also be covered.
- Account fee waiver. If you also hold a personal Westpac Airpoints Platinum Mastercard, you don’t pay an annual fee for your Business Mastercard.
- Purchase protection. When you purchase business assets with your credit card, you have protection for damaged, lost or stolen goods for up to 90 days. You can also extend a manufacturer’s warranty by up to 12 months.
Features of the Westpac Airpoints Business Mastercard
- Interest rate. The interest rate for purchases is 20.95% p.a. An interest rate of 22.95% p.a. applies to cash advances.
- Annual account fee. The Westpac Airpoints Business Mastercard has an annual account fee of $145 each year. This is paid in 6-monthly instalments of $72.50.
- Joint/additional cards. You can request joint or additional cards for up to five people. Each has a yearly account fee of $25.
- Transfer your balance. If you successfully apply to transfer the outstanding balance of an existing credit card, from another bank, to your Westpac Airpoints Business Mastercard, you pay only 5.95% p.a. on the life of the balance.
- Mastercard privileges. As a Mastercard holder, you have access to entertainment, retail, travel, and dining offers and experiences worldwide.
- No international transaction fee. The usual $2 transaction fee is waived when you use a Global Alliance Group ATM.
- Flexible payment options. Pay your card off in full or 2% of the balance owing. Payments can be made in a branch, by phone, online or you can set up a bill payment, direct debit or automatic payment. You can also give your accountant access to your transaction data.
- Interest-free days. Get up to 44 days interest-free on purchases when you pay off your statement balance in full each month.
How to apply
To start your application, you can phone 0800 226 573, visit a branch or complete an application form online. You need to provide personal information, income details and your expenses.
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Have an income of at least $15,000 per year
Once you receive approval for your application, you need to verify your identity and income at a Westpac branch.
- Photo ID: A New Zealand driver’s licence or passport
- Proof of address: A recent utility bill, government letter or bank statement
- Proof of income: Westpac recommends that you have three months worth of bank statements
There may be cases where additional documentation is required. Westpac informs you of what you need during the application process.
The bottom line
Before applying for the Westpac Airpoints Business Mastercard, make sure you also compare other business cards so that you choose the right one for your situation. If earning Airpoints is crucial to you, be sure to check out the other Airpoints cards available. You need to be sure that the annual fee ($145) and additional charges are worth paying for the Airpoints Dollars you can earn. Remember that even if you have a business name on your credit card, you are still personally responsible for the credit that Westpac provides you.