American Express Westpac Altitude Platinum Bundle – Velocity

Last updated: Sep 9, 2020

No longer offered in the market

The American Express Westpac Altitude Platinum Velocity card bundle is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested.

You can compare the current range of Westpac credit cards here.

60,000

Bonus points

20.49% p.a.

Purchase rate

American Express: 20.24% p.a.
Mastercard: 20.49% p.a.

Up to 1

Reward points per $

American Express: 1
Mastercard: 0.5

$249 p.a.

Annual fee

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Details

Product Name	American Express Westpac Altitude Platinum Bundle - Velocity - DISCONTINUED
Rewards program	Velocity Frequent Flyer
Purchase rate	20.24% p.a. (AMEX) 20.49% p.a. (Visa/MC)
Annual fee	$249
Interest-free period	45 days
Cash advance rate	21.49% p.a.
Min credit limit	$9,000
Card type	Mastercard,American Express
Foreign currency conversion fee	3%

Minimum income	$50,000
Available to temporary residents	No
Joint application	No

Pros

60,000 bonus Velocity Points when you spend on the Mastercard within the first days
2 complimentary Economy X Seat Upgrade Vouchers each year
Complimentary retail and travel insurance covers

Cons

Mastercard earn rate of 0.5 points per $1 spent is low
Interest-free period of only up to 45 days on purchases as compared to other cards that offer up to 55 days interest-free
Combined annual fee of $249 is high, even compared to other platinum card offerings

Rewards program	Velocity Frequent Flyer
Bonus points	60,000
Rewards points per $ spent	0.5
Rewards points per $ spent	1

Annual fee	$249
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50 , whichever is greater
Additional cardholder fee	$0

Sally McMullen

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

How to apply

You can apply online in about 10 minutes and will receive a response in 60 seconds. For this two-card bundle, you submit only one application to Westpac and then your information is passed on to American Express. Before you apply, make sure you meet the eligibility requirements and have the necessary documents on hand:

If you're an existing Westpac Altitude Platinum or Black card customer, you can apply for the American Express card if you've been invited to via Online Banking, email or post. If you were invited, you should've received a promotional code which you can use to apply. If you don't have the card, you can only apply for the American Express when you also apply for the Mastercard.

Eligibility criteria

New customer. To be eligible for the bonus points offer, you cannot hold or have held a Westpac rewards card in the previous 12 months.
Residency. This card is available to permanent Australian residents.

Age. You must be at least 18 years of age to apply.

Required documents

Personal details. This includes your name, email address, living arrangements and a valid form of ID, such as your driver's licence number, Medicare card number or passport details.
Employment details. This covers your current employment status, job title, salary and your employer's contact details. You may also need to provide supporting documentation such as recent payslips, bank statements or tax assessment notices.
Financial details. This includes any other forms of income such as pensions or government payments, as well as savings and investments. You'll also need to share details of your existing debts and financial responsibilities, including an estimate of your living costs such as rent/mortgage payments, bills and groceries.
Frequent flyer membership details. You'll be given the choice of earning points through the Altitude Rewards program, Altitude Velocity, or Altitude Qantas. If you're an existing member of Velocity Frequent Flyer, you will be prompted to enter your membership number when you choose this option.

Card benefits

Bonus points. When you apply by 05 August 2020 and spend $3,000 on eligible purchases in the first 90 days of approval with your Mastercard, you'll get 60,000 bonus Velocity points. Bonus points will be credited to your account within 12 weeks of meeting the spend requirement.
Standard earn rates. When you spend with the Mastercard, you'll earn 0.5 Velocity Points per $1 spent. On the American Express, you'll earn 1.5 Velocity Points per $1 spent in a foreign currency, 1 Velocity Point per $1 spent in Australia as well as 0.5 Velocity Points per $1 spent on government transactions. You can redeem your points for flights with Virgin Australia and partnered airlines, accommodation, products from the Velocity Store and more.

Complimentary insurances. You get a wide range of insurance covers with your platinum credit cards. You can benefit from overseas travel insurance that includes medical expenses, lost or damaged property, personal liability, and more. You'll also be covered by transit accident insurance, purchase security insurance and extended warranty coverage.
Economy X Seat Upgrade vouchers every year. When you add your membership number to your account and make a direct spend with Virgin Australia on your card, you will receive 2 vouchers for Economy X Seat Upgrades for eligible domestic flights to use for yourself and/or other passengers travelling on the same itinerary. The vouchers will be added to your account within 10 days of meeting the spend requirement and can be redeemed by calling 1300 038 373 at least 24 hours prior to your flight.
Access to Amex Offers and Amex Experiences. Thanks to your American Express card, you'll get access to exclusive discounts, dining perks with participating restaurants, pre-sale access to concert and events, passes to Amex Experiences lounges at specific venues.
Mobile wallets. Whether you have an Android or Samsung device, you can save time at the cash register and pay with the convenience of your smartphone with Google Pay or Samsung Pay using your Westpac Altitude Platinum Mastercard. You can also use your fitness tracker to make contactless payments with Fitbit Pay and Garmin Pay. The American Express card is compatible with Apple Pay as well, but does not offer payments through fitness trackers.

Rates & fees

Annual fee. This bundle charges a combined standard annual fee of $249. It breaks down to a $150 annual fee for the Mastercard, $49 for the American Express and a $50 Velocity rewards fee.
Purchase interest rate. The Mastercard charges a variable purchase interest rate of 20.24% p.a. and the American Express charges 20.49% p.a.

Interest-free days. When you pay your monthly payment balance in full, which excludes current balance transfers, listed on your statement by the payment due date, you will receive up to 45 days interest-free on new purchases. Note that interest-free days are separate from any longer-term interest rate promotions.
Cash advance interest rate. If you use the Mastercard to make a cash advance (such as an ATM withdrawal), you'll be charged 21.49% p.a. You can't use the American Express to make cash advances.
Foreign transaction fee. If you use either of these cards overseas or to shop online with an international merchant, you'll be charged a foreign currency fee worth 3% of the transaction amount.
Additional card fee. You can request an additional cardholder for $0.

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American Express Westpac Altitude Platinum Bundle – Velocity