Westpac Airpoints Platinum Mastercard Review
Earn Airpoints Dollars and enjoy Platinum benefits.
The Westpac Airpoints Platinum Mastercard is worth considering for anyone that wants a higher credit limit, likes to travel and likes to be rewarded for spending. This card not only earns you Airpoints Dollars on eligible spend, but you also get Status Points for the Air New Zealand frequent flyer programme. You can enjoy lounge access and travel perks with a discount for Koru, and for each trip you take of up to 35 days you’ll have access to travel insurance cover.
|Product Name||Westpac Airpoints Platinum Mastercard|
|Balance Transfer Limit||95%|
|Purchase Rate||20.95% p.a.|
|Interest Free Period||Up to 44 days on purchases|
|Min credit limit||$10,000|
|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 Platinum Mastercard
- Earn Airpoints Dollars. For every $85 you spend on eligible purchases with your Westpac Airpoints Platinum Mastercard you earn 1 Airpoints Dollar. Airpoints Dollars can be redeemed for a variety of rewards including flights, upgrades, rental cars, travel insurance, gifts, merchandise and Mitre 10 products.
- Status Points. For every $225 you spend on your card, you receive 1 Status Point. As you earn more Status Points, you move through the Air New Zealand frequent flyer membership tiers. Each tier comes with different benefits such as lounge access, priority service, upgrades and extra luggage allowance.
- Koru membership. The Westpac Airpoints Platinum Mastercard gives you a $145 discount on the annual Koru programme membership rate plus the joining fee is waived. Koru membership provides a series of benefits including premium check-in, priority baggage and lounge access.
- Overseas travel insurance. Get overseas travel insurance for you and your family on trips of up to 35 days when you meet Westpac’s terms and conditions.
- Airpoints Dollars Advance. If you don’t have enough Airpoints Dollars for a reward, you can get an advance of up to 200 Airpoints Dollars.
- No expiry for Airpoints Dollars. As long as you are a current cardholder, your Airpoints Dollars never expire.
- Purchase protection. When you pay for goods using your Westpac Airpoints Platinum Mastercard, you receive 90 days of Purchase Protection Insurance if those items are lost, stolen or damaged. You can also extend the manufacturer’s warranty for 12 months with Extended Warranty Insurance.
Features of the Westpac Airpoints Platinum Mastercard
- Interest rate. An interest rate of 20.95% p.a. applies to purchases. Cash advances have an interest rate of 22.95% p.a.
- Account fee. This card has an annual account fee of $150 paid in two 6-monthly instalments.
- Minimum credit limit. The minimum credit limit you can apply for with the Westpac Airpoints Platinum Mastercard is $10,000.
- Joint and additional cards. You can request additional and joint cards with each costing $25 a year.
- Interest-free days. Get up to 44 days interest-free when you pay off your statement balance in full each month.
- No international transaction fee. The $2 transaction fee is waived when you use a Global ATM Alliance ATM overseas.
- Balance transfer. You can apply to transfer the balance from your existing credit card to your Westpac Airpoints Platinum Mastercard. If your application receives approval, you pay only 5.95% p.a until you pay off the balance.
- CardGuard. Westpac screens your credit card transactions for anything suspicious. If Westpac suspects fraud, it blocks your card and contacts you. If your card is lost or stolen, you are not held responsible for fraudulent transactions on your card, as long as you notify Westpac immediately, and you have complied with the card’s Conditions of Use.
- CashNav. Westpac CashNav lets you track your spending. It also arranges your spending in categories to see where your money goes and helps you understand your money habits.
- Mastercard PayPass. When shopping in-store, use your Westpac Airpoints Platinum Mastercard for contactless payments. No PIN is required for transactions under $200.
- Mastercard Priceless Cities. Mastercard holders have access to exclusive offers for travel, retail, dining and entertainment both at home and overseas.
How to apply
First, it’s worth comparing the Westpac Airpoints Platinum Mastercard against other Airpoints-earning credit cards to make sure you’re getting the best deal. If you decide that the Westpac Airpoints Platinum Mastercard is right for you; make sure that you meet the eligibility requirements and have the appropriate documentation. You can apply by visiting a Westpac branch during opening hours or fill in an application form online at a time that suits you. The online application takes 5-10 minutes to complete.
- Be 18 years or older
- Be a New Zealand citizen or permanent resident
- Be living in New Zealand
- Receive an income of at least $15,000 per year
Westpac needs to verify your income, identity, and proof of address if you are a new customer. When your credit card application is approved, you are asked to take the following documents into a branch:
- Valid photo ID: Your passport or driver’s licence
- Proof of address: A recent utility bill, government letter or store account statement
- Proof of income: Three months of bank statements
Westpac informs you of any other documents that are required.
The bottom line
If you are after a more substantial credit limit, at $10,000 a year, the Westpac Airpoints Platinum Mastercard may be for you. For every $85 of eligible spend, you earn 1 Airpoints Dollars and Status Points for the Air New Zealand frequent flyer programme. If you like to travel, you can enjoy lounge access and travel perks, and a discount for the Koru programme, plus for each trip of up to 35 days, you can access travel insurance cover. However, with an annual fee of $150, you need to make sure the benefits you obtain with the Westpac Airpoints Platinum Mastercard are worth paying the higher cost.