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 Credit Card offers 1 Qantas Point for every $1 you spend on eligible purchases. This card comes with complimentary travel insurances which allows you to travel with peace of mind. It also offers up to 55 interest-free days when you pay your balance in full by the due date on each statement.
| Product Name | Bank Australia Platinum Rewards Visa Credit Card |
|---|---|
| Rewards Program | Qantas 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 Repayment | 2.5% of closing statement or $20, whichever is greater |
| Card Type | Visa |
| 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 Insurance | Yes |
| Available To Temporary Residents | No |
| Joint Application | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | No |
| 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 Repayment | 2.5% 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 Allowed | No |
| Additional Cardholder Fee | $59 p.a. |
| BPAY | Yes |
| Cheque | Yes |
| Direct Debit | Yes |
| Australia Post | Yes |
| Phone Banking | Yes |
| Internet Banking Transfers | Yes |
| Yes |
| Rewards Program | Qantas Frequent Flyer |
|---|---|
| Rewards Points per $ (VISA/MC) | 1 |
| Rewards Points per $ (VISA/MC) Cap | Uncapped |
| Rewards Points per $ (AMEX) Cap | N/A |
| Points Expiry | Never |
Bank Australia Platinum Rewards Visa Credit Card review
The Bank Australia Platinum Rewards Visa credit card is a frequent flyer product that offers a standard earn rate of 1 Qantas Point per $1 spent on everyday purchases and 2 points per $1 spent on selected Qantas products and services in Australia. It also offers complimentary Qantas Frequent Flyer membership if you're not already signed up to the program, and a suite of platinum perks including travel insurance and Visa Platinum offers.
In addition to these benefits, the Bank Australia Platinum Rewards Visa has a standard variable interest rate of 18.24% p.a. and an annual fee of $189.
Benefits of the Bank Australia Platinum Rewards Visa Credit Card
- Earn Qantas Points for your spending. When you make purchases on your card you'll earn 1 Qantas Point for every $1 spent. When you use your card for selected Qantas services and products, you'll earn 2 points per $1.
- 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, 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 at 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. Refer to the Allianz Global Assistance Travel Insurance Information Booklet available on the Bank Australia website for more information.
- Visa Platinum. Enjoy access to exclusive shopping, dining, entertainment and travel offers and experiences through the Visa Platinum website.
- Mobile payments. This card is compatible with both Apple Pay and Android Pay mobile applications, which allows you to use your phone to make purchases in-store and online.
- Online purchase security with Visa Checkout. This service allows you to 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.
Features of the Bank Australia Platinum Rewards Visa Credit Card
- Annual fee. This card has 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. This card has a standard variable rate of 18.24% p.a. for both purchases and cash advances.
- Interest-free days. If you pay your balance in full each statement period you can take advantage of 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 2% of each transaction made overseas or online in a foreign currency.
How to apply for the Bank Australia Platinum Rewards Visa Credit Card
You can apply for the Bank Australia Platinum Rewards Visa online in around 15-20 minutes. Before you get started, check that you meet the eligibility criteria and have the required documents to complete your application.
Eligibility criteria
- Age. You must be over the age of 18.
- Residency status. You must be an Australian citizen or a permanent resident of Australia.
- Credit history and income. You must have a regular income and you must not have been bankrupt.
Required information
If you meet the above criteria and are ready to apply, make sure you have the following information on hand:
- Personal information. This includes your full name, residential address, email address and contact number. 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 information. This includes your employer's name and contact details, and the length of time you've been there.
- Financial information. This includes your salary information, as well as any other income you have from shares, rental property or anywhere else. You'll also need to inform Bank Australia of your existing loan balances, repayment amounts, as well as your credit card or overdraft limits.
The Bank Australia Platinum Rewards Visa allows you to earn Qantas Points for your spending and offers complimentary travel insurance. The standard interest rate of 18.24% p.a. and annual fee of $189 are competitive for a frequent flyer credit card, it's important to compare a range of options so that you can find a card that suits all your needs.
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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.
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 comparison page here for gold, platinum and black credit cards and see which card suits you best.
Kind regards,
Liezl
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?
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?
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
Do I get any bonus points for signing up to this credit card?
Hi Kevin,
Thanks for your question.
Unfortunately, the Bank Australia Platinum Rewards Visa doesn’t come with bonus points.
For credit cards that offer bonus points, you may check this page.
Cheers,
Anndy
Do we earn points with BPay and ATO payments?
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
Are they any fees on international transactions?
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
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?
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
Can this card be put into credit?
Eg. $1000.00 credit limit, $500.00 payment making available funds $1500?
Thanks
Hi Ragail, thanks for your inquiry!
This credit card can be placed into a ‘credit’ status by depositing funds.
Cheers,
Jonathan
What is the minimum annual salary?
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
Does this card offer joint account holders (both card holders will receive FF points)?
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
If I use the Card to pay tax to the ATO will I earn points?
Hi Rick, thanks for your inquiry!
Please see the following link for earning rewards points paying tax.
Cheers,
Jonathan