Westpac Altitude Platinum - Velocity Credit Card Review | Finder

Westpac Altitude Platinum – Velocity

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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 07 September 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.

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 NameWestpac Altitude Platinum Velocity
Rewards programVelocity Frequent Flyer
Balance transfer rate0% p.a. for 18 months with 1% balance transfer fee
Balance transfer revert rateCash Advance Rate (21.49% p.a.)
Balance transfer limit80% of available limit
Purchase rate20.49% p.a.
Annual fee$149 annual fee for the first year ($200 p.a. thereafter)
Interest-free periodUp to 45 days on purchases
Cash advance rate21.49% p.a.
Min credit limit$6,000
Max credit limit$50,000
Card typeMastercard
Foreign currency conversion fee3%
Minimum income$30,000
Available to temporary residentsYes - Conditions apply
Joint applicationNo

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 programVelocity Frequent Flyer
Bonus points60,000
Rewards points per $ spent0.5
Annual fee$149 annual fee for the first year ($200 p.a. thereafter)
Minimum monthly repayment2% of the closing balance or $10, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee2% or $2.50, whichever is greater
Overseas cash advance fee2%
Additional cardholder fee$0
Number of additional cardholders1

Expert review

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Review by


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.

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.

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 07 September 2021 and spend a minimum amount of $3,000 on eligible purchases within 90 days from card approval.
  • Balance transfer offer. Apply by 07 September 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.

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.

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