Bank Australia Platinum Rewards Visa credit card review | Finder
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Bank Australia Platinum Rewards Visa card

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Sally McMullen
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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.

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 NameBank Australia Platinum Rewards Visa Credit Card
Rewards programQantas Frequent Flyer
Purchase rate18.24% p.a.
Annual fee$189
Interest-free periodUp to 55 days on purchases
Cash advance rate18.24% p.a.
Min credit limit$1,000
Card typeVisa
Foreign currency conversion fee3%
Available to temporary residentsNo
Joint applicationNo

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 programQantas Frequent Flyer
Bonus pointsN/A
Rewards points per $ spent0.75
Rewards points cap20,000
Annual fee$189
Minimum monthly repayment2.5% of the closing balance or $20, whichever is greater
Late payment fee$0
Foreign currency conversion fee3%
Cash advance fee$5
Overseas cash advance fee$5
Overseas ATM withdrawal fee$3.50
Additional cardholder fee$59

Expert review

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Review by

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.

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.

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.

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.

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23 Comments

    Default Gravatar
    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.

    Reply
      Default Gravatar
      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

      Reply
    Default Gravatar
    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?

    Reply
    Default Gravatar
    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?

    Reply
      Avatarfinder 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

      Reply
    Default Gravatar
    Kevin
    March 2, 2017

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

    Reply
      Avatarfinder 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

      Reply
    Default Gravatar
    RD
    November 23, 2016

    Do we earn points with BPay and ATO payments?

    Reply
      Avatarfinder 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

      Reply
    Default Gravatar
    Adam
    August 24, 2016

    Are they any fees on international transactions?

    Reply
      Avatarfinder Customer Care
      Dee
      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

      Reply
      Default Gravatar
      Kristin
      April 3, 2017

      So if you use the card to purchase something say through Paypal over the internet, so you are in Australia, but the item is say from China, and the amount is converted by Paypal and taken from your credit card, is there a foreign transaction fee?

      Reply
      Avatarfinder Customer Care
      Harold
      April 5, 2017

      Hi Kristin,

      Thank you for your inquiry.

      Typically, the details that have mentioned by Anndy are the standard overseas fees. However, if you will use a third party like Paypal you would need to contact your provider directly to check your options and the fees included.

      I hope this information has helped.

      Cheers,
      Harold

      Reply
    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

    Reply
      Avatarfinder Customer Care
      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

      Reply
    Default Gravatar
    Anna
    November 7, 2015

    What is the minimum annual salary?

    Reply
      Avatarfinder Customer Care
      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

      Reply
    Default Gravatar
    Nadia
    October 7, 2015

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

    Reply
      Avatarfinder Customer Care
      Sally
      October 7, 2015

      Hi Nadia,

      Thanks for the question.

      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 our guide on banks that allows joint accounts and their conditions. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this helps.

      Cheers,
      Sally

      Reply
    Default Gravatar
    Rick
    April 1, 2015

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

    Reply
      Avatarfinder Customer Care
      Jonathan
      April 1, 2015

      Hi Rick,

      Thanks for your inquiry.

      Payments to the ATO are considered as “ineligible transactions,” so you won’t be able to earn points when using the Bank Australia Platinum Rewards Visa card. You may refer to our guide on credit cards that earns rewards points and allow payments to the ATO.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      Cheers,
      Jonathan

      Reply
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