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$0 Annual Fee for Life on Westpac 55 Day & 55 Day Platinum Credit Cards - New Cardholders Only

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$0 Annual Fee for Life on Westpac 55 Day & 55 Day Platinum Credit Cards - New Cardholders Only
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tonester on 10/02/2014 - 23:23 westpac.com.au (4292 clicks)
Last edited 11/02/2014 - 01:24

Compared with the also free-for-life Citibank Platinum/Signature and Bankwest Zero Mastercard Gold/Platinum, Westpac Platinum provides complimentary insurances including coverage of up to

  • 4 months purchase cover (vs 3mths)
  • 2 years extended warranty (vs 1yr)
  • $5500 rental vehicle excess insurance in Australia (vs $2250 or none)

Switches, upgrades, customers accessing employee benefits or packaged cards (unless the package conditions state otherwise) are ineligible for this offer.

55 Day Credit Card
55 Day Platinum Credit Card
Westpac Credit Cards Complimentary Insurance Policy

don't forget to register at https://www.visaplatinum.com.au to receive offers such as https://www.ozbargain.com.au/node/131163

note that this offer was mentioned in https://www.ozbargain.com.au/node/131145 :)

Referral Links

Westpac Choice Account: random (114)

Referrer & Referee get $50 after referee makes 5 card purchases & deposits $500+. Maximum of 5 referrals allowed per customer: bonus is not paid to either parties if the referral code has been used more than 5 times.

Financial Credit Card

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closed Comments

    • dmiser on 11/02/2014 - 00:26
      +11

      I am with CBA and can confirm that they don't provide cover for rental vehicle excess.

        • eug on 11/02/2014 - 01:06
          +28

          Shame on ddaus for not being able to read jv's mind!

        • [Deactivated] on 11/02/2014 - 16:24
          +1

          well you need to say that

          we are not mind readers

          shakes head

    • lousy on 12/02/2014 - 16:33

      How do you get the cba platinum for free ?

  • edgar28 on 10/02/2014 - 23:30
    +16

    citibank has reward points…..

    • Risser on 11/02/2014 - 20:19

      I've tried twice now to get either of citibanks CC cards…. rejected both times. Even though I have a plat bankwest & normal NAB. They know I'm dropping the plat for this card…

      Any tricks to getting them to approve my app? :) I think I don't give them enough "disposable" income…

      • pcb7 on 11/02/2014 - 22:26

        Fax your Tax Report from the last taxation year plus your pay slips/group certificate.

      • jace88 on 12/02/2014 - 18:20

        Do they provide you with feedback on why you were rejected (assuming you definitely meet the minimum gross income requirements- or maybe you're just too conservative in calculating your monthly commitments/expenses).

  • Snoop on 10/02/2014 - 23:34
    +29

    It's always nice to see the banks looking after complete strangers better than those that have stuck with them over decades of incompetency!

    • BeefBiryani on 11/02/2014 - 00:12
      +1

      Luring more suckers!

    • spendinghacker on 11/02/2014 - 00:12
      +12

      It is not just the banks, it is EVERYONE!

      This is the new reality of the modern consumer world and the sooner we all acknowledge and adapt to it, the better.

      If you have a false sense of loyalty to a company or a service provider, you will never get the best deal.

      http://spendinghacker.com.au/loyalty-is-dead/

      • jv on 11/02/2014 - 00:17

        This is the new reality of the modern consumer

        Marketing theory has been around since the 19th century…

      • lostn on 11/02/2014 - 00:42
        +4

        If you have a false sense of loyalty to a company or a service provider, you will never get the best deal.

        I'll second that. If you've been a long time patron of a big company, you usually get offered a better deal when you tell them you're leaving. They will not give you any better offers in the meantime. They already own you, they don't need to do anything to keep you until they actually know you're leaving.

        It pays to just bluff them and tell them you're considering leaving, and ask for a little more to keep you with them.

      • lousy on 12/02/2014 - 16:34
        +1

        Same with employers

    • jv on 11/02/2014 - 00:15
      -2

      It's always nice to see the banks looking after complete strangers

      I've been a long time CBA customer. They offered me a fee free platinum mastercard if I switched over from a CBA gold visa…

      Not sure how it benefits them for me to switch, but it didn't cost me anything and I get more perks with the platinum card.

      • Shadowsfury on 11/02/2014 - 07:17
        +2

        The CC fees they earn on platinum cards are higher than regular ones.

        • tomclancy on 11/02/2014 - 08:48
          +1

          Is that true? I'd be very interested in this if so. Can you please provide some evidence/proof?

        • twodollah on 11/02/2014 - 09:01

          Yes, this is true. It is generally stated in the information booklets when merchants first sign up to use EFTPOS from a bank.

