If you have any questions about Bankwest credit cards, then you can take a look at this frequently asked questions article to get most of your answers. This is a selection of the questions Bankwest hears most frequently.
If you have been thinking about getting Bankwest credit cards, but have a few questions to ask, then here are some of the answers to the most popular questions.
FAQ - Bankwest credit cards:
Where can I get more information about the More Rewards program offered by Bankwest?
If you go to the website www.bankwestmorerewards.com.au you can read their frequently asked questions there.
When will the processing take place for a balance transfer application?
Once you have your credit card activated the processing on your balance transfer will begin. You will be contacted if there are any issues with the processing.
When can I expect my annual fee to rise?
Your annual fee will go up on the anniversary of first opening your card. It is done automatically, and there will be no refund or partial refund if you happen to close your account midway through the year.
What is the expiration date of my introductory balance transfer?
You will see a summary box at the bottom of your statement that shows you how many months you have left on this promotion. Once the number reaches one you need to make sure that you pay off your balance in full so that you don't get stuck once the interest rate rises.
Am I able to make an increase on my credit limit?
On a monthly basis your account will be assessed to see if you qualify for a limited increase. You will be contacted by one of the Bankwest credit cards customer service advisers if you are found eligible, and you will be informed of your new limit.
I already do my banking with Bankwest. Can I take advantage of an introductory balance transfer?
These advertised promotions for balance transfers are for new customers. If you do not have this product already you can apply for it, but your assessment will be based on you being a new customer. You will need to opt in for new offers if you are an existing cardholder with Bankwest because they do not send out these balance transfer promotions to existing customers.
How come the balance went over my limit?
There are times when Bankwest may decide to approve the transaction that is over your limit so that you can avoid the embarrassment of having a transaction refused. Bankwest will make this decision based on your risk as a customer and how well you manage your card account.
How is the interest calculated by Bankwest?
Your Schedule outlines the annual percentage rate used to calculate the interest on the unpaid balance that is averaged daily from your last statement. Any interest charged with be shown on your Bankwest credit cards statement in the following way:
- Debit interest purchase is charged on any of your credit card purchases.
- Debit interest cash is charged for making a cash advance. There is no interest-free period, and it is charged from the day the advance is made.
- Debit interest special is charged for purchases or balance transfers that have an introductory rate. If you have more than one introductory rate then you will see two or more entries.
Why do I have to pay a late fee?
A late fee is charged if you don't pay the minimum payment by the payment due date. The easiest way to avoid this charge is to set up a Direct Debit for either the minimum balance payment or for the full balance on the statement.
Can the date be changed for my statements to be sent out?
Yes that is no problem at all. You can get the date changed so that you are receiving your statement at a time suitable for you. Please note that this will also change your due date for payments.
Can a credit card be sent to a PO box address?
No, cards can only be sent to a residential address by Bankwest.
How often should payments be made?
It is mandatory to make a payment between your statement date and the due date for payments. Any payments that were made before the statement date are not counted as part of the minimum payment due.
How can I make the most of the 55 days free of interest for purchases?
You will need to pay off the balance on your statement in full by the due date for payments. If you don't, you will be charged interest for any balance that is outstanding from the date of the purchase.
What is the allocation of my payments?
The allocation of payments is interest first, followed by fees and then finally transactions. Payments will first be applied to any of these found on your most recent statement, and then to those applied since the date of your most recent statement. Payments will be allocated by Bankwest to any amounts with a lower interest rate first, and then to the ones with a higher interest rate in ascending order.
If I use my credit card for a cash advance what happens?
Interest will start accruing from the date when the advance was taken. You will be charged a fee according to how much money was withdrawn. If you want to stop any interest from accruing, you will have to obtain a payout figure.
You can apply for Bankwest credit cards directly online, or go to your favourite branch to fill out the forms. You can also get any further answers to your questions by contacting a Bankwest representative.