WAW MyCard Platinum Rewards Mastercard Review

Earn points for every dollar you spend and receive complimentary insurance with the WAW MyCard Platinum Rewards Mastercard.

No longer offered in the market

The WAW Platinum Mastercard is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested. You can compare the current range of platinum credit cards here.

The WAW Rewards Platinum Mastercard is a mid-range platinum rewards credit card linked to Citigroup's Card Services Rewards Program. This card gives you 1 point per dollar spent, a comprehensive insurance package that includes travel insurance, and a long-term interest free balance transfer offer.

Benefits of the WAW MyCard Platinum Rewards Mastercard

  • Balance transfer rate. Transfer a balance when you apply and pay 0% p.a. for the first 14 months. Offer ends 31 January 2019.
  • Interest free days. Pay your account in full by the statement period and get up to 55 days interest free on purchases you make with the WAW MyCard Platinum Rewards Mastercard.
  • Free extra cards. You can add up to 4 additional cardholders to your Platinum Rewards account for no extra charge. Additional cardholders share the same credit limit as the primary cardholder. Each additional card has a different card number so you can identify where charges to the account are coming from.
  • Platinum concierge. A platinum concierge service is available at any time of the day or week, from anywhere in the world.
  • Comprehensive complimentary insurance package. Get automatically covered by insurance policies such as travel and purchases when you meet the activation requirements.

Features of the WAW MyCard Platinum Rewards Mastercard

  • Annual fee. The WAW MyCard Platinum Rewards Mastercard has a discounted annual fee of $99 for the first year, $129 p.a. thereafter.
  • Purchase rate. The purchase rate is 20.24% p.a. (variable).
  • Card Services Rewards. Get 1 Card Services Rewards Point per dollar spent on eligible purchases. Eligible purchases exclude balance transfers and cash advance transactions. Card Services Rewards Points can be redeemed for homewares, technology, fitness and outdoor gear and travel rewards.
  • Travel insurance. Purchase your overseas travel ticket using your WAW MyCard Platinum Rewards Mastercard and you're covered for the following:
    • Hospital and medical expenses
    • Theft and damage to your personal belongings
    • Loss of income if you're injured on holiday and can't work.
  • Interstate flight inconvenience insurance. Provides cover for delayed flights, lost bags and flight cancellations when travelling on a domestic flight.
  • Transit accident insurance. Pays a benefit up to $500,000 if you die travelling as a passenger on a public vehicle. Cover is automatic when you purchase the travel tickets using your Platinum Rewards Mastercard.
  • Purchase cover insurance. Purchase an item with your WAW Platinum Rewards Mastercard and get up to 3 months cover for damage, loss and theft anywhere in the world.
  • Guaranteed pricing scheme. If you buy an item and within two months you see the same item on sale for cheaper, this insurance refunds you the difference in price.
  • Extended warranty insurance. Gives extra warranty for goods purchased with your Platinum Rewards Mastercard in Australia up to one year.
  • Credit limits. The WAW MyCard Platinum Rewards Mastercard has a minimum credit limit of $6,000 and maximum credit limit of $30,000.
  • Minimum repayment. You're required to pay 2% of the outstanding card balance by the statement due date each month. A late payment fee of $10 is charged every week if you miss the minimum monthly repayment.
  • No liability for unauthorised transactions. The Mastercard Zero Liability Guarantee gives you a full refund if you're the victim of credit card fraud.

The WAW MyCard Platinum Rewards Mastercard features a competitive 0% balance transfer offer and includes both rewards and complimentary insurance options. But keep in mind that you would need to spend a lot on this card for the rewards to outweigh the $129 p.a. annual fee, and the variable purchase rate of 20.24% p.a. will add to your debt if you get a balance transfer or carry a balance from month to month. If you're looking to pay down a credit card debt through a balance transfer, compare balance transfer credit cards here.

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