        • timetoquit on 11/02/2014 - 10:45
          +1

          VERY true and in simple terms this is why banks are throwing 'platinum' cards to every man/ women and dog. Platinum cards are the new 'gold' cards.
          Even the Citibank Signature card is calculated at a higher rate :)

        • jace88 on 11/02/2014 - 11:30

          Only thing which makes the Signature card remotely exclusive is the minimum income level but the benefits difference from the Platinum card is negligible. To this day I've never used any of the concierge-type services offered by Banks… but I've got a mate who swears by his black AMEX one (which is probably in a totally different league to me lol).

        • tonester on 11/02/2014 - 11:35
          +1

          benefits difference from the Platinum card is negligible.

          priority pass :)

        • Risser on 11/02/2014 - 20:17
          +1

          I also have a mate who has the black amex card, he's used the concierge service for working out flight itineraries. Sometimes it's cheaper, and when it is… it's the whole 9 yards! If not, they've done all the hard work :)

        • jace88 on 11/02/2014 - 21:06

          ^ I'll wait until I actually use it. There's no lounge in Sydney but I'll try to remember to carry the card with me when I'm travelling.

          (sorry, this was in response to Priority Pass)

        • pcb7 on 11/02/2014 - 22:27

          priority pass to airport lounge and Visa Signature exclusive hotel deals.

        • tonester on 12/02/2014 - 03:10

          To this day I've never used any of the concierge-type services offered by Banks

          https://www.ozbargain.com.au/node/131968#comment-1818463 :)

      • douglasac10 on 12/02/2014 - 02:05

        they are probably trying to get everyone onto Mastercards, CBA don't offer new customers Visas and haven't for a while now.

    • tsunamisurfer on 11/02/2014 - 00:49

      If Westpac did not find new customers, those remaining customers will have to bear the brunt of the fees or Westpac would eventually be bought out due to being not competitive.

      There is nothing wrong with finding new customers.

    • Tal_Shiar on 11/02/2014 - 02:02
      +4

      I'm more peeved at my health insurance, than my bank tbh

    • RocketSwitch on 11/02/2014 - 09:36
      +1

      Actually, my local Westpac branch called me up months ago to cancel my existing 55 Day credit card for this annual fee one.

      • BeefBiryani on 12/02/2014 - 15:18

        You're lucky you got a call from them. I opened an account with them more than six months ago and still have not received my ATM card. Funny thing is, I wrote them to close my account but they didn't, said I'd have to visit personally which I CBB about. So there lies an account in my name with Westpac with zero balance and they send me a statement every so often. I am happy with that as long as it doesn't cost me anything but I am not going Westpac way again, that's for sure.

        Oh and I called them a couple of times to ask about my ATM card which they said was on its way. Apparently they're more interested in people depositing money than taking it out.

  • tightarse on 10/02/2014 - 23:35

    $90 saving I believe, and it has great warranty and rental car excess coverage.

  • jason07 on 10/02/2014 - 23:38
    +1

    Good deal with the included insurance.

    FYI for those not keen on Westpac, I got essentially the same offer ($0 fee for life, 55 days interest free, 6 months 0% balance transfer) in the mail from HSBC today.

  • dmiser on 11/02/2014 - 00:26

    I am with CBA and can confirm that they don't provide cover for rental vehicle excess.

  • lostn on 11/02/2014 - 00:34

    2 years extended warranty (vs 1yr)

    How does this work? Who do you take your defective product to? Do you go back to the original merchant and say, I know it's beyond the product's warranty, but Westpac says I have an extra 2 years on it, fix it please?

    • jv on 11/02/2014 - 00:40

      Who do you take your defective product to?

      It will be stated in the product disclosure statements (PDS)

      • lostn on 11/02/2014 - 05:42
        -1

        Oh I just love reading those. Just like you.

    • AG_ACT on 11/02/2014 - 09:58
      +5

      Not really worht the paper it's written on; you pay the first $250 of each repair/ insurance claim

      • drongodave on 11/02/2014 - 11:02

        Wow - that does make it pretty pointless in most cases.
        I took advantage of the Citibank Signature card deal primarily for the insurance cover and was wondering whether that also has $250 excess. I had a look at the terms and conditions and as far as I could tell there's no equivalent excess.

      • Utopian on 11/02/2014 - 11:56

        The travel insurance isn't much better. Wording is EVERYTHING.

        • tonester on 11/02/2014 - 13:25

          credit card travel insurance is generally fine for most but ymmv so always read policies carefully :)

      • tlee17 on 11/02/2014 - 12:24

        Actually the extended warranty is OK, there is no excess.
        I just had a laptop go wrong out of warranty, after 2 years. It was uneconomical to repair, so Zurich refunded me the full purchase price. I only lost the $70 fee the repair agent charged to open it up, but I was pretty happy, laptops have a limited life of 2-3 yrs and I got a shiny new one

      • surm on 11/02/2014 - 17:14
        +1

        you pay the first $250 of each repair/ insurance claim

        +1 for pointing this out.

