Westpac Altitude Platinum – Velocity – Online Offer

Last updated: 6 March 2020

Get 40,000 bonus Velocity Points and complimentary Economy X Seat Upgrade vouchers with the Westpac Altitude Platinum - Velocity card.

When you apply as a new cardholder by 31 March 2020 and spend $2,000 on eligible purchases within the first 90 days of approval, you will earn 40,000 bonus Velocity Points. You can also take advantage of 0% interest on balance transfers for the first 20 months with no balance transfer fee.

Ongoing, the Westpac Altitude Platinum credit card earns 0.5 Velocity Points per $1 for your everyday spending when you select to earn points directly through the Velocity Frequent Flyer program.

40,000

Bonus points

20.49% p.a.

Purchase rate

0.5

Reward points

Per $ spent (Visa/Mastercard)

$200 p.a.

Annual fee

Details

Product Name	Westpac Altitude Platinum Velocity - Online Offer
Rewards program	Velocity Frequent Flyer
Balance transfer rate	0% p.a. for 20 months
Balance Transfer Revert Rate	Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit	80% of available balance
Purchase rate (p.a.)	20.49% p.a.
Annual fee	$200 p.a.
Interest free period	45 days
Cash advance rate (p.a.)	21.49% p.a.
Min credit limit	$6,000
Max credit limit	$50,000
Card type	Mastercard
Foreign currency conversion fee (Visa/Mastercard)	3% of transaction value
Complimentary travel insurance	Yes

Minimum Income	$30,000
Minimum age	18 years of age
Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

40,000 bonus Velocity Points when you spend $2,000 in 90 days
0% p.a. balance transfer for 20 months with no balance transfer fee
Ability to earn uncapped Velocity Points
2 complimentary Economy X Seat Upgrade Vouchers each year

Cons

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	40,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)	0.5

Annual fee	$200 p.a.
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee (Visa/Mastercard)	3% of transaction value
Cash Advance Fee	2% or $2.50, whichever is greater
Overseas cash advance fee	2%
Additional cardholder fee	$0
Number of Additional Cardholders	1

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

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.

Right now, you can also make use of a balance transfer offer of 0% interest for the first 20 months with no balance transfer fee.

While you can both transfer a balance and earn bonus points with this offer, keep in mind that paying down your existing debt should take priority over chasing bonus points through increased spending. However, Westpac is one of a few providers that grant interest-free days on new purchases without needing to pay off your balance transfer first. So if you want to pay down existing debt and earn some bonus points, this card can help to minimise your overall interest costs.

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

40,000 bonus Velocity Points. Apply for the Westpac Altitude Platinum - Velocity to receive 40,000 bonus Velocity Points. To get the bonus points, you need to apply before 31 March 2020 and spend a minimum amount of $2,000 on eligible purchases within 90 days from card approval.
0% balance transfer offer. Save with 0% p.a. interest on balance transfers for the first 20 months with no balance transfer fee when you apply and get approved by 31 March 2020. At the end of the introductory period, any remaining balance will revert to the variable cash advance rate, currently 21.49% p.a.

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. 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 – Online Offer