Bank Australia Platinum Rewards Visa – Rates and fees

Information verified correct on December 9th, 2016

Earn Qantas Frequent Flyer points on everyday purchases, save with complimentary travel insurances and enjoy up to 55 interest-free days with the Bank Australia Platinum Rewards Visa.

Bank Australia's Platinum Rewards card could be a worthwhile way for you to earn Qantas Frequent Flyer points as you spend. You'll receive free membership to the Qantas Frequent Flyer program and can earn 1 Qantas Point for every $1 you spend. Travel with peace of mind thanks to complimentary travel insurances and avoid interest on purchases when you pay your balance in full to take advantage of up to 55 interest-free days. Compare the features and decide whether this card is right for you!

Product NameBank Australia Platinum Rewards Visa Credit Card
Rewards ProgramQantas Frequent Flyer
Purchase rate (p.a.)18.24% p.a.
Annual fee$189 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)18.24% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment2.5% of closing statement or $20, whichever is greater
Card TypeVisa
Late Payment Fee$0
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover0 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$189 p.a.
Minimum Repayment2.5% of closing statement or $20, whichever is greater
Late Payment Fee$0
Cash Advance Fee$5
Overseas Cash Advance Fee$3.50
Overseas Emergency Replacement$175
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$3.50
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$59 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
MailYes
Rewards ProgramQantas Frequent Flyer
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Bank Australia Platinum Rewards Visa Credit Card review

Bank Australia offers you a competitive card option with the Platinum Rewards Visa. The card comes with complimentary overseas travel insurance, the ability to earn up to 2 Qantas Frequent Flyer Points on eligible purchases, and offers the same rate for purchases and cash advances.

Benefits of the Bank Australia Platinum Rewards Visa Credit Card

  • Earn Qantas Points for every dollar you spend. When you make purchases on your card you'll earn 1 Qantas Point for every dollar spent. When you use your card for selected Qantas services and products, you'll earn 2 Points for each dollar you spend.
  • Complimentary Qantas Frequent Flyer membership. In order to earn Qantas Points, you'll need to be a member of the Qantas Frequent Flyer program. If you aren't already a member you can enjoy complimentary membership with Bank Australia, meaning a saving of $89.50. Additional cardholders are unable to apply for this feature.
  • Complimentary overseas travel insurance. Receive complimentary travel insurance with Allianz Australia Insurance Limited/ AGA Assistance Australia Pty Ltd. In order to be eligible, you'll need to be an Australian resident and purchase a least 50% of the amount payable for the overseas travel (including accommodation arrangements) with your Platinum Rewards card.
    You, your partner and your dependent children will be covered as long as they are travelling with you for the entire journey. You'll also have an access to up to $500,000 in Overseas Emergency Medical Assistance.

Features of the Bank Australia Platinum Rewards Visa Credit Card

  • Annual fee. You'll pay $189 every year to hold this card.
  • Additional cards. You're able to add additional cards to your account, giving you more opportunities to earn rewards. Keep in mind that each additional card carries an annual card fee of $59.
  • Purchase rate. When interest-free days are not applicable you will be charged interest at the rate of 18.24% p.a.
  • Cash advance fee. Cash advance transactions will attract interest at 18.24% p.a. with a fee of $5 per transaction.
  • Interest-free days. If you pay your balance in full each statement period you can take advantage of 55 days interest-free on purchases.
  • Competitive rate. You'll enjoy the same competitive rate for purchases and cash advances — you'll be charged 18.24% p.a. for both.
  • Visa benefits. As a Visa cardholder you'll have access to Visa Platinum entertainment offers, enjoy using your card at millions of locations across the world, plus you can make use of the 24/7 worldwide Visa Platinum concierge service.
  • Online purchase security with Visa Checkout. Pay securely online with partnered merchants by entering a single username and password. Your Visa Checkout account will contain your card payment details, shipping/ billing address for faster and safer checkout.

How to apply for the Bank Australia Platinum Rewards Visa Credit Card

If you're interested in applying for the Bank Australia Platinum Rewards Visa, check first if you meet the eligibility criteria outlined below, and that you have the required documents so you're ready to complete your application.

Eligibility criteria

In order to be approved, you need to:

  • Be over the age of 18
  • Have a good credit history

Required information

If you meet the above criteria and are ready to apply, make sure you have the following information on hand:

  • If you aren't an existing Bank Australia customer you'll need to verify your identity online using your driver's licence, a Medicare card or passport.
  • You'll need before and after-tax salary information, as well as any other income you have from shares, rental property or anywhere else.
  • Provide details about your place of employment.
  • Submit the approximate values of your assets including property, vehicles, savings, superannuation, etc.
  • You'll need to inform Bank Australia of your existing loan balances, repayment amounts, as well as your credit card or overdraft limits.
Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

14 Responses to Bank Australia Platinum Rewards Visa – Rates and fees

  1. Default Gravatar
    | November 23, 2016

    Do we earn points with BPay and ATO payments?

    • Staff
      May | November 23, 2016

      Hi RD,

      Thank you for your inquiry.

      Unfortunately, BPay and ATO payments are considered as “ineligible transactions,” so you won’t be able to earn points when you use your Bank Australia Platinum Rewards Visa card for these form of payments.

      Cheers,
      May

  2. Default Gravatar
    Adam | August 24, 2016

    Are they any fees on international transactions?

    • Staff
      Anndy | August 24, 2016

      Hi Adam,

      Thanks for your question.

      When you use your Bank Australia Platinum Rewards Visa overseas, you will attract the following fees:

      Foreign currency conversion fee – 2%
      Overseas cash advance fee – $3.50
      Overseas ATM Withdrawal Fee – $3.50

      You can check other related fees for the use of this card on the Fees & Repayments tab above.

      Cheers,
      Anndy

  3. Default Gravatar
    Ragail | November 10, 2015

    Can this card be put into credit?
    Eg. $1000.00 credit limit, $500.00 payment making available funds $1500?

    Thanks

    • Staff
      Jonathan | November 11, 2015

      Hi Ragail, thanks for your inquiry!

      This credit card can be placed into a ‘credit’ status by depositing funds.

      Cheers,

      Jonathan

  4. Default Gravatar
    Anna | November 7, 2015

    What is the minimum annual salary?

    • Staff
      Jonathan | November 9, 2015

      Hi Anna, thanks for your inquiry!

      There is no stated minimum annual salary/ income required for this credit card, as Bank Australia will also take other factors into account including assets and liabilities.

      Cheers,

      Jonathan

  5. Default Gravatar
    Nadia | October 7, 2015

    Does this card offer joint account holders (both card holders will receive FF points)?

    • Staff
      Sally | October 7, 2015

      Hi Nadia,

      Yes, Bank Australia Platinum Rewards Visa do accepts joint-account and both have access to the rewards points.
      For additional details regarding joint-accounts, you can check this page.

      I hope this helps.

      Cheers,

      Sally

  6. Default Gravatar
    Rick | April 1, 2015

    If I use the Card to pay tax to the ATO will I earn points?

  7. Default Gravatar
    Mick | March 16, 2015

    Hi
    Are there any caps on the Qantas points earned

    • Staff
      Jonathan | March 17, 2015

      Hi Mick, thanks for your inquiry!

      The points are uncapped on this card.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 9th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback