Westpac hotpoints Platinum Mastercard

The basics

• Additional cardholders. It's $70 p.a. to add additional cardholders. Payment will be taken in two instalments of $35.
• Digital wallets. Westpac supports Google Pay and Apple Pay but no other digital wallets.
• Gambling transactions. Westpac allows gambling transactions and treats them like cash advances, applying interest immediately.

Rewards and benefits

• Complimentary travel insurance. Get up to 35 days of overseas travel insurance per round trip, with no limit on how many trips can be taken annually. Terms and conditions apply.
• Concierge services. This card has a concierge service available via Mastercard Travel and Lifestyle Services, giving cardholders access to various travel, dining, and entertainment experiences, perks, and privileges.
• Insurances. This card comes with an extended warranty (up to 12 months for goods purchased using the card) and purchase protection insurance (up to 90 days) against loss, theft, and accidental damage.
• Rewards points. Earn 1.75 hotpoints per $1 spent up to $7,000. Any eligible spending over this threshold earns 1 hotpoint per $1 spent. You may redeem hotpoints anywhere where Mastercard is accepted. Balance transfers, cash advances, and cash equivalent transactions do not earn hotpoints.
• Sign up bonus. There is no sign up bonus offer for new customers.

Rates and fees

• Annual fee. Westpac charges an annual fee of $70 p.a. with payment taken in two instalments of $35 every six months. This is comparable with other platinum-level rewards cards.
• Balance transfers. Transfer debt from non-Westpac credit and store cards at 5.95% p.a. for life. There is no balance transfer fee. Since it's an ongoing rate with no introductory period, this offer could significantly reduce monthly interest repayments, especially if you have substantial debt at a high rate on an existing card.
• Cash advances. Cash advances will be charged interest at 22.95% p.a. Interest begins to accrue immediately from the transaction date. There is no cash advance fee, which is better than what many cards charge. The rate on cash advances is similar to what most rewards cards charge.
• Foreign exchange fee. This card charges a 1.95% fee for purchases and advances made in a foreign currency, either overseas in person or online. A few cards have lower rates.
• Interest-free period. You can take advantage of up to 55 days interest-free on purchases (excluding cash advances) when you have paid your previous balance in full or made the minimum required payment.
• Purchases. Cardholders will get an ongoing rate of 20.95% p.a. for purchases made with the card. This rate is around average for a card like this.