  • danielh on 11/02/2014 - 00:39
    -4

    Might want to add this as well, might be a big turn off for most people:

    http://www.westpac.com.au/personal-banking/credit-cards/low-…
    "Outside of this promotional period, annual fee waived in the first year (currently saving $90 a year) will apply as well as $0 annual fee in subsequent years - when you spend $20,000 or more on purchases in the previous year using your card."

    Basically only free if you spend $20,000 a year. It is not even linked to a rewards program AFAIK and there is no additional AmEx card (which is good for those AmEx deals we see a lot) to sweeten the pot for even ONE year of use.

    Regards
    Daniel

    • jv on 11/02/2014 - 00:42
      +3

      Outside of this promotional period

      that means that is the normal offer, if you don't take up this promotional offer…

      Regards
      jv

  • coolsteps on 11/02/2014 - 00:47
    +1

    no real incentive to sign up as theres no reward points. wish they let existing customers do product transfers to these card offers. note you can call up if you have a westpac credit card and ask for the 0.99% balance transfer deal after being transferred to a special dept. They told me this is the last time then i cant do it any more lol. does any one know if the bankwest zero platinum card provides cover for rental vehicle excess too?

    • tonester on 11/02/2014 - 00:53

      does any one know if the bankwest zero platinum card provides cover for rental vehicle excess too?

      only overseas $3k

      $5500 rental vehicle excess insurance in Australia (vs $2250 or none)

      • dmiser on 11/02/2014 - 02:22

        CBA does that - Only Overseas - too. I was aware of only ANZ Bank providing excess cover in Australia and now this one too.

        • tonester on 11/02/2014 - 13:39

          nab and citibank do also but not as much as anz or westpac :)

    • Max on 11/02/2014 - 00:54

      Yes, it does for overseas rentals. Up to $3,000:

      http://www.bankwest.com.au/personal/credit-cards/compare-cre…

    • dddp on 11/02/2014 - 17:56

      Weird how they're willing to cover you in a country where you don't know all the road rules and you might be driving on the wrong side of the road in a strange car but they won't cover you in your own country where you know the rules and drive on the same side of the road you normally do

  • [Deactivated] on 11/02/2014 - 01:33
    +2

    If you're an existing customer, ask about the promo, I've been told it was changed to allow existing customers to switch to this if asked as well.

    • coolsteps on 11/02/2014 - 01:45
      +1

      ok thanks ill try and give them a call again and try and switch the ignite card over to this one so i get the added benefit of the insurances. any sources that i can quote? on their website it still says "Switches, upgrades, customers accessing employee benefits or packaged cards (unless the package conditions state otherwise) are ineligible for this offer."

    • bluesky on 11/02/2014 - 10:23

      I just did a webchat with westpac, and was told in no uncertain terms that I can't upgrade. Even though I held a westpac credit card for ages. I told the personnel that I was intending to get a $0 platinum card from a promotion elsewhere, and close this one (Which is true). But this promotion comes along, and I prefer to stay. Makes no difference.

      • lucyr on 11/02/2014 - 10:43
        +2

        i've had a different westpac card for a while, and was just approved for this over the phone. Do you already have the platinum card but are paying the annual fee?

        • bluesky on 11/02/2014 - 12:03

          Perhaps that is it. I have the $0 fee ignite card (formerly virgin). And it is not a platinum card to start with. Although, I am sure I have not mentioned which card I currently have, and the webchat person already said no.

        • bluesky on 11/02/2014 - 12:23

          Thought I would ring and see, and once again, the person, from the start said that one can switch, but then no promotion applies. (I haven't mentioned what card I have). And pointed me to their promotion wording. Lucyr, if I may ask, did you call the number given at the offer page, or perhaps your own branch number?

        • lucyr on 11/02/2014 - 17:23

          i called the 1300 number on the page. I double checked that i will have $0 annual fee for life and the rep confirmed that to be the case. But having read your comment, now i'm worried she was mistaken…

        • bluesky on 11/02/2014 - 19:50

          If she had confirmed it for you, I think you will be safe :-) But wish they will be consistent, and not depend on the personnel you happen to get.

        • Miss Dior on 15/02/2014 - 14:09
          +1

          Provided you are not planning on transferring your balance to this new card, I suggest you consider applying for the card. Then after you get it you can close your old card. Agree that Westpac can be a right pain. Can even get better rates on term deposits at Commonwealth by walking in off the street compared to around 60 years of family loyalty to W'pac (or the Bank of NSW). The only reason the ignite card is so good is because Virgin started it. W'pac wouldn't have created it otherwise.

    • [Deactivated] on 14/02/2014 - 21:18
      +1

      I can confirm from Feb 3rd, this should also apply to existing cardholders.

