Bankwest More MasterCard Product Review

Bankwest’s new credit card is called the “More MasterCard” and it makes shopping more rewarding than ever. You can earn more rewards points than ever before if you time your purchases well. They have also teamed up with Qantas Airlines to make it possible for you to accumulate Frequent Flyer Points. Shop, fly and enjoy!

Key Features of the More MasterCard

When you apply for this card, here are some of the features you will find:

• New customers will gain 3 times the bonus points when they make eligible purchases within the first two months of owning the card. The offer expires 31 August 2011. 15,000 bonus points can also be earned. This is 3 times the usual amount of 5,000 points. And, even after the offer of triple bonus points expires, Bankwest still wants you to keep earning and will provide you with 1,666 bonus Qantas points for Frequent Flying.
• Each time you spend $1, you can earn 1.5 rewards points. You can also earn one Qantas point for Frequent Flying each time you spend $2 on certain eligible items.
• Enjoy a very low balance transfer rate of 5.99% for an amazing 12 months. If you have balances to transfer, this is the card to get. This offer is available to new customers to Bankwest only.
• If you want to earn points very quickly, you can do so by adding cardholders at no extra cost. You can have 3 more cardholders on your account absolutely free.
• You will receive the payPass card through MasterCard. This allows you to simply bypass queues at the shopping centre and Tap & Go.

Card Fees and Interest Rates

One of the great features of this card is low balance transfer rate. When you are approved for this card, you will have a low introductory rate of 5.99% that you will have for a whole year. If you have balances on other cards that are at a higher rate, here is your chance to transfer them over and save a bundle in the process. This rate begins the moment that you are approved for the card. The only caveat is that it is only available to new customers.

After the introductory rate of 5.99% has expired after one year, the rate will revert to the standard rate of 18.99% p.a.

The purchase rate is also quite reasonable at 18.99% p.a. and cash advances can be taken out at 21.99% p.a.

The annual fee for the card is only $89 and the Rewards programme opt-inn fee is just $30.

The other fees are as follows:

• Foreign transactions fees are charged at 2.95%.
• Cash advances carry a fee of 2% or $4.00 – whichever is greater.
• If you go over your limit, you will be charged $30.
• Late payments will incur a $35 fee.
• The dishonour fee is just $10.

Process to Apply

The application process is easy. You have several ways in which you can apply. You can go online to their website and apply directly from there. Or, you can call and apply over the phone. You can also apply through the post or going directly into one of the stores.

It only takes a few minutes and here is what you should have available. Be sure you have handy your work information, income details along with assets and savings. Also your contact information and date of birth, etc. should be available.

Once you have provided this information, you will have an answer very quickly!

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