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These days, when it comes to picking a credit card, it’s about much more than just acceptance and credit limits. The real game-changers are the perks and rewards you get for everyday spending.
With that in mind, Bank Australia’s Visa Platinum Rewards credit card is making a strong entry into the market. It offers a tempting array of benefits, from earning Qantas Points to complimentary travel insurance, along with top-notch security and widespread acceptance.
Get to Know the Bank Australia Platinum Rewards Visa Credit Card
The Bank Australia Platinum Rewards Visa Credit Card is a premium option designed for those who want to make the most out of their credit card.
Whether you’re a frequent traveller or someone who enjoys racking up rewards points, this card could be a top choice. With a minimum credit limit of $1,000 and an interest rate of 20.24% p.a., it’s accessible yet packed with high-end features.
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One of the standout aspects of this card is the ability to earn Qantas Points. For every dollar spent, you earn 0.75 Qantas Points, and when you spend on Qantas products and services within Australia, you’ll earn an extra point per dollar.
This makes it an excellent option for those who regularly fly with Qantas or are looking to maximise their reward potential.
Why Choose the Bank Australia Platinum Rewards Visa Credit Card?
Earn Qantas Points with Every Purchase
If you’re a Qantas Frequent Flyer member, this card could seriously boost your points balance. As mentioned, you earn 0.75 Qantas Points per dollar on everyday purchases, plus an extra point when you spend on Qantas products in Australia. It’s worth noting, however, that there’s a cap of 20,000 Qantas Points per monthly statement cycle, so it’s best suited to moderate spenders.
Complimentary Travel Insurance
Frequent travellers will appreciate the complimentary international travel insurance that comes with this card. As long as you meet the spending and eligibility criteria, you can travel with peace of mind, knowing you’re covered.
The insurance covers a range of situations, from medical expenses to trip cancellations, ensuring you’re protected when travelling overseas. Just make sure you check the terms, limits, and exclusions in the Allianz Complimentary Insurance Policy Information Booklet before you rely on this cover.
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Comprehensive Card Controls
Managing your card has never been easier. With the Bank Australia app or Internet banking, you can control various features of your card, such as locking it if it’s lost or stolen, or disabling payWave for extra security. These controls allow you to manage your card according to your preferences, giving you greater peace of mind.
24/7 Fraud Monitoring
Security is a top priority with the Bank Australia Platinum Rewards Visa Credit Card. The bank provides 24/7 fraud monitoring, and if they detect anything suspicious, they’ll act quickly to protect your funds. This round-the-clock monitoring ensures that your money stays safe, even when you’re not watching.
What to Consider Before Applying
While the Bank Australia Platinum Rewards Visa Credit Card offers many benefits, there are a few things you should consider before applying.
Annual Fee
The annual fee for this card is $189 unless it’s waived as part of a Premium Home Loan Package. For many, this fee is balanced out by the rewards and insurance benefits, but it’s something to keep in mind.
If you’re a frequent flyer and take advantage of the rewards and travel insurance, the fee might be worthwhile. However, if you don’t plan on using these features extensively, it might not be the best option for you.
Interest Rates and Fees
The interest rate on purchases is 20.24% p.a., which is fairly standard for a rewards card. You also get up to 55 days interest-free on purchases, provided you pay your balance in full each month.
This makes it a good option for those who are diligent about managing their payments. However, if you carry a balance, the interest charges can add up quickly, so it’s important to be mindful of this.
Additionally, the card comes with other fees such as a $5 fee for cash advances and a 3% international transaction fee. These are standard fees, but it’s good to be aware of them, especially if you plan to use your card overseas.
Eligibility and Application Process
To apply for the Bank Australia Platinum Rewards Visa Credit Card, you need to meet the following criteria:
- Be at least 18 years old.
- Reside in Australia, either permanently or temporarily.
- Have a regular source of income.
If you meet these requirements, the application process is straightforward. You’ll need your driver’s licence or passport, and your Medicare card to get started. Applications can be completed online, making it convenient and quick.
How to Apply for the Bank Australia Platinum Rewards Visa Credit Card
Applying for the Bank Australia Platinum Rewards Visa Credit Card is a straightforward process that you can complete online in just a few steps. Here’s how to do it:
Step 1: Click on the Direct Link to the Application Page
Start by clicking on the direct link provided to take you straight to the Bank Australia Platinum Rewards Visa Credit Card application page.
Step 2: Click ‘Apply Now’
On the card’s application page, you’ll find a button labelled ‘Apply Now’. Click this to begin your application process in a secure online environment.
Step 3: Gather Your Documentation
Before you begin filling out the application, make sure you have the necessary documents handy:
- Personal identification: Such as your driver’s licence or passport.
- Financial details: Including proof of income (like payslips or tax returns), information about your assets and liabilities, and your employment status.
- Residency information: Including your current address and living arrangements.
Having these documents ready will help you complete the application more smoothly.
Step 4: Complete the Application Form
Fill out the application form with your personal and financial details:
- Personal Details: Enter your name, date of birth, contact information, and residency status.
- Employment Information: Provide details about your job, including your employer, your role, and how long you’ve been employed there.
- Financial Information: Include your annual income, monthly expenses, any existing debts, and other financial commitments.
- Additional Cardholders: If you want to add another cardholder, you can include their details in this section.
Make sure all the information is accurate to avoid delays.
Step 5: Review and Submit Your Application
Take a moment to review your application details to ensure everything is correct. Don’t forget to read through the terms and conditions and privacy policy.
Once you’re confident that all the information is accurate, click ‘Submit’ to send your application to Bank Australia.
Step 6: Await Application Approval
After you submit your application, Bank Australia will review it, which may include conducting a credit check. This process usually takes a few business days. If your application is approved, you’ll be notified by email or letter.
- Approval Notification: You’ll receive an approval notification detailing your new credit card account.
- Application Declined: If your application is not approved, Bank Australia will inform you of the decision and may explain the reasons.
Step 7: Receive and Activate Your Card
Once your application is approved, your Bank Australia Platinum Rewards Visa Credit Card will be mailed to you within 5 to 10 business days.
- Activation: When you receive your card, activate it online or over the phone following the instructions provided. You’ll need to do this before you can start using your card.
- Set Up Online Banking: If you haven’t already, set up online banking to easily manage your account, track spending, and access card features.
Step 8: Start Enjoying Your Card Benefits
With your card activated, you can start making purchases and earning Qantas Points. Take advantage of other benefits like complimentary travel insurance and comprehensive card controls through the Bank Australia app or online banking.
Contact Information
If you have any questions or need assistance, you can contact Bank Australia:
- Within Australia: 132 888
- From Overseas: +61 3 9854 4666
Their customer service team is available Monday to Friday from 8:00 AM to 8:00 PM AEST/AEDT and on Saturdays from 9:00 AM to 2:00 PM AEST/AEDT. Bank Australia offers interpreter services if you require assistance in a language other than English.
Conclusion
The Bank Australia Platinum Rewards Visa Credit Card offers a compelling mix of rewards and benefits, particularly for those who travel frequently and are keen on earning Qantas Points.
While the annual fee and interest rates are considerations, the additional perks like complimentary travel insurance and extensive card controls make this card a strong contender for anyone looking to maximise their credit card’s value. As always, ensure that this card aligns with your financial situation and spending habits before applying.