  • hashtagbargain on 11/02/2014 - 02:36
    +1

    Are there any good offers out there right now for cards with 0% introductory purchase rate? Have a few big purchases coming up, would be keen on that!

  • DealzEddy123 on 11/02/2014 - 07:58

    for the life of the CARD. Does that mean once the card expires, annual fee kicks in?
    i.e. "life of the card" is different to "for life"?

    I like Bankwest Zero because it doesnt charge annual transaction fees

      • DealzEddy123 on 11/02/2014 - 13:57
        -2

        I was correct. Here the title of this post is misleading. It's for LIFE OF CARD, not "LIFE".
        So once the card expires, you have to have spent $20,000 in the year to maintain the $0.

        Taken from Westpac website:
        Outside of this promotional period, annual fee $90, waived in the first year, will apply as well as $0 annual fee in subsequent years- when you spend $20,000 or more on purchases in the previous year using your card

        • jv on 11/02/2014 - 14:03
          +4

          It's for LIFE OF CARD, not "LIFE".

          It's until you cancel your account

          Once the card expires, they automatically send you another one…

          Taken from Westpac website:

          Not sure why you posted that… That applies to people not taking this offer up during the promotional period.

  • atlas on 11/02/2014 - 09:09
    +2

    Could be handy to have for the extra year warranty but no points is a real turnoff.

    • lostn on 16/02/2014 - 21:40
      +1

      It's hard to find a rewards card with no annual fee unless it's part of a home loan package.

      And if it has an annual fee, you have to spend a LOT of money for the points to make up for the fee.

      Unless you're a massive spender, there's no point.

  • Unterberg on 11/02/2014 - 09:53
    +1

    How does the travel insurance compare against the others?

    • tonester on 11/02/2014 - 11:26

      similar as all by zurich :)

    • Utopian on 11/02/2014 - 12:09
      +1

      They're all average. Not suitable for Ozbargainers IMO. General wording (at least in the past) says you're covered to/from the destination, and/or a vast majority of the trip is paid on that card.

      Bah

  • AG_ACT on 11/02/2014 - 10:01
    +2

    I'm not sure how widely known the excess on the Westpac Cards is for Insurance/ Extended warranty etc.

    My opinion is that the $250 excess basically makes the extended warranty worthless for most items
    The insurance is okay I guess, but thankfully i've never had to use it.

  • Foma2 on 11/02/2014 - 10:20
    +1

    I will skip on this one as it has no rewards points.

  • OzBLover on 11/02/2014 - 10:38

    What the reward is like anyone know? I mean to refer to the point system?

  • coolsteps on 11/02/2014 - 11:16

    beware if you use your westpac visa/mastercard for overseas purchases you will soon be slugged with 3% fee amex 3.5% one of the highest i believe.

    • Utopian on 11/02/2014 - 12:16

      The mrs has a bankwest MC.
      I've got bankwest platinum MC.
      The difference is huge, looking at our statement from OS holiday at xmas. Platinum is sharp on everything, bad rate. Just pay in full. Hers got stung every way possible.

      • [Deactivated] on 11/02/2014 - 12:45

        Bankwest platinum rate is not too bad IMO.

        For example, I made recent transaction of 15889.50THB and it's processed on 03/02/2014.

        THB-AUD MC conversation rate on the day is 0.034532 according to:
        https://www.mastercard.com/global/currencyconversion/index.h…

        And I've charged $556.29, circa 1.38% extra.

        • Utopian on 13/02/2014 - 11:09

          Sorry, I was referring to interest rate. Hence mentioning to pay in full.

          The conversion rates on many/most premium cards are said to be wholesale MC/Visa rate.

        • sidesh0w on 23/02/2014 - 00:04

          nope, only Bankwest Platinum, 28 Degrees and Aussie Platinum.

    • PissLUR on 11/02/2014 - 12:55

      Are you referring to overseas purchases based on non-aud currency or overseas merchant?
      Currently, there is no extra fees if the merchant is overseas.
      when will this take into effect?

      • coolsteps on 15/02/2014 - 11:02

        both very soon some time in march i thik check the notes on your statement

    • [Deactivated] on 15/02/2014 - 13:04

      The only change there though is on the Amex. It's always been 3%, now Amex has gone up 0.5%

  • Popo on 11/02/2014 - 12:14

    Was looking for free travel insurance for pensioner but Min income $30k.

  • PissLUR on 11/02/2014 - 12:53

    No rewards.

    • lostn on 11/02/2014 - 13:55
      +1

      They're only good if you spend massive amounts on it. Otherwise the rewards are worth less than your annual fee.

      My Platinum rewards card now has points caps (7500 a month I think) making it completely pointless.

      • PissLUR on 11/02/2014 - 13:59

        Dont they move you to the Black?

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