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I believe the fees to be quite high, especially for loyal long-term customers with a great credit rating.
I think the Interest rate is too high, and obscene for any cash advances given current interest rates.
Loyal long-term customers should be considered for better interest rates on the odd occasion they may be charged for not paying on time.
Our household uses our credit card quite a lot, between $3200 to $4500 each month. With the card we are able to earn reward points very fast, especially whenever you use the AmEx card and get the double points.
The only downside is that not all merchants accept AmEx, and if some do, they charge a surcharge fee ranging from 2% to 4%. Thus it limits our usage and we have to use our MasterCard instead.
I channel all my spending through this card and pay it off in time to avoid interest.
The annual fee is more than covered by the rewards I receive.
The bank has resolved fraud issues very well in the past and I appreciate the extra benefits like travel insurance cover when I pay for travel with the card.
This credit card makes everything easy, especially when travelling overseas. The conversion rate is also undated every day making it more accurate. The interest rates are pretty reasonable and you get flybys points. The best part about the points is that you can contribute them straight to Super, which is what we do.
I have had this card for years and never had a problem. I pay it off in full every month so that interest never accrues. It is accepted everywhere and often I can use the American Express version of the card, which then gives me more frequent flyer points.
The only point I don’t like is that Westpac puts a cap on how many points you can earn. We use this credit card for everything, so it could potentially earn a lot more points.
I’ve used this card for years. The annual fee was waived for some reason (I probably complained about something and they waived it) so it’s great value for me with the extra points on the AmEx. Rewards are OK. I don’t claim anything too often though, as there isn’t anything that is really great value.
The rewards are great. Having the Visa and AmEx combo is another nice feature, but I don’t like the annual fee and slightly higher interest rates.
I signed up for this card when j had a home loan package so the annual fee was waived, but I no longer have a home loan so have to pay.
Very useful & flexible card, internationally trusted & accepted. I have had my Westpac MasterCard for 7 years & have not found any other card with features that would persuade me away from my current Westpac card. My one reservation is the annual fee charge which is on the high side. However, the free travel insurance bonus is very attractive given the amount of travelling that I do.
The one overlimit fee I was charged was more than the amount I was over limit. My other accounts would have covered it so disappointed not contacted. Accepted worldwide which is wonderful for travelling. Have learnt to ensure a good balance on card before travelling though. Having just one card for debit and a credit is very useful.
This is a very handy card for travel insurance. It has a better than average rewards program too. We use our credit cards for over eighty per cent of our purchases.
The telephone Westpac staff are very efficient and extremely helpful. Our cards were recently used by fraudsters, and the expediency with which our cards were replaced was exceptional. The incurred fraud charges were reimbursed within two business days.
|Cash advances||1.73%||20.74% p.a.|
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years. Note that this benefit does not apply if cardholder chooses Altitude Rewards rather than Qantas Frequent Flyer points.
|Total estimated value||$1,059|
|Net customer value||$909|