Westpac Altitude Platinum – Velocity

Get 60,000 bonus Velocity Points and complimentary Economy X Seat Upgrade vouchers with the Westpac Altitude Platinum - Velocity card.

Apply as a new cardholder by 30 November 2021 and spend $3,000 on eligible purchases in the first 90 days from approval and you'll earn 60,000 bonus Velocity Points. You'll also earn 0.5 Velocity Points per $1 for your everyday spending with the Westpac Altitude Platinum when you choose to earn points directly through the Velocity Frequent Flyer program.

In addition to these features, you can also save with a discounted annual fee of $149 in the first year, reverting to $200 thereafter. If you have existing credit card debt, you can also take advantage of 0% interest on balance transfers for the first 18 months with a one-time 1% balance transfer fee. At the end of the introductory period, any remaining debt will attract the 21.49% p.a. variable cash advance rate.

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Amy Bradney-George

Last Updated Mar 31, 2021

60,000

Bonus points

20.49% p.a.

Purchase rate

0.5

Reward points

Per $ spent

$149 p.a.

Annual fee

for the first year ($200 p.a. thereafter)

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Details

Product Name	Westpac Altitude Platinum Velocity
Rewards program	Velocity Frequent Flyer
Balance transfer rate	0% p.a. for 18 months with 1% balance transfer fee
Balance transfer revert rate	Cash Advance Rate (21.49% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	20.49% p.a.
Annual fee	$149 annual fee for the first year ($200 p.a. thereafter)
Interest-free period	Up to 45 days on purchases
Cash advance rate	21.49% p.a.
Min credit limit	$6,000
Max credit limit	$50,000
Card type	Mastercard
Foreign currency conversion fee	3%

Minimum income	$30,000
Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

60,000 bonus Velocity Points
0% p.a. on balance transfers for 18 months
Discounted $149 first-year annual fee ($200 thereafter)
Ability to earn uncapped Velocity Points
2 complimentary Economy X Seat Upgrade Vouchers per year

Cons

Charges a one-time 1% balance transfer fee
Only offers up to 45 days interest-free on purchases, as opposed to most cards with 55 days
0.5 Velocity Points per $1 spent is relatively low

Rewards program	Velocity Frequent Flyer
Bonus points	60,000
Rewards points per $ spent	0.5

Annual fee	$149 annual fee for the first year ($200 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas cash advance fee	2%
Additional cardholder fee	$0
Number of additional cardholders	1

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

Not just for Qantas Frequent Flyers anymore, the Westpac Altitude Platinum now offers a Velocity option. This credit card has a straightforward earn rate of 0.5 Velocity Points per $1 spent, with no points cap. It also offers modest travel perks, including complimentary overseas travel insurance, transit accident insurance and Economy X Seat Upgrade vouchers on select domestic flights.

The Westpac Altitude Platinum - Velocity card doesn’t currently offer the highest bonus points deal, but it’s still competitive with the rest of the market. You could use 60,000 Velocity Points to fly return in premium economy from Sydney to Perth (53,400 points) and have points to spare. But if you want to take advantage of the 0% balance transfer offer, keep in mind that paying down your existing debt should take priority over spending for the sake of earning points.

How to apply

You can apply for the Westpac Altitude Platinum – Velocity card online in around 10 minutes. Start by checking that you meet the following eligibility requirements and have all the details and documents you'll need to fill out the application form.

Eligibility criteria

New customer. The bonus points offer is only available to new cardholders.
Residency. This card is available to permanent Australian residents.

Income. To apply for this card, you must earn at least $30,000 per year.
Eligible balance transfer debt. You can transfer from $200 up to 80% of your available credit limit from up to 3 Australian credit, charge or store cards not issued by Westpac.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your name, email address, living arrangements and a valid form of ID, such as your driver's licence number, Medicare card number or passport details.
Employment details. This covers your current employment status, job title, salary and your employer's contact details. You may also need to provide supporting documentation such as recent payslips, bank statements or tax assessment notices.
Financial details. This includes any other forms of income such as pensions or government payments, as well as savings and investments. You'll also need to share details of your existing debts and financial responsibilities, including an estimate of your living costs such as rent/mortgage payments, bills and groceries.
Frequent flyer membership details. You'll be given the choice of earning points through the Altitude Rewards program, Altitude Velocity, or Altitude Qantas. If you're an existing member of Velocity Frequent Flyer, you will be prompted to enter your membership number when you choose this option.
Balance transfer information. To transfer a balance you'll need to provide the account numbers of the cards you'd like to transfer, the provider's biller codes and the debt amounts.

Card benefits

60,000 bonus Velocity Points. Apply for the Westpac Altitude Platinum - Velocity to receive 60,000 bonus Velocity Points. To get the bonus points, you need to apply before 30 November 2021 and spend a minimum amount of $3,000 on eligible purchases within 90 days from card approval.
Balance transfer offer. Apply by 30 November 2021 and save on interest costs when paying off existing debt with 0% p.a. balance transfer offer for 18 months with a one-time 1% balance transfer fee. Any remaining balance after the promotional period ends is subject to the variable cash advance rate, currently 21.49% p.a.

Discounted first-year annual fee. Save with a reduced annual fee of $149 for the first year when you apply by 30 November 2021. This includes both the card annual fee and an annual Velocity Rewards fee, and reverts to $200 after the first year.
Economy X Seat Upgrade vouchers every year. When you add your membership number to your account and make a direct spend with Virgin Australia on your card, you will receive 2 vouchers for Economy X Seat Upgrades for eligible domestic flights to use for yourself and/or other passengers travelling on the same itinerary. The vouchers will be added to your account within 10 days of meeting the spend requirement and can be redeemed by calling 1300 038 373 at least 24 hours prior to your flight.
Rewards program. With your Altitude Platinum - Velocity credit card, you will earn 0.5 Velocity points per $1 you spend on eligible purchases, uncapped. Eligible purchases cover most of your everyday spending, however, transactions that won't earn points include cash advances, balance transfers, BPAY payments and payments to the Australian Taxation Office.
Complimentary insurances. You get a wide range of insurance covers with your platinum credit card. You can benefit from overseas travel insurance that includes medical expenses, lost or damaged property, personal liability, and more. You'll also enjoy transit accident insurance, purchase security insurance and extended warranty coverage.
Additional cardholder. Earn points faster by adding 1 additional cardholder for $0.
Mobile payment technology. You can link your Westpac Altitude Platinum - Velocity credit card with Samsung Pay or Google Pay to make contactless payments at the checkout with your Samsung or Android device. You can also use your fitness tracker via Garmin Pay and Fitbit Pay.

Rates & fees

Annual fee. Outside of any promotions, the Westpac Altitude Platinum – Velocity card charges a total annual fee of $200. This is made up of a $150 standard annual fee plus a $50 Velocity Rewards fee.
Purchase rate. This credit card charges a variable interest rate of 20.49% p.a. on purchases.

Interest-free days. When you pay your monthly payment balance in full, which excludes current balance transfers, listed on your statement by the payment due date, you will receive up to 45 days interest-free on new purchases. Note that interest-free days are separate from any longer-term interest rate promotions.
Cash advance rate. This card charges a variable interest rate of 21.49% p.a. for cash advance transactions.
Foreign transaction fee. A 3% fee applies for any transactions made in a foreign currency.
Minimum credit limit. This card has a minimum credit limit of $6,000.

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Westpac Altitude Platinum – Velocity