Bankwest reduces rate from 16 may

[akeno]

The representative whom i spoke to was pretty tight lipped on releasing any new information about this new card, but i've noticed a recent change in their 'complimentary credit card insurance booklet' which talks about a World MasterCard. So i suspect this new card would a premium type of MasterCard and preferably a premium colour as well. The only thing I wonder is whether the upgrade would be free.

 

[Pleb Status]

This will be a big issue for me if they cut existing customers back to 0.75pts/$. The no FX fee is a very good feature of this card and makes it worthwhile over my ANZ Black AMEX, as with the FX fee, you are effectively paying 6c/pt for the additional 0.5pts/$. The CBA strikes again I feel.

This card was the main reason I am still with Bankwest.

 

[rweir]

googling around their site also finds Media Release : Notice of Change to the "Bankwest complimentary credit card insurance" , which mentions changes affecting World Mastercard as of October 1 - perhaps there's a launch in the next couple of weeks...

edit: interestingly, World customers get a 12 month time limit on their travel insurance vs the 6 Platinum gets.

 

[wxxnxs]

Probably will be called either black or Diamond Qantas card.

 

[rweir]

heh, here's hoping for a World Mastercard Zero

 

[woodborer]

Probably will be called either black or Diamond Qantas card.

Based on what has been published so far, I'd be putting all my money on black

 

[WeeGraeme]

Is this new?

The total Qantas Points (including any Bonus Points) that can be earned in Each Year are: 50,000 Qantas Points if your Card is a Bankwest Qantas Classic MasterCard; 66,667 Qantas Points if your Card is a Bankwest Qantas Gold MasterCard; and 200,000 Qantas Points if your Card is a Bankwest Qantas Platinum MasterCard.

I looked at the Bankwest card last year but don't remember seeing that there was a cap on the number of points

 

[opusman]

Not new at least for the platinum card, it's always had a 200k cap.

 

[Pleb Status]

A new black or diamond card would be nice but all that will really result is I will be paying more than I used to and then receive the same points earn as I used to get. Is that a win?

 

[akeno]

The new card is called the Bankwest Qantas World MasterCard

Benefits of the Bankwest Qantas World MasterCard:

• For World MasterCard, the earn rate is 1 Qantas Point per A$1 of eligible purchases.
• Qantas Points Cap is unlimited for the World MasterCard.
• Access to World Concierge Services and World Privileged Access Program.
• Complimentary World Insurances such as:
• International Travel Insurance
• Purchase Security Insurance
• Extended Warranty Insurance
• Price Guarantee Insurance
• Interstate Flight Inconvenience Insurance
• Transit Accident Insurance

The upgrade is not complimentary and there is a standard annual fee.

 

[kpro]

The new card is called the Bankwest Qantas World MasterCard

Interesting.. When will it be released and what is the annual fee? Sounds like I'll be switching to the Citibank Signature card..

 

[Mr_Orange]

I wish they would release a bit more information about the new World Card. IMO, upgrade should be free for existing Platinum holders, since they have not only reduced the point earn but increased the annual fee to $160.

 

[akeno]

Interesting.. When will it be released and what is the annual fee? Sounds like I'll be switching to the Citibank Signature card..

I wish they would release a bit more information about the new World Card. IMO, upgrade should be free for existing Platinum holders, since they have not only reduced the point earn but increased the annual fee to $160.

They should make the upgrade free, but unfortunately I've been told the annual fee is likely to be $220.

 

[opusman]

So considering my last renewal was $99, a considerable jump. Disappointed, BW!

 

[Pleb Status]

The new card is called the Bankwest Qantas World MasterCard

Benefits of the Bankwest Qantas World MasterCard:

• For World MasterCard, the earn rate is 1 Qantas Point per A$1 of eligible purchases.
• Qantas Points Cap is unlimited for the World MasterCard.
• Access to World Concierge Services and World Privileged Access Program.
• Complimentary World Insurances such as:
• International Travel Insurance
• Purchase Security Insurance
• Extended Warranty Insurance
• Price Guarantee Insurance
• Interstate Flight Inconvenience Insurance
• Transit Accident Insurance

The upgrade is not complimentary and there is a standard annual fee.

As you appear to be in the 'inner circle', do you know if the FX surcharges will be waived on the World like the they are for the Platinum? This is the biggest selling point for me over other 1:1 earn MC/Visa cards (even the Citi Signature for free). I easily cover my current $99 annual fee with the FX savings (if you spend more than AUD3350 on FX in a year, which I can do in a single trip with flights, hotels etc).

 

[coles525]

Going to bankwest today, will ask about it!

 

[Mr_Orange]

Going to bankwest today, will ask about it!

Thanks coles525. I'll be interested to hear what they say.

 

[coles525]

Went to the store/branch to deposit cash. Also asked if they had any info on the new world cc.

Nothing advertised in store, in which staff member said they new as much as we know...

- Should be available in 7-14 days

- Said as long as you can afford $12k (I expect minimum limit!), when I asked what the rules were (ie: minimum wages).

Knew nothing more then us.

 

[Pleb Status]

Went to the store/branch to deposit cash. Also asked if they had any info on the new world cc.

Nothing advertised in store, in which staff member said they new as much as we know...

- Should be available in 7-14 days

- Said as long as you can afford $12k (I expect minimum limit!), when I asked what the rules were (ie: minimum wages).

Knew nothing more then us.

If the minimum is 12k, it will just be a product swap for me rather than a new credit application. Surprised the minimum is not 15k.

Overall, it looks like I will end up paying $121 more to get the same thing as I get now. That's good value. Not.

 

[Isochronous]

As long as they keep the free FX thing going, the 1:1 QFF will keep me using this card.