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Bank Australia Platinum Rewards Visa card

Earn Qantas Points as you spend, save with complimentary travel insurances and enjoy up to 55 interest-free days with the Bank Australia Platinum Rewards Visa.

The Bank Australia Platinum Rewards Visa rewards your spending with 0.75 Qantas Points per $1 you spend on eligible purchases. You can also travel safely and save with complimentary international travel insurance. When you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases.

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Sally McMullen

Last Updated Aug 28, 2020

18.24% p.a.

Purchase rate

0.75

Reward points

Per $ spent

$189 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	Bank Australia Platinum Rewards Visa Credit Card
Rewards program	Qantas Frequent Flyer
Purchase rate	18.24% p.a.
Annual fee	$189
Interest-free period	Up to 55 days on purchases
Cash advance rate	18.24% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	No
Joint application	No

Pros

Up to 1.75 Qantas Points per $1 spent
Comes with complimentary overseas travel insurance and access to Visa Platinum entertainment offers
Compatibility with Apple Pay, Google Pay and Samsung Pay

Cons

Does not offer any sign-up bonus points, compared to other frequent flyer cards that reward more Qantas Points

Rewards program	Qantas Frequent Flyer
Bonus points	N/A
Rewards points per $ spent	0.75
Rewards points cap	20,000

Annual fee	$189
Minimum monthly repayment	2.5% of the closing balance or $20, whichever is greater
Late payment fee	$0
Foreign currency conversion fee	3%
Cash advance fee	$5
Overseas cash advance fee	$5
Overseas ATM withdrawal fee	$3.50
Additional cardholder fee	$59

Review by

Sally McMullen

sally.mcmullen@finder.com.au

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.

Expert review

The Bank Australia Platinum Rewards Visa card offers a modest earn rate that can help you build your frequent flyer points balance. There are some frequent flyer cards that reward more Qantas Points per $1, though. If you want to earn more Qantas Points, you could also compare frequent flyer cards that reward new customers with thousands of bonus frequent flyer points on sign up.

You can get extra value from the card by making use of the complimentary travel insurance on your next overseas trip. This card is also better suited to cardholders who pay their balance in full each month to take advantage of interest-free days on purchases.

How to apply

You can apply for the Bank Australia Platinum Rewards Visa credit card online, but you should check if you meet the eligibility criteria and have the necessary information to complete the application before you get started.

Eligibility criteria

Income. You must receive a regular income.
Residency. This card is available to Australian citizens or permanent residents.

Credit history. You'll only receive approval if you've maintained a good credit history for the past 5 years.
Age. You must be at least 18 years old to apply.

Required documents

Personal information. This includes your full name, residential address, email address and a contact number.
Proof of identification. If you aren't an existing Bank Australia customer, you'll also need to verify your identity online using your driver's licence, a Medicare card or passport.
Employment. You'll be asked to confirm your employer's name and contact details, as well as how long you've been working there.
Finances. You'll need to confirm your gross income (before tax) and net salary (after tax) as well as any other forms of income you have (such as shares or a rental property). You'll also need to list the approximate values of your assets (such as property, vehicles, savings and superannuation) and existing liabilities (including loan balances, repayment amounts as well as credit card or overdraft limits).

Card benefits

Earn Qantas Points. You'll earn 0.75 Qantas Points for every $1 spent on eligible purchases with your card. When you use your card for selected Qantas services and products, you'll earn an additional 1 point per $1 spent. Qantas Points are capped at 20,000 per month.
Complimentary Qantas Frequent Flyer membership. If you aren't already a member of the Qantas Frequent Flyer program, you can enjoy complimentary membership with Bank Australia and save $99.50. This perk doesn't apply to additional cardholders.

Complimentary overseas travel insurance. You can travel with peace of mind thanks to complimentary international travel insurance. You must use your card to purchase at least 50% of the amount payable for the overseas travel (including accommodation arrangements). You, your partner and your dependent children will be covered as long as they are travelling with you for the entire journey. Eligibility requirements, terms and conditions and exclusions apply. Refer to the Allianz Global Assistance Travel Insurance Information Booklet available on the Bank Australia website for more information.
Visa perks. Enjoy access to exclusive shopping, dining, entertainment and travel discounts and experiences through Visa Offers and Perks.
Mobile payments. This card is compatible with Apple Pay, Google Pay and Samsung Pay mobile applications, so you can use your phone to make purchases in-store and online.
Visa Checkout. You can shop online securely with partnered merchants by entering a single username and password. Your Visa Checkout account will contain your card payment details, shipping or billing address for faster and safer checkout.

Rates & fees

Annual fee. This card charges an annual fee of $189.
Additional cards. You can request an additional cardholder be added to your account for a fee of $59 per year.

Interest rate. Your purchases and cash advances will attract a 18.24% p.a. interest rate.
Interest-free days. If you pay your balance in full each statement period, you can take advantage of up to 55 days interest-free on purchases.
Cash advance fee. If you use your card to get money out at an ATM or for any other cash advance transaction, a fee of $5 per transaction will apply.
Currency conversion fee. This card charges a fee worth 3% of each transaction made overseas or online in a foreign currency.

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23 Comments

David
July 14, 2017

Further to my query below, I have just noticed that you need to spend 50% of holiday cost to activate overseas travel insurance, which is significant for me. ANZ Black only requires a $200 spend.

Liezl
July 15, 2017

Hi David,

Thanks for your question.

Black cards often have higher upfront and potential costs than regular options since these cards offer a range of exclusive features, which are often customised to suit the individual cardholder. The fees charged by different credit cards often commensurate the perks and prestige you get from them. Between Black and Platinum credit cards, there will be differences in their features and benefits. An example of which is the travel cost required to activate complimentary travel insurance, as you have pointed out.

Depending on how you use the card, all the features and benefits that come with it may justify the costs it attracts. You may check our platinum and gold credit cards and see which card suits you best.

I hope this helps.

Kind regards,
Liezl

David
July 14, 2017

I am currently paying 2 x $55 Rewards Programme Service Fee (for myself and my wife) on top of my annual fee for an ANZ Black Credit Card (which is at a reduced annual fee of $240). Is this standard practice? The Bank Australia Qantas Platinum Rewards Visa looks competitive and I am thinking of moving across. Any thoughts?

russell
May 19, 2017

I have 2 questions.

1/ How many additional cards can I have attached to the primary card?

2/ Is the current offer of F/F points changing as of July 1 2017?

finder Customer Care

Dee
May 19, 2017

Hi Russell,

Thanks for your questions.

The number of additional cardholders that you can have for this account is unlimited. However, each additional card holder will have an additional fee of $59 per year.

There is no stated end date for the Qantas points offer but on the terms and conditions of this card, it says, it may be withdrawn at any time.

Cheers,
Anndy

Kevin
March 2, 2017

Do I get any bonus points for signing up to this credit card?

finder Customer Care

Dee
March 2, 2017

Hi Kevin,

Thanks for your question.

Unfortunately, the Bank Australia Platinum Rewards Visa doesn’t come with bonus points.

If this interests you, please check the list of credit cards that offer bonus points featured on our website.

Cheers,
Anndy

RD
November 23, 2016

Do we earn points with BPay and ATO payments?

finder Customer Care

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

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