Should I Switch to Westpac Altitude Black CC?

Associatedaaronaldo @ Westpac on 08/10/2020 - 10:19

I am a Westpac employee and I just noticed with my staff benefits, I get the following benefits if I apply for a Westpac Altitude Black CC:

  • No annual card fee ($250/year)
  • No Qantas rewards fee ($50/year)

However I do lose out on any bonus points offer available at sign up.

Currently I have a Citibank Premier card with no annual card fee.

My usage:

  • Always pay on time, so interest rate doesn't mean much to me.
  • I don't really travel overseas (even before COVID) so I generally exchange reward points to giftcards.

From doing my own comparison, both Citibank and Westpac cards appear to offer similar benefits. I'm not savvy enough to work out if points are better value over at Westpac vs Citibank. Also, would Altitude points be better than Qantas points if I don't travel?

Poll Options

  • 1
    Stick with Citibank Premier card
  • 5
    Switch to Westpac Altitude Rewards Card
  • 2
    Switch to Westpac Altitude Qantas Rewards Card
  • 2
    There's an even better card!
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Comments

  • verio on 08/10/2020 - 10:25
    +1

    If your end goal as to accumulate as many points as possible, then it will be better for you to stay with your current credit card and wait for a new sign up offer with a different credit card. Signups usually are better, they provide lots of points and you end up having a card for one year anyway (still earning points for purchases).

    If you switch now, you limit your ability to get a new card in the near future should there be one with a sign up bonus (assuming that you are regular person with a regular credit rating who does not want multiple credit card applications in a short period of time).

  • conan2000 on 08/10/2020 - 10:29
    +1

    I usually check how much it costs me to buy a $100 voucher to work out which card is most beneficial from a points perspective, and then pick based on that. It's also worth looking at included insurances etc as well. E.g. I have a Coles rewards card which currently gives me a better earn rate than my Citibank Signature card based on value to buy a voucher. However, I uses the Citibank for any purchases where I care about warranty, as it has an extended warranty insurance. You also get Citibank dining offers etc. I got the Citibank Signature when it was a free for life sign-up, so I'll probably never get rid of it.

    If you are on a similar deal I'd keep the Citibank regardless, and get the Westpac one as well if there are any other benefits, seeing as there is no downside (unless you are planning to apply for loans in the near future).

    • Associatedaaronaldo @ Westpac on 08/10/2020 - 11:36
      +1

      Yeah, I agree. Citibank's benefits for me over Westpac is the free wine programme.

      Westpac has better insurance though, and it has Google Pay.

      I think I might end up having both.

      • hashtagbargain on 08/10/2020 - 11:38

        Yeah whats the harm in having both, was thinking that. There's no cost to you anyway.

  • DannyC on 08/10/2020 - 10:32

    Best to stick with your current card if both cards have similar in benefits. If a sign up bonus is on offer later down the track and offers something better than your current Citibank card then maybe consider the switch. Though I wouldn't get it just for the sake of getting it if you don't need it.

  • whooah1979 on 08/10/2020 - 12:07

    Sorry. I can’t support a bank that has been fined for money laundering.

  • tio on 08/10/2020 - 12:11

    If you're happy with paying fee to get sign up bonus, why not sign up now, get the points, pay the fees, cancel, then apply again through your work benefit.

    IMO, fee free sign up bonus pops up all the time, so I'd rather not paying any fee.

  • p-plater on 10/10/2020 - 14:34

    personally, if possible given credit check situation, have the WBC black as an ongoing earning cc (since black has the highest pt per $ and you're not paying any annual fee), then latch onto high bonus point sign up cards periodically (if wanting to churn) when deals come available.

    But obviously case by case depending on what you are trying to achieve and what you are able to apply for (whether you will get approved for 2 CCs - would recommend NOT to apply at the same time).

    Given travel doesn't really appeal to you, worth looking at the OzB discussions on the best bang for the buck gift card conversion CCs as benefits such as travel insurance/flight redemption will do you no good.

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